What is Mawson Infrastructure Group In's earnings per share (EPS)?

Mawson Infrastructure Group In (MIGI) reported diluted earnings per share of $-20.11 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Mawson Infrastructure Group In Financials

MIGI

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Mawson Infrastructure Group In (MIGI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Low Quality

0.29x

For every $1 of reported earnings, Mawson Infrastructure Group In generates $0.29 in operating cash flow (-$6.9M OCF vs -$23.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-5.7x

Mawson Infrastructure Group In earns $-5.7 in operating income for every $1 of interest expense (-$19.3M vs $3.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$26.1M

YoY-56.0%

5Y CAGR+42.4%

Mawson Infrastructure Group In generated $26.1M in revenue in fiscal year 2025. This represents a decrease of 56.0% from the prior year.

EBITDA

-$13.7M

YoY-3.3%

Mawson Infrastructure Group In's EBITDA was -$13.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.3% from the prior year.

Net Income

-$23.7M

YoY+48.7%

Mawson Infrastructure Group In reported -$23.7M in net income in fiscal year 2025. This represents an increase of 48.7% from the prior year.

EPS (Diluted)

$-20.11

Mawson Infrastructure Group In earned $-20.11 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 676.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$7.0M

YoY-539.2%

Mawson Infrastructure Group In generated -$7.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 539.2% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

Mawson Infrastructure Group In had 5M shares outstanding in fiscal year 2025. This represents a decrease of 70.8% from the prior year.

Margins & Returns

Gross Margin

66.5%

YoY+32.3pp

5Y CAGR+37.4pp

Mawson Infrastructure Group In's gross margin was 66.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 32.3 percentage points from the prior year.

Operating Margin

-74.0%

YoY-21.4pp

5Y CAGR-19.1pp

Mawson Infrastructure Group In's operating margin was -74.0% in fiscal year 2025, reflecting core business profitability. This is down 21.4 percentage points from the prior year.

Net Margin

-90.7%

YoY-12.9pp

5Y CAGR+23.0pp

Mawson Infrastructure Group In's net profit margin was -90.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.9 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$149K

YoY-92.4%

5Y CAGR-51.4%

10Y CAGR+47.8%

Mawson Infrastructure Group In invested $149K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 92.4% from the prior year.

MIGI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$26.1M-56.0%	$59.3M+36.0%	$43.6M-48.4%	$84.4M+92.4%	$43.9M+885.9%	$4.4M
Cost of Revenue	$22.4M-42.5%	$39.0M+6999525.0%	$557-98.8%	$45K-99.5%	$9.9M+213.9%	$3.2M
Gross Profit	$17.3M-14.5%	$20.3M+35.0%	$15.0M-59.1%	$36.7M+8.0%	$34.0M+2525.8%	$1.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	$434K
SG&A Expenses	$22.7M+23.7%	$18.3M-4.5%	$19.2M-25.8%	$25.9M+60.9%	$16.1M+546.7%	$2.5M
Operating Income	-$19.3M+38.1%	-$31.2M+48.4%	-$60.3M-36.8%	-$44.1M-3.3%	-$42.7M-1647.4%	-$2.4M
Interest Expense	$3.4M+8.7%	$3.1M+1.6%	$3.0M-49.7%	$6.1M+268.9%	$1.6M	N/A
Income Tax	$13K-98.7%	$977K-83.6%	$5.9M	N/A	$278K+115.9%	$129K
Net Income	-$23.7M+48.7%	-$46.1M+23.7%	-$60.4M-14.5%	-$52.8M-17.3%	-$45.0M-788.4%	-$5.1M
EPS (Diluted)	$-20.11	$-2.59+32.9%	$-3.86+7.2%	$-4.16	$-0.80	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$13.2M+38.2%	$9.5M-31.0%	$13.8M-8.3%	$15.1M+22.3%	$12.3M-6.1%	$13.1M-30.1%	$18.8M+33.9%	$14.0M
Cost of Revenue	$4.6M-17.6%	$5.6M-29.0%	$7.9M-24.2%	$10.4M+30.2%	$8.0M-9.1%	$8.8M-25.4%	$11.8M+160.7%	-$19.4M
Gross Profit	$8.6M+117.7%	$3.9M-33.6%	$5.9M+27.3%	$4.7M+7.8%	$4.3M0.0%	$4.3M-38.2%	$7.0M+43.1%	$4.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$5.8M-1.5%	$5.9M+2.5%	$5.8M+11.0%	$5.2M-13.2%	$6.0M+64.7%	$3.6M+5.1%	$3.5M-19.1%	$4.3M
Operating Income	$1.6M+124.0%	-$6.6M-1239.8%	$577K+110.9%	-$5.3M+53.5%	-$11.4M-68.7%	-$6.8M+12.2%	-$7.7M+47.8%	-$14.7M
Interest Expense	$868K+4.9%	$827K+5.4%	$785K-2.9%	$808K+0.9%	$802K+6.5%	$753K+2.5%	$735K-30.1%	$1.1M
Income Tax	$94K+623.1%	-$18K-116.3%	$110K+262.2%	-$68K+89.5%	-$649K-137.0%	$1.8M+3051.4%	-$59K	N/A
Net Income	$328K+104.1%	-$8.0M-2480.4%	-$311K+93.1%	-$4.5M+63.0%	-$12.2M-27.1%	-$9.6M+51.3%	-$19.8M-52.9%	-$12.9M
EPS (Diluted)	$0.01+102.5%	$-0.40-1900.0%	$-0.02	N/A	$-0.66-20.0%	$-0.55+53.8%	$-1.19	N/A

