Cleanspark Inc Financials
This page shows Cleanspark Inc (CLSK) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cleanspark Inc has an operating margin of 41.6%, meaning the company retains $42 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from -39.3% the prior year.
Cleanspark Inc's revenue surged 102.2% year-over-year to $766.3M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Cleanspark Inc carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.18, Cleanspark Inc holds $4.18 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Cleanspark Inc generated -$461.0M in operating cash flow, capex of $144.7M consumed most of it, leaving -$605.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Cleanspark Inc earns a strong 16.8% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 67/100.
Cleanspark Inc scores 2.39, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.5B) relative to total liabilities ($1.0B). This signals moderate financial risk that warrants monitoring.
Cleanspark Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Cleanspark Inc generates $-1.26 in operating cash flow (-$461.0M OCF vs $364.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Cleanspark Inc earns $28.1 in operating income for every $1 of interest expense ($318.9M vs $11.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Cleanspark Inc generated $766.3M in revenue in fiscal year 2025. This represents an increase of 102.2% from the prior year.
Cleanspark Inc's EBITDA was $667.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11888.6% from the prior year.
Cleanspark Inc generated -$605.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 102.1% from the prior year.
Cleanspark Inc reported $364.5M in net income in fiscal year 2025. This represents an increase of 350.0% from the prior year.
Cleanspark Inc earned $1.12 per diluted share (EPS) in fiscal year 2025. This represents an increase of 262.3% from the prior year.
Cleanspark Inc held $43.0M in cash against $644.6M in long-term debt as of fiscal year 2025.
Cleanspark Inc had 284M shares outstanding in fiscal year 2025. This represents an increase of 5.0% from the prior year.
Cleanspark Inc's gross margin was 55.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.
Cleanspark Inc's operating margin was 41.6% in fiscal year 2025, reflecting core business profitability. This is up 81.0 percentage points from the prior year.
Cleanspark Inc's net profit margin was 47.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 86.0 percentage points from the prior year.
Cleanspark Inc's ROE was 16.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Cleanspark Inc spent $145.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Cleanspark Inc invested $144.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 118.9% from the prior year.
CLSK Income Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | $104.1M-6.9% | $111.8M+51.5% | $73.8M+62.1% | $45.5M |
| Cost of Revenue | $95.6M+6.1% | $90.1M+5.5% | $85.4M+21.5% | $70.3M+55.6% | $45.2M+31.7% | $34.3M+18.7% | $28.9M+39.7% | $20.7M |
| Gross Profit | N/A | N/A | N/A | N/A | $58.9M-24.0% | $77.5M+72.6% | $44.9M+80.7% | $24.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $15.4M-6.8% | $16.6M+41.2% | $11.7M+16.7% | $10.1M+22.1% | $8.2M+20.8% | $6.8M+36.3% | $5.0M-1.2% | $5.1M |
| Operating Income | -$316.6M-228.6% | $246.2M+278.3% | -$138.0M-165.7% | $210.0M+184.3% | -$249.1M-281.6% | $137.1M+380.9% | $28.5M+282.9% | -$15.6M |
| Interest Expense | $3.7M+7.0% | $3.5M+172.6% | $1.3M-18.7% | $1.6M+221.4% | $485K-7.8% | $526K-3.7% | $546K-20.8% | $689K |
