Filing Flows › Cipher Digital (CIFR) › Q1 2026
Cipher Digital (CIFR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Cipher Digital (CIFR) reported revenue of $34.8M for the first quarter 2026 (Q1 2026), -29% from a year earlier and -42% from the quarter before. Operating margin was -328.9%, net loss $114M (328.1% of revenue).
Cipher Digital, Q1 2026: revenue $34.8M (-29% year over year), operating margin -328.9%, net loss $114M, operating cash flow $91.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.8M | -42% | -29% |
| Operating profit | −$115M | — | — |
| Net earnings | −$114M | — | — |
| Operating cash flow | $91.5M | — | — |
What changed
Revenue was $34.8M in Q1 2026, down 29% year over year and down 42% from the previous quarter.
Operating costs exceeded revenue by $114.6M, an operating margin of -328.9%. Total costs grew 72% against a revenue fall of 29%. The fastest-growing cost line was Other operating costs (+90%). The quarter ended with a net loss of $114.3M, narrower than the previous quarter's $734.2M loss.
Operating cash flow was $91.5M. Non-cash charges added back $19.0M of depreciation and amortization and $27.0M of share-based compensation. Working capital and other items added $159.8M. Capital expenditures of $554.0M exceeded it, leaving free cash flow of −$462.5M.
Questions
What was Cipher Digital's revenue in the first quarter 2026?
Cipher Digital (CIFR) reported revenue of $34.8M for the first quarter 2026 (Q1 2026), -29% from a year earlier and -42% from the quarter before.
Was Cipher Digital profitable in the first quarter 2026?
Operating loss was $115M (-328.9% of revenue) and net loss $114M.
Source: Cipher Digital 10-Q on SEC EDGAR.