RIOT Riot Platforms, Inc. - Common Stock
NASDAQ · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$19.73
· of 52w range
· above low
· to high
$11.5052w low
$30.3252w high
Market Cap (MRQ)
$7.46B
P/E (TTM)
-5.3
EPS (TTM)
$-3.75
Revenue (TTM)
$675M
your badges
52W Range
$12–$30
Analyst Rating
BUY
Price Target
$33
P/E
-5.3
ROE
-48.2%
Net Profit Margin
-196.3%
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RIOT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$19.73
Market Cap (MRQ)
$7.46B
P/E (TTM)
-5.3
EPS (TTM)
$-3.75
Revenue (TTM)
$675M
ROE (TTM)
-48.2%
Debt/Equity (MRQ)
0.4
52W Range
$12–$30
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$647M2021-12-31 → 2025-12-31
EPS$-1.952021-12-31 → 2025-12-31
Free Cash Flow$-774M2021-12-31 → 2025-12-31
Net margin-196.3%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | RIOT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -5.35Y avg ≈-8.2 | ≈-8.2 | · | · | |
| P/S (TTM) | 11.15Y avg ≈7.9 | ≈7.9 | 9.3 | Overvalued | |
| P/B (MRQ) | 3.45Y avg ≈1.3 | ≈1.3 | 6.1 | Undervalued | |
| EV / EBITDA | -28.4 | · | · | · | |
| Price / FCF (TTM) | -9.65Y avg ≈-9.8 | ≈-9.8 | · | · | |
| Price / Cash Flow (TTM) | -15.15Y avg ≈289.7 | ≈289.7 | · | · | |
| EV / Revenue | 12.3 | · | · | · | |
| EV / FCF | -10.3 | · | · | · | |
| Price / Tangible Book (MRQ) | 3.45Y avg ≈1.3 | ≈1.3 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | RIOT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -199.2%5Y avg ≈-68.9% | ≈-68.9% | 13.2% | Weak | |
| EBITDA Margin | -43.1%5Y avg ≈-20.0% | ≈-20.0% | 13.2% | Weak | |
| Pretax Margin | -102.5%5Y avg ≈-73.5% | ≈-73.5% | 14.3% | Weak | |
| Net Profit Margin (TTM) | -196.3%5Y avg ≈-71.9% | ≈-71.9% | 11.4% | Weak | |
| ROA (TTM) | -35.1%5Y avg ≈-13.2% | ≈-13.2% | 4.6% | Weak | |
| ROE (TTM) | -48.2%5Y avg ≈-15.6% | ≈-15.6% | 13.6% | Weak | |
| ROIC | -16.8%5Y avg ≈-14.8% | ≈-14.8% | 6.0% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | RIOT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.4 | · | 0.4 | High debt | |
| Current Ratio (MRQ) | 1.65Y avg ≈4.2 | ≈4.2 | 1.3 | Strong liquidity | |
| Quick Ratio | 0.65Y avg ≈2.4 | ≈2.4 | 0.9 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.3 | · | 0.1 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | RIOT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 71.9%5Y avg ≈34.0% | ≈34.0% | · | · | |
| Revenue CAGR 3Y | 35.7%5Y avg ≈80.6% | ≈80.6% | · | · | |
| Revenue CAGR 5Y | 121.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | RIOT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.25Y avg ≈0.2 | ≈0.2 | 0.5 | Weak | |
| Receivables Turnover | 22.85Y avg ≈15.0 | ≈15.0 | 8.3 | Top tier | |
| Revenue / Employee | ≈$793.4K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Oct 12, 2017 | $1.00 | USD | ≈12.2% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-82.4%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $-0.68 | $-0.27 | -151.0% |
| March 31, 2026 | May 13, 2026 | $-1.44 | $-0.60 | -138.2% |
| Dec. 31, 2025 | $-2.06 | $-0.29 | -607.4% | |
| Sept. 30, 2025 | $0.26 | $0.07 | 280.7% | |
| June 30, 2025 | $0.92 | $0.11 | 760.6% | |
| March 31, 2025 | $-0.90 | $-0.12 | -638.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $647M | $377M | $281M | $259M | $213M | $12M | $7M | $8M | $269.7K | · | $101.4K | $167.0K | |
| Cost of Revenue | · | · | · | · | · | $6M | $6M | $6M | $25.2K | · | $30.6K | $71.5K | |
| Gross Profit | · | · | · | · | · | · | · | · | · | $6.4K | $70.8K | $95.5K | |
| R&D Expense | · | · | · | · | · | · | · | · | $20.0K | $249.2K | $2M | $4M | |
| SG&A Expense | $299M | $267M | $100M | $67M | $87M | $87M | $9M | $21M | $7M | $4M | $7M | $7M | |
| Operating Expenses | $1.27B | $223M | $344M | $772M | $243M | $28M | $16M | $67M | $13M | $5M | $9M | $11M | |
| Operating Income | $-622M | $154M | $-63M | $-513M | $-30M | $-16M | $-9M | $-59M | $-13M | $-5M | $-9M | $-10M | |
| Interest Expense | · | · | · | · | $296.0K | · | $122.0K | $123.0K | $5M | $30.2K | $99.0K | $116.2K | |
| Interest Income | · | $564.0K | · | · | · | $85.0K | · | · | $104.9K | $126.3K | $153.6K | · | |
| Other Non-op | $3M | $863.0K | $260.0K | $-59.0K | $15M | $-6.0K | $874.0K | $-2M | $-5M | $2M | $8.1K | $34.0K | |
| Pretax Income | $-663M | $110M | $-55M | $-521M | $-15M | $-14M | $-20M | $-61M | $-18M | $-3M | · | · | |
| Income Tax | $-150.0K | $744.0K | $-5M | $-12M | $254.0K | · | $-143.0K | $-699.0K | $-2M | · | · | · | |
| Net Income | $-663M | $109M | $-49M | $-510M | $-15M | $-14M | $-20M | $-58M | $-20M | $-4M | $-9M | $-10M | |
| EPS (Basic) | $-1.95 | $0.40 | $-0.28 | $-3.65 | $-0.17 | $-0.34 | $-1.02 | · | · | · | · | · | |
| EPS (Diluted) | $-1.95 | $0.34 | $-0.28 | $-3.65 | $-0.17 | $-0.33 | $-1.02 | · | · | · | · | · | |
