Filing Flows › Riot Platforms (RIOT) › Q4 2025
Riot Platforms (RIOT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Riot Platforms (RIOT) reported revenue of $153M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -15% from the quarter before. Operating margin was -447.9%, net loss $633M (414.4% of revenue).
Riot Platforms, Q4 2025: revenue $153M (+7% year over year), operating margin -447.9%, net loss $633M, operating cash flow −$106M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $153M | -15% | +7% |
| Operating profit | −$684M | -955% | — |
| Net earnings | −$633M | — | — |
| Operating cash flow | −$106M | — | — |
What changed
Revenue was $152.8M in Q4 2025, up 7% year over year and down 15% from the previous quarter. Bitcoin Mining was the largest line at 86% of revenue.
Operating costs exceeded revenue by $684.5M, an operating margin of -447.9%. The quarter ended with a net loss of $633.3M, wider than the previous quarter's $106.2M loss.
Operating cash flow was −$105.5M. Non-cash charges added back $102.8M of depreciation and amortization and $33.2M of share-based compensation. Working capital and other items added $391.9M. Capital expenditures of $82.5M exceeded it, leaving free cash flow of −$188.0M.
Questions
What was Riot Platforms' revenue in the fourth quarter 2025?
Riot Platforms (RIOT) reported revenue of $153M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -15% from the quarter before.
Was Riot Platforms profitable in the fourth quarter 2025?
Operating loss was $684M (-447.9% of revenue) and net loss $633M.
Source: Riot Platforms 10-K on SEC EDGAR.