Core Scientific, Inc./tx is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: CORZ reported Q1 FY2026 revenue of $115.2M (+44.9% YoY) with improved gross margins, but posted a net loss of $347.2M and a deeply negative stockholders' equity of -$1.31B, driven by a massive surge in current liabilities and operating losses.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue surged 44.9% YoY to $115.2M in Q1 FY2026 from $79.5M in the prior-year period, reflecting increased Bitcoin mining activity and higher average Bitcoin prices. This top-line growth significantly outpaced cost of revenue growth of 19.4%, resulting in gross profit expanding 266.6% to $30.1M.
Gross margin improved dramatically to 26.1% from 10.3% in the prior-year quarter, a gain of approximately 15.8 percentage points YoY. This improvement suggests better mining economics, likely aided by favorable Bitcoin prices relative to energy costs.
Operating income deteriorated sharply to -$310.4M from -$47.0M in the prior year, a decline of 559.9% YoY, despite improved gross profit. This implies substantial charges below the gross profit line — likely impairments, stock-based compensation, or restructuring costs — that overwhelmed operational gains.
Revenue
$115.24M
++44.92% YoY
EPS (Basic)
$-1.06
-174.65% YoY
Gross Margin
26.1%
++15.80% YoY
Operating Income
$-310.42M
-559.94% YoY
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