| Shares (Basic) | 340,719,298 | 275,980,010 | 175,026,051 | 139,433,901 | 93,452,764 | 41,976,704 | 19,597,977 | · | · | · | · | · | |
| Shares (Diluted) | 340,719,298 | 318,925,961 | 175,026,051 | 139,433,901 | 93,452,764 | 41,976,704 | 19,597,977 | · | · | · | · | · | |
| EBITDA | $-279M | $360M | $183M | $-513M | $-22M | · | · | · | · | · | $-8M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $234M | $278M | $597M | $230M | $312M | $223M | $7M | $225.0K | $42M | $6M | $2M | $4M | |
| Short-term Investments | · | · | · | · | $11M | · | · | · | $200.2K | $8M | $14M | $21M | |
| Receivables | $30M | $27M | $25M | $27M | $15M | · | · | · | · | $4.5K | · | · | |
| Inventory | · | · | · | · | · | · | · | · | · | $415.8K | · | · | |
| Prepaid Expense | $59M | $40M | $29M | $33M | $7M | $1M | $1M | $1M | $538.8K | $220.0K | $251.8K | $357.1K | |
| Current Assets | $449M | $599M | $1.01B | $443M | $565M | $236M | $13M | $2M | $42M | $14M | $16M | $25M | |
| PP&E (Net) | $1.53B | $1.34B | $704M | $693M | $276M | $10M | $5M | $26.0K | $4M | $5.5K | $2M | $2M | |
| PP&E (Gross) | $2.13B | $1.79B | $1.06B | $815M | $307M | $14M | $5M | $93.0K | $5M | $116.5K | $5M | $5M | |
| Accum. Depreciation | $605M | $446M | $359M | $122M | $30M | $4M | $100.0K | $67.0K | $468.1K | $111.0K | $3M | $3M | |
| Goodwill | $122M | $122M | · | · | $336M | · | · | · | $1M | $387.2K | $448.0K | $448.0K | |
| Intangibles | $30M | $34M | $16M | $21M | $14M | $336.0K | $459.0K | $507.0K | $510.0K | · | · | $1M | |
| Other Non-current Assets | · | · | · | · | · | · | · | $707.3K | $2M | $938.0K | $2M | $2M | |
| Total Assets | $3.94B | $3.94B | $2.05B | $1.32B | $1.52B | $280M | $30M | $14M | $52M | $17M | $21M | $29M | |
| Accounts Payable | $23M | $18M | $23M | $18M | $20M | $718.0K | $717.0K | $4M | $410.0K | $253.8K | $701.1K | $437.5K | |
| Accrued Liabilities | $143M | $76M | $62M | $65M | $22M | $2M | $2M | $2M | $216.9K | $306.2K | $241.9K | $325.4K | |
| Short-term Debt | · | · | · | · | · | · | · | · | $135.6K | $139.6K | $301.2K | $312.9K | |
| Current Liabilities | $470M | $160M | $121M | $122M | $110M | $2M | $3M | $7M | $1M | $1M | $2M | $2M | |
| Capital Leases | $20M | $24M | $19M | $20M | $12M | · | · | · | · | · | · | · | |
| Deferred Tax | $56M | $215M | $70M | $107M | · | · | · | $143.0K | $699.0K | · | · | · | |
| Other Non-current Liabilities | $19.0K | $6M | $6M | $8M | $6M | · | · | · | · | · | · | · | |
| Total Liabilities | $1.08B | $792M | $163M | $169M | $174M | $3M | $4M | $9M | $3M | $2M | $5M | $5M | |
| Long-term Debt | $841M | $585M | $783.0K | · | · | · | · | · | · | · | · | · | |
| Total Debt | $841M | $585M | · | · | · | · | · | · | · | · | $142.3K | · | |
| Common Stock | $4.21B | $3.83B | $2.69B | $1.91B | $1.60B | $507M | $243M | $203M | $180M | $125M | · | · | |
| Retained Earnings | $-1.35B | $-690M | $-800M | $-756M | $-247M | $-230M | $-217M | $-197M | $-139M | $-110M | $-106M | $-97M | |
| AOCI | · | $222.0K | $150.0K | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $2.86B | $3.14B | $1.89B | $1.15B | $1.35B | $276M | $26M | $4M | $49M | $15M | $16M | $24M | |
| Liabilities + Equity | $3.94B | $3.94B | $2.05B | $1.32B | $1.52B | $280M | $30M | $14M | $52M | $17M | $21M | $29M | |
| Shares Outstanding | 371,575,652 | 344,890,208 | 230,836,624 | 167,751,112 | 116,748,472 | 78,523,517 | 25,082,872 | 14,519,058 | 11,622,112 | 4,503,971 | 3,876,961 | 30,990,029 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $343M | $206M | $246M | $106M | $26M | $26M | $119.0K | $5M | $890.9K | $93.3K | $253.8K | $288.8K | |
| Stock-based Comp | $126M | $125M | $32M | $25M | $68M | $3M | $745.0K | $5M | $3M | $545.5K | $1M | $1M | |
| Deferred Tax | · | · | $-5M | $-13M | · | · | $-143.0K | $699.0K | $2M | · | · | · | |
| Amort. of Intangibles | $4M | $6M | $6M | $2M | $200.0K | $167.0K | $86.0K | $62.0K | $68.0K | · | · | · | |
| Other Non-cash | $-378M | $-696M | $-191M | · | · | · | · | · | · | · | $491.9K | · | |
| Operating Cash Flow | $-573M | $-255M | $33M | $530.0K | $-86M | $-3M | $-15M | $-19M | $-4M | $-6M | $-7M | $-9M | |
| CapEx | $201M | $240M | $194M | $148M | $147M | $8M | $5M | $20M | · | $35.4K | · | $30.1K | |
| Investing Cash Flow | $76M | $-1.51B | $-415M | $-355M | $-491M | $-41M | $-3M | $-25M | $6M | $9M | · | · | |
| Stock Issued | $213M | $977M | $778M | $305M | $685M | $265M | $25M | · | $38M | · | · | $20M | |
| Stock Repurchased | $4M | $12M | $14M | $10M | $5M | $446.0K | · | · | · | · | · | · | |
| Net Stock Activity | $208M | $965M | $764M | $295M | $680M | · | · | · | · | · | · | · | |
| Dividends Paid | · | · | · | · | · | · | · | · | $10M | · | · | · | |
