RIOT Earnings Prediction
The chart below shows how RIOT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RIOT sees a -2.32% change in stock price 10 days leading up to the earnings, and a -7.36% change 10 days following the report. On the earnings day itself, the stock moves by -0.92%. This data can give you a slight idea of what to expect for the next quarter's release.
RIOT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
84.79M
63.39%
21.09%
Gross Margin
-56.79%
-61.46%
89.81%
Operating Margin
-121.09%
12.36%
24.58%
Net Margin
-182.06%
108.43%
50.95%
EPS
-0.54
-116.00%
68.75%
No Data Available
RIOT Earnings Analysis
Riot Platforms, Inc. Common Stock Corporation (RIOT.O) Earnings Conference Call
Positive
Hash Rate Increase: Riot's total deployed hash rate increased quarter-over-quarter by 27%, from 22 exahash to 28 exahash, meeting our quarter-end target of 28 exahash and on track to reach 35 exahash by the end of the year.
Power Credits Impact: During the third quarter of 2024, Riot generated $12.4 million in power credits, lowering our all-in cost of power to $3.1 cents per kilowatt hour during the third quarter, while also supporting the Texas grid during times of disruption in supply and demand.
Revenue Increase Analysis: Riot reported total revenue of $84.8 million as compared to $51.9 million for the third quarter of 2023, a 65% increase year-over-year, primarily driven by higher Bitcoin prices.
Bitcoin Mining Revenue Surge: Bitcoin mining revenue totaled $67.5 million, a 116% increase relative to third quarter 2023 Bitcoin mining revenue of $31.2 million.
Hash Rate Increase: Riot ended the third quarter of 2024 with an installed hash rate of 28 exahash, a 159% increase relative to the third quarter of 2023, and meeting our guidance for the quarter.
Negative
Net Loss Increase: Riot reported a net loss of $154.4 million for the third quarter of 2024, compared to a net loss of $80 million in the same period of 2023, indicating a significant deterioration in financial performance.
Gross Profit Decline: Gross profit for the third quarter of 2024 was $24.3 million, down from $37.7 million in the third quarter of 2023, reflecting a decline in profitability.
EBITDA Loss Worsens: Non-GAAP adjusted EBITDA for the quarter showed a loss of $3.6 million, worsening from a loss of $3.1 million in the third quarter of 2023, highlighting ongoing operational challenges.
Q3 Revenue Surge: Riot's total revenue for the third quarter of 2024 was $84.8 million, which, despite being a 65% increase year-over-year, still reflects the impact of reduced Bitcoin production post-halving.
Operating Hash Rate Analysis: The average operating hash rate during the third quarter of 2024 was approximately 23 exahash, which is lower than the expected growth trajectory, indicating potential inefficiencies in scaling operations.
RIOT FAQs
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RIOT Earning Call Sentiment
Riot Platforms, Inc. (RIOT) Q3 2024 Earnings Call Transcript
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RIOT.O
-9.83%Positive
Despite the significant year-over-year revenue increase, the earnings call highlighted several negative factors: increased operational costs, a net loss, reduced gross profit margins, and regulatory and economic challenges. The Q&A section revealed concerns about utilization rates and ongoing litigation, with management providing limited details. The lack of a shareholder return plan and reduced capital expenditure guidance further contribute to the negative sentiment. Given the market cap and these factors, the stock is likely to experience a negative movement of -2% to -8% over the next two weeks.
