Sphere 3D Q2 revenue falls 36%
Overview
Sphere 3D Q2 FY2025 revenue falls yr/yr due to weaker post-halving economics
Net income for Q2 FY2025 reaches $1.7 mln, supported by reduced operating expenses
Company is upgrading mining equipment to improve future performance
Outlook
Company committed to scaling with discipline amid Bitcoin adoption growth
Result Drivers
OPERATING EXPENSES - Sphere 3D reduced operating expenses by 46% in Q2 FY2025, reaching the lowest level since early 2022
EQUIPMENT UPGRADE - Transition to newer generation mining equipment underway, impacting Bitcoin production
POST-HALVING ECONOMICS - Weaker post-halving economics contributed to a decline in revenue and Bitcoin production
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $3 mln |
|
Q2 Net Income |
| $1.70 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for Sphere 3D Corp is $3.00, about 82.3% above its August 4 closing price of $0.53
Press Release: ID:nNFC9CZHrv
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