Riot Platforms Ord Shs Financials
This page shows Riot Platforms Ord Shs (RIOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Riot Platforms Ord Shs has an operating margin of -96.1%, meaning the company retains $-96 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 40.8% the prior year.
Riot Platforms Ord Shs's revenue surged 71.9% year-over-year to $647.4M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Riot Platforms Ord Shs carries a low D/E ratio of 0.21, meaning only $0.21 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
Riot Platforms Ord Shs's current ratio of 0.96 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
While Riot Platforms Ord Shs generated -$572.9M in operating cash flow, capex of $201.4M consumed most of it, leaving -$774.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Riot Platforms Ord Shs generates a -23.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 3.5% the prior year.
Riot Platforms Ord Shs passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Riot Platforms Ord Shs generates $0.86 in operating cash flow (-$572.9M OCF vs -$663.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Riot Platforms Ord Shs generated $647.4M in revenue in fiscal year 2025. This represents an increase of 71.9% from the prior year.
Riot Platforms Ord Shs's EBITDA was -$279.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 177.6% from the prior year.
Riot Platforms Ord Shs reported -$663.2M in net income in fiscal year 2025. This represents a decrease of 706.2% from the prior year.
Riot Platforms Ord Shs earned $-1.95 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 673.5% from the prior year.
Cash & Balance Sheet
Riot Platforms Ord Shs generated -$774.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 56.3% from the prior year.
Riot Platforms Ord Shs held $233.5M in cash against $586.9M in long-term debt as of fiscal year 2025.
Riot Platforms Ord Shs had 372M shares outstanding in fiscal year 2025. This represents an increase of 7.7% from the prior year.
Margins & Returns
Riot Platforms Ord Shs's operating margin was -96.1% in fiscal year 2025, reflecting core business profitability. This is down 136.9 percentage points from the prior year.
Riot Platforms Ord Shs's net profit margin was -102.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 131.5 percentage points from the prior year.
Riot Platforms Ord Shs's ROE was -23.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 26.7 percentage points from the prior year.
Capital Allocation
Riot Platforms Ord Shs spent $4.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.9% from the prior year.
Riot Platforms Ord Shs invested $201.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 16.2% from the prior year.
RIOT Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $152.8M-15.2% | $180.2M+17.8% | $153.0M-5.2% | $161.4M+13.2% | $142.6M+68.1% | $84.8M+21.1% | $70.0M-11.7% | $79.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $81.6M+16.8% | $69.8M-8.0% | $75.9M+6.2% | $71.4M-11.9% | $81.1M+21.2% | $66.9M+9.4% | $61.2M+6.1% | $57.7M |
| Operating Income | -$684.5M-955.1% | $80.1M-63.0% | $216.1M+192.4% | -$233.9M-224.3% | $188.2M+254.9% | -$121.5M-3.8% | -$117.0M-157.4% | $203.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | $679K+2021.9% | $32K-41.8% | $55K+350.0% | -$22K |
| Net Income | -$690.7M-761.1% | $104.5M-52.4% | $219.5M+174.0% | -$296.4M-317.2% | $136.4M+188.4% | -$154.4M-82.8% | -$84.4M-139.9% | $211.8M |
| EPS (Diluted) | N/A | $0.26-55.2% | $0.58+164.4% | $-0.90 | N/A | $-0.54-68.8% | $-0.32-162.7% | $0.51 |
RIOT Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.9B-12.1% | $4.5B+4.5% | $4.3B+15.2% | $3.7B-5.5% | $3.9B+34.7% | $2.9B+7.3% | $2.7B+4.3% | $2.6B |
| Current Assets | $448.7M-15.1% | $528.6M+2.4% | $516.1M+14.8% | $449.6M-25.0% | $599.5M-16.4% | $716.9M-3.6% | $743.8M-5.3% | $785.1M |
| Cash & Equivalents | $233.5M-29.4% | $330.7M+29.5% | $255.4M+56.0% | $163.7M-41.1% | $277.9M-21.9% | $355.7M-26.1% | $481.2M-30.1% | $688.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $29.8M+12.2% | $26.5M+4.4% | $25.4M+30.2% | $19.5M-28.0% | $27.1M+76.7% | $15.3M+12.2% | $13.7M-3.6% | $14.2M |
| Goodwill | $122.5M0.0% | $122.5M0.0% | $122.5M+0.3% | $122.2M+0.2% | $121.9M+26.0% | $96.8M | N/A | N/A |
| Total Liabilities | $1.1B+10.7% | $974.1M-1.6% | $989.5M+27.8% | $774.2M-2.2% | $791.6M+356.9% | $173.3M+24.6% | $139.1M+2.4% | $135.8M |
| Current Liabilities | $469.8M+31.0% | $358.5M-4.4% | $374.9M+169.1% | $139.3M-13.1% | $160.4M+27.1% | $126.2M+29.7% | $97.3M+5.0% | $92.6M |
| Long-Term Debt | $586.9M+0.1% | $586.5M+0.1% | $585.8M+0.1% | $585.0M+0.1% | $584.3M+10334.1% | $5.6M | N/A | N/A |
| Total Equity | $2.9B-18.4% | $3.5B+6.3% | $3.3B+11.9% | $2.9B-6.3% | $3.1B+14.4% | $2.7B+6.4% | $2.6B+4.4% | $2.5B |
| Retained Earnings | -$1.4B-104.2% | -$662.9M+13.6% | -$767.3M+22.2% | -$986.8M-42.9% | -$690.4M+16.5% | -$826.9M-23.0% | -$672.5M-14.4% | -$588.0M |
