Btcs Inc Financials
This page shows Btcs Inc (BTCS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 became a financing-led balance-sheet expansion, with external capital driving growth more than internally generated cash.
Total assets jumped from$38.2M in FY2024 to$214.6M in FY2025, while operating cash flow remained negative at-$9.8M and financing inflow reached$206.8M . That mix says the business’s scale-up was funded primarily by new capital and deployment of that capital, not by the core operation starting to self-finance.
The balance sheet looks comfortable on paper — current ratio was 3.4x and equity stood at
Revenue expanded to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Btcs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Btcs Inc's revenue surged 304.8% year-over-year to $16.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Btcs Inc carries a low D/E ratio of 0.54, meaning only $0.54 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.38, Btcs Inc holds $3.38 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
While Btcs Inc generated -$9.8M in operating cash flow, capex of $13K consumed most of it, leaving -$9.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Btcs Inc generates a -23.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -3.7% the prior year.
Btcs Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Btcs Inc generates $0.29 in operating cash flow (-$9.8M OCF vs -$33.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Btcs Inc generated $16.5M in revenue in fiscal year 2025. This represents an increase of 304.8% from the prior year.
Btcs Inc reported -$33.4M in net income in fiscal year 2025. This represents a decrease of 2523.8% from the prior year.
Btcs Inc earned $-1.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1150.0% from the prior year.
Cash & Balance Sheet
Btcs Inc generated -$9.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 177.3% from the prior year.
Btcs Inc held $1.5M in cash against $0 in long-term debt as of fiscal year 2025.
Btcs Inc had 47M shares outstanding in fiscal year 2025. This represents an increase of 150.3% from the prior year.
Margins & Returns
Btcs Inc's gross margin was 12.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 11.0 percentage points from the prior year.
Btcs Inc's net profit margin was -202.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 171.0 percentage points from the prior year.
Btcs Inc's ROE was -23.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.2 percentage points from the prior year.
Capital Allocation
Btcs Inc invested $679K in research and development in fiscal year 2025. This represents a decrease of 10.1% from the prior year.
Btcs Inc spent $4.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Btcs Inc invested $13K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 381.8% from the prior year.
BTCS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M-69.7% | $7.1M+43.6% | $4.9M+78.1% | $2.8M+64.1% | $1.7M-27.3% | $2.3M+214.1% | $739K+31.7% | $561K |
| Cost of Revenue | $1.1M-81.8% | $6.2M+61.3% | $3.9M+35.0% | $2.9M+81.9% | $1.6M-30.4% | $2.3M+315.0% | $543K+221.8% | $169K |
| Gross Profit | $1.0M+14.9% | $883K-18.9% | $1.1M+1444.2% | -$81K-167.3% | $120K+79.4% | $67K-65.8% | $196K-50.1% | $392K |
| R&D Expenses | $80K-38.6% | $131K-10.0% | $146K-24.8% | $194K-7.5% | $209K-9.9% | $232K+8.8% | $213K+30.3% | $164K |
| SG&A Expenses | $246K+1336.4% | $17K-97.2% | $611K-7.4% | $660K+139.3% | $276K+153.4% | -$516K-199.9% | $516K-4.2% | $539K |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $469K | N/A | $665K+8212.5% | $8K | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$69.2M+19.2% | -$85.6M-230.4% | $65.6M+1589.8% | $3.9M+122.5% | -$17.3M-871.0% | $2.2M+124.8% | -$9.0M-34.4% | -$6.7M |
| EPS (Diluted) | $-1.43 | N/A | $1.30+828.6% | $0.14+116.3% | $-0.86 | N/A | $-0.56-30.2% | $-0.43 |
BTCS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $129.0M-39.9% | $214.6M-28.2% | $298.9M+632.3% | $40.8M+94.0% | $21.0M-45.0% | $38.2M+44.1% | $26.5M-21.6% | $33.8M |
| Current Assets | $128.4M-40.0% | $214.0M-28.3% | $298.3M+637.5% | $40.5M+95.6% | $20.7M-45.8% | $38.1M+44.3% | $26.4M-21.6% | $33.7M |
| Cash & Equivalents | $285K-81.4% | $1.5M-66.0% | $4.5M+601.8% | $639K+136.8% | $270K-86.4% | $2.0M+677.2% | $254K-52.6% | $537K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $56.9M-24.3% | $75.2M+2.4% | $73.5M+654.2% | $9.7M+1945.5% | $476K-88.8% | $4.2M+217.5% | $1.3M+88.2% | $711K |
