Riot Platforms Ord Shs Financials

RIOT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Riot Platforms Ord Shs (RIOT) 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

Financial Profile 69/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Riot Platforms Ord Shs has an operating margin of 40.8%, meaning the company retains $41 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 -22.5% the prior year.

Growth

100

Riot Platforms Ord Shs's revenue surged 34.2% year-over-year to $376.7M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Riot Platforms Ord Shs carries a low D/E ratio of 0.19, meaning only $0.19 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.

Liquidity

100

With a current ratio of 3.74, Riot Platforms Ord Shs holds $3.74 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Riot Platforms Ord Shs generated -$255.1M in operating cash flow, capex of $240.3M consumed most of it, leaving -$495.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Riot Platforms Ord Shs generates a 3.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 14/100.

Altman Z-Score Safe

4.40

Riot Platforms Ord Shs scores 4.40, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.7B) relative to total liabilities ($791.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Weak

2/9

Riot Platforms Ord Shs passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

-2.33x

For every $1 of reported earnings, Riot Platforms Ord Shs generates $-2.33 in operating cash flow (-$255.1M OCF vs $109.4M 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

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Revenue

$376.7M

YoY+34.2%

5Y CAGR+123.0%

10Y CAGR+116.4%

Riot Platforms Ord Shs generated $376.7M in revenue in fiscal year 2024. This represents an increase of 34.2% from the prior year.

EBITDA

$359.8M

YoY+96.1%

Riot Platforms Ord Shs's EBITDA was $359.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 96.1% from the prior year.

Free Cash Flow

-$495.4M

YoY-208.4%

Riot Platforms Ord Shs generated -$495.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 208.4% from the prior year.

Net Income

$109.4M

YoY+321.1%

Riot Platforms Ord Shs reported $109.4M in net income in fiscal year 2024. This represents an increase of 321.1% from the prior year.

EPS (Diluted)

$0.34

YoY+221.4%

Riot Platforms Ord Shs earned $0.34 per diluted share (EPS) in fiscal year 2024. This represents an increase of 221.4% from the prior year.

Cash & Debt

$277.9M

YoY-53.5%

5Y CAGR+106.3%

10Y CAGR+54.7%

Riot Platforms Ord Shs held $277.9M in cash against $584.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

345M

YoY+49.4%

Riot Platforms Ord Shs had 345M shares outstanding in fiscal year 2024. This represents an increase of 49.4% from the prior year.

Gross Margin

N/A

Operating Margin

40.8%

YoY+63.2pp

5Y CAGR+178.5pp

10Y CAGR+6271.8pp

Riot Platforms Ord Shs's operating margin was 40.8% in fiscal year 2024, reflecting core business profitability. This is up 63.2 percentage points from the prior year.

Net Margin

29.0%

YoY+46.7pp

5Y CAGR+322.1pp

10Y CAGR+6284.1pp

Riot Platforms Ord Shs's net profit margin was 29.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 46.7 percentage points from the prior year.

Return on Equity

3.5%

Riot Platforms Ord Shs's ROE was 3.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

$11.6M

YoY-17.6%

Riot Platforms Ord Shs spent $11.6M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 17.6% from the prior year.

Capital Expenditures

$240.3M

YoY+24.1%

5Y CAGR+117.3%

10Y CAGR+145.6%

Riot Platforms Ord Shs invested $240.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 24.1% from the prior year.

RIOT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$376.7M+34.2%	$280.7M+8.3%	$259.2M+21.5%	$213.2M+1665.1%	$12.1M+76.7%	$6.8M
Cost of Revenue	N/A	N/A	N/A	N/A	$6.3M+2.5%	$6.1M
Gross Profit	N/A	N/A	N/A	N/A	$5.8M+687.8%	$740K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$266.9M+166.0%	$100.3M+48.8%	$67.5M-22.8%	$87.4M0.0%	$87.4M+854.6%	$9.2M
Operating Income	$153.6M+343.6%	-$63.0M+87.7%	-$512.7M-1616.4%	-$29.9M-92.2%	-$15.5M-65.1%	-$9.4M
Interest Expense	N/A	N/A	N/A	$296K	N/A	$122K
Income Tax	$744K+114.6%	-$5.1M+56.7%	-$11.7M-4725.6%	$254K	N/A	-$143K
Net Income	$109.4M+321.1%	-$49.5M+90.3%	-$509.6M-3200.9%	-$15.4M-9.4%	-$14.1M+29.6%	-$20.0M
EPS (Diluted)	$0.34+221.4%	$-0.28+92.3%	$-3.65-2047.1%	$-0.17+48.5%	$-0.33	$-1.02

