Filing Flows › Hut 8 (HUT) › Q1 2026
Hut 8 (HUT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Hut 8 (HUT) reported revenue of $71.0M for the first quarter 2026 (Q1 2026), +226% from a year earlier and -20% from the quarter before. Operating margin was -521.5%, net loss $253M (356.4% of revenue).
Hut 8, Q1 2026: revenue $71.0M (+226% year over year), operating margin -521.5%, net loss $253M, operating cash flow −$27.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.0M | -20% | +226% |
| Operating profit | −$370M | — | — |
| Net earnings | −$253M | — | — |
| Operating cash flow | −$27.2M | — | — |
What changed
Revenue was $71.0M in Q1 2026, up 226% year over year and down 20% from the previous quarter. High Performance Computing, Colocation and Cloud was the largest line at 93% of revenue. High Performance Computing, Colocation and Cloud added $49.9M year over year (up 309%), 101% of the total change. Power declined 15%.
Operating costs exceeded revenue by $370.4M, an operating margin of -521.5%. Total costs grew 160% against revenue growth of 226%. The fastest-growing cost line was General & admin (+288%). The quarter ended with a net loss of $253.1M, narrower than the previous quarter's $301.8M loss. Minority interests bore $33.3M of it: to shareholders the quarter was a loss of $219.8M. Non-operating items added $68.3M, -23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$27.2M. Non-cash charges added back $38.4M of depreciation and amortization and $50.9M of share-based compensation. Working capital and other items added $136.6M. Capital expenditures of $36.6M exceeded it, leaving free cash flow of −$63.8M.
Questions
What was Hut 8's revenue in the first quarter 2026?
Hut 8 (HUT) reported revenue of $71.0M for the first quarter 2026 (Q1 2026), +226% from a year earlier and -20% from the quarter before.
Was Hut 8 profitable in the first quarter 2026?
Operating loss was $370M (-521.5% of revenue) and net loss $253M.
Source: Hut 8 10-Q on SEC EDGAR.