NASDAQ$RIOT

Riot Platforms Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Riot Platforms reported Q3 2025 revenue of $180.2M and net income of $104.5M ($0.26 per diluted share).

Total revenue increased to $180.2 million as bitcoin mining revenue reached $160.8 million. Net income was $104.5 million after the Rhodium settlement and improved hash price, with diluted EPS of $0.26.

  • Q3 revenue $180.2M; bitcoin mining $160.8M.
  • Net income $104.5M; diluted EPS $0.26.
  • Engineering and other segments contributed $19.4M.
  • Rhodium settlement reshaped Rockdale hosting economics.

Headline financials

Total Revenue

$180M

Previous: $84.8M+112.6%
EPS (adj)

$0.26

Previous: -$0.54+148.1%
Bitcoin Produced

1.4K

Previous: 1.1K+27.4%
Cost to Mine (Incl. Depreciation)

$89.1K

Previous: $75.5K+18.0%
Total Liquidity

$2.2B

No prior period
Capital Expenditures

-$119M

Previous: -$182M+34.7%
Net Income

$104M

Previous: -$154M+167.7%
Operating Income

$101M

Previous: -$122M+183.4%
Gross Profit

$101M

Previous: $84.8M+19.6%

Revenue & EPS history

Riot · Revenue · Quarterly

$180M

Q3 2025+112.6%vs Q3 2024
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

Riot · $151M total across 2 segments · Q2 2025

  • Bitcoin Mining
    $141M—
  • Engineering
    $10.6M—

Forward guidance

Management discusses operating priorities, capital allocation, and sector-specific risks in the quarterly filing.

Tailwinds

  • Headline results and segment commentary anchor the quarter.
  • Balance sheet and liquidity support ongoing operations.
  • Strategic initiatives cited in MD&A.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.
  • Execution risk on guidance or restructuring plans.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-1.5%

Avg return

Earnings day

-1.2%

Avg return

5 days after

+9.1%

Avg return

30 days after

35%

14 / 40 earnings

Positive

+37.3%

Q4 2018

Best reaction

-20.3%

Q2 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026+7.9%+27.3%+69.6%
Q4 2025-4.3%-13.8%-21.7%
Q3 2025-5.6%-10.1%-23.5%
Q1 2025+7.8%+0.9%+3.9%
Q4 2024-6.7%-7.1%-22.2%
Q3 2024-15.0%-17.4%+16.4%
Q2 2024-10.1%-19.9%-27.4%
Q1 2024+1.9%+6.5%-3.7%
Q4 2023-1.7%+11.3%-24.5%
Q3 2023-6.6%-5.9%+35.1%
Q2 2023-12.2%-14.2%-35.9%
Q1 2023-6.4%-3.1%-9.7%
Q4 2022+3.3%+0.5%+62.7%
Q3 2022-7.9%-7.8%-27.1%
Q2 2022-7.7%-27.0%-23.9%
Q1 2022-10.8%+3.9%-28.7%
Q4 2021+23.6%+31.6%+0.4%
Q3 2021-16.5%-18.1%-41.5%
Q2 2021+9.6%+12.4%-16.3%
Q1 2021-1.8%-12.2%+31.4%
Q4 2020+1.0%-10.1%-46.6%
Q3 2020-5.5%+9.0%+142.5%
Q2 2020-4.0%+0.3%-21.8%
Q1 2020-13.5%+12.4%+67.6%
Q4 2019+2.3%-0.8%+56.6%
Q3 2019-1.3%-1.3%-13.7%
Q2 2019+2.8%-6.6%-3.8%
Q1 2019+22.6%+24.2%-25.6%
Q4 2018+37.3%+26.0%+25.4%
Q3 2018-15.5%-15.5%-13.7%
Q2 2018-20.3%-20.0%-43.4%
Q1 2018+5.9%-7.6%-12.9%
Q4 2017-6.0%-9.0%+30.1%
Q3 2017-2.0%+13.5%+221.6%
Q2 2017-1.3%-3.2%+5.3%
Q1 2017-3.3%+0.3%+8.6%
Q4 2016-2.0%-3.5%-7.6%
Q3 2016+0.4%+5.6%+46.4%
Q2 2016+4.1%+1.3%+24.7%
Q1 2016-3.2%——
Q4 2015———
Q3 2015———
Q2 2015———
Q1 2015———
Q4 2014———
Q3 2014———
Q2 2014———
Q1 2014———
Q4 2013———
Q3 2013———
Q2 2013———
Q1 2013———
Q4 2012———
Q3 2012———
Q2 2012———
Q1 2012———
Q4 2011———
Q3 2011———
Q2 2011———
Q1 2011———
Q4 2010———
Q3 2010———
Q2 2010———
Q1 2010———

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