Marathon Digital Holdings Inc (MARA)
Gross profit margin
| 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 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | -330,921 | -172,285 | -90,856 | -92,980 | -171,955 | -149,467 | -18,934 | -47,773 | 66,881 | 51,116 | -15,432 | 30,057 | 4,654 | -2,665 | -2,401 | -1,770 | -1,463 | -1,179 | -1,352 | -1,995 |
| Revenue (ttm) | US$ in thousands | 501,574 | 387,508 | 259,157 | 202,180 | 199,776 | 197,548 | 227,846 | 238,681 | 188,647 | 148,895 | 92,824 | 41,952 | 12,910 | 4,337 | 2,126 | 1,600 | 1,664 | 1,303 | 1,153 | 1,163 |
| Gross profit margin | -65.98% | -44.46% | -35.06% | -45.99% | -86.07% | -75.66% | -8.31% | -20.02% | 35.45% | 34.33% | -16.63% | 71.65% | 36.05% | -61.45% | -112.94% | -110.62% | -87.92% | -90.48% | -117.26% | -171.54% |
March 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $-330,921K ÷ $501,574K
= -65.98%
The gross profit margin of Marathon Digital Holdings Inc has shown significant variability over the periods analyzed. The company experienced negative gross profit margins in several quarters, indicating that its cost of goods sold exceeded its revenue from sales during those periods. This is a concerning trend as it suggests that the company may be struggling to efficiently manage its production costs or facing pricing challenges in its industry.
It is noteworthy that there were instances of positive gross profit margins, particularly in the quarters ending in March 2022 and December 2021, where the company achieved margins of 35.45% and 36.05% respectively. These positive margins indicate that the company was able to generate profits from its core operations after accounting for the direct costs of goods sold.
Overall, the fluctuating gross profit margins of Marathon Digital Holdings Inc suggest that the company may be facing challenges in effectively managing its production and operating costs, which could impact its overall financial performance and profitability. Further analysis of the factors driving these fluctuations would be necessary to assess the company's operational efficiency and competitiveness in the market.
Peer comparison
Mar 31, 2024