| Financing Cash Flow | $455M | $1.52B | $749M | $272M | $666M | $260M | $26M | $2M | $35M | $-311.1K | · | · | |
| Net Change in Cash | · | · | · | · | · | · | · | $-41M | $36M | $4M | $-2M | $-2M | |
| Taxes Paid | $960.0K | $107.0K | $680.0K | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-774M | $-495M | $-161M | $-148M | $-233M | · | · | · | · | · | · | · | |
| Levered FCF | · | · | · | · | $-234M | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | · | · | · | · | · | 69.8% | · | |
| Operating Margin | -96.1% | 40.8% | -22.5% | -197.8% | -10.5% | · | · | · | · | · | -8628.9% | · | |
| Net Margin | -102.4% | 29.0% | -17.6% | -196.6% | -3.7% | · | · | · | · | · | -8637.7% | · | |
| Pretax Margin | -102.5% | 29.2% | -19.4% | -201.1% | -3.6% | · | · | · | · | · | · | · | |
| EBITDA Margin | -43.1% | 95.5% | 65.4% | -197.8% | -10.5% | · | · | · | · | · | -8378.6% | · | |
| ROA | -16.9% | 3.6% | -2.9% | -36.8% | -0.64% | · | · | · | · | · | -35.3% | · | |
| ROE | -21.6% | 3.7% | -3.0% | -41.7% | -0.75% | · | · | · | · | · | -44.1% | · | |
| ROIC | -16.8% | 4.1% | -3.0% | -43.5% | -1.7% | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 3.7 | 8.3 | 3.6 | 5.2 | · | · | · | · | · | 9.2 | · | |
| Quick Ratio | 0.6 | 1.9 | 5.1 | 2.1 | 3.1 | · | · | · | · | · | 9.0 | · | |
| Debt / Equity | 0.3 | 0.2 | · | · | · | · | · | · | · | · | 0.0 | · | |
| LT Debt / Equity | 0.2 | 0.2 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | -75.5 | · | · | · | · | · | -88.4 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | · | · | · | · | · | 0.0 | · | |
| Receivables Turnover | 22.8 | 14.5 | 10.9 | 11.7 | 22.4 | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $7.69 | $9.12 | $8.18 | $6.86 | $11.63 | · | · | · | · | · | $0.52 | · | |
| Revenue / Share | $1.90 | $1.18 | $1.60 | $1.86 | $2.28 | · | · | · | · | · | · | · | |
| Cash Flow / Share | $-1.68 | $-0.80 | $0.19 | $0.00 | $-0.92 | · | · | · | · | · | · | · | |
| Cash / Share | $0.63 | $0.81 | $2.59 | $1.37 | $2.68 | · | · | · | · | · | $0.06 | · | |
| EPS (TTM) | $-1.95 | $0.34 | $-0.28 | $-3.65 | $-0.17 | $-0.33 | $-1.02 | · | · | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 71.9% | 34.2% | 8.3% | 21.5% | 1665.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 35.7% | 20.9% | 185.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 121.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $647M | $377M | $281M | $259M | $213M | $12M | $7M | $8M | $269.7K | · | $101.4K | $167.0K | |
| Net Income TTM | $-663M | $109M | $-49M | $-510M | $-15M | $-14M | $-20M | $-58M | $-20M | $-4M | $-9M | $-10M | |
| Market Cap | $4.71B | $3.52B | $3.57B | $569M | $2.61B | · | · | · | · | · | · | · | |
| Enterprise Value | $5.32B | $3.83B | · | · | · | · | · | · | · | · | · | · | |
| P/E | -6.5 | 30.0 | -55.2 | -0.9 | -131.4 | -51.5 | -1.1 | · | · | · | · | · | |
| P/S | 7.3 | 9.3 | 12.7 | 2.2 | 12.2 | · | · | · | · | · | · | · | |
| P/B | 1.6 | 1.1 | 1.9 | 0.5 | 1.9 | · | · | · | · | · | · | · | |
| P / Tangible Book | 1.7 | 1.2 | 1.9 | 0.5 | 2.6 | 4.8 | · | · | · | · | · | · | |
| P / Cash Flow | -8.2 | -13.8 | 107.9 | 1073.0 | -30.2 | · | · | · | · | · | · | · | |
| P / FCF | -6.1 | -7.1 | -22.2 | -3.8 | -11.2 | · | · | · | · | · | · | · | |
| EV / EBITDA | -19.0 | 10.6 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | -6.9 | -7.7 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 8.2 | 10.2 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -15.4% | 3.3% | -1.8% | -107.7% | -0.76% | -1.9% | -91.1% | · | · | · | · | · | |
| Annual Payout | · | · | · | · | · | · | · | · | $10M | · | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $174M | $167M | $153M | $180M | $153M | $161M | $143M | $85M | $70M | $79M | $79M | $52M | $77M | $73M | $60M | $46M | |
| SG&A Expense | $82M | $76M | $82M | $70M | $76M | $71M | $81M | $67M | $61M | $58M | $39M | $29M | $20M | $13M | $30M | $16M | |
| Operating Expenses | $414M | $667M | $837M | $100M | $-63M | $395M | $-46M | $206M | $187M | $-125M | $45M | $134M | $109M | $56M | $223M | $82M | |
| Operating Income | $-239M | $-500M | $-684M | $80M | $216M | $-234M | $188M | $-122M | $-117M | $204M | $34M | $-83M | $-32M | $17M | $-162M | $-36M | |
| Interest Income | · | · | · | $163.0K | $155.0K | $150.0K | · | $145.0K | $137.0K | $135.0K | · | · | · | · | · | · | |
| Other Non-op | $1M | $-12.0K | $1M | $1M | $244.0K | $93.0K | $732.0K | $90.0K | $33.0K | $8.0K | $-3M | $2M | $5M | $-4M | $8M | $490.0K | |
| Income Tax | · | · | · | · | · | · | $679.0K | $32.0K | $55.0K | $-22.0K | $-79.0K | $-157.0K | $112.0K | $-5M | $-3M | $-3M | |
| Net Income | $-237M | $-500M | $-691M | $104M | $219M | $-296M | $136M | $-154M | $-84M | $212M | $39M | $-80M | $-27M | $19M | $-160M | $-32M | |
