Hut 8 Corp. (HUT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HUT SEC filings page.
Hut 8 Corp. (HUT) reported $318.0M in revenue over the twelve months to Jun 30, 2026, up 129.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Revenue growth has not translated into cash: the business expanded assets while operating cash flow stayed negative and financing supplied funds.
Revenue rose45.0% from FY2024 to FY2025, yet operating cash flow deteriorated to-$139M ; scale has not produced self-funding growth. The gap matters because FY2025 net income was a loss of$248M , aligning accounting and cash weakness rather than showing a merely non-cash earnings issue.
Gross margin expanded from
FY2025 financing cash flow of
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hut 8 Corp.'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.
Hut 8 Corp. earned a return on assets of -9.0% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 21.8% the prior year. Earnings ranks banks on that return over three years, and Hut 8 Corp. scores 97/100 among other banks.
Hut 8 Corp. reported revenue of $235.1M in fiscal year 2025, against $162.4M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Hut 8 Corp. scores 95/100 among other banks.
Hut 8 Corp. funded 51.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $1.4B of equity against $2.8B of assets. Capital ranks banks on that cushion, and Hut 8 Corp. scores 93/100 among other banks.
Not available for Hut 8 Corp., and counted as zero in the overall score.
Not available for Hut 8 Corp., and counted as zero in the overall score.
Hut 8 Corp. reported a net loss of $248.0M in fiscal year 2025, against $331.4M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Hut 8 Corp. scores 2/100 among other banks.
Hut 8 Corp. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Hut 8 Corp. reported a net loss of $248.0M while operations used $139.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Hut 8 Corp. reported an operating loss of $322.0M against $30.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Hut 8 Corp. generated $74.9M in revenue in Q2 2026. This represents an increase of 81.4% from the same quarter a year earlier. Against the prior quarter it is up 5.5%.
Hut 8 Corp.'s EBITDA was -$166.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 180.4% from the same quarter a year earlier. Against the prior quarter it is up 49.8%.
Hut 8 Corp. reported -$150.2M in net income in Q2 2026. This represents a decrease of 209.4% from the same quarter a year earlier. Against the prior quarter it is up 31.7%.
Hut 8 Corp. earned -$1.27 per diluted share (EPS) in Q2 2026. This represents a decrease of 207.6% from the same quarter a year earlier. Against the prior quarter it is up 35.9%.
Cash & Balance Sheet
Hut 8 Corp. held $233.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Hut 8 Corp.'s gross margin was 64.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 16.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.
Hut 8 Corp.'s ROE was -10.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 21.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.5 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
HUT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $74.9M+81.4% | $71.0M+225.5% | $88.5M+179.2% | $83.5M+90.9% | $41.3M+17.3% | $21.8M-57.8% | $31.7M | $43.7M+101.5% |
| Cost of Revenue | $26.9M+23.5% | $25.5M+36.9% | $35.0M+72.3% | $32.3M+84.1% | $21.8M+5.5% | $18.7M-33.7% | $20.3M | $17.6M+29.8% |
| Gross Profit | $48.0M+146.1% | $45.5M+1340.7% | $53.5M+369.9% | $51.2M+95.5% | $19.5M+33.9% | $3.2M-86.6% | $11.4M | $26.2M+220.1% |
| SG&A Expenses | $76.1M+152.3% | $81.7M+288.1% | $45.7M+142.7% | $25.9M+59.9% | $30.2M+68.5% | $21.1M+5.3% | $18.8M | $16.2M+287.8% |
| Operating Income | -$206.3M-209.8% | -$370.4M-150.8% | -$434.9M-254.3% | $72.7M+4730.7% | $187.9M+316.7% | -$147.7M-155.3% | $281.9M | -$1.6M-135.9% |
| EBITDA | -$166.6M-180.4% | -$331.9M-150.0% | -$395.1M-233.4% | $100.5M+1029.5% | $207.3M+375.8% | -$132.8M-147.7% | $296.2M | $8.9M+132.7% |
| Interest Expense | $51.2M+509.3% | $9.2M+23.8% | $5.6M-41.5% | $8.6M+8.5% | $8.4M+39.7% | $7.5M+18.9% | $9.6M | $7.9M+38.7% |
| Income Tax | -$31.5M-214.1% | -$48.9M-142.2% | -$78.2M-170.8% | $19.0M+4098.5% | $27.6M+1571.4% | -$20.2M-559.6% | $110.5M | $453K+642.6% |
| Net Income | -$150.2M-209.4% | -$219.8M-64.2% | -$301.5M-298.7% | $50.1M+7644.8% | $137.3M+291.1% | -$133.9M-153.4% | $151.7M | $647K+114.8% |
| EPS (Basic) | -$1.27-196.2% | -$1.98-52.3% | -$2.66-265.2% | $0.48+4700.0% | $1.32+269.2% | -$1.30-144.8% | $1.61+705.0% | $0.01+110.0% |
| EPS (Diluted) | -$1.27-207.6% | -$1.98-52.3% | -$2.63-281.4% | $0.43 | $1.18+251.3% | -$1.30-147.1% | $1.45+663.2% | $0.01+110.0% |
| Diluted Shares (Avg) | 118M-0.4% | 111M+8.0% | N/A | 122M | 119M+32.0% | 103M+9.8% | N/A | 96M+123.2% |
Not reported in any period shown, so not listed: R&D Expenses.
