Filing Flows › Riot Platforms (RIOT) › Q2 2025
Riot Platforms (RIOT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Riot Platforms (RIOT) reported revenue of $153M for the second quarter 2025 (Q2 2025), +118% from a year earlier and -5% from the quarter before. Operating margin was 141.3%, net earnings $219M (143.4% of revenue).
Riot Platforms, Q2 2025: revenue $153M (+118% year over year), operating margin 141.3%, net earnings $219M, operating cash flow −$231M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $153M | -5% | +118% |
| Operating profit | $216M | — | — |
| Net earnings | $219M | — | — |
| Operating cash flow | −$231M | — | — |
What changed
Revenue was $153.0M in Q2 2025, up 118% year over year and down 5% from the previous quarter. Bitcoin Mining was the largest line at 92% of revenue. Bitcoin Mining added $85.1M year over year (up 153%), 103% of the total change. Other declined 67%.
Operating profit was $216.1M, a 141.3% margin (up 308.4 points year over year). Net earnings were $219.5M. The effective tax rate was 0.0%.
Operating cash flow was −$231.3M. Non-cash charges added back $83.2M of depreciation and amortization and $30.1M of share-based compensation. Working capital and other items used $564.1M. Capital expenditures of $60.4M exceeded it, leaving free cash flow of −$291.7M.
Questions
What was Riot Platforms' revenue in the second quarter 2025?
Riot Platforms (RIOT) reported revenue of $153M for the second quarter 2025 (Q2 2025), +118% from a year earlier and -5% from the quarter before.
Was Riot Platforms profitable in the second quarter 2025?
Operating profit was $216M (141.3% of revenue) and net earnings $219M.
Source: Riot Platforms 10-Q on SEC EDGAR.