| EPS (Basic) | $-0.68 | $-1.44 | $-2.00 | $0.30 | $0.65 | $-0.90 | $0.75 | $-0.54 | $-0.32 | $0.51 | $0.21 | $-0.44 | $-0.16 | $0.11 | $-1.04 | $-0.21 | |
| EPS (Diluted) | $-0.68 | $-1.44 | $-1.89 | $0.26 | $0.58 | $-0.90 | $0.69 | $-0.54 | $-0.32 | $0.51 | $0.21 | $-0.44 | $-0.16 | $0.11 | $-1.04 | $-0.21 | |
| Shares (Basic) | 347,695,985 | 347,624,244 | · | 347,085,375 | 336,278,380 | 329,508,458 | · | 286,243,674 | 264,625,308 | 249,711,377 | · | 180,952,689 | 167,342,813 | 167,342,500 | · | 153,895,123 | |
| Shares (Diluted) | 347,695,985 | 347,624,244 | · | 403,179,486 | 382,677,364 | 329,508,458 | · | 286,243,674 | 264,625,308 | 249,711,377 | · | 180,952,689 | 167,342,813 | 172,114,333 | · | 153,895,123 | |
| EBITDA | $-239M | $-500M | · | $80M | $216M | $-234M | · | $-122M | $-117M | $204M | · | $-48M | $-32M | $-57M | · | $-13M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $471M | $206M | $234M | $331M | $255M | $164M | $278M | $356M | $481M | $688M | $597M | $290M | $289M | $158M | $230M | $255M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Receivables | $42M | $67M | $30M | $27M | $25M | $20M | $27M | $15M | $14M | $14M | · | $13M | $13M | $20M | · | $17M | |
| Prepaid Expense | $96M | $76M | $59M | $47M | $50M | $45M | $40M | $31M | $31M | $34M | · | $36M | $20M | $22M | · | $22M | |
| Current Assets | $726M | $463M | $449M | $529M | $516M | $450M | $599M | $717M | $744M | $785M | · | $513M | $483M | $366M | · | $477M | |
| PP&E (Net) | $1.55B | $1.59B | $1.53B | $1.36B | $1.30B | $1.31B | $1.34B | $1.17B | $1.04B | $822M | · | $668M | $700M | $717M | · | $650M | |
| PP&E (Gross) | $2.17B | $2.15B | $2.13B | $1.90B | $1.87B | $1.81B | $1.79B | $1.64B | $1.46B | $1.21B | · | $967M | $944M | $897M | · | $730M | |
| Accum. Depreciation | $618M | $562M | $605M | $540M | $566M | $501M | $446M | $471M | $422M | $390M | · | $299M | $244M | $180M | · | $80M | |
| Goodwill | $122M | $122M | $122M | $122M | $122M | $122M | $122M | $97M | · | · | · | · | · | · | · | · | |
| Intangibles | $28M | $29M | $30M | $31M | $32M | $33M | $34M | $11M | $13M | $14M | · | $17M | $19M | $20M | · | $13M | |
| Total Assets | $3.26B | $3.44B | $3.94B | $4.48B | $4.29B | $3.72B | $3.94B | $2.92B | $2.72B | $2.61B | · | $1.46B | $1.36B | $1.25B | · | $1.45B | |
| Accounts Payable | $18M | $11M | $23M | $13M | $18M | $8M | $18M | $13M | $5M | $14M | · | $9M | $13M | $20M | · | $13M | |
| Accrued Liabilities | · | · | $143M | $60M | $70M | $72M | $76M | $45M | $54M | $44M | · | $25M | $27M | $83M | · | $34M | |
| Current Liabilities | $458M | $429M | $470M | $359M | $375M | $139M | $160M | $126M | $97M | $93M | · | $71M | $74M | $112M | · | $107M | |
| Capital Leases | $25M | $26M | $20M | $26M | $25M | $28M | $24M | $21M | $20M | $21M | · | $20M | $20M | $21M | · | $21M | |
| Deferred Tax | · | · | $56M | · | · | · | $215M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $165.0K | $373.0K | $19.0K | $25.0K | $34.0K | $6M | $6M | $6M | $6M | $7M | · | $7M | $7M | $7M | · | $8M | |
| Total Liabilities | $1.07B | $1.04B | $1.08B | $974M | $989M | $774M | $792M | $173M | $139M | $136M | · | $115M | $118M | $158M | · | $154M | |
| Long-term Debt | $5M | $5M | $841M | $5M | $5M | $5M | $585M | $6M | · | · | · | · | · | · | · | · | |
| Total Debt | $843M | $842M | · | $840M | $838M | $585M | · | $6M | · | · | · | · | · | · | · | · | |
| Common Stock | $4.28B | $4.25B | $4.21B | $4.17B | $4.06B | $3.93B | $3.83B | $3.58B | $3.26B | $3.06B | · | $2.23B | $2.08B | $1.90B | · | $1.89B | |
| Retained Earnings | $-2.09B | $-1.85B | $-1.35B | $-663M | $-767M | $-987M | $-690M | $-827M | $-672M | $-588M | · | $-885M | $-840M | $-812M | · | $-592M | |
| AOCI | · | · | · | $221.0K | $195.0K | $245.0K | $222.0K | $189.0K | $-19.0K | $9.0K | · | · | · | · | · | · | |
| Stockholders' Equity | $2.19B | $2.39B | $2.86B | $3.50B | $3.30B | $2.94B | $3.14B | $2.75B | $2.58B | $2.48B | $1.89B | $1.34B | $1.24B | $1.09B | $1.15B | $1.30B | |
| Liabilities + Equity | $3.26B | $3.44B | $3.94B | $4.48B | $4.29B | $3.72B | $3.94B | $2.92B | $2.72B | $2.61B | · | $1.46B | $1.36B | $1.25B | · | $1.45B | |
| Shares Outstanding | 378,022,964 | 378,978,341 | 371,575,652 | 371,116,270 | 363,234,107 | 350,184,294 | 344,890,208 | 324,280,388 | 283,674,768 | 267,991,956 | · | 196,300,944 | 182,250,554 | 166,966,766 | · | 167,296,912 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $98M | $98M | $103M | $83M | $83M | $78M | $82M | $60M | $37M | $32M | $62M | $65M | $66M | $59M | $45M | $27M | |
| Stock-based Comp | $36M | $39M | $33M | $33M | $30M | $30M | $31M | $31M | $32M | $32M | $18M | $14M | $3M | $-2M | $17M | $4M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $-5M | $-3M | $-3M | |
