WULF Profit Margins - TERAWULF INC.

Complete source-backed margin history.

Historical Profit Margins

Date	Gross margin	Operating margin	Net margin
2026-06-30	69.57%	-1094.27%	-7323.08%
2026-03-31	157.42%	-1248.21%	-3292.02%
2025-12-31	31.01%	-330.23%	-484.23%
2025-09-30	66.75%	-56.88%	-1049.11%
2025-06-30	46.24%	-32.73%	-38.56%
2025-03-31	20.23%	-173.31%	-178.51%
2024-12-31	36.14%	-146.99%	-83.45%
2024-09-30	39.96%	-58.06%	-84.01%
2024-06-30	60.88%	-19.02%	-30.57%
2024-03-31	66.05%	-5.46%	-22.65%
2023-12-31	40.64%	-20.04%	-45.20%
2023-09-30	56.38%	-51.12%	-100.76%
2023-06-30	66.92%	-37.82%	-113.48%
2023-03-31	56.63%	-79.95%	-227.67%
2022-12-31	44.82%	-139.94%	-260.80%
2022-09-30	-34.08%	-346.12%	-879.61%
2022-06-30	57.33%	-564.33%	-986.93%
2022-03-31	85.25%	-4224.42%	-8379.26%
2021-09-30	33.35%	-127.21%	-131.17%
2021-06-30	33.62%	-100.37%	-103.66%
2021-03-31	32.42%	-10.48%	-10.47%
2020-12-31	35.32%	6.78%	34.61%
2020-09-30	27.87%	-7.74%	-8.74%
2020-06-30	14.96%	-39.60%	-40.49%
2020-03-31	32.98%	-23.20%	-16.79%
2019-12-31	31.18%	-1.42%	-1.61%
2019-09-30	31.17%	-3.40%	-3.59%
2019-06-30	31.08%	-3.94%	-2.52%
2019-03-31	28.60%	-15.63%	-12.90%
2018-12-31	35.05%	3.94%	3.08%
2018-09-30	32.83%	-0.47%	-0.53%
2018-06-30	35.87%	4.25%	3.14%
2018-03-31	33.46%	-3.45%	-3.21%
2017-12-31	37.88%	8.23%	7.46%
2017-09-30	33.23%	-3.77%	-2.78%
2017-06-30	30.80%	-2.88%	-2.24%
2017-03-31	30.04%	-16.15%	-10.44%

Date	Gross margin	Operating margin	Net margin
2025-12-31	43.58%	-122.87%	-436.42%
2024-12-31	49.83%	-54.42%	-51.71%
2023-12-31	53.48%	-42.50%	-106.06%
2022-12-31	26.28%	-290.99%	-603.94%
2020-12-31	29.07%	-13.30%	-3.27%
2019-12-31	30.63%	-5.43%	-4.62%
2018-12-31	34.34%	1.24%	0.77%
2017-12-31	33.23%	-2.69%	-1.31%