Marathon Digital Holdings Inc (MARA)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -848,536 | -290,086 | -140,652 | -17,679 | -2,665 |
| Revenue | US$ in thousands | 656,378 | 387,508 | 117,753 | 148,894 | 4,336 |
| Gross profit margin | -129.28% | -74.86% | -119.45% | -11.87% | -61.46% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-848,536K ÷ $656,378K
= -129.28%
Marathon Digital Holdings Inc's gross profit margin has shown fluctuations over the years based on the data provided. In December 31, 2020, the company had a notably low gross profit margin of -61.46%, which improved slightly to -11.87% by December 31, 2021. However, the margin deteriorated significantly to -119.45% by December 31, 2022, indicating that the cost of goods sold exceeded the revenue generated from sales.
The company's gross profit margin continued to fluctuate, reaching -74.86% by December 31, 2023, suggesting ongoing challenges in effectively managing production costs relative to sales. The most concerning trend was observed in December 31, 2024, where the gross profit margin deteriorated further to -129.28%, indicating a significant loss on each dollar of revenue generated.
Overall, the negative gross profit margins over the years raise concerns about the company's ability to efficiently control production costs and generate profits from its operations. It may be essential for Marathon Digital Holdings Inc to review its cost structure, pricing strategies, and operational efficiency to improve its gross profit margin and overall financial performance.
Peer comparison
Dec 31, 2024