Sphere 3D Q2 revenue falls 36%

Darkhorse Technologies

05/08/2025 21:37

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

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)