TERAWULF INC. (WULF)

15.35 -6.91% (-1.14)

Over 5Y: -26.7%

2026-08-28
20
2021 2022 2023 2024 2025 2026

Financials Quarterly

Q3 '21 — Revenue: 4.7M Q3 '21 — Operating Cash Flow: -4.6M Q3 '21 — Free Cash Flow: -4.6M Q3 '21 — Net Income: -6.2M Q4 '21 — Operating Cash Flow: -14.8M Q4 '21 — Free Cash Flow: -93.4M Q4 '21 — Net Income: -83.4M Q1 '22 — Revenue: 217K Q1 '22 — Operating Cash Flow: -15.3M Q1 '22 — Free Cash Flow: -43M Q1 '22 — Net Income: -18.2M Q2 '22 — Revenue: 1.4M Q2 '22 — Operating Cash Flow: -8.3M Q2 '22 — Free Cash Flow: -26M Q2 '22 — Net Income: -13.7M Q3 '22 — Revenue: 3.9M Q3 '22 — Operating Cash Flow: -6.1M Q3 '22 — Free Cash Flow: -14.6M Q3 '22 — Net Income: -34M Q4 '22 — Revenue: 9.6M Q4 '22 — Operating Cash Flow: -4.5M Q4 '22 — Free Cash Flow: -11.6M Q4 '22 — Net Income: -25M Q1 '23 — Revenue: 11.5M Q1 '23 — Operating Cash Flow: -8.7M Q1 '23 — Free Cash Flow: -18.7M Q1 '23 — Net Income: -26.3M Q2 '23 — Revenue: 15.5M Q2 '23 — Operating Cash Flow: -297K Q2 '23 — Free Cash Flow: -6.3M Q2 '23 — Net Income: -17.5M Q3 '23 — Revenue: 19M Q3 '23 — Operating Cash Flow: 2.4M Q3 '23 — Free Cash Flow: -23M Q3 '23 — Net Income: -19.1M Q4 '23 — Revenue: 23.3M Q4 '23 — Net Income: -10.5M Q1 '24 — Revenue: 42.4M Q1 '24 — Operating Cash Flow: 22.8M Q1 '24 — Free Cash Flow: -24.1M Q1 '24 — Net Income: -9.6M Q2 '24 — Revenue: 35.6M Q2 '24 — Operating Cash Flow: 16.4M Q2 '24 — Free Cash Flow: -30.2M Q2 '24 — Net Income: -10.9M Q3 '24 — Revenue: 27.1M Q3 '24 — Operating Cash Flow: -20.9M Q3 '24 — Free Cash Flow: -41.7M Q3 '24 — Net Income: -22.7M Q4 '24 — Revenue: 35M Q4 '24 — Operating Cash Flow: -42.7M Q4 '24 — Free Cash Flow: -196.4M Q4 '24 — Net Income: -29.2M Q1 '25 — Revenue: 34.4M Q1 '25 — Operating Cash Flow: 56.5M Q1 '25 — Free Cash Flow: -37.2M Q1 '25 — Net Income: -61.4M Q2 '25 — Revenue: 47.6M Q2 '25 — Operating Cash Flow: -54.8M Q2 '25 — Free Cash Flow: -174.8M Q2 '25 — Net Income: -18.4M Q3 '25 — Revenue: 50.6M Q3 '25 — Operating Cash Flow: -36.7M Q3 '25 — Free Cash Flow: -268.3M Q3 '25 — Net Income: -455.1M Q4 '25 — Revenue: 35.8M Q4 '25 — Operating Cash Flow: -88.2M Q4 '25 — Free Cash Flow: -703.2M Q4 '25 — Net Income: -126.6M Q1 '26 — Revenue: 34M Q1 '26 — Operating Cash Flow: -17.6M Q1 '26 — Free Cash Flow: -540.5M Q1 '26 — Net Income: -427.6M Q2 '26 — Revenue: 44.8M Q2 '26 — Operating Cash Flow: -136.7M Q2 '26 — Free Cash Flow: -992.3M Q2 '26 — Net Income: -939.9M -750M -500M -250M 0 250M
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?

0.6
SBC / sales 118.8%
OE margin -1634.8%
Oper. margin -250.4%
ROIC -48.4%
Accruals -20.7%
Gross margin 40.2%
Asset turnover 0.021×
EBITDA margin -187.4%
FCF margin -1515.9%
OCF margin -169.0%
Profit margin -1179.9%
ROA -24.2%
ROCE -9.7%
ROE -1323.4%
Capex / sales —
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?

1.0
RPO / sales 0.0042×
RPO growth —
Segment HHI —

4 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?

1.2
ND/EBITDA —
Current ratio 0.75×
Cash / Debt 0.83×
Quick ratio 0.75×
Debt / Eq 21.4×
F-score 1.0 pts
Cash runway —
Debt payback —
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?

5.5
Sales CAGR 4Y +65.8%
Sales/sh Y/Y +1.3%
Sales Q/Q -6.0%
Shares change +13.2%
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.