CleanSpark Inc (CLSK)
Gross profit margin
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 233,692 | 214,905 | 188,648 | 188,276 | 143,642 | 86,605 | 49,118 | 10,788 | 17,181 | 25,231 | 46,155 | 97,436 | 84,816 | 62,884 | 35,482 | 16,352 | 8,830 | 2,952 | 2,121 | 1,627 |
| Revenue (ttm) | US$ in thousands | 537,401 | 467,488 | 378,968 | 342,808 | 284,080 | 214,827 | 168,860 | 141,918 | 127,566 | 122,218 | 131,524 | 132,496 | 113,384 | 84,306 | 49,439 | 24,249 | 15,772 | 11,310 | 10,029 | 10,397 |
| Gross profit margin | 43.49% | 45.97% | 49.78% | 54.92% | 50.56% | 40.31% | 29.09% | 7.60% | 13.47% | 20.64% | 35.09% | 73.54% | 74.80% | 74.59% | 71.77% | 67.43% | 55.99% | 26.10% | 21.15% | 15.65% |
March 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $233,692K ÷ $537,401K
= 43.49%
The gross profit margin of CleanSpark Inc. has experienced significant fluctuations over the analyzed period, reflecting underlying variations in its revenue and cost structure. At the beginning of the period, as of June 30, 2020, the gross profit margin was approximately 15.65%. It showed a steady upward trend through 2020 and into the first half of 2021, culminating at 74.59% by December 31, 2021. This substantial increase indicates an improvement in profitability, likely driven by enhanced operational efficiencies, better product mix, or favorable economies of scale.
During 2022, the gross profit margin remained relatively high, with values around 73.54% in June. However, in the latter part of 2022, a pronounced decline occurred, with the margin dropping to 35.09% by September and further decreasing to 20.64% by December 2022. This sharp contraction could suggest increased cost pressures, changes in revenue mix, or operational challenges.
In 2023, the gross profit margin continued to decline initially, reaching a low of 13.47% in the first quarter, and then further decreasing to 7.60% by June. Subsequently, a recovery trend is observed, with margins rising to 29.09% in September and reaching 40.31% in December 2023. The upward trajectory persisted into early 2024, with the margin moving to 50.56% as of March 31, 2024, and further increasing to 54.92% by June 30, 2024.
The data indicates some stabilization and ongoing improvement during the latter part of the period, though fluctuations remain evident. The gross profit margin as of September 30, 2024, stands at 49.78%, and by the end of the period assessed, December 31, 2024, it is approximately 45.97%. The latest figure recorded on March 31, 2025, is 43.49%, suggesting a slight decline but maintaining levels above those seen in the early years of the period.
Overall, the gross profit margin exhibits a pattern characterized by periods of rapid growth, significant declines, and subsequent recoveries. These dynamics may reflect changes in product pricing strategies, cost management effectiveness, market conditions, and shifts in operational focus. The recent upward trend suggests improvements in profitability metrics, but the variability underscores the importance of ongoing analysis for strategic decision-making.
Peer comparison
Mar 31, 2025