HUT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.0B+393.5% | $2.6B+66.0% | $2.8B+81.3% | $2.7B+144.6% | $2.0B+86.0% | $1.6B+57.3% | $1.5B+105.0% | $1.1B+513.8% |
| Current Assets | $7.1B+1622.8% | $216.6M-19.5% | $408.2M+58.9% | $223.4M+102.6% | $411.3M+110.2% | $269.1M+702.4% | $256.8M+316.8% | $110.3M+391.1% |
| Cash & Equivalents | $233.6M+8.0% | $160.0M+47.6% | $44.9M-47.2% | $33.5M-54.1% | $216.3M+22.8% | $108.4M+838.7% | $85.0M+178.8% | $72.9M+472.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $11.9M+40.4% | $7.2M+61.3% | $31.1M+345.3% | $6.7M+10.0% | $8.5M+45.1% | $4.5M-42.4% | $7.0M+109.5% | $6.1M+1216.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $208.0M+272.9% | $209.2M+293.4% | $210.1M+295.8% | $206.6M+266.1% | $55.8M0.0% | $53.2M-5.6% | $53.1M-7.8% | $56.4M |
| Total Liabilities | $8.2B+1198.8% | $919.6M+57.4% | $1.1B+97.7% | $1.0B+167.5% | $633.0M+51.2% | $584.2M+126.0% | $538.3M+112.6% | $386.7M+148.3% |
| Current Liabilities | $366.2M+61.1% | $252.4M+18.4% | $375.6M+144.0% | $310.0M+180.6% | $227.4M+94.7% | $213.2M+97.5% | $154.0M+36.8% | $110.5M+879.7% |
| Non-Current Liabilities | $7.9B+1836.5% | $667.1M+79.8% | $688.7M+79.2% | $724.6M+162.3% | $405.6M+34.4% | $371.0M+146.5% | $384.3M+173.3% | $276.2M+91.2% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $235.6M+91.1% | $232.3M |
| Total Equity | $1.4B+13.9% | $1.4B+43.7% | $1.4B+45.6% | $1.4B+104.9% | $1.3B+91.9% | $960.0M+31.1% | $976.7M+100.3% | $703.9M+2915.7% |
| Retained Earnings | -$364.6M-255.1% | -$214.4M-319.3% | $5.5M-97.6% | $285.2M+259.1% | $235.1M+198.4% | $97.7M-35.1% | $231.6M+331.0% | $79.4M+171.6% |
Not reported in any period shown, so not listed: Inventory.
