Financial Statements · From SEC 10-K & 10-Q XBRL Filings
Mara Holdings Inc. Revenue & Financial Statements
Mara Holdings Inc. reported revenue of $907.1M for the fiscal year ended December 31, 2025, up 839.8% year over year, with net income of $(1.3B) and diluted EPS of $-3.69.
- Company
- Mara Holdings Inc. MARA · NASDAQ
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 150.5M | 117.8M | 57.7M | 96.5M | 907.1M |
| Cost of revenue | — | 151.4M | 402.9M | 815.8M | — |
| Gross profit | — | (33.7M) | (345.2M) | (719.2M) | — |
| Operating income | (85.1M) | (663.9M) | 220.9M | 306.1M | (1.2B) |
| Pretax income | (13.2M) | (708.6M) | 277.6M | 616.5M | (8.6M) |
| Net income | (36.2M) | (686.7M) | 259.1M | 541.3M | (1.3B) |
| Diluted EPS | -0.36 | — | 1.06 | 1.72 | -3.69 |
| EBITDA | (70.3M) | (585.2M) | 400.4M | 709.8M | (451.5M) |
Quarterly
| USD | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 43.2M | 26.4M | 17.1M | 9.8M | 14.7M | 15.2M | 16.8M | 202.3M |
| Cost of revenue | 168.2M | 181.7M | 198.7M | 267.2M | — | — | — | — |
| Gross profit | (125.0M) | (155.3M) | (181.6M) | (257.3M) | — | — | — | — |
| Operating income | 369.7M | (232.4M) | (172.2M) | 341.0M | (541.1M) | 679.8M | 47.6M | (1.4B) |
| Pretax income | 375.2M | (231.3M) | (173.9M) | 646.5M | (652.6M) | 1.0B | 160.8M | (1.9B) |
| Net income | 337.2M | (199.7M) | (124.8M) | 528.5M | (533.2M) | 808.2M | 123.1M | (1.7B) |
| Diluted EPS | 1.26 | -0.72 | -0.42 | 1.67 | -1.55 | 1.84 | 0.27 | -4.59 |
| EBITDA | 447.7M | (144.6M) | (71.1M) | 477.8M | (386.3M) | 838.7M | 211.2M | (1.1B) |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 1.4B | 1.2B | 2.0B | 6.8B | 7.3B |
| Current assets | 688.2M | 277.5M | 1.0B | 470.4M | 664.3M |
| Cash & equivalents | 268.5M | 103.7M | 357.3M | 391.8M | 547.1M |
| Total liabilities | 765.2M | — | — | — | — |
| Current liabilities | 13.8M | 26.1M | 33.8M | 95.2M | 521.9M |
| Long-term debt | — | — | 325.7M | — | 3.2B |
| Total debt | — | — | 325.7M | — | 3.6B |
| Stockholders’ equity | 683.0M | 385.9M | 1.6B | 4.1B | 3.5B |
| Net debt | — | — | (31.7M) | — | 3.1B |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | (18.2M) | (176.5M) | (315.7M) | (677.0M) | (802.7M) |
| Investing cash flow | (891.9M) | (390.2M) | 4.6M | (3.2B) | (669.9M) |
| Financing cash flow | 1.0B | 410.7M | 555.9M | 4.0B | 1.6B |
| Capital expenditure | — | 41.1M | 27.6M | 250.8M | 407.1M |
| Free cash flow | — | (217.6M) | (343.3M) | (927.8M) | (1.2B) |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | 160.8M | 24.6M | 32.6M | 157.6M | 172.3M |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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