Cipher Digital Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: CIFR reported a sharp revenue decline of 28.8% YoY to $34.8M in Q1 2026, while net losses widened dramatically to -$114.3M, though the company's balance sheet expanded nearly 6x to $6.4B in total assets—likely reflecting a major acquisition or capital raise—and operating cash flow turned positive at $91.5M.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue fell 28.8% YoY from $49.0M to $34.8M in Q1 2026, while cost of revenue simultaneously rose 18.9% from $14.9M to $17.7M, compressing gross profit and signaling significant margin pressure from rising operational costs relative to declining output or pricing.
Operating income deteriorated to -$114.6M from -$38.1M in the prior-year period, a -200.8% YoY swing, pushing the operating margin to an extreme -328.9%. This suggests substantial non-cash charges, impairments, or elevated SG&A/overhead costs beyond the cost of revenue line.
Total assets surged 599.7% YoY from $913.8M to $6.4B, with current assets jumping 2,419.5% to $3.9B and total liabilities rising 3,058.6% to $5.7B. Long-term debt stands at $4.4B, and financing cash flow of $1.96B indicates significant debt or equity capital was raised during the quarter.
Revenue
$34.84M
-28.84% YoY
EPS (Basic)
$-0.28
-154.55% YoY
Operating Income
$-114.57M
-200.80% YoY
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