Cipher Digital Inc. (NASDAQ:CIFR)
Insiders here have filed 29 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Loses money on what it sells.
- Revenue
- $191.1M
- Net income
- -$1.12B
- Net margin
- -585.8%
Heavily indebted for what it earns.
- Total debt
- $5.59B
- Cash
- $4.02B
- Debt / equity
- 9.94
Comfortably covers what is due within a year.
- Current assets
- $4.13B
- Current liabilities
- $1.38B
- Current ratio
- 3.00
Consumes cash and must keep raising it.
- Operating cash flow
- -$256.5M
- Free cash flow
- -$1.50B
- FCF margin
- -782.9%
Some dilution over the past year.
- Shares outstanding
- 409.4M
- Share growth (1y)
- 9.2%
- Cash runway
- 188 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
CIFR Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 23, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 24.84 M | 34.84 M | 59.71 M | 71.71 M | 43.56 M | 48.96 M |
| Revenue Growth (YoY) | -42.99 % | -28.84 % | 41.42 % | 197.51 % | 18.36 % | 1.71 % |
| Cost of Revenue | 57.41 M | 71.72 M | 58.98 M | 41.18 M | 30.99 M | 29.20 M |
| Gross Profit | -32.57 M | -36.88 M | 730.00 K | 30.53 M | 12.58 M | 19.76 M |
| SG&A Expense | 16.48 M | 11.74 M | 10.19 M | 8.17 M | 9.08 M | 8.95 M |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 40.07 M | 11.74 M | 229.67 M | 68.15 M | 57.82 M | 57.85 M |
| Operating Income | -72.64 M | -48.63 M | -228.94 M | -37.62 M | -45.24 M | -38.09 M |
| Pretax Income | -267.16 M | -113.91 M | -738.28 M | -3.59 M | -44.86 M | -38.83 M |
| Tax Provision | 367.00 K | 407.00 K | -4.07 M | -303.00 K | 917.00 K | 144.00 K |
| Net Income | -267.53 M | -114.32 M | -734.21 M | -3.28 M | -45.78 M | -38.98 M |
| EPS (Basic) | -0.65 | -0.28 | -1.93 | -0.01 | -0.12 | -0.11 |
| EPS (Diluted) | -0.65 | -0.28 | -1.93 | -0.01 | -0.12 | -0.11 |
| Shares Outstanding | 409.38 M | 405.11 M | 381.60 M | 376.37 M | 375.05 M | 360.51 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.