MIGI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	N/A	$61.4M-27.5%	$84.8M-36.4%	$133.3M-8.2%	$145.3M+1383.1%	$9.8M
Current Assets	N/A	$26.0M+29.1%	$20.1M-1.0%	$20.3M+77.7%	$11.4M+552.4%	$1.8M
Cash & Equivalents	N/A	$6.1M+36.0%	$4.5M+373.1%	$946K-82.7%	$5.5M+391.3%	$1.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$64.7M+18.9%	$54.4M-4.9%	$57.2M+86.1%	$30.7M+1276.2%	$2.2M
Current Liabilities	N/A	$61.9M+16.2%	$53.3M+50.1%	$35.5M+76.9%	$20.1M+815.0%	$2.2M
Long-Term Debt	N/A	$20.9M+41602.7%	$50K-98.9%	$4.5M	N/A	N/A
Total Equity	N/A	-$3.2M-111.1%	$29.2M-62.1%	$77.1M-32.8%	$114.7M+1411.4%	$7.6M
Retained Earnings	N/A	-$228.8M-25.3%	-$182.7M-49.4%	-$122.3M-71.9%	-$71.1M-171.9%	-$26.2M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$52.0M-1.4%	$52.7M-8.9%	$57.9M-5.8%	$61.4M+1.1%	$60.8M-7.4%	$65.6M-3.1%	$67.7M-20.1%	$84.8M
Current Assets	$21.2M+11.4%	$19.0M-6.0%	$20.2M-22.3%	$26.0M+12.6%	$23.1M-1.0%	$23.3M-2.2%	$23.9M+18.5%	$20.1M
Cash & Equivalents	$2.3M-29.7%	$3.2M-40.8%	$5.5M-10.2%	$6.1M+5.8%	$5.8M-15.1%	$6.8M+6.4%	$6.4M+42.4%	$4.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$61.4M+0.6%	$61.1M+3.0%	$59.3M-8.3%	$64.7M+3.8%	$62.3M+1.8%	$61.2M+11.9%	$54.7M+0.6%	$54.4M
Current Liabilities	$59.9M+1.1%	$59.3M+4.1%	$56.9M-8.1%	$61.9M+4.7%	$59.2M+2.4%	$57.8M+6.6%	$54.2M+1.7%	$53.3M
Long-Term Debt	N/A	N/A	N/A	$20.9M	N/A	$393K+847.1%	$42K-17.3%	$50K
Total Equity	-$9.4M-12.8%	-$8.3M-477.5%	-$1.4M+55.4%	-$3.2M-108.1%	-$1.6M-135.3%	$4.4M-66.2%	$13.0M-55.5%	$29.2M
Retained Earnings	-$236.8M+0.1%	-$237.1M-3.5%	-$229.1M-0.1%	-$228.8M-2.0%	-$224.3M-5.8%	-$212.0M-4.8%	-$202.4M-10.8%	-$182.7M

