RIOT PLATFORMS, INC. (RIOT)

18.99 -9.05% (-1.89)

Over 1Y: +37.6%

2026-08-28
15 20 25 30
Aug Oct Dec Feb Apr Jun Aug

Financials Quarterly

Q3 '21 — Revenue: 64.8M Q3 '21 — Operating Cash Flow: -33.7M Q3 '21 — Free Cash Flow: -105.4M Q3 '21 — Net Income: -15.3M Q4 '21 — Revenue: 90.9M Q4 '21 — Operating Cash Flow: -25.2M Q4 '21 — Free Cash Flow: -93.5M Q4 '21 — Net Income: -27M Q1 '22 — Revenue: 79.8M Q1 '22 — Operating Cash Flow: -45.3M Q1 '22 — Free Cash Flow: -82.4M Q1 '22 — Net Income: 36.6M Q2 '22 — Revenue: 72.9M Q2 '22 — Operating Cash Flow: 30.9M Q2 '22 — Free Cash Flow: -9.4M Q2 '22 — Net Income: -353.6M Q3 '22 — Revenue: 46.3M Q3 '22 — Operating Cash Flow: 13.4M Q3 '22 — Free Cash Flow: -38.8M Q3 '22 — Net Income: -32.4M Q4 '22 — Revenue: 60.1M Q4 '22 — Operating Cash Flow: 1.5M Q4 '22 — Free Cash Flow: -17.2M Q4 '22 — Net Income: -160.1M Q1 '23 — Revenue: 73.2M Q1 '23 — Operating Cash Flow: 32.4M Q1 '23 — Free Cash Flow: -18.6M Q1 '23 — Net Income: 18.5M Q2 '23 — Revenue: 76.7M Q2 '23 — Operating Cash Flow: -38.1M Q2 '23 — Free Cash Flow: -94.6M Q2 '23 — Net Income: -27.4M Q3 '23 — Revenue: 51.9M Q3 '23 — Operating Cash Flow: -6.2M Q3 '23 — Free Cash Flow: -47M Q3 '23 — Net Income: -80M Q4 '23 — Revenue: 78.8M Q4 '23 — Operating Cash Flow: 45M Q4 '23 — Free Cash Flow: -460K Q4 '23 — Net Income: 39.4M Q1 '24 — Revenue: 79.3M Q1 '24 — Operating Cash Flow: -57.9M Q1 '24 — Free Cash Flow: -115.2M Q1 '24 — Net Income: 211.8M Q2 '24 — Revenue: 70M Q2 '24 — Operating Cash Flow: -42.5M Q2 '24 — Free Cash Flow: -96.1M Q2 '24 — Net Income: -84.4M Q3 '24 — Revenue: 84.8M Q3 '24 — Operating Cash Flow: -56.3M Q3 '24 — Free Cash Flow: -127.6M Q3 '24 — Net Income: -154.4M Q4 '24 — Revenue: 142.6M Q4 '24 — Operating Cash Flow: -98.4M Q4 '24 — Free Cash Flow: -156.6M Q4 '24 — Net Income: 136.4M Q1 '25 — Revenue: 161.4M Q1 '25 — Operating Cash Flow: -122.1M Q1 '25 — Free Cash Flow: -154.9M Q1 '25 — Net Income: -296.4M Q2 '25 — Revenue: 153M Q2 '25 — Operating Cash Flow: -231.3M Q2 '25 — Free Cash Flow: -291.7M Q2 '25 — Net Income: 219.5M Q3 '25 — Revenue: 180.2M Q3 '25 — Operating Cash Flow: -114M Q3 '25 — Free Cash Flow: -139.7M Q3 '25 — Net Income: 104.5M Q4 '25 — Revenue: 152.8M Q4 '25 — Operating Cash Flow: -105.5M Q4 '25 — Free Cash Flow: -188M Q4 '25 — Net Income: -690.7M Q1 '26 — Revenue: 167.2M Q1 '26 — Operating Cash Flow: -182.7M Q1 '26 — Free Cash Flow: -298.1M Q1 '26 — Net Income: -500.5M Q2 '26 — Revenue: 174.2M Q2 '26 — Operating Cash Flow: -90.1M Q2 '26 — Free Cash Flow: -150.9M Q2 '26 — Net Income: -237.2M -600M -400M -200M 0 200M 400M
Q4 '21 Q3 '22 Q2 '23 Q1 '24 Q4 '24 Q3 '25 Q2 '26
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-06-30, reported in USD. The newest fact in the filings is dated 2026-06-30, 61 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

0.9
SBC / sales 20.9%
OE margin -136.0%
Oper. margin -199.2%
ROIC -53.6%
Accruals -25.5%
EBITDA margin -142.7%
FCF margin -115.1%
OCF margin -73.0%
Profit margin -196.3%
ROA -40.6%
ROCE -47.9%
ROE -60.4%
Gross margin —
OCF / EBIT —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

4.2
RPO / sales 0.18×
RPO growth 408.6%
Segment HHI 0.45 HHI

3 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

4.8
ND/EBITDA —
Interest cover -78.4×
Cash / Debt 1.8×
Debt / Eq 0.12×
Debt payback 0.0 yr
Quick ratio 1.6×
Cash runway 0.28 yr
F-score 2.2 pts
Payout —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

3.5
Sales CAGR 4Y +32.0%
Sales/sh Y/Y +16.5%
Sales Q/Q +13.9%
Div. growth —
EBIT CAGR —
EBIT Y/Y —
EPS CAGR 4Y —
EPS Y/Y —
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.