$WULF
TERAWULF INC.

2023 Q2 Form 10-Q Financial Statement

#000155837023009915 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $15.46M $11.53M
YoY Change 1015.96% 5214.75%
Cost Of Revenue $5.113M $5.002M
YoY Change 765.14% 15531.25%
Gross Profit $10.34M $6.531M
YoY Change 1202.64% 3430.27%
Gross Profit Margin 66.92% 56.63%
Selling, General & Admin $5.878M $6.492M
YoY Change 35.63% 8.47%
% of Gross Profit 56.83% 99.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.428M $5.433M
YoY Change 3114.0% 135725.0%
% of Gross Profit 62.15% 83.19%
Operating Expenses $16.19M $15.75M
YoY Change 88.01% 68.43%
Operating Profit -$5.845M -$9.221M
YoY Change -25.22% 0.59%
Interest Expense $8.450M $6.834M
YoY Change 104.16% 28.41%
% of Operating Profit
Other Income/Expense, Net $54.00K
YoY Change
Pretax Income -$14.24M -$16.06M
YoY Change 19.12% 10.81%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$17.54M -$26.26M
YoY Change 28.32% 44.4%
Net Earnings / Revenue -113.48% -227.67%
Basic Earnings Per Share -$0.08 -$0.16
Diluted Earnings Per Share -$0.08 -$0.16
COMMON SHARES
Basic Shares Outstanding 212.0M 186.3M
Diluted Shares Outstanding 210.4M 165.0M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.241M $16.99M
YoY Change 794.79% 373.78%
Cash & Equivalents $8.241M $16.99M
Short-Term Investments
Other Short-Term Assets $1.938M $739.0K
YoY Change 334.53% 67.19%
Inventory
Prepaid Expenses $3.472M $4.378M
Receivables
Other Receivables
Total Short-Term Assets $14.36M $22.22M
YoY Change -33.44% -14.4%
LONG-TERM ASSETS
Property, Plant & Equipment $161.8M $159.4M
YoY Change 4.98% 30.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $111.4M $122.0M
YoY Change -20.44% -0.82%
Other Assets $798.0K $1.417M
YoY Change -66.9% 48.07%
Total Long-Term Assets $285.5M $294.6M
YoY Change -4.07% 19.31%
TOTAL ASSETS
Total Short-Term Assets $14.36M $22.22M
Total Long-Term Assets $285.5M $294.6M
Total Assets $299.8M $316.8M
YoY Change -6.05% 16.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.30M $18.97M
YoY Change 29.06% 95.55%
Accrued Expenses $8.023M $9.891M
YoY Change -17.97% -25.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $36.53M $0.00
YoY Change 136.65%
Total Short-Term Liabilities $81.68M $56.12M
YoY Change -16.24% 6.0%
LONG-TERM LIABILITIES
Long-Term Debt $82.40M $113.4M
YoY Change -3.51% 16.13%
Other Long-Term Liabilities $924.0K $936.0K
YoY Change -2.43% -3.41%
Total Long-Term Liabilities $82.40M $113.4M
YoY Change -3.51% 16.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.68M $56.12M
Total Long-Term Liabilities $82.40M $113.4M
Total Liabilities $165.0M $170.5M
YoY Change -10.38% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings -$230.3M -$212.7M
YoY Change 80.2% 86.72%
Common Stock $216.0K $186.0K
YoY Change 105.71% 84.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.8M $146.3M
YoY Change
Total Liabilities & Shareholders Equity $299.8M $316.8M
YoY Change -6.05% 16.11%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$17.54M -$26.26M
YoY Change 28.32% 44.4%
Depreciation, Depletion And Amortization $6.428M $5.433M
YoY Change 3114.0% 135725.0%
Cash From Operating Activities -$297.0K -$8.713M
YoY Change -96.4% -59.47%
INVESTING ACTIVITIES
Capital Expenditures $6.004M $9.986M
YoY Change -133.83% -53.53%
Acquisitions
YoY Change
Other Investing Activities -$6.259M -$6.184M
YoY Change -63.98% -67.58%
Cash From Investing Activities -$12.26M -$16.17M
YoY Change -65.09% -60.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.815M 33.55M
YoY Change -90.63% 74.72%
NET CHANGE
Cash From Operating Activities -297.0K -8.713M
Cash From Investing Activities -12.26M -16.17M
Cash From Financing Activities 3.815M 33.55M
Net Change In Cash -8.745M 8.663M
YoY Change 228.27% -120.21%
FREE CASH FLOW
Cash From Operating Activities -$297.0K -$8.713M
Capital Expenditures $6.004M $9.986M
Free Cash Flow -$6.301M -$18.70M
YoY Change -166.38% -56.5%

Facts In Submission

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4300000
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
40764706
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
26600000
CY2023Q1 wulf Stock Issued During Period Number Warrants Exercised
StockIssuedDuringPeriodNumberWarrantsExercised
342326
CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
3000
CY2022Q1 wulf Stock Issued During Period Number Warrants Exercised
StockIssuedDuringPeriodNumberWarrantsExercised
0
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
876000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
876000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2021Q4 wulf Cryptocurrency Load Deployment Threshold For Share Based Compensation
CryptocurrencyLoadDeploymentThresholdForShareBasedCompensation
100
CY2021Q4 wulf Cryptocurrency Load Deployment Threshold For Share Based Compensation
CryptocurrencyLoadDeploymentThresholdForShareBasedCompensation
100
CY2023Q1 wulf Related Party Payment In Balance Sheet
RelatedPartyPaymentInBalanceSheet
14900000
CY2022Q4 wulf Related Party Payment In Balance Sheet
RelatedPartyPaymentInBalanceSheet
14600000

Files In Submission

Name View Source Status
wulf-20230331_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
wulf-20230331x10q_htm.xml Edgar Link completed
0001558370-23-009915-index-headers.html Edgar Link pending
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0001558370-23-009915.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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wulf-20230331.xsd Edgar Link pending
wulf-20230331x10q.htm Edgar Link pending
wulf-20230331xex31d1.htm Edgar Link pending
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wulf-20230331_def.xml Edgar Link unprocessable
wulf-20230331_lab.xml Edgar Link unprocessable
wulf-20230331_pre.xml Edgar Link unprocessable