TeraWulf Inc. (WULF) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
9 FEDERAL STREET EASTON, MD 21601 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6199 - Finance Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 274,065 | 54,439 | 1,279 | 43,448 | 3,694 | 3,169 | |||
| Cash and cash equivalent | 274,065 | 54,439 | 1,279 | 43,448 | 3,694 | 964 | |||
| Short-term investments | 2,205 | ||||||||
| Restricted cash and investments | 7,044 | 3,007 | |||||||
| Receivables | 647 | 2,339 | 2,436 | ||||||
| Inventory, net of allowances, customer advances and progress billings | 1,645 | 2,181 | |||||||
| Inventory | 1,645 | 2,181 | |||||||
| Prepaid expense | 2,493 | 4,540 | 5,095 | 1,494 | |||||
| Disposal group, including discontinued operation | 19,348 | ||||||||
| Intangible current assets | 1,801 | 183 | |||||||
| Other current assets | 598 | 806 | 543 | 108 | |||||
| Other undisclosed current assets | 4,275 | 1,001 | 126 | 907 | |||||
| Total current assets: | 281,431 | 62,587 | 14,144 | 68,052 | 7,803 | 8,692 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 7,285 | ||||||||
| Operating lease, right-of-use asset | 85,898 | 10,943 | 11,944 | 1,024 | |||||
| Property, plant and equipment | 411,869 | 205,284 | 191,521 | 91,446 | 7,388 | 7,916 | |||
| Long-term investments and receivables | 98,613 | 98,741 | 104,280 | ||||||
| Long-term investments | 98,613 | 98,741 | 104,280 | ||||||
| Intangible assets, net (including goodwill) | 244 | 271 | |||||||
| Goodwill | |||||||||
| Intangible assets, net (excluding goodwill) | 244 | 271 | |||||||
| Restricted cash and investments | |||||||||
| Other noncurrent assets | 1,028 | 679 | 1,337 | 109 | |||||
| Total noncurrent assets: | 506,080 | 315,519 | 303,543 | 196,859 | 7,632 | 8,187 | |||
| TOTAL ASSETS: | 787,511 | 378,106 | 317,687 | 264,911 | 15,435 | 16,880 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 33,907 | 24,348 | 36,825 | 15,562 | 908 | 1,801 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 280 | 382 | |||
| Accounts payable | 24,382 | 15,169 | 21,862 | 11,791 | 460 | 762 | |||
| Accrued liabilities | 9,525 | 9,179 | 14,963 | 3,771 | 168 | 657 | |||
| Deferred revenue | |||||||||
| Debt | 2 | 123,465 | 51,938 | 2,688 | 133 | ||||
| Deferred compensation liability | 2,500 | ||||||||
| Deferred rent credit | |||||||||
| Disposal group, including discontinued operation | 1,755 | ||||||||
| Business combination, contingent consideration, liability | 10,900 | 12,000 | |||||||
| Other liabilities | 1,391 | 972 | |||||||
| Due to related parties | ✕ | ✕ | ✕ | 3,295 | 60 | ||||
| Other undisclosed current liabilities | 16,545 | 3,377 | 23,061 | 16,480 | |||||
| Total current liabilities: | 51,845 | 154,662 | 126,019 | 45,857 | 3,596 | 1,934 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 487,794 | 56 | 72,967 | 95,619 | 2,688 | ||||
| Long-term debt, excluding current maturities | 487,502 | 56 | 72,967 | 94,627 | 2,688 | ||||
| Finance lease, liability | 292 | ||||||||
| Liabilities, other than long-term debt | 3,427 | 899 | 947 | ||||||
| Deferred rent credit | |||||||||
| Other liabilities | |||||||||
| Operating lease, liability | 3,427 | 899 | 947 | 992 | |||||
| Other undisclosed noncurrent liabilities | (736) | ||||||||
| Total noncurrent liabilities: | 491,221 | 955 | 73,914 | 95,875 | 2,688 | ||||
| Total liabilities: | 543,066 | 155,617 | 199,933 | 141,732 | 3,596 | 4,623 | |||
| Equity | |||||||||
| Equity, attributable to parent | 244,445 | 222,489 | 117,754 | 123,179 | 11,839 | 12,257 | |||
| Preferred stock | 9,273 | 9,273 | 9,273 | ||||||
| Common stock | 404 | 277 | 145 | 100 | 198 | 198 | |||
| Treasury stock, value | (118,217) | ||||||||
| Additional paid in capital | 685,261 | 472,834 | 294,810 | 218,762 | 2,744 | 2,722 | |||
| Retained earnings (accumulated deficit) | (332,276) | (259,895) | (186,474) | (95,683) | 8,898 | 9,337 | |||
| Other undisclosed equity | 46 | 21 | |||||||
| Total equity: | 244,445 | 222,489 | 117,800 | 123,200 | 11,839 | 12,257 | |||
| Other undisclosed liabilities and equity | (46) | (21) | |||||||
| TOTAL LIABILITIES AND EQUITY: | 787,511 | 378,106 | 317,687 | 264,911 | 15,435 | 16,880 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 140,051 | 69,229 | 15,033 | 13,432 | 17,619 | |||
| Cost of revenue | (167,543) | (27,315) | (11,083) | (9,527) | (12,221) | |||
| Cost of product and service sold | (62,608) | (27,315) | (11,083) | (9,527) | (12,221) | |||
| Gross profit: | (27,492) | 41,914 | 3,950 | 3,905 | 5,397 | |||
| Operating expenses | (48,724) | (71,335) | (47,695) | (5,691) | (6,354) | |||
| Operating loss: | (76,216) | (29,421) | (43,745) | (1,786) | (957) | |||
| Nonoperating income | 3,927 | 231 | 1,223 | 61 | ||||
| Investment income, nonoperating | 1,223 | 61 | ||||||
| Other nonoperating income | 3,927 | 231 | ||||||
| Interest and debt expense | (26,094) | (34,812) | (26,733) | (87) | (90) | |||
| Loss from continuing operations before equity method investments, income taxes: | (98,383) | (64,002) | (70,478) | (649) | (986) | |||
| Income (loss) from equity method investments | 3,363 | (9,290) | (15,712) | |||||
| Other undisclosed income (loss) from continuing operations before income taxes | 22,603 | (127) | ||||||
| Loss from continuing operations before income taxes: | (72,417) | (73,419) | (86,190) | (649) | (986) | |||
| Income tax benefit | 256 | 210 | 172 | |||||
| Other undisclosed income (loss) from continuing operations | (1) | 127 | ||||||
| Loss from continuing operations: | (72,418) | (73,292) | (85,934) | (439) | (814) | |||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | (439) | (814) | |
| Loss from discontinued operations | (129) | (4,857) | ||||||
| Net loss attributable to parent: | (72,418) | (73,421) | (90,791) | (439) | (814) | |||
| Preferred stock dividends and other adjustments | (1,074) | (783) | ||||||
| Other undisclosed net income available to common stockholders, basic | ||||||||
| Net loss available to common stockholders, diluted: | (72,418) | (74,495) | (91,574) | (439) | (814) | |||
Comprehensive Income ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (72,418) | (73,421) | (90,791) | (439) | (814) | |||
| Comprehensive loss, net of tax, attributable to parent: | (72,418) | (73,421) | (90,791) | (439) | (814) | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.