Reported Earnings • 4h
Second quarter 2026 earnings released: US$1.94 loss per share (vs US$0.047 loss in 2Q 2025) Second quarter 2026 results: US$1.94 loss per share (further deteriorated from US$0.047 loss in 2Q 2025). Revenue: US$44.8m (down 6.0% from 2Q 2025). Net loss: US$939.9m (loss widened US$921.5m from 2Q 2025). Revenue is forecast to grow 54% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Global Software industry. お知らせ • Jul 23
TeraWulf Inc. to Report Q2, 2026 Results on Aug 05, 2026 TeraWulf Inc. announced that they will report Q2, 2026 results Pre-Market on Aug 05, 2026 New Risk • Jul 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$1.0b Forecast net loss in 3 years: US$24m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Negative equity (-US$78m). Currently unprofitable and not forecast to become profitable over next 3 years (US$24m net loss in 3 years). Shareholders have been diluted in the past year (29% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$288m sold). Recent Insider Transactions • Jul 04
Co-Founder recently sold Mex$64m worth of stock On the 29th of June, Paul Prager sold around 138k shares on-market at roughly Mex$466 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth Mex$146m. Paul has been a net seller over the last 12 months, reducing personal holdings by Mex$369m. Breakeven Date Change • May 28
No longer forecast to breakeven The 12 analysts covering TeraWulf no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$48.3m in 2027. New consensus forecast suggests the company will make a loss of US$130.5m in 2028. お知らせ • May 27
TeraWulf Inc. (NasdaqCM:WULF) acquired Muskie Data Campus from Industrial Equity Partners. TeraWulf Inc. (NasdaqCM:WULF) acquired Muskie Data Campus from Industrial Equity Partners on May 22, 2026.
TeraWulf Inc. (NasdaqCM:WULF) completed the acquisition of Muskie Data Campus from Industrial Equity Partners on May 22, 2026. New Risk • May 27
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$1.0b Forecast net loss in 3 years: US$105m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Negative equity (-US$78m). Currently unprofitable and not forecast to become profitable over next 3 years (US$105m net loss in 3 years). Shareholders have been diluted in the past year (29% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$330m sold). Breakeven Date Change • May 11
Forecast to breakeven in 2027 The 10 analysts covering TeraWulf expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 9.5% to 2026. The company is expected to make a profit of US$116.7m in 2027. Average annual earnings growth of 112% is required to achieve expected profit on schedule. New Risk • May 11
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -US$78m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Negative equity (-US$78m). Currently unprofitable and not forecast to become profitable next year (US$515m net loss next year). Shareholders have been diluted in the past year (28% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$330m sold). お知らせ • May 01
TeraWulf Inc. to Report Q1, 2026 Results on May 08, 2026 TeraWulf Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 08, 2026 Recent Insider Transactions • Apr 30
Co-Founder recently sold Mex$78m worth of stock On the 28th of April, Paul Prager sold around 217k shares on-market at roughly Mex$361 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$171m. Paul has been a net seller over the last 12 months, reducing personal holdings by Mex$159m. お知らせ • Apr 30
TeraWulf Inc., Annual General Meeting, Jun 09, 2026 TeraWulf Inc., Annual General Meeting, Jun 09, 2026. New Risk • Apr 19
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$661m Forecast net loss in 3 years: US$161m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$161m net loss in 3 years). Shareholders have been diluted in the past year (28% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$252m sold). Breakeven Date Change • Apr 17
Forecast to breakeven in 2027 The 12 analysts covering TeraWulf expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 43% to 2026. The company is expected to make a profit of US$33.6m in 2027. Average annual earnings growth of 97% is required to achieve expected profit on schedule. お知らせ • Apr 16
TeraWulf Inc. has completed a Follow-on Equity Offering in the amount of $900.6 million. TeraWulf Inc. has completed a Follow-on Equity Offering in the amount of $900.6 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 47,400,000
Price\Range: $19
Discount Per Security: $0.475 New Risk • Apr 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$161m net loss in 3 years). Shareholders have been diluted in the past year (26% increase in shares outstanding). Significant insider selling over the past 3 months (Mex$252m sold). New Risk • Apr 08
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: Mex$252m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$161m net loss in 3 years). Significant insider selling over the past 3 months (Mex$252m sold). Recent Insider Transactions • Mar 21
