Jun 2026 (Q2 FY26) — Aug 10, 2026
Riot Platforms Q2 FY26 — Data Center Expansion and AI Lab Lease
Read the full callRiot Platforms (RIOT) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Riot Platforms earnings: last reported Mon, 10 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 174 | +13.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -137.4 | −278.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -237 | −208.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
4 of 9 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| AMD initial lease Phase 2 delivery (remaining 20MW of critical IT capacity at Rockdale) | delivery in May 2026 | Dec 2025 | We commissioned and delivered the final phase of the first 25 megawatts of capacity in May to AMD on time and on budget, with AMD operating on the site since January. | Achieved |
| AMD lease expansion Phase 3 delivery (10MW at Rockdale) | delivery in November 2026 | Mar 2026 | with the initial 10 megawatts expected this November and the remaining 15 megawatts expected in May 2027. | On Track |
| Q1 FY26 deployed hash rate forecast | 45 EH/s | Jun 2025 | Riot produced 1,473 Bitcoin in the first quarter and ended the quarter with a deployed hash rate of 42.5 exahash. | Missed |
5 of Riot Platforms, Inc.'s 19 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 16 more targets are in the full ledger.
Claimed
- Secured a 20-year data center lease with a frontier AI lab for 191 MW, expected to generate $9.1 billion in total contract revenue.
- Total contracted data center revenue reached $9.8 billion across 241 MW with AMD and the AI lab.
- Corsicana's 1 GW site is under a nonbinding LOI with a single tenant for 756 MW of critical IT capacity.
- Achieved 84% operating lease gross margin in the Data Center segment, generating $4.1 million gross profit from recurring lease revenue.
- Engineering segment revenue more than tripled YoY to $37.3 million, with gross margin expanding to over 27%.
Qualified
- Reported a GAAP net loss of $237 million or $0.68 per diluted share.
- Adjusted EBITDA loss of $70 million.
- Incurred a $75 million mark-to-market loss on Bitcoin holdings.
- Recorded a $28 million impairment of mining-related construction items at Rockdale due to repurposing for data centers.
Price
$15.5 +2.65% · +$0.4
Performance −30.1% 1Y
1Y: $22.19 on 14 Oct 2025 → $15.5. High $28.69 (23 Jun 2026), low $11.83 (30 Mar 2026).
- Previous close
- $15.1
- 52-week range
- $11.83 – $28.69
- One year
- −29.96%
Overview
- Symbol
- RIOT
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 9 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| AMD initial lease Phase 2 delivery (remaining 20MW of critical IT capacity at Rockdale) | delivery in May 2026 | Dec 2025 | We commissioned and delivered the final phase of the first 25 megawatts of capacity in May to AMD on time and on budget, with AMD operating on the site since January. | Achieved |
| AMD lease expansion Phase 3 delivery (10MW at Rockdale) | delivery in November 2026 | Mar 2026 | with the initial 10 megawatts expected this November and the remaining 15 megawatts expected in May 2027. | On Track |
| Q1 FY26 deployed hash rate forecast | 45 EH/s | Jun 2025 | Riot produced 1,473 Bitcoin in the first quarter and ended the quarter with a deployed hash rate of 42.5 exahash. | Missed |
Claimed
- Secured a 20-year data center lease with a frontier AI lab for 191 MW, expected to generate $9.1 billion in total contract revenue.
- Total contracted data center revenue reached $9.8 billion across 241 MW with AMD and the AI lab.
- Corsicana's 1 GW site is under a nonbinding LOI with a single tenant for 756 MW of critical IT capacity.
- Achieved 84% operating lease gross margin in the Data Center segment, generating $4.1 million gross profit from recurring lease revenue.
- Engineering segment revenue more than tripled YoY to $37.3 million, with gross margin expanding to over 27%.
Qualified
- Reported a GAAP net loss of $237 million or $0.68 per diluted share.
- Adjusted EBITDA loss of $70 million.
- Incurred a $75 million mark-to-market loss on Bitcoin holdings.
- Recorded a $28 million impairment of mining-related construction items at Rockdale due to repurposing for data centers.
