CleanSpark Inc (CLSK)
Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | -242,723 | 32,422 | -149,043 | -152,535 | 80,958 | -73,649 | -131,043 | -102,612 | -102,343 | -82,058 | -37,864 | -2,498 | 838 | -4,458 | -25,939 | -28,383 | -18,547 | -18,322 | -15,143 | -17,217 |
| 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 |
| Operating profit margin | -45.17% | 6.94% | -39.33% | -44.50% | 28.50% | -34.28% | -77.60% | -72.30% | -80.23% | -67.14% | -28.79% | -1.89% | 0.74% | -5.29% | -52.47% | -117.05% | -117.59% | -162.00% | -150.99% | -165.60% |
March 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-242,723K ÷ $537,401K
= -45.17%
The operating profit margin of CleanSpark Inc has demonstrated significant variability over the analyzed period. From June 30, 2020, through March 31, 2021, the company experienced substantial negative operating margins, with values ranging from -165.60% to -117.59%, indicating periods of considerable operating loss relative to revenues. Throughout 2021, there was a marked improvement, with the operating margin progressing toward less negative figures, culminating in a relatively narrow margin of -5.29% by December 31, 2021.
In 2022, the company experienced fluctuating performance, initially crossing into slight positive territory at 0.74% in March 2022, but then reverting to negative margins for the remainder of the year, with the lowest point at -67.14% in December 2022. The first half of 2023 saw continued negative margins, reaching as low as -80.23%, with some signs of slight improvement by June and September 2023, though the margins remained negative.
A notable shift occurred at the end of 2023 and beginning of 2024, when the operating profit margin turned positive again, reaching 28.50% on March 31, 2024, the highest in the period analyzed. This indicates a period of operational profitability. However, this positive momentum did not sustain, as margins reverted to negative in subsequent quarters, with -44.50% on June 30, 2024, and -39.33% on September 30, 2024. Nevertheless, a partial recovery was observed as the margin turned positive again to 6.94% on December 31, 2024. The latest available data reflects a return to negative territory at -45.17% on March 31, 2025.
Overall, the operating profit margin trend suggests that while CleanSpark Inc has faced substantial operational challenges resulting in significant losses for much of the period, there have been intermittent periods of profitability, notably in early 2024. These fluctuations highlight the company's transitional phase, with recent signs indicating potential improvement but also ongoing volatility in operational efficiency and profitability.
Peer comparison
Mar 31, 2025