Independent Director recently bought Mex$1.3m worth of stock On the 19th of March, Michael Bucella bought around 5k shares on-market at roughly Mex$278 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$10.0m more in shares than they bought in the last 12 months. New Risk • Mar 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$661m Forecast net loss in 3 years: US$161m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$161m net loss in 3 years). Recent Insider Transactions • Mar 13
Independent Director recently bought Mex$879k worth of stock On the 4th of March, Michael Bucella bought around 3k shares on-market at roughly Mex$277 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$12m more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 09
Independent Director recently bought Mex$879k worth of stock On the 4th of March, Michael Bucella bought around 3k shares on-market at roughly Mex$277 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$12m more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 06
Independent Director recently bought Mex$879k worth of stock On the 4th of March, Michael Bucella bought around 3k shares on-market at roughly Mex$277 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$12m more in shares than they bought in the last 12 months. Reported Earnings • Feb 27
Full year 2025 earnings released: US$1.66 loss per share (vs US$0.21 loss in FY 2024) Full year 2025 results: US$1.66 loss per share (further deteriorated from US$0.21 loss in FY 2024). Revenue: US$168.5m (up 20% from FY 2024). Net loss: US$661.4m (loss widened US$589.0m from FY 2024). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Global Software industry. お知らせ • Feb 06
TeraWulf Inc. to Report Q4, 2025 Results on Feb 26, 2026 TeraWulf Inc. announced that they will report Q4, 2025 results on Feb 26, 2026 お知らせ • Feb 03
TeraWulf Inc. (NasdaqCM:WULF) entered into an Purchase Agreement to acquire Morgantown Generating Station in Charles County, Maryland. TeraWulf Inc. (NasdaqCM:WULF) entered into an Purchase Agreement to acquire Morgantown Generating Station in Charles County, Maryland in late 2025.
The closing of the Morgantown acquisition is subject to certain third-party consents and customary regulatory approvals, including from the Federal Energy Regulatory Commission (FERC). Breakeven Date Change • Nov 12
No longer forecast to breakeven The 12 analysts covering TeraWulf no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$158.5m in 2027. New consensus forecast suggests the company will make a loss of US$59.8m in 2027. Reported Earnings • Nov 12
Third quarter 2025 earnings released: US$1.13 loss per share (vs US$0.06 loss in 3Q 2024) Third quarter 2025 results: US$1.13 loss per share (further deteriorated from US$0.06 loss in 3Q 2024). Revenue: US$50.6m (up 87% from 3Q 2024). Net loss: US$455.1m (loss widened US$432.0m from 3Q 2024). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Global Software industry. お知らせ • Nov 01
TeraWulf Inc. to Report Q3, 2025 Results on Nov 10, 2025 TeraWulf Inc. announced that they will report Q3, 2025 results on Nov 10, 2025 お知らせ • Oct 28
Terawulf Inc. Provides Revenue Guidance for the Third Quarter Ended September 30, 2025 TeraWulf Inc. provided revenue guidance for the third quarter ended September 30, 2025. For the period the company expects revenue for the third quarter of 2025 to be between $48 million and $52 million, representing an approximate 84% increase compared to the $27 million reported in the third quarter of 2024. Recent Insider Transactions • Sep 24
Independent Director recently sold Mex$11m worth of stock On the 19th of September, Catherine Motz sold around 53k shares on-market at roughly Mex$203 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$13m more than they bought in the last 12 months. Recent Insider Transactions • Aug 21
Independent Director recently sold Mex$743k worth of stock On the 15th of August, Amanda Fabiano sold around 5k shares on-market at roughly Mex$162 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$1.6m. Insiders have been net sellers, collectively disposing of Mex$1.9m more than they bought in the last 12 months. Board Change • Aug 13
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Independent Director Amanda Fabiano was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 10
Second quarter 2025 earnings released: US$0.047 loss per share (vs US$0.033 loss in 2Q 2024) Second quarter 2025 results: US$0.047 loss per share (further deteriorated from US$0.033 loss in 2Q 2024). Revenue: US$47.6m (up 34% from 2Q 2024). Net loss: US$18.4m (loss widened 65% from 2Q 2024). Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Breakeven Date Change • Aug 08 The 11 analysts covering TeraWulf previously expected the company to break even in 2027. New consensus forecast suggests losses will reduce by 25% per year to 2026. The company is expected to make a profit of US$21.5m in 2027. Average annual earnings growth of 118% is required to achieve expected profit on schedule.