The full ledger
Open Riot Platforms, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 19 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
Riot Platforms Q1 FY26 — Strategic Data Center Expansion and Strong Financial Discipline
Read the full callDec 2025 (Q4 FY25) — Mar 2, 2026
Riot Platforms Q4 FY25 — Data Center Transformation and AMD Lease Validation
Read the full callEvery analysed call
Riot Platforms earnings calls (RIOT)
Financials
What the filings say
Net profit, year on year: −208% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 85 | 143 | 161 | 153 | 180 | 153 | 167 | 174 |
| Expenses | 206 | -46 | 395 | -63 | 100 | 837 | 667 | 414 |
| Operating profit | -122 | 188 | -234 | 216 | 80 | -684 | -500 | -239 |
| Operating margin | −143.3% | 132.0% | −144.9% | 141.3% | 44.4% | −447.9% | −298.9% | −137.4% |
| Other income | -33 | -51 | -62 | 4 | 26 | -9 | -0 | 2 |
| Net profit | -154 | 136 | -296 | 219 | 104 | -691 | -500 | -237 |
| EPS ($ per share) | -0.54 | — | -0.90 | 0.65 | 0.30 | — | -1.44 | -0.68 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 203 | 243 | 507 | 1,595 | 1,908 | 2,688 | 3,834 | 4,212 |
| Reserves | -197 | -217 | -230 | -247 | -756 | -800 | -690 | -1,354 |
| Total liabilities | 9 | 4 | 3 | 174 | 169 | 163 | 792 | 1,078 |
| Fixed assets | 0 | 5 | 10 | 276 | 693 | 704 | 1,339 | 1,529 |
| Investments | — | — | — | 11 | — | — | — | — |
| Total assets | 14 | 30 | 280 | 1,522 | 1,320 | 2,051 | 3,935 | 3,937 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -19 | -15 | -3 | -86 | 1 | 33 | -255 | -573 |
| Cash from investing | -25 | -3 | -41 | -491 | -355 | -415 | -1,509 | 76 |
| Cash from financing | 2 | 26 | 260 | 666 | 272 | 749 | 1,518 | 455 |
| Capital expenditure | -20 | -5 | -8 | -147 | -148 | -194 | -240 | -201 |
| Free cash flow | -39 | -20 | -11 | -233 | -148 | -161 | -495 | -774 |
RIOT revenue by segment
Bitcoin Mining shrank from 92% to 65% of revenue over the last six quarters.
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Bitcoin Mining | 89% | 92% | 89% | 86% | 67% | 65% | -19.3% |
| Engineering | 9% | 7% | 11% | 14% | 13% | 21% | +252.6% |
| Data Centers | — | — | — | — | 20% | 13% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RIOT operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Backlog Engineering | $224.6MEngineering backlog reached a record $224.6 million at the end of 2025, up dramatically from $55.9 million at the end of 2024, representing a 302% increase over the course of the year.Source: earnings call transcript | $193.4MEngineering backlog stood at $193.4 million during the quarter, with approximately 90% of backlog continuing to be driven by Data Center sector demand.Source: earnings call transcript | $177.1MEngineering revenue was $37.3 million in the quarter, more than triple the $10.6 million from a year ago, while gross margin expanded from approximately 7% to over 27%, with the data center sector representing approximately 90% of our $177.1 million backlog.Source: earnings call transcript | -8.4% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
39 filings between Dec 1, 2025 and Aug 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$9.50M
9 sales by 2 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 18
- Award — granted as compensation
- 1
- Option exercise — converted options into shares
- 9
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 disposition to issuer, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Les Jason | — | $6.29M | Jun 22, 2026 |
| Werner Ryan D. | — | $3.20M | Aug 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 12, 2026 | Howell Stephen Mitchell Jr. COO | Gift | 21,198 | $0 |