| Amort. of Intangibles | $900.0K | $900.0K | $1M | $900.0K | $1M | $1M | $1M | $2M | $1M | $2M | $2M | $2M | $1M | $1M | $1M | $400.0K | |
| Operating Cash Flow | $-90M | $-183M | $-106M | $-114M | $-231M | $-122M | $-98M | $-56M | $-43M | $-58M | $45M | $-6M | $-38M | $32M | $1M | $13M | |
| CapEx | $61M | $115M | $82M | $26M | $60M | $33M | $58M | $71M | $54M | $57M | $45M | $41M | $56M | $51M | $19M | $52M | |
| Investing Cash Flow | $357M | $158M | $-3M | $119M | $19M | $-59M | $-783M | $-205M | $-326M | $-194M | $-182M | $-125M | $-33M | $-74M | $-25M | $-59M | |
| Stock Issued | · | · | $13M | $76M | $54M | $70M | $231M | $219M | $174M | $353M | $454M | $136M | · | · | $0 | $32M | |
| Stock Repurchased | $499.0K | $2M | $1M | $3M | $103.0K | $484.0K | $84.0K | $709.0K | $9M | $2M | $110.0K | $974.0K | $12M | $1M | $265.0K | $1M | |
| Net Stock Activity | · | $-2M | · | · | · | $70M | · | · | · | $351M | · | · | · | $-1M | · | · | |
| Financing Cash Flow | $-499.0K | $-2M | $11M | $71M | $304M | $68M | $804M | $209M | $161M | $344M | $444M | $132M | $173M | $-933.0K | $-450.0K | $30M | |
| Taxes Paid | $30.0K | $30.0K | $-63.0K | $152.0K | $840.0K | $31.0K | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $-298M | · | · | · | $-155M | · | · | · | $-115M | · | · | · | $-19M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -137.4% | -298.9% | · | 44.4% | 141.3% | -144.9% | · | -143.3% | -167.2% | 257.2% | · | -92.2% | -42.3% | -77.6% | · | -86.4% | |
| Net Margin | -136.1% | -299.3% | · | 58.0% | 143.5% | -183.6% | · | -182.1% | -120.6% | 267.1% | · | -87.4% | -36.1% | -76.0% | · | -79.0% | |
| EBITDA Margin | -137.4% | -298.9% | · | 44.4% | 141.3% | -144.9% | · | -143.3% | -167.2% | 257.2% | · | -92.2% | -42.3% | -77.6% | · | -29.1% | |
| ROA | -6.3% | -14.0% | · | 2.8% | 6.3% | -9.4% | · | -7.0% | -4.1% | 11.0% | · | -3.1% | -2.0% | -4.0% | · | -3.0% | |
| ROE | -8.6% | -18.8% | · | 3.3% | 7.5% | -10.9% | · | -7.5% | -4.4% | 11.9% | · | -3.4% | -2.2% | -4.5% | · | -3.5% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.1 | · | 1.5 | 1.4 | 3.2 | · | 5.7 | 7.6 | 8.5 | · | 7.2 | 6.5 | 3.3 | · | 4.5 | |
| Quick Ratio | 1.1 | 0.6 | · | 1.0 | 0.7 | 1.3 | · | 2.9 | 5.1 | 7.6 | · | 4.3 | 4.1 | 1.6 | · | 2.6 | |
| Debt / Equity | 0.4 | 0.4 | · | 0.2 | 0.3 | 0.2 | · | 0.0 | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.0 | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.0 | |
| Receivables Turnover | 5.1 | 3.9 | · | 8.6 | 7.8 | 9.6 | · | 6.0 | 5.2 | 4.7 | · | 3.5 | 5.2 | 4.1 | · | 4.4 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $5.80 | $6.32 | · | $9.44 | $9.07 | $8.41 | · | $8.48 | $9.11 | $9.24 | · | $6.83 | $6.81 | $6.54 | · | $7.77 | |
| Revenue / Share | $0.50 | $0.48 | · | $0.45 | $0.40 | $0.49 | · | $0.30 | $0.26 | $0.30 | · | $0.29 | $0.46 | $0.44 | · | $0.30 | |
| Cash Flow / Share | · | $-0.53 | · | · | · | $-0.37 | · | · | · | $-0.22 | · | · | · | $0.19 | · | · | |
| Cash / Share | $1.25 | $0.54 | · | $0.89 | $0.70 | $0.47 | · | $1.10 | $1.70 | $2.57 | · | $1.48 | $1.59 | $0.95 | · | $1.52 | |
| EPS (TTM) | $-3.75 | $-2.49 | · | $0.63 | $-0.17 | $-1.07 | · | $-0.14 | $-0.04 | $0.12 | · | $-1.53 | $-1.30 | $-3.85 | · | $-2.93 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $675M | $653M | · | $637M | $542M | $459M | · | $313M | $280M | $287M | · | $262M | $256M | $253M | · | $290M | |
| Net Income TTM | $-1.32B | $-867M | · | $164M | $-95M | $-399M | · | $12M | $87M | $144M | · | $-249M | $-201M | $-528M | · | $-376M | |
| Market Cap | $10.35B | $4.68B | · | $7.06B | $4.10B | $2.49B | · | $2.41B | $2.59B | $3.28B | · | $1.83B | $2.15B | $1.67B | · | $1.17B | |
| Enterprise Value | $10.72B | $5.32B | · | $7.57B | $4.69B | $2.91B | · | $2.06B | · | · | · | · | · | · | · | · | |
| P/E | -7.3 | -5.0 | · | 30.2 | -66.5 | -6.7 | · | -53.0 | -228.5 | 102.0 | · | -6.1 | -9.1 | -2.6 | · | -2.4 | |
| P/S | 15.3 | 7.2 | · | 11.1 | 7.6 | 5.4 | · | 7.7 | 9.3 | 11.4 | · | 7.0 | 8.4 | 6.6 | · | 4.0 | |
| P/B | 4.7 | 2.0 | · | 2.0 | 1.2 | 0.8 | · | 0.9 | 1.0 | 1.3 | · | 1.4 | 1.7 | 1.5 | · | 0.9 | |
| P / Tangible Book | 5.1 | 2.1 | · | 2.1 | 1.3 | 0.9 | · | 0.9 | 1.0 | 1.3 | · | 1.4 | 1.8 | 1.6 | · | 0.9 | |
| P / Cash Flow | · | -25.6 | · | · | · | -20.4 | · | · | · | -56.7 | · | · | · | 51.5 | · | · | |
| EV / Revenue | 15.9 | 8.1 | · | 11.9 | 8.7 | 6.4 | · | 6.6 | · | · | · | · | · | · | · | · | |
| Earnings Yield | -13.7% | -20.2% | · | 3.3% | -1.5% | -15.0% | · | -1.9% | -0.44% | 0.98% | · | -16.4% | -11.0% | -38.5% | · | -41.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Revenue | $647M | $377M | $281M | $259M | · |