お知らせ • Jul 24
TeraWulf Inc. to Report Q2, 2025 Results on Aug 08, 2025 TeraWulf Inc. announced that they will report Q2, 2025 results on Aug 08, 2025 お知らせ • May 28
TeraWulf Inc. (NasdaqCM:WULF) acquired Bicent (California) Power LLC for $54.6 million. TeraWulf Inc. (NasdaqCM:WULF) acquired Bicent (California) Power LLC for $54.6 million on May 27, 2025. The consideration consists of a cash consideration of $3 million and 5 million common equity of TeraWulf Inc. to be issued for interests of Bicent (California) Power LLC. The agreement also includes up to $19 million in contingent cash payments and up to $13 million in additional common stock, subject to the achievement of key milestones related to the expansion of TeraWulf’s data center business and project financing initiative. As part of the acquisition, 94 employees from Beowulf E&D – including Lake Mariner site staff and corporate support personnel – have transitioned to TeraWulf employment.
The Board of Directors of Bicent (California) Power LLC formed a special committee for the transaction.
Reed Smith LLP acted as legal advisor for TeraWulf Inc. Piper Sandler & Co. acted as fairness opinion provider for TeraWulf Inc.
TeraWulf Inc. (NasdaqCM:WULF) completed the acquisition of Bicent (California) Power LLC on May 27, 2025. New Risk • May 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$305m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$305m free cash flow). Shares are highly illiquid. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$36m net loss in 2 years). Shareholders have been diluted in the past year (15% increase in shares outstanding). Breakeven Date Change • May 12
Forecast breakeven date pushed back to 2027 The 9 analysts covering TeraWulf previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of US$144.9m in 2027. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Reported Earnings • May 10
First quarter 2025 earnings released First quarter 2025 results: Net income: (up US$9.90m from 1Q 2024). Breakeven Date Change • May 09 The 9 analysts covering TeraWulf previously expected the company to break even in 2026. New consensus forecast suggests losses will reduce by 5.9% to 2025. The company is expected to make a profit of US$34.7m in 2026. Average annual earnings growth of 122% is required to achieve expected profit on schedule.
お知らせ • Apr 28
TeraWulf Inc. to Report Q1, 2025 Results on May 09, 2025 TeraWulf Inc. announced that they will report Q1, 2025 results on May 09, 2025 Breakeven Date Change • Apr 22
Forecast breakeven date pushed back to 2026 The 9 analysts covering TeraWulf previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 58% to 2025. The company is expected to make a profit of US$71.2m in 2026. Average annual earnings growth of 109% is required to achieve expected profit on schedule. お知らせ • Mar 28
TeraWulf Inc., Annual General Meeting, May 05, 2025 TeraWulf Inc., Annual General Meeting, May 05, 2025. Reported Earnings • Mar 01
Full year 2024 earnings released: US$0.21 loss per share (vs US$0.35 loss in FY 2023) Full year 2024 results: US$0.21 loss per share (improved from US$0.35 loss in FY 2023). Revenue: US$140.1m (up 102% from FY 2023). Net loss: US$72.4m (loss narrowed 2.6% from FY 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. お知らせ • Feb 21
TeraWulf Inc. to Report Q4, 2024 Results on Feb 28, 2025 TeraWulf Inc. announced that they will report Q4, 2024 results on Feb 28, 2025 Recent Insider Transactions • Feb 01
Independent Director recently bought Mex$413k worth of stock On the 27th of January, Michael Bucella bought around 5k shares on-market at roughly Mex$86.18 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$3.7m more in shares than they bought in the last 12 months. Breakeven Date Change • Jan 24
Forecast breakeven date moved forward to 2025 The 9 analysts covering TeraWulf previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of US$62.8m in 2025. Average annual earnings growth of 49% is required to achieve expected profit on schedule. お知らせ • Nov 22