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$180.2M+17.8%	$153.0M-5.2%	$161.4M+13.2%	$142.6M+103.6%	$70.0M-11.7%	$79.3M+0.6%	$78.8M+51.9%	$51.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$69.8M-8.0%	$75.9M+6.2%	$71.4M-11.9%	$81.1M+32.6%	$61.2M+6.1%	$57.7M+48.7%	$38.8M+33.4%	$29.1M
Operating Income	$80.1M-63.0%	$216.1M+192.4%	-$233.9M-224.3%	$188.2M+260.8%	-$117.0M-157.4%	$203.9M+494.4%	$34.3M+141.6%	-$82.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	$679K+1134.5%	$55K+350.0%	-$22K+72.2%	-$79K+49.7%	-$157K
Net Income	$104.5M-52.4%	$219.5M+174.0%	-$296.4M-317.2%	$136.4M+261.6%	-$84.4M-139.9%	$211.8M+436.9%	$39.4M+149.3%	-$80.0M
EPS (Diluted)	$0.26-55.2%	$0.58+164.4%	$-0.90-230.4%	$0.69+315.6%	$-0.32-162.7%	$0.51+142.9%	$0.21+147.7%	$-0.44

RIOT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.9B+91.9%	$2.1B+55.4%	$1.3B-13.3%	$1.5B+443.3%	$280.1M+822.1%	$30.4M
Current Assets	$599.5M-40.6%	$1.0B+127.5%	$443.4M-21.5%	$564.6M+139.0%	$236.3M+1771.0%	$12.6M
Cash & Equivalents	$277.9M-53.5%	$597.2M+159.3%	$230.3M-26.3%	$312.3M+39.8%	$223.4M+2902.4%	$7.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$27.1M+9.8%	$24.7M-8.3%	$26.9M+74.9%	$15.4M	N/A	N/A
Goodwill	$121.9M	N/A	N/A	$335.6M	N/A	N/A
Total Liabilities	$791.6M+385.5%	$163.1M-3.2%	$168.5M-2.9%	$173.6M+5544.3%	$3.1M-25.8%	$4.1M
Current Liabilities	$160.4M+32.5%	$121.0M-0.4%	$121.5M+10.6%	$109.9M+4484.0%	$2.4M-28.9%	$3.4M
Long-Term Debt	$584.3M+110985.7%	$526K	N/A	N/A	N/A	N/A
Total Equity	$3.1B+66.5%	$1.9B+64.0%	$1.2B-14.6%	$1.3B+389.2%	$275.6M+950.3%	$26.2M
Retained Earnings	-$690.4M+13.7%	-$799.8M-5.7%	-$756.3M-206.5%	-$246.8M-7.3%	-$229.9M-5.8%	-$217.2M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$4.5B+4.5%	$4.3B+15.2%	$3.7B-5.5%	$3.9B+44.5%	$2.7B+4.3%	$2.6B+27.3%	$2.1B+40.9%	$1.5B
Current Assets	$528.6M+2.4%	$516.1M+14.8%	$449.6M-25.0%	$599.5M-19.4%	$743.8M-5.3%	$785.1M-22.2%	$1.0B+96.5%	$513.4M
Cash & Equivalents	$330.7M+29.5%	$255.4M+56.0%	$163.7M-41.1%	$277.9M-42.3%	$481.2M-30.1%	$688.5M+15.3%	$597.2M+105.8%	$290.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$26.5M+4.4%	$25.4M+30.2%	$19.5M-28.0%	$27.1M+98.3%	$13.7M-3.6%	$14.2M-42.6%	$24.7M+94.8%	$12.7M
Goodwill	$122.5M0.0%	$122.5M+0.3%	$122.2M+0.2%	$121.9M	N/A	N/A	N/A	N/A
Total Liabilities	$974.1M-1.6%	$989.5M+27.8%	$774.2M-2.2%	$791.6M+469.2%	$139.1M+2.4%	$135.8M-16.7%	$163.1M+42.2%	$114.7M
Current Liabilities	$358.5M-4.4%	$374.9M+169.1%	$139.3M-13.1%	$160.4M+64.8%	$97.3M+5.0%	$92.6M-23.4%	$121.0M+70.2%	$71.1M
Long-Term Debt	$586.5M+0.1%	$585.8M+0.1%	$585.0M+0.1%	$584.3M	N/A	N/A	$526K	N/A
Total Equity	$3.5B+6.3%	$3.3B+11.9%	$2.9B-6.3%	$3.1B+21.6%	$2.6B+4.4%	$2.5B+31.1%	$1.9B+36.8%	$1.4B
Retained Earnings	-$662.9M+13.6%	-$767.3M+22.2%	-$986.8M-42.9%	-$690.4M-2.7%	-$672.5M-14.4%	-$588.0M+26.5%	-$799.8M+9.6%	-$885.0M

