Filing Flows › Mara Holdings (MARA) › Q3 2026
Mara Holdings (MARA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
Mara Holdings (MARA) reported revenue of $164M for the third quarter 2026 (Q3 2026), -35% from a year earlier and -6% from the quarter before. Operating margin was 107.5%, net earnings $634M (386.3% of revenue).
Mara Holdings, Q3 2026: revenue $164M (-35% year over year), operating margin 107.5%, net earnings $634M, operating cash flow −$171M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $164M | -6% | -35% |
| Operating profit | $177M | — | +271% |
| Net earnings | $634M | — | +415% |
| Operating cash flow | −$171M | — | — |
What changed
Revenue was $164.2M in Q3 2026, down 35% year over year and down 6% from the previous quarter.
Operating profit was $176.5M, a 107.5% margin (up 88.6 points year over year). Net earnings were $634.4M, up 415% year over year ($632.1M including minority interests, which bore $2.3M of losses). The effective tax rate was -0.2%. Non-operating items added $454.5M, 72% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$171.5M. Non-cash charges added back $150.9M of depreciation and amortization and $28.4M of share-based compensation. Working capital and other items used $982.9M. Capital expenditures of $92.1M exceeded it, leaving free cash flow of −$263.6M.
Questions
What was Mara Holdings' revenue in the third quarter 2026?
Mara Holdings (MARA) reported revenue of $164M for the third quarter 2026 (Q3 2026), -35% from a year earlier and -6% from the quarter before.
Was Mara Holdings profitable in the third quarter 2026?
Operating profit was $177M (107.5% of revenue) and net earnings $634M.
Source: Mara Holdings 10-Q on SEC EDGAR.