BitFuFu (FUFU) financial statements
BitFuFu reported revenue of $414M in fiscal 2025, up 41.6% a year over 4 years.
Net income was -$31M and the operating margin -5.7%, against 5.7% in 2021.
The diluted share count rose 19% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from BitFuFu's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $103M | $138M | $184M | $306M | $414M |
| Cost of revenue | $94M | $162M | $271M | $434M | $449M |
| Gross profit | $9M | $36M | $13M | $30M | $29M |
| Research and development | $469,931 | $2M | $2M | $6M | $3M |
| Selling, general and admin | $3M | $5M | $6M | $33M | $13M |
| Operating income | $6M | $4M | $17M | $66M | -$24M |
| Interest expense | — | $3M | $6M | $6M | $9M |
| Pre-tax income | $6M | $2M | $13M | $62M | -$29M |
| Income tax | $1M | -$666,000 | $2M | $8M | $2M |
| Net income | $5M | $2M | $10M | $54M | -$31M |
| EPS (diluted) | $0.03 | $0.02 | $0.07 | $0.33 | -$0.18 |
| Diluted shares | 142M | 149M | 150M | 166M | 170M |
| Gross margin | 8.8% | 26.3% | 6.9% | 9.7% | 7.0% |
| Operating margin | 5.7% | 2.8% | 9.0% | 21.6% | -5.7% |
| Net margin | 4.8% | 1.8% | 5.7% | 17.6% | -7.5% |
Balance sheet
Fiscal years, from BitFuFu's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $13M | $60M | $32M | $38M | $28M |
| Receivables | — | $6M | $4M | $11M | $12M |
| Inventory | — | — | — | $246,000 | $145,000 |
| Total current assets | — | $88M | $121M | $265M | $325M |
| Property, plant and equipment | — | $106M | $82M | $56M | $21M |
| Goodwill | — | — | — | — | $4M |
| Total assets | — | $198M | $210M | $378M | $358M |
| Total current liabilities | — | $82M | $86M | $64M | $98M |
| Total liabilities | — | $191M | $193M | $215M | $208M |
| Shareholders' equity | $5M | $7M | $17M | $162M | $150M |
| Net debt | -$13M | -$60M | -$32M | -$38M | -$13M |
Cash flow
Fiscal years, from BitFuFu's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $16M | -$7M | -$196M | -$220M | -$113M |
| Stock-based compensation | — | — | — | $26M | $588,000 |
| Share buybacks (net) | — | -$2M | — | — | — |
| Net borrowing | — | — | -$7M | — | — |
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What was BitFuFu's revenue in 2025?
$414M in fiscal 2025, from its 10-K filing.
From BitFuFu's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.