CleanSpark Inc (CLSK)
Gross profit margin
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 213,452 | 29,114 | 49,371 | 12,842 | 2,121 |
| Revenue | US$ in thousands | 378,968 | 168,408 | 131,525 | 39,287 | 10,029 |
| Gross profit margin | 56.32% | 17.29% | 37.54% | 32.69% | 21.15% |
September 30, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $213,452K ÷ $378,968K
= 56.32%
The gross profit margin of CleanSpark Inc. demonstrates notable fluctuations over the specified period from September 30, 2020, through September 30, 2024. Initially, the gross profit margin was 21.15% as of September 30, 2020, indicating that a relatively modest portion of revenue remained after accounting for the cost of goods sold. This figure increased significantly by September 30, 2021, reaching 32.69%, reflecting improved efficiency or higher-margin sales during that period. The upward trend continued into September 30, 2022, with the gross profit margin rising further to 37.54%, which suggests continued operational improvement or favorable product mix.
However, by September 30, 2023, there was a sharp decline to 17.29%, signaling a possible deterioration in profitability at the gross level. This decline could be attributed to increased costs, changes in sales mix, or pricing pressures affecting gross margins. Interestingly, the gross profit margin then surged dramatically to 56.32% as of September 30, 2024. Such a substantial increase indicates a significant positive shift in gross profitability, which may be associated with strategic initiatives, operational efficiencies, higher-margin product sales, or reduced costs.
Overall, the trajectory of CleanSpark Inc.'s gross profit margin reveals periods of both expansion and contraction, with recent years showing substantial improvement by 2024. The fluctuations highlight the company's varying operational performance over time, reflecting changing market conditions, cost structures, and management strategies affecting gross profitability.
Peer comparison
Sep 30, 2024