| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 34.01 | 1.2% |
| Total Income | 34.01 | 1.2% |
| Expenditure | 196.15 | 108.6% |
| PBT | -416.13 | 577.5% |
| Net Profit | -427.63 | 596.2% |
| OPM | — | |
| NPM | — | |
| EPS | -1.01 | 531.3% |
TeraWulf Reports Preliminary Q1 2026 Revenue Between $30M and $35M
15 Apr 2026 · 15 Apr, 2:40 am
Summary
TeraWulf announced preliminary financial results for the first quarter ended March 31, 2026. The company expects revenue to be between $30 million and $35 million, and adjusted EBITDA to be between $0 million and $3 million. As of March 31, 2026, TeraWulf had $3.1 billion in cash and $5.8 billion in total debt. The company has also received allocations for a revolving credit facility of up to $250 million. More than 50% of Q1 2026 revenue was derived from HPC hosting.
Key Highlights
- 1
TeraWulf expects first quarter 2026 revenue to be between $30 million and $35 million.
- 2
The company anticipates adjusted EBITDA to be between $0 million and $3 million for Q1 2026.
- 3
As of March 31, 2026, TeraWulf had cash, cash equivalents, and restricted cash of $3.1 billion.
- 4
Total debt as of March 31, 2026, was $5.8 billion.
- 5
TeraWulf has received allocations for a revolving credit facility of up to $250 million, expected to mature in April 2030.
- 6
More than 50% of first quarter 2026 revenue was derived from HPC hosting.
- 7
All Core42 capacity across the Wulf Den, CB-1 and CB-2 is generating revenue as of March 31, 2026.
Management Comments
Patrick Fleury
Our preliminary results reflect a business that has effectively transitioned to long-term, credit-enhanced revenues. With more than 50% of first quarter 2026 revenue derived from HPC hosting, and additional compute capacity expected to come online in the second quarter and throughout the remainder of the year, we expect our revenue mix to continue shifting toward stable, contracted HPC hosting revenues backed by investment-grade counterparties.
Informational and educational content only. Not investment advice.