| Current Liabilities | $44.3M-30.1% | $63.4M+1.6% | $62.4M+1162.6% | $4.9M+937.2% | $476K-88.8% | $4.2M+217.5% | $1.3M+88.2% | $711K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $72.1M-48.3% | $139.4M-38.1% | $225.4M+625.5% | $31.1M+51.1% | $20.6M-39.5% | $34.0M+34.9% | $25.2M-23.9% | $33.1M |
| Retained Earnings | -$242.5M-39.9% | -$173.3M-97.5% | -$87.7M+42.8% | -$153.3M+2.5% | -$157.2M-12.3% | -$139.9M+1.6% | -$142.2M-6.8% | -$133.1M |
BTCS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M+53.6% | -$3.8M-34.2% | -$2.8M-109.8% | -$1.3M+29.9% | -$1.9M-66.6% | -$1.1M-64.2% | -$695K+24.8% | -$924K |
| Capital Expenditures | $2K-64.2% | $5K+3.5% | $5K+161.3% | $2K+3.3% | $2K | N/A | N/A | N/A |
| Free Cash Flow | -$1.7M+53.6% | -$3.8M-34.1% | -$2.8M-109.8% | -$1.3M+29.9% | -$1.9M | N/A | N/A | N/A |
| Investing Cash Flow | $18.2M+2843.4% | -$664K+99.6% | -$183.5M-1276.2% | -$13.3M-38668.2% | -$34K+98.9% | -$3.2M-7189270.5% | -$44-100.0% | $550K |
| Financing Cash Flow | -$17.7M-1316.7% | $1.5M-99.2% | $190.1M+1164.6% | $15.0M+6466.2% | $229K-96.2% | $6.0M+1359.5% | $413K | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $1.0M | N/A | N/A | N/A | N/A | N/A | N/A |
BTCS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.2%+34.8pp | 12.4%-9.6pp | 22.0%+24.9pp | -2.9%-10.0pp | 7.1%+4.2pp | 2.9%-23.6pp | 26.5%-43.4pp | 69.9% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -3220.9%-2014.5pp | -1206.4%-2534.5pp | 1328.1%+1188.1pp | 140.0%+1162.5pp | -1022.5%-1118.9pp | 96.5%+1319.5pp | -1223.0%-24.1pp | -1198.8% |
| Return on Equity | -95.9%-34.6pp | -61.4%-90.5pp | 29.1%+16.6pp | 12.5%+96.5pp | -84.0%-90.6pp | 6.6%+42.5pp | -35.9%-15.6pp | -20.3% |
| Return on Assets | -53.6%-13.8pp | -39.9%-61.8pp | 21.9%+12.4pp | 9.5%+91.6pp | -82.1%-88.0pp | 5.9%+39.9pp | -34.1%-14.2pp | -19.9% |
| Current Ratio | 2.90-0.5 | 3.38-1.4 | 4.78-3.4 | 8.19-35.2 | 43.43+34.4 | 8.98-10.8 | 19.76-27.7 | 47.45 |
| Debt-to-Equity | 0.79+0.2 | 0.54+0.2 | 0.33+0.0 | 0.31+0.3 | 0.02-0.1 | 0.12+0.1 | 0.05+0.0 | 0.02 |
| FCF Margin | -153.6%-100.6pp | -53.0%+3.8pp | -56.7%-8.6pp | -48.1%+64.6pp | -112.7% | N/A | N/A | N/A |
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Frequently Asked Questions
What is Btcs Inc's annual revenue?
Btcs Inc (BTCS) reported $16.5M in total revenue for fiscal year 2025. This represents a 304.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Btcs Inc's revenue growing?
Btcs Inc (BTCS) revenue grew by 304.8% year-over-year, from $4.1M to $16.5M in fiscal year 2025.
Is Btcs Inc profitable?
No, Btcs Inc (BTCS) reported a net income of -$33.4M in fiscal year 2025, with a net profit margin of -202.3%.
What is Btcs Inc's gross margin?
Btcs Inc (BTCS) had a gross margin of 12.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Btcs Inc's net profit margin?
Btcs Inc (BTCS) had a net profit margin of -202.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Btcs Inc's return on equity (ROE)?
Btcs Inc (BTCS) has a return on equity of -23.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Btcs Inc's free cash flow?
Btcs Inc (BTCS) generated -$9.8M in free cash flow during fiscal year 2025. This represents a -177.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Btcs Inc's operating cash flow?
Btcs Inc (BTCS) generated -$9.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Btcs Inc's total assets?
Btcs Inc (BTCS) had $214.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Btcs Inc's capital expenditures?
Btcs Inc (BTCS) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Btcs Inc spend on research and development?
Btcs Inc (BTCS) invested $679K in research and development during fiscal year 2025.
What is Btcs Inc's current ratio?
Btcs Inc (BTCS) had a current ratio of 3.38 as of fiscal year 2025, which is generally considered healthy.
What is Btcs Inc's debt-to-equity ratio?
Btcs Inc (BTCS) had a debt-to-equity ratio of 0.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Btcs Inc's return on assets (ROA)?
Btcs Inc (BTCS) had a return on assets of -15.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Btcs Inc's cash runway?
Based on fiscal year 2025 data, Btcs Inc (BTCS) had $1.5M in cash against an annual operating cash burn of $9.8M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Btcs Inc's Piotroski F-Score?
Btcs Inc (BTCS) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Btcs Inc's earnings high quality?
Btcs Inc (BTCS) has an earnings quality ratio of 0.29x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Btcs Inc?
Btcs Inc (BTCS) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.