Riot Blockchain (RIOT) financial statements
Riot Blockchain reported revenue of $647M in fiscal 2025, up 244.7% a year over 9 years.
Net income was -$663M and the operating margin -96.1%, against -55144.1% in 2016.
Free cash flow was -$774M, and the company returned $4M in net buybacks.
The diluted share count rose 8281% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Riot Blockchain's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9,416 | $269,657 | $8M | $7M | $12M | $213M | $259M | $281M | $377M | $647M |
| Cost of revenue | $3,058 | $25,186 | $6M | $6M | $6M | — | — | — | — | — |
| Gross profit | $6,358 | $244,471 | $2M | $740,000 | $6M | — | — | — | — | — |
| Research and development | $249,164 | $20,033 | — | — | — | — | — | — | — | — |
| Selling, general and admin | $4M | $7M | $21M | $9M | $87M | $87M | $67M | $100M | $267M | $299M |
| Operating income | -$5M | -$13M | -$59M | -$9M | -$16M | -$30M | -$513M | -$63M | $154M | -$622M |
| Interest expense | $30,161 | $5M | $123,000 | $122,000 | — | $296,000 | — | — | — | — |
| Pre-tax income | -$3M | -$18M | -$61M | -$20M | -$14M | -$15M | -$521M | -$55M | $110M | -$663M |
| Income tax | — | -$2M | -$699,000 | -$143,000 | — | $254,000 | -$12M | -$5M | $744,000 | -$150,000 |
| Net income | -$4M | -$20M | -$58M | -$20M | -$14M | -$15M | -$510M | -$49M | $109M | -$663M |
| EPS (diluted) | -$1.05 | -$3.30 | -$4.33 | -$1.02 | -$0.33 | -$0.17 | -$3.65 | -$0.28 | $0.34 | -$1.95 |
| Diluted shares | 4M | 6M | 13M | 20M | 42M | 93M | 139M | 175M | 319M | 341M |
| Gross margin | 67.5% | 90.7% | 25.8% | 10.8% | 48.3% | — | — | — | — | — |
| Operating margin | -55144.1% | -4878.2% | -756.7% | -137.7% | -128.7% | -14.0% | -197.8% | -22.5% | 40.8% | -96.1% |
| Net margin | -45378.5% | -7359.7% | -739.4% | -293.1% | -116.8% | -7.2% | -196.6% | -17.6% | 29.0% | -102.4% |
Balance sheet
Fiscal years, from Riot Blockchain's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $13M | $42M | $225,000 | $7M | $223M | $323M | $230M | $597M | $278M | $234M |
| Receivables | $4,539 | — | — | — | — | $15M | $27M | $25M | $27M | $30M |
| Inventory | $415,847 | — | — | — | — | — | — | — | — | — |
| Total current assets | $14M | $42M | $2M | $13M | $236M | $565M | $443M | $1.0B | $599M | $449M |
| Property, plant and equipment | $5,538 | $4M | $26,000 | $5M | $10M | $276M | $693M | $704M | $1.3B | $1.5B |
| Goodwill | $387,239 | $1M | — | — | — | $336M | — | — | $122M | $122M |
| Total assets | $17M | $52M | $14M | $30M | $280M | $1.5B | $1.3B | $2.1B | $3.9B | $3.9B |
| Total current liabilities | $1M | $1M | $7M | $3M | $2M | $110M | $122M | $121M | $160M | $470M |
| Long-term debt | — | — | — | — | — | — | — | $526,000 | $584M | $587M |
| Total liabilities | $2M | $3M | $9M | $4M | $3M | $174M | $169M | $163M | $792M | $1.1B |
| Shareholders' equity | $15M | $49M | $6M | $26M | $276M | $1.3B | $1.2B | $1.9B | $3.1B | $2.9B |
| Net debt | -$6M | -$42M | -$225,000 | -$7M | -$223M | -$312M | -$230M | -$596M | $307M | $607M |
Cash flow
Fiscal years, from Riot Blockchain's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6M | -$4M | -$19M | -$15M | -$3M | -$86M | $530,000 | $33M | -$255M | -$573M |
| Capital spending | $35,402 | — | $21M | $5M | $8M | $147M | $148M | $194M | $240M | $201M |
| Free cash flow | -$6M | — | -$40M | -$20M | -$11M | -$233M | -$148M | -$161M | -$495M | -$774M |
| Stock-based compensation | $545,549 | $3M | $5M | $745,000 | $3M | $68M | $25M | $32M | $125M | $126M |
| Dividends paid | — | $10M | — | — | — | — | — | — | — | — |
| Share buybacks (net) | — | — | — | — | -$446,000 | -$5M | -$10M | -$14M | -$12M | -$4M |
| Free cash flow margin | -58996.9% | — | -507.8% | -298.0% | -91.0% | -109.4% | -57.1% | -57.2% | -131.5% | -119.6% |
| Dividends per share | — | $1.59 | — | — | — | — | — | — | — | — |
Questions
What was Riot Blockchain's revenue in 2025?
$647M in fiscal 2025, from its 10-K filing.
How much free cash flow does Riot Blockchain generate?
-$774M in fiscal 2025 (operating cash flow minus capital spending).
From Riot Blockchain's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.