There are key fundamentals of CleanSpark which are not covered in this article, but we must stress again that this is merely a basic overview. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. It turns out an average annual growth rate of 37% is expected, which signals high confidence from analysts. The company is therefore projected to breakeven around a year from now or less! We calculated the rate at which the company must grow to meet the consensus forecasts predicting breakeven within 12 months. They anticipate the company to incur a final loss in 2020, before generating positive profits of US$16m in 2021. Many investors are wondering about the rate at which CleanSpark will turn a profit, with the big question being “when will the company breakeven?” In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.Ĭonsensus from 2 of the American Software analysts is that CleanSpark is on the verge of breakeven. The US$483m market-cap company posted a loss in its most recent financial year of US$23m and a latest trailing-twelve-month loss of US$16m shrinking the gap between loss and breakeven. provides energy software and control technology solutions worldwide. Should any of these estimates.With the business potentially at an important milestone, we thought we'd take a closer look at CleanSpark, Inc.'s (NASDAQ:CLSK) future prospects. Read moreĭepreciation and amortization expense increased. General and administrative expenses increased. Payroll expenses increased to $8,883,047. Our investment in infrastructure development of $(2,830,560) was the main component of our negative investing cash flow for the three months ended December 31, 2020. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under Part II, Item 1A Risk Factors or in other parts of this Quarterly Report on Form 10-Q, as well as those identified in the Risk Factors section of our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. Our cash flows from financing activities for the three months ended Decemconsisted of proceeds from exercise of options and warrants of $281,616, and proceeds from underwritten offering of $67,988,999. Our positive cash flows from financing activities for the three months ended Decemconsisted of proceeds from exercise of options and warrants of $192,656 and proceeds from underwritten offering of $37,049,605, offset by payments on promissory notes of $(5,475,000). Our net income of $14,485,755 was the main component of our negative operating cash flow for the three months ended December 31, 2021, offset mainly by realized gain on digital currency $(9,994,791). Other Inside Cleanspark, Inc.'s 10-Q Quarterly Report: CleanSpark also has zero long-term debt, and we will be looking to use our strong balance sheet and operating cash flows as a springboard for future growth expansion.”įinancial Results for the Three Months Ended December 31, 2021 “Gross margins remain high at almost 80%, and much of that profitability translates to the bottom line as we saw $14.5m of net income and $24.1m of Adjusted EBITDA, which represents net margins of approximately 35% and 58%, respectively. “Our strong financial results are evidence of the operating leverage of our business model,” said Gary A. We look forward to sharing our corporate vision on our first quarter earnings call and discussing the strategic pillars we believe are crucial to our long-term success.” Focusing our efforts on our bitcoin mining segment allows the Company to capitalize on the tremendous opportunity bitcoin presents. “Given our success with bitcoin mining,” Bradford continued, “CleanSpark is considering strategic alternatives for our legacy energy business. “As of the date of this release, we have 20,900 machines in operation with a total hashrate exceeding 2.1 EH/s and producing approximately 10 bitcoin per day. “December 16 th marked our one-year anniversary of sustainable bitcoin mining and since then we have brought the Company to record revenues and profit,” said Zach Bradford, CleanSpark’s Chief Executive Officer. A sustainable bitcoin mining and energy technology company, today reported financial results for the three months ended December 31, 2021.
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