CleanSpark (CLSK) financial statements
CleanSpark reported revenue of $766M in fiscal 2025, up 176.2% a year over 9 years.
Net income was $364M and the operating margin 41.6%, against -3097.9% in 2016.
Free cash flow was -$613M, and the company returned $145M in net buybacks.
The diluted share count rose 14005% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CleanSpark's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82,031 | $447,963 | $578,635 | $4M | $9M | $39M | $132M | $168M | $379M | $766M |
| Cost of revenue | $31,264 | $296,295 | $390,774 | $4M | $8M | $5M | $41M | $94M | $166M | $343M |
| Gross profit | $50,767 | $151,668 | $187,861 | $671,696 | $2M | $34M | $90M | $75M | $213M | $423M |
| Research and development | $1,826 | $591 | $7,190 | — | — | — | — | — | — | — |
| Selling, general and admin | $86,143 | $365,819 | $279,679 | $917,298 | $1M | $6M | $10M | $21M | $30M | $53M |
| Operating income | -$3M | -$13M | -$7M | -$17M | -$15M | -$12M | -$38M | -$131M | -$149M | $319M |
| Interest expense | $32 | $2,895 | $924,454 | $9M | $11M | $145,728 | $1M | $3M | $2M | $11M |
| Pre-tax income | — | — | — | — | — | -$8M | -$40M | -$134M | -$146M | $364M |
| Income tax | -$1M | -$13M | — | — | — | $0 | $0 | $2M | $3M | $39M |
| Net income | -$3M | -$13M | -$47M | -$26M | -$23M | -$22M | -$57M | -$138M | -$146M | $364M |
| EPS (diluted) | -$1.10 | -$4.20 | -$13.62 | -$6.25 | -$2.44 | -$0.75 | — | -$1.30 | — | — |
| Diluted shares | 2M | 3M | 3M | 4M | 10M | 29M | 43M | 103M | 217M | 318M |
| Gross margin | 61.9% | 33.9% | 32.5% | 17.9% | 24.6% | 86.6% | 68.6% | 44.4% | 56.3% | 55.2% |
| Operating margin | -3097.9% | -2986.5% | -1222.9% | -442.7% | -175.7% | -30.3% | -28.8% | -77.8% | -39.3% | 41.6% |
| Net margin | -3097.1% | -3013.3% | -8123.6% | -695.9% | -270.8% | -55.5% | -43.6% | -82.0% | -38.5% | 47.6% |
Balance sheet
Fiscal years, from CleanSpark's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $436,529 | $57,128 | $412,777 | $8M | $3M | $18M | $20M | $29M | $121M | $43M |
| Receivables | $57,095 | $41,947 | $34,141 | $777,716 | $859,791 | $307,067 | $27,000 | $5,000 | — | — |
| Inventory | — | — | — | — | — | — | $216,000 | $809,000 | — | — |
| Total current assets | $604,366 | $128,631 | $548,380 | $10M | $8M | $58M | $51M | $102M | $705M | $1.3B |
| Property, plant and equipment | $782,975 | $125,441 | $86,731 | $145,070 | $117,994 | $138M | $377M | $564M | $870M | $1.4B |
| Goodwill | $5M | $5M | $5M | $5M | $6M | $12M | $0 | $8M | $8M | $132M |
| Total assets | $33M | $21M | $18M | $23M | $22M | $317M | $453M | $762M | $2.0B | $3.2B |
| Total current liabilities | $357,421 | $301,291 | $1M | $2M | $5M | $10M | $34M | $74M | $188M | $316M |
| Total liabilities | $357,421 | $451,291 | $1M | $5M | $6M | $12M | $49M | $86M | $202M | $1.0B |
| Shareholders' equity | $33M | $20M | $16M | $19M | $16M | $306M | $404M | $676M | $1.8B | $2.2B |
| Net debt | -$436,529 | $92,872 | -$343,656 | -$5M | -$3M | -$18M | -$20M | -$29M | -$121M | -$43M |
Cash flow
Fiscal years, from CleanSpark's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$438,165 | -$1M | -$1M | -$6M | -$7M | -$24M | $73M | -$17M | -$234M | -$461M |
| Capital spending | $9,673 | $5,112 | $15,227 | $102,761 | $34,897 | $139M | $19M | $62M | $67M | $152M |
| Free cash flow | -$447,838 | -$1M | -$1M | -$6M | -$7M | -$163M | $54M | -$79M | -$300M | -$613M |
| Stock-based compensation | — | $135,546 | $2M | $2M | $2M | $9M | $31M | $24M | $30M | $45M |
| Share buybacks (net) | — | — | — | — | — | — | — | $0 | $0 | -$145M |
| Net borrowing | — | — | — | -$625,344 | -$217,467 | -$6M | — | — | — | — |
| Free cash flow margin | -545.9% | -305.2% | -220.5% | -154.6% | -77.5% | -415.5% | 41.2% | -46.9% | -79.2% | -80.0% |
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What was CleanSpark's revenue in 2025?
$766M in fiscal 2025, from its 10-K filing.
How much free cash flow does CleanSpark generate?
-$613M in fiscal 2025 (operating cash flow minus capital spending).
From CleanSpark's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.