| Aug 5, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 9,802 | $223.7K |
| Aug 5, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 35,430 | $778.8K |
| Aug 5, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 2,501 | $58.8K |
| Jul 31, 2026 | Les Jason CEO | Tax withheld | 2,896,921 | $58.43M |
| Jul 31, 2026 | Werner Ryan D. SVP, CAO | Tax withheld | 148,500 | $3.00M |
| Jul 31, 2026 | Howell Stephen Mitchell Jr. COO | Tax withheld | 153,162 | $3.09M |
| Jul 7, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 10,232 | $217.1K |
| Jul 7, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 7,596 | $166.6K |
| Jul 1, 2026 | Werner Ryan D. SVP, CAO | Tax withheld | 13,869 | $332.3K |
| Jul 1, 2026 | D'Ambrosio Lance Varro Director | Award | 8,347 | $0 |
| Jul 1, 2026 | Les Jason CEO | Tax withheld | 101,015 | $2.42M |
| Jul 1, 2026 | Yee Colin M. Insider | Option exercise | 124,823 | $0 |
| Jul 1, 2026 | Leverton Jaime Director | Award | 8,347 | $0 |
| Jul 1, 2026 | Turner Michael John Director | Award | 8,347 | $0 |
| Jul 1, 2026 | Howell Stephen Mitchell Jr. COO | Tax withheld | 21,966 | $526.3K |
| Jul 1, 2026 | Mouton Douglas Director | Award | 8,347 | $0 |
| Jun 22, 2026 | Les Jason CEO | Sale 10b5-1 plan | 62,703 | $1.89M |
| Jun 22, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 25,375 | $761.3K |
| May 27, 2026 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 37,616 | $996.8K |
| May 11, 2026 | Les Jason CEO | Sale 10b5-1 plan | 175,000 | $4.41M |
| Apr 12, 2026 | Gibbs Jonathan CDCO (See Remarks) | Disposition to issuer | 1,147,910 | $0 |
| Jan 1, 2026 | Yi Soo il Benjamin EXECUTIVE CHAIRMAN | Award | 473,559 | $0 |
| Jan 1, 2026 | Les Jason CEO | Award | 473,559 | $0 |
| Jan 1, 2026 | Les Jason CEO | Award | 947,118 | $0 |
| Jan 1, 2026 | Yi Soo il Benjamin EXECUTIVE CHAIRMAN | Award | 947,118 | $0 |
| Jan 1, 2026 | Jackman William Richard CHIEF LEGAL OFFICER (CLO) | Award | 197,316 | $0 |
| Jan 1, 2026 | Jackman William Richard CHIEF LEGAL OFFICER (CLO) | Award | 394,632 | $0 |
| Jan 1, 2026 | Werner Ryan D. SVP, CAO | Tax withheld | 9,943 | $126.0K |
| Jan 1, 2026 | Werner Ryan D. SVP, CAO | Award | 59,194 | $0 |
| Jan 1, 2026 | Werner Ryan D. SVP, CAO | Award | 118,388 | $0 |
| Jan 1, 2026 | Chung Jason EVP, CORP DEV | Award | 236,779 | $0 |
| Jan 1, 2026 | Chung Jason EVP, CORP DEV | Award | 473,558 | $0 |
| Jan 1, 2026 | Howell Stephen Mitchell Jr. COO | Tax withheld | 29,482 | $373.5K |
| Jan 1, 2026 | Howell Stephen Mitchell Jr. COO | Award | 197,316 | $0 |
| Jan 1, 2026 | Howell Stephen Mitchell Jr. COO | Award | 394,632 | $0 |
| Jan 1, 2026 | Gibbs Jonathan CDCO | Award | 236,779 | $0 |
| Jan 1, 2026 | Gibbs Jonathan CDCO | Award | 473,558 | $0 |
| Dec 1, 2025 | Gibbs Jonathan CDCO | Tax withheld | 60,868 | $942.2K |
| Oct 10, 2025 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 14,984 | $344.6K |
| Oct 3, 2025 | Les Jason CEO | Sale 10b5-1 plan | 113,948 | $2.28M |
| Sep 29, 2025 | Les Jason CEO | Sale 10b5-1 plan | 12,800 | $256.0K |
| Sep 24, 2025 | Les Jason CEO | Sale 10b5-1 plan | 23,252 | $466.0K |
| Sep 10, 2025 | Jackman William Richard EVP, GENERAL COUNSEL | Sale | 248,168 | $3.92M |
| Jul 21, 2025 | Les Jason CEO | Sale 10b5-1 plan | 100,000 | $1.51M |
| Jul 11, 2025 | D'Ambrosio Lance Varro Director | Award | 16,103 | $0 |
| Jul 11, 2025 | Mouton Douglas Director | Award | 16,103 | $0 |
| Jul 11, 2025 | Turner Michael John Director | Award | 16,103 | $0 |
| Jul 11, 2025 | Leverton Jaime Director | Award | 16,103 | $0 |
| Jul 7, 2025 | Werner Ryan D. SVP, CAO | Sale 10b5-1 plan | 3,747 | $44.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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