HUT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.6M+88.5% | -$27.2M+19.6% | -$57.4M-165.1% | $770K+118.3% | -$48.8M-198.4% | -$33.8M-28.5% | -$21.6M+0.8% | -$4.2M-291.4% |
| Depreciation & Amortization | $39.7M+104.2% | $38.4M+158.0% | $39.7M+177.8% | $27.8M+165.7% | $19.5M+68.7% | $14.9M+29.9% | $14.3M+135.2% | $10.5M+133.2% |
| Stock-Based Compensation | $51.2M+570.7% | $50.9M+1241.3% | N/A | $6.7M+35.1% | $7.6M+9.0% | $3.8M-15.2% | N/A | $5.0M+1536.0% |
| Investing Cash Flow | -$584.0M-1250.4% | -$51.2M+12.1% | -$302.4M-136.7% | -$350.4M-266.1% | -$43.2M-470.7% | -$58.2M-349.7% | -$127.8M-358.7% | -$95.7M-727.2% |
| Financing Cash Flow | $7.4B+3529.6% | $191.0M+65.3% | $368.5M+127.0% | $166.9M+5233.9% | $205.2M+22.5% | $115.5M+888.7% | $162.3M+1774.1% | -$3.3M+78.5% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
HUT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.1%+16.8pp | 64.0%+49.6pp | 60.4%+24.5pp | 61.3%+1.4pp | 47.3%+5.9pp | 14.5%-31.1pp | 35.9% | 59.9%+22.2pp |
| Operating Margin | -275.4% | -521.5% | -491.4% | 87.0%+90.6pp | 454.9% | -676.8% | 889.5% | -3.6%-0.5pp |
| Net Margin | -200.4% | -309.6% | -340.7% | 60.0%+58.5pp | 332.5% | -613.8% | 478.8% | 1.5%+21.6pp |
| Return on Equity | -10.4%-21.3pp | -15.9%-2.0pp | -21.2%-36.7pp | 3.5%+3.4pp | 10.8%+21.7pp | -14.0%-48.2pp | 15.5% | 0.1%+18.8pp |
| Return on Assets | -1.5%-8.3pp | -8.4%+0.1pp | -10.9%-20.9pp | 1.9%+1.8pp | 6.8%+13.4pp | -8.5%-33.6pp | 10.0% | 0.1%+2.5pp |
| Current Ratio | 19.35+17.5x | 0.86-0.4x | 1.09-0.6x | 0.72-0.3x | 1.81+0.1x | 1.26+1.0x | 1.67+1.1x | 1.00-1.0x |
| Debt-to-Equity | 5.70+5.2x | 0.67+0.1x | 0.75+0.5x | 0.72+0.4x | 0.50+0.1x | 0.61+0.5x | 0.240.0x | 0.33-6.3x |
| Asset Turnover | 0.010.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.020.0x | 0.010.0x | 0.02 | 0.04-0.1x |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Hut 8 Corp. HUT | FY2025 | $235.1M | -$248.0M | N/A | $9.8B | 48/100 |
| TeraWulf Inc. WULF | FY2025 | $168.5M | -$661.4M | N/A | $7.2B | 20/100 |
| Cipher Digital Inc. CIFR | FY2025 | $223.9M | -$822.2M | N/A | $6.0B | 40/100 |
| CLEANSPARK INC CLSK | FY2026 | N/A | N/A | N/A | $3.0B | — |
| MARA Holdings, Inc. MARA | FY2025 | $907.1M | -$1.3B | N/A | $4.0B | 33/100 |
| Riot Platforms, Inc. RIOT | FY2025 | $647.4M | -$663.2M | N/A | $7.0B | 35/100 |
Where Hut 8 Corp. Ranks
Frequently Asked Questions
What is Hut 8 Corp.'s annual revenue?
Hut 8 Corp. (HUT) reported $235.1M in total revenue for fiscal year 2025. This represents a 44.8% 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 Hut 8 Corp.'s revenue growing?
Hut 8 Corp. (HUT) revenue grew by 44.8% year-over-year, from $162.4M to $235.1M in fiscal year 2025.
Is Hut 8 Corp. profitable?
No, Hut 8 Corp. (HUT) reported a net income of -$248.0M in fiscal year 2025.
What is Hut 8 Corp.'s EBITDA?
Hut 8 Corp. (HUT) had EBITDA of -$220.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Hut 8 Corp.'s gross margin?
Hut 8 Corp. (HUT) had a gross margin of 54.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hut 8 Corp.'s return on equity (ROE)?
Hut 8 Corp. (HUT) has a return on equity of -17.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hut 8 Corp.'s operating cash flow?
Hut 8 Corp. (HUT) recorded an outflow of $139.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Hut 8 Corp.'s total assets?
Hut 8 Corp. (HUT) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Hut 8 Corp.'s current ratio?
Hut 8 Corp. (HUT) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.
What is Hut 8 Corp.'s debt-to-equity ratio?
Hut 8 Corp. (HUT) had a debt-to-equity ratio of 0.75 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hut 8 Corp.'s return on assets (ROA)?
Hut 8 Corp. (HUT) had a return on assets of -9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hut 8 Corp.'s P/E ratio?
Hut 8 Corp. (HUT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $9.8B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Hut 8 Corp.'s price-to-sales ratio?
Hut 8 Corp. (HUT) trades at 30.9x sales, its market capitalization divided by revenue of $318.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $9.8B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Hut 8 Corp.'s Piotroski F-Score?
Hut 8 Corp. (HUT) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Hut 8 Corp.'s earnings high quality?
Hut 8 Corp. (HUT) reported a net loss of $248.0M while operations used $139.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Hut 8 Corp. cover its interest payments?
Hut 8 Corp. (HUT) reported an operating loss of $322.0M against $30.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Hut 8 Corp.?
Hut 8 Corp. (HUT) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.