CleanSpark Stock Falls 3% as FY25 Earnings and Sales Miss Estimates

CleanSpark, Inc. CLSK shares fell 3.4% during Tuesday’s extended trading session after the company reported lower-than-expected fiscal 2025 results. In fiscal 2025, CLSK reported earnings of $1.12 per share, which fell short of the Zacks Consensus Estimate of $1.45. However, the bottom line registered a robust improvement from the fiscal 2024 loss of 69 cents.

The strong year-over-year improvement was mainly driven by robust growth in revenues. CleanSpark’s fiscal 2025 revenues soared 102.2% year over year to $766.3 million. However, the top line missed the consensus mark of $783.9 million.

The year-over-year growth in revenues was driven by increased Bitcoin production and higher Bitcoin prices. In fiscal 2025, the company produced 7,873 Bitcoin, a 10.9% increase year over year. Average Revenue Per Bitcoin was approximately $98,000, which increased 55% year over year. Cost per Bitcoin in the fiscal 2025 was $42,956, a more than 100% increase from fiscal 2024’s $21,400.

CleanSpark’s FY25 Operating Details

CleanSpark’s fiscal 2025 gross profit increased 98% year over year to $423.2 million, driven by higher Bitcoin production and increased prices. However, the gross margin contracted 100 basis points to 55%.

In fiscal 2025, operating income was $318 million against fiscal 2024’s loss of $149 million. Operating margin for fiscal 2025 was 41.6%.

In fiscal 2025, adjusted EBITDA increased to $823.4 million from $245.8 million in fiscal 2024. The adjusted EBITDA margin improved to 107.5% from 63.5% in fiscal 2024.

CleanSpark’s Balance Sheet Details

As of Sept. 30, 2025, CleanSpark had cash and cash equivalents of $43 million compared with $34.5 million as of June 30, 2025.

As of Sept. 30, 2025, CLSK’s total long-term debt, net of debt discount & issuance costs, was $644.6 million.

CLSK’s Zacks Rank and Stocks to Consider

Currently, CleanSpark carries a Zacks Rank #3 (Hold).

Cirrus Logic CRUS, FormFactor FORM and Marvell Technology MRVL are some better-ranked stocks that investors can consider from the broader Zacks Computer and Technology sector. Cirrus Logic, FormFactor and Marvell Technology each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for Cirrus Logic’s fiscal 2026 earnings has been revised upward by 6.6% to $7.58 per share over the past 30 days and suggests a year-over-year increase of 0.5%. Cirrus Logic shares have jumped 27.8% year to date.

The Zacks Consensus Estimate for FormFactor’s 2025 earnings has moved upward by 2 cents to $1.17 per share in the past seven days, indicating a 1.7% year-over-year increase. FormFactor shares have soared 20.9% year to date.

The Zacks Consensus Estimate for Marvell Technology’s fiscal 2026 earnings has been revised upward by 3 cents to $2.83 per share over the past 30 days, suggesting a year-over-year increase of 80.3%. Marvell Technology shares have plunged 24.9% year to date.

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This article originally published on Zacks Investment Research (zacks.com).

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