| Operating Margin % | -96.1% | 40.8% | -22.5% | -197.8% | · |
| Net Income | $-663M | $109M | $-49M | $-510M | · |
| Diluted EPS | $-1.95 | $0.34 | $-0.28 | $-3.65 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.2 | · | · | · |
| Current Ratio | 1.0 | 3.7 | 8.3 | 3.6 | · |
| Quick Ratio | 0.6 | 1.9 | 5.1 | 2.1 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|
| Free Cash Flow | $-774M | $-495M | $-161M | $-148M | · |
Institutional owners (13F) 541 filers · $10.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
541
Value held
$10.3B
New positions
123
Exited positions
55
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 123 (+20 vs prior Q) | 55 (-15 vs prior Q) | 164 (+11 vs prior Q) | 149 (+17 vs prior Q) | +34.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $875,736,874 | 31,984,547 | 8.51% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $594,834,032 | 21,725,129 | 5.78% | Shares |
| FMR LLC | $537,888,172 | 19,645,295 | 5.23% | Shares |
| VANGUARD GROUP INC | $505,661,841 | 39,910,169 | 4.91% | Shares |
| Situational Awareness LP | $468,198,000 | 17,100,000 | 4.55% | Shares |
| JANE STREET GROUP, LLC | $460,698,974 | 16,826,113 | 4.48% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $414,701,258 | 15,146,138 | 4.03% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $287,792,354 | 9,275,453 | 2.80% | Shares |
| Starboard Value LP | $276,937,091 | 10,114,576 | 2.69% | Shares |
| STATE STREET CORP | $258,428,787 | 9,438,485 | 2.51% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $191,335,703 | 6,987,744 | 1.86% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $180,108,378 | 6,578,100 | 1.75% | Call option |
| TOMS Capital Investment Management LP | $160,857,500 | 5,875,000 | 1.56% | Shares |
| D. E. Shaw & Co., Inc. | $149,363,376 | 5,455,200 | 1.45% | Shares |
| BANK OF AMERICA CORP /DE/ | $142,978,859 | 5,222,018 | 1.39% | Shares |
| Situational Awareness Partners LP | $142,166,413 | 11,502,137 | 1.38% | Shares |
| MIZUHO MARKETS AMERICAS LLC | $140,757,568 | 5,140,890 | 1.37% | Shares |
| NOMURA HOLDINGS INC | $134,636,824 | 4,917,342 | 1.31% | Shares |
| AMERICAN CENTURY COMPANIES INC | $125,502,675 | 4,583,733 | 1.22% | Shares |
| JANE STREET GROUP, LLC | $123,971,164 | 4,527,800 | 1.20% | Put option |
| TOMS Capital Investment Management LP | $123,210,000 | 4,500,000 | 1.20% | Call option |
| CITADEL ADVISORS LLC | $118,549,924 | 4,329,800 | 1.15% | Call option |
| GOLDMAN SACHS GROUP INC | $116,075,984 | 4,239,444 | 1.13% | Shares |
| Invesco Ltd. | $108,400,240 | 3,959,103 | 1.05% | Shares |
| JANE STREET GROUP, LLC | $105,465,022 | 3,851,900 | 1.02% | Call option |
| Point72 Asset Management, L.P. | $101,713,387 | 3,714,879 | 0.99% | Shares |
| TWO SIGMA INVESTMENTS, LP | $99,458,124 | 3,632,510 | 0.97% | Shares |
| MORGAN STANLEY | $93,792,225 | 3,425,574 | 0.91% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $93,427,624 | 3,412,258 | 0.91% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $92,917,398 | 3,393,623 | 0.90% | Shares |
| Value Aligned Research Advisors, LLC | $90,095,095 | 3,290,544 | 0.88% | Shares |
| NORTHERN TRUST CORP | $89,755,062 | 3,278,125 | 0.87% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $88,595,273 | 3,235,766 | 0.86% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $88,563,348 | 3,234,600 | 0.86% | Put option |
| AMERIPRISE FINANCIAL INC | $87,231,222 | 3,185,945 | 0.85% | Shares |
| Sachem Head Capital Management LP | $78,443,700 | 2,865,000 | 0.76% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $75,240,322 | 2,748,003 | 0.73% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $73,078,917 | 2,669,062 | 0.71% | Shares |
| Egerton Capital (UK) LLP | $71,974,655 | 2,628,731 | 0.70% | Shares |
| PEAK6 LLC | $69,282,352 | 2,530,400 | 0.67% | Call option |
| VAN ECK ASSOCIATES CORP | $64,599,687 | 2,359,375 | 0.63% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $62,812,403 | 2,294,098 | 0.61% | Shares |
| CITADEL ADVISORS LLC | $54,638,104 | 1,995,548 | 0.53% | Shares |
| CIBC Bancorp USA Inc. | $51,208,075 | 1,870,273 | 0.50% | Shares |
| MILLENNIUM MANAGEMENT LLC | $45,858,762 | 1,674,900 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $45,174,262 | 1,649,900 | 0.44% | Put option |
| WOLVERINE ASSET MANAGEMENT LLC | $44,202,272 | 1,614,400 | 0.43% | Put option |
| Parallax Volatility Advisers, L.P. | $44,109,180 | 1,611,000 | 0.43% | Call option |
| Columbus Hill Capital Management, L.P. | $42,922,449 | 1,567,657 | 0.42% | Shares |
| WOLVERINE TRADING, LLC | $42,487,440 | 2,148,000 | 0.41% | Call option |
Activists & 5%+ owners 7 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Barry Honig ×9 filings | April 19, 2018 | · | Initial filing | · | SEC |
