Marathon Digital Holdings Inc (MARA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -290,086 | -140,652 | -17,679 | -2,665 | -1,179 |
| Revenue | US$ in thousands | 387,508 | 117,753 | 148,894 | 4,336 | 1,303 |
| Gross profit margin | -74.86% | -119.45% | -11.87% | -61.46% | -90.48% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-290,086K ÷ $387,508K
= -74.86%
The gross profit margin of Marathon Digital Holdings Inc has shown significant fluctuations over the past five years. In 2023, the gross profit margin was reported at -74.86%, indicating that the company's cost of goods sold exceeded its revenue from sales by a substantial margin. This negative gross profit margin suggests inefficiencies in production or pricing strategies that need to be addressed.
Comparing to previous years, the gross profit margin was even lower in 2022 at -119.45%, reflecting a worsening financial performance. The company experienced a slight improvement in 2021 with a gross profit margin of -11.87%, although it remained negative, signaling operational challenges in generating profits from its core business activities.
In 2020 and 2019, the gross profit margins were -61.46% and -90.48%, respectively, indicating consistent struggles in achieving profitability and operating efficiency. Overall, Marathon Digital Holdings Inc's gross profit margin trend highlights the need for the company to enhance its cost management strategies, streamline operations, and potentially revisit its pricing structure to improve its financial performance and competitiveness in the market.
Peer comparison
Dec 31, 2023