| Income Tax | $31.4M+73.5% | $18.1M+495.0% | $3.0M-67.0% | $9.2M+197.1% | -$9.5M-181.9% | $11.6M+728.8% | $1.4M | $0 |
| Net Income | -$378.7M-247.1% | $257.4M+285.5% | -$138.8M-156.2% | $246.8M+204.5% | -$236.2M-286.4% | $126.7M+389.2% | $25.9M+282.2% | -$14.2M |
| EPS (Diluted) | $-1.35-273.1% | $0.78+259.2% | $-0.49-159.0% | $0.83+180.6% | $-1.03-277.6% | $0.58+314.3% | $0.14+216.7% | $-0.12 |
CLSK Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.3B+7.2% | $3.1B+16.7% | $2.7B-4.4% | $2.8B+41.6% | $2.0B+27.7% | $1.5B+78.2% | $862.7M+13.3% | $761.6M |
| Current Assets | $1.5B+21.5% | $1.2B+27.7% | $947.5M-22.7% | $1.2B+73.7% | $705.4M+2.6% | $687.8M+278.5% | $181.7M+77.8% | $102.2M |
| Cash & Equivalents | $458.1M+1225.8% | $34.6M-64.4% | $97.0M-64.9% | $276.6M+128.2% | $121.2M-62.5% | $323.1M+566.7% | $48.5M+65.9% | $29.2M |
| Inventory | N/A | N/A | N/A | N/A | $1.5M+55.2% | $991K+35.4% | $732K-9.5% | $809K |
| Accounts Receivable | N/A | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $5K |
| Goodwill | $131.7M+2.2% | $128.8M-2.6% | $132.2M-2.2% | $135.3M+1581.6% | $8.0M0.0% | $8.0M0.0% | $8.0M0.0% | $8.0M |
| Total Liabilities | $1.9B+103.6% | $954.9M+24.6% | $766.5M+1.2% | $757.7M+275.4% | $201.8M+171.3% | $74.4M+42.6% | $52.2M-39.3% | $85.9M |
| Current Liabilities | $139.5M-49.6% | $276.8M+153.2% | $109.3M+13.1% | $96.7M-48.5% | $187.9M+241.5% | $55.0M+29.8% | $42.4M-42.8% | $74.1M |
| Long-Term Debt | $1.8B+177.5% | $643.9M+0.3% | $641.7M0.0% | $641.4M+8838.6% | $7.2M+41.0% | $5.1M-27.8% | $7.0M-20.9% | $8.9M |
| Total Equity | $1.4B-35.6% | $2.1B+13.6% | $1.9B-6.5% | $2.0B+14.8% | $1.8B+20.5% | $1.5B+80.6% | $809.0M+19.7% | $675.7M |
| Retained Earnings | -$504.6M-305.1% | -$124.6M+66.9% | -$376.4M-58.4% | -$237.6M+50.4% | -$479.2M-167.4% | -$179.2M+40.9% | -$303.1M+9.3% | -$334.2M |
CLSK Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$161.1M-46.6% | -$109.9M+2.1% | -$112.3M+6.0% | -$119.5M-44.5% | -$82.7M-84.4% | -$44.8M+5.9% | -$47.7M-36.5% | -$34.9M |
| Capital Expenditures | $36.9M | N/A | N/A | $57.4M+347.7% | $12.8M-17.3% | $15.5M-43.7% | $27.5M+46.1% | $18.8M |
| Free Cash Flow | -$198.1M | N/A | N/A | -$176.8M-85.2% | -$95.5M-58.3% | -$60.3M+19.8% | -$75.2M-39.9% | -$53.8M |
| Investing Cash Flow | $79.6M+163.5% | -$125.3M-109.0% | -$59.9M+76.6% | -$255.9M+38.6% | -$416.7M-109.7% | -$198.7M-505.6% | -$32.8M+64.7% | -$92.9M |
| Financing Cash Flow | $496.4M+187.3% | $172.8M+2441.9% | -$7.4M-101.4% | $531.1M+7.4% | $494.5M-4.6% | $518.2M+419.5% | $99.7M-26.2% | $135.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $460.0M | $0 | $0-100.0% | $145.0M | $0 | $0 | $0 | N/A |
CLSK Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | 56.6%-12.7pp | 69.3%+8.5pp | 60.8%+6.3pp | 54.6% |
| Operating Margin | N/A | N/A | N/A | N/A | -239.3%-361.9pp | 122.6%+84.0pp | 38.6%+72.9pp | -34.2% |
| Net Margin | N/A | N/A | N/A | N/A | -226.9%-340.3pp | 113.4%+78.3pp | 35.1%+66.3pp | -31.2% |
| Return on Equity | N/A | 12.0% | N/A | 12.2% | N/A | 8.7%+5.5pp | 3.2% | N/A |
| Return on Assets | -11.4%-19.7pp | 8.3%+13.5pp | -5.2%-14.1pp | 8.9%+24.9pp | -16.0%-24.3pp | 8.2%+5.2pp | 3.0%+5.2pp | -2.2% |
| Current Ratio | 10.54+6.2 | 4.37-4.3 | 8.67-4.0 | 12.67+8.9 | 3.75-8.7 | 12.50+8.2 | 4.29+2.9 | 1.38 |
| Debt-to-Equity | 1.29+1.0 | 0.30-0.0 | 0.34+0.0 | 0.32+0.3 | 0.000.0 | 0.000.0 | 0.010.0 | 0.01 |
| FCF Margin | N/A | N/A | N/A | N/A | -66.0%-12.1pp | -54.0%+47.9pp | -101.9%-68.8pp | -33.1% |
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Frequently Asked Questions
What is Cleanspark Inc's annual revenue?
