Short answer
TERAWULF INC. (WULF) filed its Q1 2026 10-Q quarterly report on May 8, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $34M (down 1.1% year over year) with net income of −$428M.
Q1 2026 key financials · XBRL
- Revenue
- $34M
- −1.1% YoY
- Net income
- −$428M
- −596.3% YoY
- Operating margin
- -476.7%
- Gross margin
- 60.1%
- EPS (diluted)
- −$1.01
- −531.3% YoY
Source: XBRL data from the TERAWULF INC. (WULF) Q1 2026 10-Q on SEC EDGAR. USD.
TERAWULF INC. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- HPC leasing revenue $21.0M vs $0 YoY, including $17.6M rent and $2.4M maintenance
- Best-performing line HPC leasing, $21.0M revenue; bitcoin mined 168 vs 372 YoY
- Bitcoin mining cost $(381) per bitcoin vs $66,156 YoY; cost ratio (0.5)% vs 71.4%
- Cash, equivalents, and restricted cash approximately $3.1B as of March 31, 2026
- Outlook: continued shift toward HPC leasing; construction, power access, customer deployments, and financing remain headwinds
Risk Factors
- No material risk-factor changes from the December 31, 2025 Form 10-K
- New $250.0 million revolving facility secured by substantially all Company assets
- Liquidity covenant under the Revolving Credit Facility creates compliance risk
- Revolving facility maturity May 7, 2030, subject to a 91-day springing maturity
- Interest-rate exposure to Term SOFR plus margins up to 1.75% before the First Commencement Date
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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