RIOT Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$105.5M+7.4% | -$114.0M+50.7% | -$231.3M-89.5% | -$122.1M-24.1% | -$98.4M-74.6% | -$56.3M-32.5% | -$42.5M+26.5% | -$57.9M |
| Capital Expenditures | $82.5M+221.0% | $25.7M-57.5% | $60.4M+83.8% | $32.9M-43.5% | $58.2M-18.3% | $71.3M+33.1% | $53.5M-6.6% | $57.3M |
| Free Cash Flow | -$188.0M-34.6% | -$139.7M+52.1% | -$291.7M-88.3% | -$154.9M+1.1% | -$156.6M-22.7% | -$127.6M-32.9% | -$96.1M+16.6% | -$115.2M |
| Investing Cash Flow | -$2.5M-102.1% | $118.7M+517.7% | $19.2M+132.4% | -$59.2M+92.4% | -$782.6M-280.8% | -$205.5M+37.0% | -$326.2M-67.7% | -$194.5M |
| Financing Cash Flow | $11.5M-84.0% | $71.5M-76.5% | $304.5M+348.7% | $67.9M-91.6% | $803.9M+284.6% | $209.0M+29.5% | $161.4M-53.0% | $343.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $1.1M-60.2% | $2.6M+2471.8% | $103K-78.7% | $484K+476.2% | $84K-88.2% | $709K-91.9% | $8.8M+339.0% | $2.0M |
RIOT Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -447.9%-492.3pp | 44.4%-96.9pp | 141.3%+286.2pp | -144.9%-276.9pp | 132.0%+275.3pp | -143.3%+23.8pp | -167.2%-424.4pp | 257.2% |
| Net Margin | -452.0%-509.9pp | 58.0%-85.5pp | 143.5%+327.1pp | -183.6%-279.3pp | 95.7%+277.8pp | -182.1%-61.5pp | -120.6%-387.7pp | 267.1% |
| Return on Equity | -24.2%-27.2pp | 3.0%-3.7pp | 6.7%+16.7pp | -10.1%-14.4pp | 4.3%+10.0pp | -5.6%-2.4pp | -3.3%-11.8pp | 8.6% |
| Return on Assets | -17.5%-19.9pp | 2.3%-2.8pp | 5.1%+13.1pp | -8.0%-11.4pp | 3.5%+8.8pp | -5.3%-2.2pp | -3.1%-11.2pp | 8.1% |
| Current Ratio | 0.96-0.5 | 1.47+0.1 | 1.38-1.9 | 3.23-0.5 | 3.74-1.9 | 5.68-2.0 | 7.64-0.8 | 8.47 |
| Debt-to-Equity | 0.21+0.0 | 0.17-0.0 | 0.18-0.0 | 0.20+0.0 | 0.19+0.2 | 0.00-0.1 | 0.050.0 | 0.05 |
| FCF Margin | -123.0%-45.5pp | -77.5%+113.2pp | -190.7%-94.7pp | -96.0%+13.8pp | -109.8%+40.7pp | -150.5%-13.3pp | -137.2%+8.1pp | -145.2% |
Note: The current ratio is below 1.0 (0.96), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Riot Platforms Ord Shs's annual revenue?
Riot Platforms Ord Shs (RIOT) reported $647.4M in total revenue for fiscal year 2025. This represents a 71.9% 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 Riot Platforms Ord Shs's revenue growing?
Riot Platforms Ord Shs (RIOT) revenue grew by 71.9% year-over-year, from $376.7M to $647.4M in fiscal year 2025.
Is Riot Platforms Ord Shs profitable?
No, Riot Platforms Ord Shs (RIOT) reported a net income of -$663.2M in fiscal year 2025, with a net profit margin of -102.4%.
What is Riot Platforms Ord Shs's EBITDA?
Riot Platforms Ord Shs (RIOT) had EBITDA of -$279.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Riot Platforms Ord Shs have?
As of fiscal year 2025, Riot Platforms Ord Shs (RIOT) had $233.5M in cash and equivalents against $586.9M in long-term debt.
What is Riot Platforms Ord Shs's operating margin?
Riot Platforms Ord Shs (RIOT) had an operating margin of -96.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Riot Platforms Ord Shs's net profit margin?
Riot Platforms Ord Shs (RIOT) had a net profit margin of -102.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Riot Platforms Ord Shs's return on equity (ROE)?
Riot Platforms Ord Shs (RIOT) has a return on equity of -23.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Riot Platforms Ord Shs's free cash flow?
Riot Platforms Ord Shs (RIOT) generated -$774.3M in free cash flow during fiscal year 2025. This represents a -56.3% 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 Riot Platforms Ord Shs's operating cash flow?
Riot Platforms Ord Shs (RIOT) generated -$572.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Riot Platforms Ord Shs's total assets?
Riot Platforms Ord Shs (RIOT) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Riot Platforms Ord Shs's capital expenditures?
Riot Platforms Ord Shs (RIOT) invested $201.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Riot Platforms Ord Shs's current ratio?
Riot Platforms Ord Shs (RIOT) had a current ratio of 0.96 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Riot Platforms Ord Shs's debt-to-equity ratio?
Riot Platforms Ord Shs (RIOT) had a debt-to-equity ratio of 0.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Riot Platforms Ord Shs's return on assets (ROA)?
Riot Platforms Ord Shs (RIOT) had a return on assets of -16.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Riot Platforms Ord Shs's cash runway?
Based on fiscal year 2025 data, Riot Platforms Ord Shs (RIOT) had $233.5M in cash against an annual operating cash burn of $572.9M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Riot Platforms Ord Shs's Piotroski F-Score?
Riot Platforms Ord Shs (RIOT) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Riot Platforms Ord Shs's earnings high quality?
Riot Platforms Ord Shs (RIOT) has an earnings quality ratio of 0.86x, 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.
How financially healthy is Riot Platforms Ord Shs?
Riot Platforms Ord Shs (RIOT) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.