MARA: financial statements from SEC — TradeAlmanac

MARA

MARA Holdings, Inc.: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	907m	656m
Cost of revenue	—	816m
Research and development	30m	13m
Selling, general and administrative	350m	254m
Operating expenses	—	−465m
Operating income	−1.22bn	306m
Pre-tax income	−1.37bn	617m
Income tax	−56m	75m
Net income	−1.31bn	541m
Earnings per share	−3.69	1.87
Earnings per share, diluted	−3.69	1.72
Weighted average shares	355m	290m
Weighted average shares, diluted	355m	312m

Balance sheet

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	514m	547m	826m	109m	196m	392m	164m	256m
Receivables	—

Cash flow

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	−803m	−677m
Depreciation and amortisation	773m	429m
Share-based compensation	172m	158m
Capital expenditure	407m	251m
Investing cash flow	−670m	−3.23bn
Share buybacks	47m

Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)