Cleanspark Inc (CLSK) reported $766.3M in total revenue for fiscal year 2025. This represents a 102.2% 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 Cleanspark Inc's revenue growing?
Cleanspark Inc (CLSK) revenue grew by 102.2% year-over-year, from $379.0M to $766.3M in fiscal year 2025.
Is Cleanspark Inc profitable?
Yes, Cleanspark Inc (CLSK) reported a net income of $364.5M in fiscal year 2025, with a net profit margin of 47.6%.
What is Cleanspark Inc's earnings per share (EPS)?
Cleanspark Inc (CLSK) reported diluted earnings per share of $1.12 for fiscal year 2025. This represents a 262.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Cleanspark Inc's EBITDA?
Cleanspark Inc (CLSK) had EBITDA of $667.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cleanspark Inc have?
As of fiscal year 2025, Cleanspark Inc (CLSK) had $43.0M in cash and equivalents against $644.6M in long-term debt.
What is Cleanspark Inc's gross margin?
Cleanspark Inc (CLSK) had a gross margin of 55.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cleanspark Inc's operating margin?
Cleanspark Inc (CLSK) had an operating margin of 41.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cleanspark Inc's net profit margin?
Cleanspark Inc (CLSK) had a net profit margin of 47.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cleanspark Inc's return on equity (ROE)?
Cleanspark Inc (CLSK) has a return on equity of 16.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cleanspark Inc's free cash flow?
Cleanspark Inc (CLSK) generated -$605.7M in free cash flow during fiscal year 2025. This represents a -102.1% 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 Cleanspark Inc's operating cash flow?
Cleanspark Inc (CLSK) generated -$461.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cleanspark Inc's total assets?
Cleanspark Inc (CLSK) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cleanspark Inc's capital expenditures?
Cleanspark Inc (CLSK) invested $144.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Cleanspark Inc buy back shares?
Yes, Cleanspark Inc (CLSK) spent $145.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Cleanspark Inc have outstanding?
Cleanspark Inc (CLSK) had 284M shares outstanding as of fiscal year 2025.
What is Cleanspark Inc's current ratio?
Cleanspark Inc (CLSK) had a current ratio of 4.18 as of fiscal year 2025, which is generally considered healthy.
What is Cleanspark Inc's debt-to-equity ratio?
Cleanspark Inc (CLSK) had a debt-to-equity ratio of 0.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cleanspark Inc's return on assets (ROA)?
Cleanspark Inc (CLSK) had a return on assets of 11.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cleanspark Inc's cash runway?
Based on fiscal year 2025 data, Cleanspark Inc (CLSK) had $43.0M in cash against an annual operating cash burn of $461.0M. This gives an estimated cash runway of approximately 1 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 Cleanspark Inc's Altman Z-Score?
Cleanspark Inc (CLSK) has an Altman Z-Score of 2.39, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cleanspark Inc's Piotroski F-Score?
Cleanspark Inc (CLSK) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cleanspark Inc's earnings high quality?
Cleanspark Inc (CLSK) has an earnings quality ratio of -1.26x, 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.
Can Cleanspark Inc cover its interest payments?
Cleanspark Inc (CLSK) has an interest coverage ratio of 28.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cleanspark Inc?
Cleanspark Inc (CLSK) scores 78 out of 100 on our Financial Profile, indicating strong 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.