RIOT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$255.1M-870.9%	$33.1M+6142.5%	$530K+100.6%	-$86.1M-2921.5%	-$2.8M+81.5%	-$15.4M
Capital Expenditures	$240.3M+24.1%	$193.7M+30.5%	$148.4M+0.9%	$147.1M+1707.5%	$8.1M+64.2%	$5.0M
Free Cash Flow	-$495.4M-208.4%	-$160.6M-8.6%	-$147.9M+36.6%	-$233.2M-2022.3%	-$11.0M+46.1%	-$20.4M
Investing Cash Flow	-$1.5B-263.8%	-$414.8M-16.9%	-$354.9M+27.7%	-$490.6M-1092.9%	-$41.1M-1165.9%	-$3.2M
Financing Cash Flow	$1.5B+102.8%	$748.5M+174.8%	$272.3M-59.1%	$665.6M+156.1%	$259.9M+904.4%	$25.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$11.6M-17.6%	$14.0M+38.4%	$10.1M+99.5%	$5.1M+1039.5%	$446K	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$114.0M+50.7%	-$231.3M-89.5%	-$122.1M-24.1%	-$98.4M-131.4%	-$42.5M+26.5%	-$57.9M-228.5%	$45.0M+830.4%	-$6.2M
Capital Expenditures	$25.7M-57.5%	$60.4M+83.8%	$32.9M-43.5%	$58.2M+8.7%	$53.5M-6.6%	$57.3M+26.0%	$45.5M+11.5%	$40.8M
Free Cash Flow	-$139.7M+52.1%	-$291.7M-88.3%	-$154.9M+1.1%	-$156.6M-63.0%	-$96.1M+16.6%	-$115.2M-24935.2%	-$460K+99.0%	-$47.0M
Investing Cash Flow	$118.7M+517.7%	$19.2M+132.4%	-$59.2M+92.4%	-$782.6M-139.9%	-$326.2M-67.7%	-$194.5M-6.6%	-$182.4M-46.0%	-$124.9M
Financing Cash Flow	$71.5M-76.5%	$304.5M+348.7%	$67.9M-91.6%	$803.9M+398.1%	$161.4M-53.0%	$343.7M-22.7%	$444.4M+236.6%	$132.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$2.6M+2471.8%	$103K-78.7%	$484K+476.2%	$84K-99.0%	$8.8M+339.0%	$2.0M+1716.4%	$110K-88.7%	$974K

RIOT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	48.3%+37.4pp	10.8%
Operating Margin	40.8%+63.2pp	-22.5%+175.4pp	-197.8%-183.8pp	-14.0%+114.7pp	-128.7%+9.1pp	-137.7%
Net Margin	29.0%+46.7pp	-17.6%+179.0pp	-196.6%-189.4pp	-7.2%+109.6pp	-116.8%+176.3pp	-293.1%
Return on Equity	3.5%	N/A	N/A	N/A	N/A	N/A
Return on Assets	2.8%+5.2pp	-2.4%+36.2pp	-38.6%-37.6pp	-1.0%+4.0pp	-5.0%+60.9pp	-66.0%
Current Ratio	3.74-4.6	8.33+4.7	3.65-1.5	5.14-93.4	98.57+94.8	3.75
Debt-to-Equity	0.19+0.2	0.00-0.1	0.15+0.0	0.13+0.1	0.01-0.1	0.16
FCF Margin	-131.5%-74.3pp	-57.2%-0.2pp	-57.1%+52.3pp	-109.4%-18.4pp	-91.0%+207.0pp	-298.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	44.4%-96.9pp	141.3%+286.2pp	-144.9%-276.9pp	132.0%+299.2pp	-167.2%-424.4pp	257.2%+213.7pp	43.5%+202.6pp	-159.1%
Net Margin	58.0%-85.5pp	143.5%+327.1pp	-183.6%-279.3pp	95.7%+216.3pp	-120.6%-387.7pp	267.1%+217.0pp	50.0%+204.3pp	-154.3%
Return on Equity	3.0%-3.7pp	6.7%	N/A	4.3%	N/A	8.6%+6.5pp	2.1%	N/A
Return on Assets	2.3%-2.8pp	5.1%+13.1pp	-8.0%-11.4pp	3.5%+6.6pp	-3.1%-11.2pp	8.1%+6.2pp	1.9%+7.4pp	-5.5%
Current Ratio	1.47+0.1	1.38-1.9	3.23-0.5	3.74-3.9	7.64-0.8	8.47+0.1	8.33+1.1	7.22
Debt-to-Equity	0.17-0.0	0.18-0.0	0.20+0.0	0.19+0.1	0.050.0	0.05+0.1	0.00-0.1	0.08
FCF Margin	-77.5%+113.2pp	-190.7%-94.7pp	-96.0%+13.8pp	-109.8%+27.4pp	-137.2%+8.1pp	-145.2%-144.6pp	-0.6%+89.9pp	-90.5%

