Filing Flows › Mara Holdings (MARA) › Q1 2026
Mara Holdings (MARA) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Mara Holdings (MARA) reported revenue of $175M for the first quarter 2026 (Q1 2026), -18% from a year earlier and -14% from the quarter before. Operating margin was -607.9%, net loss $1.3B (723.0% of revenue).
Mara Holdings, Q1 2026: revenue $175M (-18% year over year), operating margin -607.9%, net loss $1.3B, operating cash flow −$247M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $175M | -14% | -18% |
| Operating profit | −$1.1B | — | — |
| Net earnings | −$1.3B | — | — |
| Operating cash flow | −$247M | — | — |
What changed
Revenue was $174.6M in Q1 2026, down 18% year over year and down 14% from the previous quarter.
Operating costs exceeded revenue by $1,061.5M, an operating margin of -607.9%. Total costs grew 64% against a revenue fall of 18%. The fastest-growing cost line was Other operating costs (+73%). The quarter ended with a net loss of $1,262.4M, narrower than the previous quarter's $1,709.8M loss. Minority interests bore $2.8M of it: to shareholders the quarter was a loss of $1,259.6M.
Operating cash flow was −$247.5M. Non-cash charges added back $191.6M of depreciation and amortization and $30.5M of share-based compensation. Working capital and other items added $792.8M. Capital expenditures of $79.5M exceeded it, leaving free cash flow of −$327.0M.
Questions
What was Mara Holdings' revenue in the first quarter 2026?
Mara Holdings (MARA) reported revenue of $175M for the first quarter 2026 (Q1 2026), -18% from a year earlier and -14% from the quarter before.
Was Mara Holdings profitable in the first quarter 2026?
Operating loss was $1.1B (-607.9% of revenue) and net loss $1.3B.
Source: Mara Holdings 10-Q on SEC EDGAR.