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Nasdaq · Financials

Riot Platforms, Inc. (RIOT)

As-reported financials and SEC filings for Riot Platforms, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Riot Platforms, Inc.

Riot Platforms, Inc. is a digital infrastructure company that operates large-scale data centers primarily for Bitcoin mining and scalable data center solutions. It owns and manages facilities in Texas and Kentucky that provide power and infrastructure for Bitcoin mining operations and data center tenants. The company also designs and manufactures power-distribution equipment through its Engineering segment to support its site development and expansion projects.

Snapshot

Revenue
$647.4M
Revenue growth (YoY)
71.9%
Net income
$-663.2M
Diluted EPS
$-1.95
Gross margin
—
Operating margin
—
Net margin
—
FCF margin
—
ROE
-23.2%
net income / fiscal-year-end equity
P/E
n/m
not meaningful: a reported loss in the fiscal year or the trailing twelve months
Market cap
$6.34B
Long-term debt / equity
0.21×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Riot Platforms

  • Revenue grew 71.9% to $647M in FY2025, faster than the 34.2% the year before.
  • Operating margin is -96.1% in FY2025, -82.1 pp against -14.0% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $174M, up 13.9% from Q2 FY2025.
  • Free cash flow was negative $774M in FY2025.
  • Net income turned to a $663M loss in FY2025, from a $109M profit in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Riot Platforms’s fundamentals sit among the 424 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Revenue growth (YoY)+71.9%
93rd percentile of 418
ROE-23.2%
13th percentile of 373
Long-term debt / equity0.21×
36th percentile of 192
Short interest2.81d
36th percentile of 419

Riot Platforms’s revenue growth of +71.9% ranks in the 93rd percentile of the 418 Financials companies reporting it. Riot Platforms’s return on equity of -23.2% ranks in the 13th percentile of the 373 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 3 insider sales totaling $1.1M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
7
4 new, 3 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$888.3M
reported long value
InvestorAs ofPosition valueSharesChange
Starboard ValueQ2 2026$276.9M10.1MReduced
D. E. ShawquantQ2 2026$149.4M5.5MHeld
Point72 Asset ManagementquantQ2 2026$101.7M3.7MNew
Two Sigma InvestmentsquantQ2 2026$99.5M3.6MAdded
Sachem Head Capital ManagementQ2 2026$78.4M2.9MNew
Citadel AdvisorsquantQ2 2026$54.6M2.0MReduced
Millennium ManagementquantQ2 2026$45.9M1.7MAdded
AQR Capital ManagementquantQ2 2026$35.9M1.3MAdded
Renaissance TechnologiesquantQ2 2026$25.4M926.7KNew
Duquesne Family OfficeQ2 2026$20.7M754.8KNew

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
3
$1.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-05
filed 2026-08-07
Ryan D. WernerSVP, CAOSell35.4K$21.98$779K
2026-08-05
filed 2026-08-07
Ryan D. WernerSVP, CAOSell9.8K$22.82$224K
2026-08-05
filed 2026-08-07
Ryan D. WernerSVP, CAOSell2.5K$23.53$59K
2026-07-07
filed 2026-07-09
Ryan D. WernerSVP, CAOSell10.2K$21.22$217K
2026-07-07
filed 2026-07-09
Ryan D. WernerSVP, CAOSell7.6K$21.93$167K
2026-06-22
filed 2026-06-24
Jason LesCEOSell62.7K$30.09$1.9M
2026-06-22
filed 2026-06-24
Ryan D. WernerSVP, CAOSell25.4K$30.00$761K
2026-05-27
filed 2026-05-29
Ryan D. WernerSVP, CAOSell37.6K$26.50$997K
2026-05-11
filed 2026-05-13
Jason LesCEOSell175.0K$25.19$4.4M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
48.2M
settled 2026-09-30
Change vs prior
-5.7%
vs previous settlement
Days to cover
2.81
at avg daily volume
Avg daily volume
17.2M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3048.2M-5.7%2.81
2026-09-1551.1M-1.5%3.60
2026-08-3151.9M+3.6%3.01
2026-08-1450.0M-3.0%1.93
2026-07-3151.6M-3.4%2.65
2026-07-1553.4M-1.3%3.52
2026-06-3054.1M-2.6%3.43
2026-06-1555.6M-10.9%3.57

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$647.4M$376.7M$280.7M$259.2M$213.2M
Gross profit—————
Operating income$-622.2M$153.6M$-63.0M$-512.7M$-29.9M
Net income$-663.2M$109.4M$-49.5M$-509.6M$-15.4M
Diluted EPS$-1.95$0.34$-0.28$-3.65$-0.17

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-572.9M$-255.1M$33.1M$530,000$-86.1M
Capital expenditure$201.4M$240.3M$193.7M$148.4M$147.1M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$174.2M13.9%$-237.2M$-0.68
Q1 FY2026$167.2M3.6%$-500.5M$-1.44
Q4 FY20257.2%
Q3 FY2025$180.2M112.6%$104.5M$0.26
Q2 FY2025$153.0M118.5%$219.5M$0.58
Q1 FY2025$161.4M103.5%$-296.4M$-0.90
Q4 FY202480.9%
Q3 FY2024$84.8M63.4%$-154.4M$-0.54

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorFinancials
SIC industryFinance Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2013
SEC CIK1167419

Selected SEC filings

10-K2026-03-02
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
8-K2026-10-14
View on EDGAR →
8-K2026-10-07
View on EDGAR →
8-K2026-09-25
View on EDGAR →
8-K2026-08-14
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.