| Catherine Johanna DeFrancesco ×9 filings | Jan. 10, 2017 | · | Initial filing | · | SEC |
| MGT Capital Investments, Inc., Robert B. Ladd ×3 filings | Sept. 2, 2016 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 6, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 14, 2006 | · | Initial filing | · | SEC |
| Talon Asset Management, Inc., Talon Opportunity Partners, L.P., Talon Opportunity Managers, L.L.C. | May 13, 2005 | · | Initial filing | · | SEC |
| Howard Lieber (2) | June 27, 2003 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 52 insiders · 22 officers · 22 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jason Les | CEO | July 31, 2026 F | 4,944,637 | 0 | 2 | $-6,294,983 |
| Christopher Ensey | Interim CEO | Sept. 20, 2018 M | 0 | 0 | 0 | $0 |
| John R. O'Rourke III | President, CEO, Chairman | Dec. 29, 2017 S | 12,500 | 0 | 0 | $0 |
| Steve Lundy | President, CEO | Feb. 3, 2017 A | 20,500 | 0 | 0 | $0 |
| Richard G Donnelly | President & CEO | Jan. 27, 2009 A | 7,000 | 0 | 0 | $0 |
| Robby Sai Kit Chang | Chief Financial Officer | Sept. 20, 2018 M | 72,000 | 0 | 0 | $0 |
| Stephen Mitchell Howell Jr. | COO | Aug. 12, 2026 G | 1,834,408 | 0 | 0 | $0 |
| Lyle Joseph Theriot | The Reporting Person is the Chief Operating Officer of Whinstone US, Inc., a wholly owned subsidiary of Riot Blockchain, Inc. | July 13, 2022 A | 55,623 | 0 | 0 | $0 |
| Megan M. Brooks | Effective as of April 7, 2022, the Reporting Person resigned as the Issuer's Chief Operating Officer and from all other position | July 13, 2022 M | 179,596 | 0 | 0 | $0 |
| Robert Frederick Caspari | COO & Chief Medical Officer | Jan. 19, 2010 A | 3,200 | 0 | 0 | $0 |
| Ryan D. Werner | SVP, CAO | Aug. 5, 2026 S | 699,493 | 0 | 8 | $-3,547,691 |
| Jonathan Gibbs | Effective as of April 12, 2026, the Reporting Person has departed from his position as the Issuer's Chief Data Center Officer. | April 12, 2026 D | 84,989 | 0 | 0 | $0 |
| Jason Chung | EVP, CORP DEV | Jan. 1, 2026 A | 3,129,142 | 0 | 0 | $0 |
| William Richard Jackman | CHIEF LEGAL OFFICER (CLO) | Jan. 1, 2026 A | 2,853,105 | 0 | 1 | $-3,916,091 |
| Soo Il Benjamin Yi | EXECUTIVE CHAIRMAN | Jan. 1, 2026 A | 9,638,339 | 0 | 0 | $0 |
| Chad Everett Harris | Effective as of February 1, 2023, the Reporting Person has departed from his position as the Issuer's Chief Commercial Officer a | Feb. 1, 2023 D | 14,400 | 0 | 0 | $0 |
| Jeffrey Mcgonegal | Senior Advisor | Jan. 11, 2023 F | 876,280 | 0 | 0 | $0 |
| Richard J. Whitcomb | Senior Vice President | Sept. 21, 2016 A | · | 0 | 0 | $0 |
| Donald R Hurd | SVP & Chief Commercial Officer | Jan. 12, 2015 A | 50,000 | 0 | 0 | $0 |
| Gregory Pusey | VP, Investor Relations | Dec. 11, 2012 A | 21,704 | 0 | 0 | $0 |
| Gregory L Bennett | SVP Manufacturing & Prod Dev | July 8, 2011 A | · | 0 | 0 | $0 |
| Mark Colgin | Chief Scientific Officer | Jan. 5, 2011 A | · | 0 | 0 | $0 |
| Douglas Mouton | Director | July 1, 2026 A | 44,834 | 0 | 0 | $0 |
| Michael John Turner | Director | July 1, 2026 A | 36,450 | 0 | 0 | $0 |
| Jaime Leverton | Director | July 1, 2026 A | 36,450 | 0 | 0 | $0 |
| Lance Varro D'Ambrosio | Director | July 1, 2026 A | 68,891 | 0 | 0 | $0 |
| Hannah Cho | Director | March 14, 2025 S | 59,265 | 0 | 0 | $0 |
| Hubert Marleau | Director | March 3, 2025 S | 5,000 | 0 | 0 | $0 |
| Andrew J Kaplan | Director | Sept. 20, 2018 M | 41,500 | 0 | 0 | $0 |
| Mike Dai | Director | Aug. 21, 2017 A | 7,499 | 0 | 0 | $0 |
| Michael W Routh | Director | Nov. 30, 2016 A | · | 0 | 0 | $0 |
| Stephen Alaric Williams | Director | May 9, 2016 A | · | 0 | 0 | $0 |
| David E Welch | Director | May 9, 2016 A | · | 0 | 0 | $0 |
| Daryl Faulkner | Director | May 9, 2016 A | 10,000 | 0 | 0 | $0 |
| Gail Schoettler | Director | May 9, 2016 A | 3,000 | 0 | 0 | $0 |
| John H Landon | Director | Jan. 12, 2015 A | · | 0 | 0 | $0 |
| Michael R Merson | Director | June 29, 2012 P | 1,180 | 0 | 0 | $0 |
| Douglas I Hepler | Director | April 2, 2012 A | 41,300 | 0 | 0 | $0 |
| Mark J Ratain | Director | April 2, 2012 A | · | 0 | 0 | $0 |
| Northern Data AG | 10% owner | Sept. 2, 2021 S | 6,949,992 | 0 | 0 | $0 |
| Barry C Honig | 10% owner | Jan. 4, 2017 P | 443,585 | 0 | 0 | $0 |
| Brian E Peierls | 10% owner | April 17, 2007 X | 2,044,728 | 0 | 0 | $0 |
| Peierls Foundation, Inc. | 10% owner | April 17, 2007 X | 2,044,728 | 0 | 0 | $0 |
| Jeffrey E Peierls | 10% owner | April 17, 2007 X | 2,044,728 | 0 | 0 | $0 |
| Roaring Fork Capital SBIC, L.P. | 10% owner | Dec. 26, 2006 S | 768,624 | 0 | 0 | $0 |
| Roger Hurst | 10% owner | Aug. 9, 2006 P | 1,784,500 | 0 | 0 | $0 |
| Cathy Landmann | 10% owner | Sept. 30, 2003 D | 585,060 | 0 | 0 | $0 |
