| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.92 | 31.9% |
| Total Income | 1.92 | 31.9% |
| Expenditure | 6.05 | 24.5% |
| PBT | — | |
| Net Profit | -4.11 | 53.2% |
| OPM | — | |
| NPM | — | |
| EPS | -1.18 | 268.8% |
Sphere 3D Reports Q1 2026 Revenue of $1.9 Million
16 May 2026 · 16 May, 2:37 am
Summary
Sphere 3D Corp. reported its financial results for the first quarter of FY 2026 ended March 31, 2026. The company generated revenue of $1.9 million, a decrease from $2.8 million in the same quarter of the previous year. Bitcoin production was 25.3 Bitcoin, down from 30.5 Bitcoin in Q1 2025. The company's net loss was $4.1 million, or $1.18 per share, compared to a net loss of $8.8 million, or $3.23 per share, in the first quarter of 2025.
Key Highlights
- 1
Sphere 3D reported revenue of $1.9 million in the first quarter of 2026, compared to $2.8 million in the first quarter of 2025.
- 2
Bitcoin production during the first quarter of 2026 was 25.3 Bitcoin, compared to 30.5 Bitcoin for the first quarter of 2025.
- 3
Operating costs and expenses for the quarter decreased by $2.0 million to $6.0 million, compared to $8.0 million for the first quarter of 2025.
- 4
General and administrative expenses for the first quarter of 2026 were reduced by approximately 23% to $2.5 million, compared to $3.2 million for the first quarter of 2025.
- 5
Loss from operations decreased to $4.1 million in the first quarter of 2026, compared to $5.2 million in the first quarter of 2025.
- 6
Net loss was $4.1 million, or a net loss of $1.18 per share for the first quarter of 2026, compared to a net loss of $8.8 million, or a net loss of $3.23 per share, for the first quarter of 2025.
Management Comments
Kurt Kalfbfleish
"During the quarter, we remained focused on improving the efficiency of our mining operations while continuing to position the Company for long-term growth," said Kurt Kalfbfleish, CEO of Sphere3D. "The operational changes underway this quarter, combined with the proposed combination with Cathedra Bitcoin, Inc., reflect our broader strategy to build a stronger and more resilient Bitcoin infrastructure business with greater operational control and flexibility over time."
Informational and educational content only. Not investment advice.