WULF

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TeraWulf Inc.

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Key Metrics

Previous Close: $15.50
52-Week Range: $8.60 – $29.84
Market Cap: $8.21B
P/E (TTM): —
EPS (TTM): -4.74
Dividend Yield: —

Advanced Metrics

Price/Book: 55.76
PEG Ratio: —
Return on Equity: -1211.81%
Return on Assets: -4.79%
Gross Margin: 69.26%
Operating Margin: -307.04%
Profit Margin: 0.00%
Current Ratio: 0.75
Debt/Equity: 35.50
Total Debt: $5.24B
Free Cash Flow: $-234.12M
Revenue Growth: -6.00%
Earnings Growth: —
Enterprise Value: $10.83B

WULF Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$15.03M	$69.23M	$140.05M	$168.46M
Cost of Revenue	$11.08M	$27.32M	$62.61M	$82.66M
Gross Profit	$3.95M	$41.91M	$77.44M	$85.79M
Selling, General & Admin	$36.05M	$37.02M	$70.58M	$147.76M
Operating Expenses	$46.81M	$70.26M	$138.03M	$256.10M
Operating Income	-$42.86M	-$28.34M	-$60.59M	-$170.31M
EBITDA	-$38.83M	$161.00K	-$17.41M	-$483.91M
Pretax Income	-$70.48M	-$64.00M	-$98.38M	-$657.21M
Income Tax	-$256.00K	$0.00	$0.00	$76.00K
Net Income	-$90.79M	-$73.42M	-$72.42M	-$661.42M
Diluted EPS	-0.82	-0.35	-0.21	-1.66
Diluted Shares	110.64M	209.96M	351.32M	397.61M

WULF Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.28M	$54.44M	$274.06M	$3.27B
Receivables	$0.00	$1.00M	$4.27M	$4.61M
Current Assets	$14.14M	$62.59M	$281.43M	$3.48B
Total Assets	$317.69M	$378.11M	$787.51M	$6.56B
Current Liabilities	$126.02M	$154.66M	$51.84M	$1.74B
Long-Term Debt	$72.97M	$56.00K	$487.50M	$4.64B
Total Debt	$129.31M	$124.47M	$491.25M	$5.20B
Total Liabilities	$199.93M	$155.62M	$543.07M	$6.42B
Retained Earnings	-$186.47M	-$259.89M	-$332.28M	-$993.69M
Shareholders' Equity	$117.75M	$222.49M	$244.44M	$140.44M
Working Capital	-$111.88M	-$92.08M	$229.59M	$1.74B
Net Debt	$127.04M	$69.08M	$213.44M	$1.90B

WULF Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$34.07M	$4.26M	-$24.42M	-$123.18M
Capital Expenditure	-$72.86M	-$75.17M	-$267.94M	-$1.06B
Free Cash Flow	-$106.92M	-$70.91M	-$292.36M	-$1.18B
Depreciation & Amortisation	$6.97M	$29.35M	$61.18M	$93.05M
Stock-Based Compensation	$1.57M	$5.86M	$30.93M	$50.91M
Investing Cash Flow	-$94.05M	-$78.01M	-$91.16M	-$1.37B
Financing Cash Flow	$89.98M	$119.87M	$335.21M	$4.94B
Share Repurchases	$0.00	$0.00	-$118.22M	-$33.30M
Net Change in Cash	-$38.13M	$46.12M	$219.63M	$3.45B

WULF Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$34.41M	$47.64M	$50.58M	$35.84M	$34.01M
Cost of Revenue	$24.55M	$22.09M	$17.12M	$18.89M	$2.36M
Gross Profit	$9.85M	$25.54M	$33.45M	$16.94M	$31.65M
Selling, General & Admin	$50.14M	$14.29M	$16.68M	$66.65M	$127.76M
Operating Expenses	$69.48M	$35.70M	$47.34M	$103.58M	$168.10M
Operating Income	-$59.63M	-$10.16M	-$13.89M	-$86.63M	-$136.44M
EBITDA	-$41.11M	$5.18M	-$417.55M	-$30.43M	-$318.71M
Pretax Income	-$61.42M	-$18.37M	-$455.05M	-$122.37M	-$416.13M
Income Tax	$0.00	$0.00	$0.00	$76.00K	$28.00K
Net Income	-$61.42M	-$18.37M	-$455.05M	-$126.58M	-$427.63M
Diluted EPS	-0.16	-0.05	-1.13	—	-1.01
Diluted Shares	383.15M	386.90M	401.56M	—	423.00M

WULF Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$218.16M	$89.99M	$711.32M	$3.27B	$2.63B
Receivables	$5.10M	$5.70M	$11.91M	$4.61M	$5.60M
Current Assets	$230.05M	$99.11M	$729.10M	$3.48B	$2.87B
Total Assets	$841.16M	$869.41M	$2.45B	$6.56B	$7.01B
Current Liabilities	$120.93M	$151.30M	$705.85M	$1.74B	$2.38B
Long-Term Debt	$488.11M	$488.72M	$1.06B	$4.64B	$4.66B
Total Debt	$491.85M	$500.88M	$1.09B	$5.20B	$5.31B
Total Liabilities	$670.79M	$695.08M	$2.21B	$6.42B	$7.09B
Retained Earnings	-$393.69M	-$412.06M	-$867.11M	-$993.69M	-$1.42B
Shareholders' Equity	$170.38M	$174.33M	$247.34M	$140.44M	-$78.77M
Working Capital	$109.12M	-$52.19M	$23.25M	$1.74B	$482.56M
Net Debt	$269.95M	$398.72M	$348.85M	$1.90B	$2.66B

WULF Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$56.49M	-$54.81M	-$36.69M	-$88.17M	-$17.59M
Capital Expenditure	-$93.69M	-$119.94M	-$231.57M	-$614.99M	-$522.95M
Free Cash Flow	-$37.20M	-$174.75M	-$268.26M	-$703.16M	-$540.54M
Depreciation & Amortisation	$16.26M	$19.54M	$27.67M	$29.59M	$30.35M
Stock-Based Compensation	$38.67M	$1.30M	$4.34M	$6.59M	$101.42M
Investing Cash Flow	-$61.06M	-$71.03M	-$200.23M	-$1.04B	-$712.82M
Financing Cash Flow	-$51.33M	-$902.00K	$858.25M	$4.13B	$100.38M
Share Repurchases	-$33.29M	$0.00	-$12.00K	$0.00	$0.00
Net Change in Cash	-$55.90M	-$126.74M	$621.34M	$3.01B	-$630.03M

Market Snapshot

About

TeraWulf Inc. is a digital infrastructure company focused on cryptocurrency mining. The company operates energy-efficient Bitcoin mining facilities powered substantially by zero-carbon energy sources.