| Colin M. Yee | · | July 1, 2026 M | 428,435 | 0 | 0 | $0 |
| Remo Mancini | · | Nov. 16, 2020 M | 471,544 | 0 | 0 | $0 |
| Michael Martin Beeghley | · | Nov. 3, 2017 A | 177,918 | 0 | 0 | $0 |
| Susan A Evans | · | May 9, 2016 A | · | 0 | 0 | $0 |
| Erik Miller | · | April 30, 2012 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| HECO · SSGA Active Trust | 12.24% | 496,846 NS | July 31, 2026 | N-PORT |
| DECO · SSGA Active Trust | 12.20% | 123,975 NS | July 31, 2026 | N-PORT |
| TEKX · SSGA Active Trust | 12.19% | 96,444 NS | July 31, 2026 | N-PORT |
| LFGY · Tidal Trust II | 5.06% | 229,062 NS | July 31, 2026 | N-PORT |
| IBLC · iShares Trust | 3.98% | 162,353 SH | Sept. 11, 2026 | Daily |
| CEPI · ETF Opportunities Trust | 2.82% | 153,873 NS | July 31, 2026 | N-PORT |
| SATO · Invesco Exchange-Traded Fund Trust … | 1.90% | 8,224 SH | Oct. 2, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.59% | 167,615 NS | July 31, 2026 | N-PORT |
| JSML · Janus Detroit Street Trust | 0.44% | 79,781 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.38% | 253,152 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.33% | 2,226,140 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.30% | 2,055,193 SH | Aug. 19, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.29% | 12,559 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.28% | 95,550 NS | July 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.28% | 188,096 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.26% | 4,509,324 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.25% | 9,144,773 SH | Sept. 11, 2026 | Daily |
| IGV · iShares Trust | 0.23% | 1,474,777 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.23% | 170,994 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.21% | 105,298 SH | Aug. 19, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.18% | 50,327 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.16% | 1,250,494 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.13% | 59,854 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.11% | 7,806,604 SH | Aug. 19, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.10% | 3,701,193 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.09% | 120,895 SH | Sept. 11, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.09% | 5,640,557 SH | Aug. 19, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.08% | 741,100 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.07% | 21,462 SH | Sept. 11, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.04% | 831,068 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 20,742 SH | Aug. 19, 2026 | Daily |
| IGM · iShares Trust | 0.03% | 151,610 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.02% | 40,753 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.02% | 25,978 NS | July 31, 2026 | N-PORT |
| ESGV · VANGUARD WORLD FUND | 0.02% | 78,757 SH | Aug. 19, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.01% | 80,847 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 13,118 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 111,159 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 10,809,144 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 291,724 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 29,583 SH | Aug. 19, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 93,663 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 436,334 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.01% | 1,890 NS | July 31, 2026 | N-PORT |
| BLOX · Tidal Trust II | 0.00% | 36 NS | July 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | -0.19% | -229,553 NS | July 31, 2026 | N-PORT |
| IWN · iShares Trust | · | 1,133,995 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 15,717 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 36,294 SH | Sept. 11, 2026 | Daily |
RIOT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 28 analysts
BUY
Median target
$31.00
+57.1%
6 21.4%
Strong Buy
20 71.4%
Buy
2 7.1%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
22 analysts · 2026-09-30Mean target $32.52 +64.8%
← Below all targets
Current price $19.73
Low$22.00
Mean$32.52
High$45.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RIOT | $4.71B | -6.5 | 71.9% | -102.4% | -21.6% | · |
| PCOR | $11.04B | -108.6 | 14.8% | -7.6% | -8.1% | 79.5% |
| YOU | · | · | 16.9% | 12.1% | 58.1% | · |
| DBX | $6.75B | 14.9 | -1.1% | 20.2% | -32.8% | 80.1% |
| APPF | · | 60.0 | 19.7% | 14.8% | 28.2% | · |
| RNG | · | 60.2 | 4.8% | · | · | · |
| CIFR | $5.98B | -6.9 | 48.0% | -367.2% | -105.8% | · |
| TTAN | · | -46.1 | 24.5% | · | · | · |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
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Source: SEC 10-Q filed Aug 10, 2026