Short answer
MARA Holdings, Inc. (MARA) filed its Q3 2025 10-Q quarterly report on Nov 4, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $17M (down 1.5% year over year) with net income of $123M.
Q3 2025 key financials · XBRL
- Revenue
- $17M
- −1.5% YoY · +10.2% QoQ
- Net income
- $123M
- +198.7% YoY · −84.8% QoQ
- Operating margin
- 283.4%
- EPS (diluted)
- $0.26
- +157.8% YoY · −88.1% QoQ
Source: XBRL data from the MARA Holdings, Inc. (MARA) Q3 2025 10-Q on SEC EDGAR. USD.
MARA Holdings, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- No profitability or margin figures disclosed in this MD&A excerpt
- No cash position or capital deployment changes discussed
- Management notes July 2025 tax reform (OBBBA) not materially impacting effective tax rate for Q3 or full 2025
Risk Factors
- New risk: increased regulatory and tax burdens on energy use and property from federal, state, local authorities potentially raising costs for bitcoin mining
- Updated risk: bitcoin lending exposure expanded to 10,377 bitcoin loaned, unsecured loans risk higher default losses due to market volatility
- Legal/compliance risk: potential new municipal restrictions and taxes on Granbury, Texas mining facility from proposed land incorporation impacting operations
- Operational/market risk: third-party managed account holding 1,903 bitcoin exposes to market losses, lack of control, counterparty failure, cybersecurity threats
- Financial risk: unsecured bitcoin loans risk nonrepayment and losses that could materially affect financial condition due to subordinate loan ranking
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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