Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
RIOT reported a modest 3.6% revenue increase to $167.2M in Q1 FY2026, but operating losses deepened sharply to -$499.9M (down 113.7% YoY), driven by surging costs and impairments, resulting in a net loss of -$500.5M and EPS of -$1.44.
Revenue
$167.22M
+3.61% YoY
EPS (Diluted)
-$1.44
-60.00% YoY
Operating Income
-$499.87M
-113.73% YoY
Source: SEC XBRL
Riot Platforms (RIOT) reported Q1 FY2026 revenue of $167.22M, up 3.6% year over year. Operating margin was -298.9%, against -144.9% a year earlier. Operating cash flow was negative $182.65M. RIOT's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Mar 2026This filing | -1.44 | -0.60 | Miss -138.2% |
| Dec 2025 | -2.06 | -0.29 | Miss -607.4% |
| Sep 2025 | 0.26 | 0.07 | Beat +280.7% |
| Jun 2025 | 0.92 | 0.11 | Beat +760.6% |
Reported EPS of -$1.44 versus the -$0.60 analyst consensus — a -138.2% miss for Mar 2026.
Compiled by AI from this SEC filing
Total revenue grew 3.6% YoY to $167.2M in Q1 FY2026 from $161.4M in the prior-year period, suggesting limited top-line momentum despite ongoing Bitcoin mining operations and data center hosting activities.
Source: 10-Q Income Statement
Operating loss widened dramatically to -$499.9M from -$233.9M in Q1 FY2025, a 113.7% deterioration YoY, with operating margin collapsing to -298.9% from -144.9%, indicating significant cost pressures or non-cash charges such as impairments overwhelming revenue.
Source: 10-Q Income Statement
Selling, General & Administrative expenses increased 6.6% YoY to $76.2M from $71.4M, reflecting ongoing overhead growth that outpaced revenue expansion and contributed to margin compression.
Source: 10-Q Income Statement
Investing cash flow swung to +$157.8M in Q1 FY2026 from -$59.2M in Q1 FY2025, a 366.4% improvement, likely reflecting asset sales or reduced capital expenditures, which partially offset deeply negative operating cash flows of -$182.7M.
Source: 10-Q Cash Flow Statement
Current liabilities surged 208.2% YoY to $429.3M while current assets grew only 2.9% to $462.7M, compressing the current ratio to just 1.08x, and total liabilities rose 34.8% to $1.04B, while stockholders' equity declined 18.7% to $2.39B.
Source: 10-Q Balance Sheet
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
RIOT's operating cash outflow worsened to -$182.7M in Q1 FY2026 from -$122.1M a year ago, a 49.6% deterioration. With an operating margin of nearly -299%, the company is consuming cash at a rate that significantly exceeds its revenue generation, raising sustainability concerns if Bitcoin prices or mining economics deteriorate further.
Source: 10-Q Cash Flow Statement & Income Statement
Current liabilities jumped 208.2% YoY to $429.3M, while the current ratio stands at a thin 1.08x. This dramatic increase in near-term obligations relative to current assets of $462.7M leaves very little buffer, and any unexpected cash demands could strain liquidity.
Source: 10-Q Balance Sheet
As a Bitcoin miner, RIOT's revenue and profitability are highly sensitive to Bitcoin price fluctuations and network mining difficulty. The company's inability to generate positive operating income even with $167.2M in revenue underscores how vulnerable its economics are to adverse crypto market conditions.
Source: 10-Q Income Statement
The gap between modest revenue growth (+3.6%) and the dramatic widening of operating losses (-113.7%) suggests substantial non-cash charges such as asset impairments or write-downs may have occurred. RIOT holds $3.44B in total assets, and further impairments could continue to erode stockholders' equity, which has already declined 18.7% YoY to $2.39B.
Source: 10-Q Balance Sheet & Income Statement
RIOT has historically funded operations through equity issuances, and with ongoing net losses of -$500.5M in a single quarter, the company may need to raise additional capital. While share buybacks of $2.0M occurred this quarter, the scale is negligible relative to losses, and future dilutive issuances remain a risk for existing shareholders.
Source: 10-Q Cash Flow Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $M | 167.22 $M | 161.39 $M | +3.61% |
Operating Income $M | -499.87 $M | -233.87 $M | -113.73% |
Net Income $M | -500.48 $M | -296.37 $M | -68.87% |
EPS (Basic) $ | -1.44 $ | -0.90 $ | -60.00% |
EPS (Diluted) $ | -1.44 $ | -0.90 $ | -60.00% |
SG&A Expense $M | 76.18 $M | 71.45 $M | +6.62% |
Answers draw on this SEC filing and the data on this page
RIOT Platforms' Q2 FY2026 results were defined by a sharp net loss driven by a $401 million fair-value hit on its bitcoin holdings, overshadowing a 14% revenue increase from expanded mining and early data center leasing.
RIOT reported a 71.9% revenue surge to $647.4M in FY2025, but swung to a net loss of $663.2M (-$1.95 EPS) driven by a massive operating loss of $622.2M, reflecting soaring costs and impairments that overwhelmed top-line growth.