MARA · XBRL financial data

MARA Holdings financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MARA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	—	159	118	388	656	907
Revenue from contracts with customers	4	150	118	58	97	59
Cost of revenue	7	—	—	—	—	—
Cost of goods and services sold	7	42	151	403	816	—
Gross profit	—	117	(34)	—	—	—
Research and development	—	—	0	3	13	30
General and administrative	1	2	57	95	272	350
Total operating expenses	7	236	630	(236)	(465)	—
Operating income (loss)	(10)	(85)	(664)	221	306	(1,224)
Interest income	0	1	1	3	17	56
Interest expense	0	2	15	10	13	48
Other income (expense)	0	0	1	3	(8)	(27)
Income tax expense (benefit)	0	23	(22)	16	75	(56)
Net income (loss)	(10)	(36)	(687)	261	541	(1,311)
Earnings per share, basic USD per share	(0.13)	(0.36)	(6.05)	1.41	1.87	(3.69)
Earnings per share, diluted USD per share	(0.13)	(0.36)	(6.12)	1.06	1.72	(3.69)
Weighted average shares, basic millions of shares	81	99	113	184	290	355
Weighted average shares, diluted millions of shares	81	99	113	192	312	355

Fiscal years (MARA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	141	269	104	357	392	547
Short-term investments	—	224	—	—	—	—
Prepaid and other current assets	2	8	41	23	36	44
Total current assets	286	688	278	1,030	470	664
Property and equipment, net	17	276	273	672	1,549	1,491
Right-of-use asset	0	—	1	0	17	32
Goodwill	—	—	—	0	83	0
Total assets	313	1,448	1,195	1,991	6,801	7,287
Accounts payable	—	8	1	11	13	13
Accrued liabilities	—	3	22	22	77	87
Current portion of long-term debt	—	—	0	0	0	398
Total current liabilities	1	14	26	34	95	522
Total deposits	—	34	43	67	—	—
Long-term debt	—	—	782	326	2,447	3,202
Lease liability, non-current	—	—	1	0	23	40
Total liabilities	2	765	—	—	—	—
Accumulated deficit	(116)	(152)	(840)	(568)	(26)	(1,338)
Total stockholders' equity	312	683	386	1,616	4,129	3,472
Total liabilities and equity	313	1,448	1,195	1,991	6,801	7,287
Common shares outstanding (cover page) millions of shares	99	103	167	268	346	380

Fiscal years (MARA's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(10)	(36)	(687)	261	541	(1,311)
Stock-based compensation	1	161	25	33	158	172
Net cash from operating activities	(8)	(18)	(176)	(316)	(677)	(803)
Purchases of property and equipment	18	274	41	28	251	407
Net cash from investing activities	(81)	(892)	(390)	5	(3,229)	(670)
Proceeds from issuing common stock	230	325	361	608	1,852	569
Share repurchases	—	—	0	0	35	47
Net cash from financing activities	230	1,037	411	556	3,953	1,628
Net change in cash	141	127	(156)	245	46	155

SIC 6199 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6199 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.
A cell reading “year only” links to a 10-K that gives only the full year: without all three earlier quarters there is no fourth quarter to work out, and the year total is never shown as a quarter.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
MARA Holdings	421	175	(224)*	386.3M	1.9 quarters	Q2 FY26 10-QJun 30, 2026
Upstart Holdings	461	371	(20)*	98.9M	4.7 quarters	Q3 FY26 10-QSep 30, 2026
Core Scientific, Inc./tx	1,770	164	(19)*	321.3M	93.5 quarters	Q2 FY26 10-QJun 30, 2026
Chime Financial	536	670	207*	not reported	—	Q2 FY26 10-QJun 30, 2026
Dave	270	198	not reported	not reported	—	Q3 FY26 10-QSep 30, 2026
Burford Capital	464	147	(127)*	219.6M	6.6 quarters	Q3 FY26 10-QSep 30, 2026
IREN	5,896	137*	year only	not reported	—	Q4 FY26 10-KJun 30, 2026
WhiteFiber	56	29	86*	38.8M	—	Q2 FY26 10-QJun 30, 2026
Riot Platforms	669	181	(214)*	375.2M	2.8 quarters	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.