Filing Flows › Mara Holdings (MARA) › Q1 2025
Mara Holdings (MARA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Mara Holdings (MARA) reported revenue of $214M for the first quarter 2025 (Q1 2025), +29% from a year earlier and -0.2% from the quarter before. Operating margin was -253.0%, net loss $533M (249.4% of revenue).
Mara Holdings, Q1 2025: revenue $214M (+30% year over year), operating margin -253.0%, net loss $533M, operating cash flow −$215M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $214M | -0.2% | +29% |
| Operating profit | −$541M | -259% | — |
| Net earnings | −$533M | -201% | — |
| Operating cash flow | −$215M | — | — |
What changed
Revenue was $213.9M in Q1 2025, up 29% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $541.1M, an operating margin of -253.0%. The quarter ended with a net loss of $533.4M, after a profit of $528.3M the previous quarter. Minority interests bore $244K of it: to shareholders the quarter was a loss of $533.2M.
Operating cash flow was −$215.5M. Non-cash charges added back $157.9M of depreciation and amortization and $49.1M of share-based compensation. Working capital and other items added $110.9M. Capital expenditures of $38.9M exceeded it, leaving free cash flow of −$254.3M.
Questions
What was Mara Holdings' revenue in the first quarter 2025?
Mara Holdings (MARA) reported revenue of $214M for the first quarter 2025 (Q1 2025), +29% from a year earlier and -0.2% from the quarter before.
Was Mara Holdings profitable in the first quarter 2025?
Operating loss was $541M (-253.0% of revenue) and net loss $533M.
Source: Mara Holdings 10-Q on SEC EDGAR.