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Frequently Asked Questions

What is Riot Platforms Ord Shs's annual revenue?

Riot Platforms Ord Shs (RIOT) reported $376.7M in total revenue for fiscal year 2024. This represents a 34.2% 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 Riot Platforms Ord Shs's revenue growing?

Riot Platforms Ord Shs (RIOT) revenue grew by 34.2% year-over-year, from $280.7M to $376.7M in fiscal year 2024.

Is Riot Platforms Ord Shs profitable?

Yes, Riot Platforms Ord Shs (RIOT) reported a net income of $109.4M in fiscal year 2024, with a net profit margin of 29.0%.

What is Riot Platforms Ord Shs's earnings per share (EPS)?

Riot Platforms Ord Shs (RIOT) reported diluted earnings per share of $0.34 for fiscal year 2024. This represents a 221.4% 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 Riot Platforms Ord Shs's EBITDA?

Riot Platforms Ord Shs (RIOT) had EBITDA of $359.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Riot Platforms Ord Shs have?

As of fiscal year 2024, Riot Platforms Ord Shs (RIOT) had $277.9M in cash and equivalents against $584.3M in long-term debt.

What is Riot Platforms Ord Shs's operating margin?

Riot Platforms Ord Shs (RIOT) had an operating margin of 40.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Riot Platforms Ord Shs's net profit margin?

Riot Platforms Ord Shs (RIOT) had a net profit margin of 29.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Riot Platforms Ord Shs's return on equity (ROE)?

Riot Platforms Ord Shs (RIOT) has a return on equity of 3.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Riot Platforms Ord Shs's free cash flow?

Riot Platforms Ord Shs (RIOT) generated -$495.4M in free cash flow during fiscal year 2024. This represents a -208.4% 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 Riot Platforms Ord Shs's operating cash flow?

Riot Platforms Ord Shs (RIOT) generated -$255.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Riot Platforms Ord Shs's total assets?

Riot Platforms Ord Shs (RIOT) had $3.9B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Riot Platforms Ord Shs's capital expenditures?

Riot Platforms Ord Shs (RIOT) invested $240.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Riot Platforms Ord Shs buy back shares?

Yes, Riot Platforms Ord Shs (RIOT) spent $11.6M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Riot Platforms Ord Shs have outstanding?

Riot Platforms Ord Shs (RIOT) had 345M shares outstanding as of fiscal year 2024.

What is Riot Platforms Ord Shs's current ratio?

Riot Platforms Ord Shs (RIOT) had a current ratio of 3.74 as of fiscal year 2024, which is generally considered healthy.

What is Riot Platforms Ord Shs's debt-to-equity ratio?

Riot Platforms Ord Shs (RIOT) had a debt-to-equity ratio of 0.19 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Riot Platforms Ord Shs's return on assets (ROA)?

Riot Platforms Ord Shs (RIOT) had a return on assets of 2.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Riot Platforms Ord Shs's cash runway?

Based on fiscal year 2024 data, Riot Platforms Ord Shs (RIOT) had $277.9M in cash against an annual operating cash burn of $255.1M. This gives an estimated cash runway of approximately 13 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 Riot Platforms Ord Shs's Altman Z-Score?

Riot Platforms Ord Shs (RIOT) has an Altman Z-Score of 4.40, placing it in the Safe Zone (low bankruptcy 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 Riot Platforms Ord Shs's Piotroski F-Score?

Riot Platforms Ord Shs (RIOT) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Riot Platforms Ord Shs's earnings high quality?

Riot Platforms Ord Shs (RIOT) has an earnings quality ratio of -2.33x, 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 Riot Platforms Ord Shs?

Riot Platforms Ord Shs (RIOT) scores 69 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.