WULFTERAWULF INC.
Finance Services
- Revenue
- $152M
- 8.2% YoY
- Operating margin
- -122.9%
- 126% YoY
- EBITDA
- −$98M
- 495% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $485M 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 SBCFired34% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-29% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear1% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | $15M | $69M | $140M | $152M | 8.2% |
| Operating income | — | −$44M | −$29M | −$76M | −$186M | 144% |
| Net income | −$96M | −$91M | −$73M | −$72M | −$661M | 813% |
| Operating cash flow | — | −$34M | $4M | −$24M | −$123M | 404% |
| Capex | — | $61M | $75M | $268M | $1.1B | 296% |
| Stock-based comp | — | $2M | $6M | $31M | $51M | 65% |
| Buybacks | — | $0 | $0 | $118M | $33M | 72% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $140K · 5
- Open-market sells, 12 mo
- $998K · 1
- Net
- −$858K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $39M | $60M | 115 | — |
| FY2024 | — | — | 57 | — |
| FY2023 | — | — | 24 | — |
| FY2022 | — | — | 7 | — |
| FY2021 | — | — | 151 | — |