MIGI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$6.9M-293.7%	$3.6M+239.9%	-$2.5M-117.9%	$14.3M-37.9%	$23.0M+12501.0%	-$185K
Capital Expenditures	$149K-92.4%	$2.0M-63.4%	$5.4M-89.3%	$50.0M-34.9%	$76.8M+1294.5%	$5.5M
Free Cash Flow	-$7.0M-539.2%	$1.6M+120.3%	-$7.9M+77.9%	-$35.7M+33.7%	-$53.9M-845.9%	-$5.7M
Investing Cash Flow	-$110K+90.2%	-$1.1M-110.4%	$10.7M+133.0%	-$32.5M+74.6%	-$128.2M-2216.3%	-$5.5M
Financing Cash Flow	$14.2M+1809.6%	-$830K+82.1%	-$4.6M-133.2%	$14.0M-87.3%	$109.9M+1663.3%	$6.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$845K+59.4%	-$2.1M-307.3%	-$510K-211.9%	$456K+136.8%	-$1.2M-150.1%	$2.5M+31.6%	$1.9M-17.5%	$2.3M
Capital Expenditures	$15K-68.5%	$48K+641.0%	$6K-72.1%	$23K-39.9%	$39K-97.9%	$1.9M+9592.5%	$19K-80.1%	$97K
Free Cash Flow	-$860K+59.6%	-$2.1M-311.5%	-$517K-219.4%	$433K+133.9%	-$1.3M-315.5%	$592K-68.1%	$1.9M-14.7%	$2.2M
Investing Cash Flow	-$15K+68.5%	-$48K-641.0%	-$6K+69.6%	-$21K-106.7%	$318K+116.3%	-$1.9M-466.7%	$531K+129.6%	$231K
Financing Cash Flow	-$103K0.0%	-$103K0.0%	-$103K0.0%	-$103K0.0%	-$103K+9.3%	-$114K+77.6%	-$510K-208.8%	$468K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MIGI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	66.5%+32.3pp	34.2%-0.3pp	34.5%-9.0pp	43.5%-34.0pp	77.4%+48.4pp	29.1%
Operating Margin	-74.0%-21.4pp	-52.6%+85.9pp	-138.4%-86.2pp	-52.3%+45.0pp	-97.3%-42.4pp	-54.9%
Net Margin	-90.7%-12.9pp	-77.8%+60.8pp	-138.7%-76.1pp	-62.5%+40.0pp	-102.5%+11.3pp	-113.8%
Return on Equity	N/A	N/A	-206.7%-138.2pp	-68.5%-29.3pp	-39.2%+27.5pp	-66.7%
Return on Assets	N/A	-75.1%-3.8pp	-71.3%-31.7pp	-39.6%-8.6pp	-30.9%+20.7pp	-51.7%
Current Ratio	N/A	0.42+0.0	0.38-0.2	0.570.0	0.57-0.2	0.80
Debt-to-Equity	N/A	-6.46-6.5	0.00-0.1	0.06-0.2	0.27-0.0	0.29
FCF Margin	-27.0%-29.7pp	2.7%+20.8pp	-18.1%+24.2pp	-42.3%+80.4pp	-122.8%+5.2pp	-128.0%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	65.0%+23.7pp	41.3%-1.6pp	42.9%+12.0pp	30.9%-4.2pp	35.1%+2.1pp	32.9%-4.3pp	37.2%+2.4pp	34.8%
Operating Margin	12.0%+80.9pp	-69.0%-73.1pp	4.2%+39.4pp	-35.2%+57.4pp	-92.5%-41.0pp	-51.5%-10.6pp	-41.0%+64.2pp	-105.2%
Net Margin	2.5%+86.6pp	-84.1%-81.9pp	-2.3%+27.8pp	-30.0%+69.3pp	-99.3%-25.9pp	-73.4%+31.9pp	-105.3%-13.1pp	-92.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	-218.4%-66.5pp	-151.9%-107.7pp	-44.2%
Return on Assets	0.6%+15.8pp	-15.2%-14.7pp	-0.5%+6.8pp	-7.4%+12.8pp	-20.1%-5.5pp	-14.7%+14.5pp	-29.2%-13.9pp	-15.3%
Current Ratio	0.35+0.0	0.32-0.0	0.35-0.1	0.42+0.0	0.39-0.0	0.40-0.0	0.44+0.1	0.38
Debt-to-Equity	-6.53+0.8	-7.32+33.7	-41.07-34.6	-6.46+33.6	-40.04-40.1	0.09+0.1	0.000.0	0.00
FCF Margin	-6.5%+15.8pp	-22.3%-18.6pp	-3.7%-6.6pp	2.9%+13.2pp	-10.4%-14.9pp	4.5%-5.4pp	9.9%-5.6pp	15.5%

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Frequently Asked Questions

What is Mawson Infrastructure Group In's annual revenue?

Mawson Infrastructure Group In (MIGI) reported $26.1M in total revenue for fiscal year 2025. This represents a -56.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Mawson Infrastructure Group In's revenue growing?

Mawson Infrastructure Group In (MIGI) revenue declined by 56% year-over-year, from $59.3M to $26.1M in fiscal year 2025.

Is Mawson Infrastructure Group In profitable?

No, Mawson Infrastructure Group In (MIGI) reported a net income of -$23.7M in fiscal year 2025, with a net profit margin of -90.7%.

What is Mawson Infrastructure Group In's EBITDA?

Mawson Infrastructure Group In (MIGI) had EBITDA of -$13.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Mawson Infrastructure Group In's gross margin?

Mawson Infrastructure Group In (MIGI) had a gross margin of 66.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Mawson Infrastructure Group In's operating margin?

Mawson Infrastructure Group In (MIGI) had an operating margin of -74.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Mawson Infrastructure Group In's net profit margin?

Mawson Infrastructure Group In (MIGI) had a net profit margin of -90.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Mawson Infrastructure Group In's free cash flow?

Mawson Infrastructure Group In (MIGI) generated -$7.0M in free cash flow during fiscal year 2025. This represents a -539.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Mawson Infrastructure Group In's operating cash flow?

Mawson Infrastructure Group In (MIGI) generated -$6.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mawson Infrastructure Group In's capital expenditures?

Mawson Infrastructure Group In (MIGI) invested $149K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Mawson Infrastructure Group In have outstanding?

Mawson Infrastructure Group In (MIGI) had 5M shares outstanding as of fiscal year 2025.

Are Mawson Infrastructure Group In's earnings high quality?

Mawson Infrastructure Group In (MIGI) has an earnings quality ratio of 0.29x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Mawson Infrastructure Group In cover its interest payments?

Mawson Infrastructure Group In (MIGI) has an interest coverage ratio of -5.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.