RIOTRiot Platforms, Inc.
Finance Services
- Revenue
- $647M
- 72% YoY
- Operating margin
- -96.1%
- 336% YoY
- EBITDA
- −$279M
- 178% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$466M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired19% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-2% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear4% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $213M | $259M | $281M | $377M | $647M | 72% |
| Operating income | −$30M | −$513M | −$63M | $154M | −$622M | 505% |
| Net income | −$15M | −$510M | −$49M | $109M | −$663M | 706% |
| Operating cash flow | −$86M | $530K | $33M | −$255M | −$573M | 125% |
| Capex | $147M | $148M | $194M | $240M | $201M | 16% |
| Stock-based comp | $68M | $25M | $32M | $125M | $126M | 0.4% |
| Buybacks | $5M | $10M | $14M | $12M | $4M | 63% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 75 | 93 |
| FY2024 | — | — | 912 | 384 |
| FY2023 | — | — | 1381 | 147 |
| FY2022 | — | — | 303 | 106 |
| FY2021 | — | — | 1994 | 135 |