NASDAQ$WULF

Terawulf Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

TeraWulf expanded its mining capacity and increased its self-mined Bitcoin production.

TeraWulf reported a revenue of $3.9 million and produced 117 self-mined Bitcoin during the third quarter of 2022. The company expanded its operational miner fleet to 14,968 miners with a hash rate capacity of 1.5 EH/s.

  • Expanded operational miner fleet to 14,968 miners for a hash rate capacity of 1.5 EH/s.
  • Generated revenue of $3.9 million and produced 117 self-mined Bitcoin.
  • Remains on target to deliver 160 MW of operational capacity and 4.0 EH/s of self-mining in Q1 2023.
  • TeraWulf’s 25% stake preserves the benefit of its 50 MW of mining capacity at $0.02 per kilowatt hour at Nautilus Cryptomine facility.

Headline financials

Total Revenue

$3.86M

Previous: $4.74M-18.5%
EPS (adj)

-$0.31

Previous: -$0.43+27.9%
Capital Expenditures

-$50.5M

Previous: -$13.7K-370032.5%
Free Cash Flow

-$84.5M

Previous: -$865K-9668.6%
Net Income

-$34M

Previous: -$852K-3890.4%
Operating Income

-$13.4M

Previous: -$827K-1518.0%
Gross Profit

-$1.32M

Previous: $1.58M-183.2%
Cash & Equivalents

$4.47M

Previous: $1.5M+197.6%
Total Assets

$310M

Previous: $12.4M+2402.9%
Stock-Based Comp

$568K

Previous: $73K+678.5%

Revenue & EPS history

Terawulf · Revenue · Quarterly

$3.86M

Q3 2022-18.5%vs Q3 2021
Beat estimate in 3 of 14 quarters(21%)
ActualEstimate

Forward guidance

TeraWulf is targeting 160 MW of operational capacity and 4.0 EH/s of self-mining in Q1 2023 and continues to target achieving a total of approximately 5.8 EH/s of operational mining capacity across its two mining facilities in Q1 2023.

Tailwinds

  • Remains on target to deliver 160 MW of operational capacity in Q1 2023.
  • Remains on target to deliver 4.0 EH/s of self-mining in Q1 2023.
  • Construction activities on Building 2 are substantially complete.
  • Nautilus Cryptomine facility is projected to begin mining in December 2022.
  • TeraWulf continues to target achieving a total of approximately 5.8 EH/s of operational mining capacity across its two mining facilities in Q1 2023.

Historical earnings impact

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-1.0%

Avg return

Earnings day

-3.2%

Avg return

5 days after

+1.0%

Avg return

30 days after

29%

18 / 63 earnings

Positive

+51.9%

Q4 2013

Best reaction

-24.4%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.7%-3.8%-0.2%
Q4 2025-9.2%-14.0%-16.7%
Q3 2025-13.6%-23.1%+10.7%
Q1 2025-9.1%+10.9%+31.8%
Q4 2024+16.1%+2.8%-24.7%
Q3 2024-16.7%-18.6%-14.6%
Q2 2024-12.7%+6.3%+16.6%
Q1 2024-8.5%-12.6%+72.2%
Q4 2023+34.7%+42.2%+23.1%
Q3 2023-1.9%+8.2%+66.3%
Q2 2023-9.4%-22.7%-32.2%
Q1 2023-1.9%-2.5%-13.1%
Q4 2022+20.5%+23.1%+128.2%
Q3 2022+7.8%-16.5%-43.5%
Q2 2022-24.4%-26.9%-39.9%
Q1 2022-1.5%-10.7%-40.7%
Q4 2021-3.2%-4.6%-55.3%
Q3 2021-4.1%-1.0%+46.7%
Q2 2021+5.6%+3.9%+22.9%
Q1 2021+0.8%+3.1%-3.7%
Q4 2020-18.3%-28.1%-22.0%
Q3 2020-6.7%-19.0%+8.4%
Q2 2020+3.5%+2.2%-5.6%
Q1 2020+1.4%+4.1%-2.0%
Q4 2019-7.0%-6.2%-38.4%
Q3 2019-4.4%-6.0%-10.8%
Q2 2019-9.1%-9.0%-13.8%
Q1 2019-7.0%-6.3%-1.4%
Q4 2018+4.5%+2.0%+0.9%
Q3 2018+0.0%-6.3%+5.1%
Q2 2018+0.5%-7.8%+6.6%
Q1 2018-3.8%-4.4%+7.2%
Q4 2017+16.5%+30.1%+10.6%
Q3 2017-3.0%-1.1%-6.4%
Q2 2017-2.4%-1.9%-6.8%
Q1 2017-6.1%-6.8%-14.4%
Q4 2016-1.5%-1.9%-6.1%
Q3 2016-0.2%-0.7%+10.2%
Q2 2016+0.0%-0.3%-15.6%
Q1 2016+4.5%
Q4 2015-0.7%
Q3 2015-3.8%
Q2 2015-8.9%
Q1 2015-4.1%
Q4 2014-7.2%
Q3 2014-7.7%
Q2 2014-0.6%
Q1 2014-10.1%
Q4 2013+51.9%
Q3 2013-2.9%
Q2 2013-5.7%
Q1 2013+0.5%
Q4 2012+17.6%
Q3 2012-6.5%
Q2 2012+0.0%
Q1 2011-0.4%
Q1 2012+0.0%
Q4 2011+0.0%
Q3 2011-8.8%
Q3 2010-8.8%
Q2 2010+5.0%
Q2 2011+5.0%
Q4 2010+5.0%

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