Bitfarms Ltd
XTSX:BITF
Income Statement
Earnings Waterfall
Bitfarms Ltd
Revenue
|
169.5m
USD
|
Cost of Revenue
|
-58.4m
USD
|
Gross Profit
|
111.1m
USD
|
Operating Expenses
|
-43.2m
USD
|
Operating Income
|
67.9m
USD
|
Other Expenses
|
-45.8m
USD
|
Net Income
|
22.1m
USD
|
Income Statement
Bitfarms Ltd
Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||
Revenue |
24
N/A
|
39
+63%
|
45
+15%
|
50
+13%
|
58
+16%
|
43
-26%
|
44
+2%
|
63
+44%
|
83
+32%
|
121
+46%
|
169
+40%
|
|
Gross Profit | ||||||||||||
Cost of Revenue |
(21)
|
(28)
|
(29)
|
(33)
|
(44)
|
(39)
|
(40)
|
(41)
|
(39)
|
(46)
|
(58)
|
|
Gross Profit |
3
N/A
|
11
+299%
|
16
+48%
|
17
+7%
|
14
-17%
|
4
-69%
|
4
-2%
|
22
+432%
|
44
+100%
|
75
+69%
|
111
+48%
|
|
Operating Income | ||||||||||||
Operating Expenses |
(9)
|
(15)
|
(16)
|
(17)
|
(17)
|
(12)
|
(11)
|
(11)
|
(18)
|
(27)
|
(43)
|
|
Selling, General & Administrative |
(9)
|
(15)
|
(16)
|
(16)
|
(17)
|
(12)
|
(11)
|
(11)
|
(18)
|
(27)
|
(43)
|
|
Operating Income |
(7)
N/A
|
(4)
+40%
|
0
N/A
|
0
+1 208%
|
(3)
N/A
|
(7)
-115%
|
(7)
+5%
|
11
N/A
|
27
+142%
|
48
+80%
|
68
+41%
|
|
Pre-Tax Income | ||||||||||||
Interest Income Expense |
(1)
|
(2)
|
(3)
|
(4)
|
(6)
|
(6)
|
(6)
|
(6)
|
(5)
|
(4)
|
2
|
|
Non-Reccuring Items |
(19)
|
(19)
|
(0)
|
0
|
(0)
|
0
|
0
|
0
|
(15)
|
1
|
(5)
|
|
Gain/Loss on Disposition of Assets |
0
|
(0)
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
1
|
|
Total Other Income |
(1)
|
0
|
(1)
|
(0)
|
0
|
0
|
(4)
|
(27)
|
(27)
|
(25)
|
(23)
|
|
Pre-Tax Income |
(28)
N/A
|
(25)
+10%
|
(4)
+85%
|
(4)
-14%
|
(9)
-114%
|
(15)
-62%
|
(19)
-24%
|
(23)
-24%
|
(20)
+14%
|
20
N/A
|
43
+117%
|
|
Net Income | ||||||||||||
Tax Provision |
2
|
2
|
3
|
3
|
3
|
3
|
(0)
|
(1)
|
(2)
|
(13)
|
(21)
|
|
Income from Continuing Operations |
(26)
|
(24)
|
(1)
|
(2)
|
(6)
|
(12)
|
(19)
|
(24)
|
(21)
|
7
|
22
|
|
Income to Minority Interest |
10
|
10
|
2
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
(16)
N/A
|
(13)
+18%
|
1
N/A
|
(0)
N/A
|
(6)
-1 482%
|
(12)
-115%
|
(19)
-53%
|
(24)
-28%
|
(21)
+10%
|
7
N/A
|
22
+213%
|
|
EPS (Diluted) |
-0.29
N/A
|
-0.2
+31%
|
0.01
N/A
|
0
N/A
|
-0.07
N/A
|
-0.14
-100%
|
-0.22
-57%
|
-0.19
+14%
|
-0.14
+26%
|
0.04
N/A
|
0.11
+175%
|