Filing Flows › Mara Holdings (MARA) › Q1 2026 › vs Q4 2025
Mara Holdings (MARA) Q1 2026 vs Q4 2025 (quarter over quarter)
Mara Holdings's revenue fell $27.7M (-14%) from $202M in Q4 2025 to $175M in Q1 2026.
Mara Holdings, Q1 2026: revenue $175M (-18% year over year), operating margin -607.9%, net loss $1.3B, operating cash flow −$247M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $175M | $202M | −$27.7M | -14% |
| Income tax benefit | $30.9M | $183M | −$152M | -83% |
| Net loss | $1.3B | $1.7B | −$447M | -26% |
| Costs & expenses | $1.5B | $2.1B | −$628M | -30% |
| Operating costs | $1.2B | $1.6B | −$377M | -23% |
| Interest & other, net | $232M | $483M | −$251M | -52% |
| Research & development | $8.2M | $3.6M | $4.7M | +132% |
| General & admin | $86.9M | $85.8M | $1.0M | +1% |
| Other operating costs | $1.1B | $1.5B | −$382M | -25% |
| Operating cash sources | $1.3B | $1.7B | −$447M | -26% |
| Depreciation & amortization | $192M | $286M | −$94.3M | -33% |
| Share-based compensation | $30.5M | $30.1M | $448K | +1% |
| Working capital & other | $793M | $1.2B | −$376M | -32% |
| Cash used in operations | $247M | $225M | $22.7M | +10% |
| Net loss absorbed | $1.3B | $1.7B | −$447M | -26% |
Questions
How much did Mara Holdings's revenue grow quarter over quarter in Q1 2026?
Mara Holdings's revenue fell $27.7M (-14%) from $202M in Q4 2025 to $175M in Q1 2026.