TeraWulf Inc. Announces Promotion of Sean Farrell to Chief Operating Officer TeraWulf Inc. announced that Sean Farrell has been promoted to Chief Operating Officer, effective immediately. Mr. Farrell will continue to report directly to Nazar Khan, Chief Technology Officer of TeraWulf. Mr. Farrell brings over 13 years of experience in the energy sector, specializing in renewables, grid optimization, electric delivery, digitalization, and storage solutions across various business domains. Most recently, he served as Senior Vice President of Operations at TeraWulf, where he coordinated and oversaw the Company's data center operations and vertical integration strategy.Before joining TeraWulf, Mr. Farrell was the North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc., where he led product development, sales, and market strategy for onshore wind turbines in the U.S. and Canada. He began his career in the energy industry at Siemens Energy, progressing through roles of increasing responsibility within their Power System Sales organization, focusing on generation and electric delivery across diverse verticals for over a decade. Board Change • Nov 22
High number of new directors Independent Director Amanda Fabiano was the last director to join the board, commencing their role in 2024. お知らせ • Oct 24
TeraWulf Inc. (NasdaqCM:WULF) announces an Equity Buyback for $200 million worth of its shares. TeraWulf Inc. (NasdaqCM:WULF) announces a share repurchase program. Under the program, the company will repurchase up to $200 million worth of its common shares. The Company intends to repurchase shares using excess cash, prioritizing this initiative after disciplined capital expenditures aimed at supporting organic growth in high-performance computing and evaluating strategic opportunities, such as potential site acquisitions. The program is valid through December 31, 2025. お知らせ • Oct 17
Terawulf Inc. Appoints John Larkin as Senior Vice President, Director of Investor Relations TeraWulf Inc. announced the appointment of John Larkin as Senior Vice President, Director of Investor Relations. In this role, Mr. Larkin will report to Chief Executive Officer Paul Prager. With over 25 years of experience in capital markets across buy-side and sell-side roles, Mr. Larkin brings extensive knowledge and insight to TeraWulf. Most recently, he served as Chief Operating Officer at Connacht Asset Management. Before that, he spent nearly a decade at Susquehanna International Group, where he led the Event-Driven/Special Situations Desk and served as Assistant Director of Research. Mr. Larkin began his career at Citigroup, holding a variety of key positions. お知らせ • Oct 04
TeraWulf Inc. to Report Q3, 2024 Results on Nov 12, 2024 TeraWulf Inc. announced that they will report Q3, 2024 results on Nov 12, 2024 Board Change • Sep 23
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Co-Founder, COO, CTO & Executive Director Nazar Khan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 14
Second quarter 2024 earnings released: US$0.033 loss per share (vs US$0.085 loss in 2Q 2023) Second quarter 2024 results: US$0.033 loss per share (improved from US$0.085 loss in 2Q 2023). Revenue: US$35.6m (up 130% from 2Q 2023). Net loss: US$11.2m (loss narrowed 37% from 2Q 2023). Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. お知らせ • Aug 01
TeraWulf Inc. to Report Q2, 2024 Results on Aug 12, 2024 TeraWulf Inc. announced that they will report Q2, 2024 results on Aug 12, 2024 New Risk • Jul 03
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$76m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$76m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (Mex$4.2m sold). Recent Insider Transactions • Jun 14
Chief Accounting Officer & Treasurer recently sold Mex$4.2m worth of stock On the 7th of June, Kenneth Deane sold around 70k shares on-market at roughly Mex$59.40 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Breakeven Date Change • May 15
Forecast breakeven date pushed back to 2025 The 4 analysts covering TeraWulf previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 52% to 2024. The company is expected to make a profit of US$100.3m in 2025. Average annual earnings growth of 149% is required to achieve expected profit on schedule. New Risk • May 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risk Less than 1 year of cash runway based on current free cash flow (-US$76m). Reported Earnings • May 14
First quarter 2024 earnings released: US$0.034 loss per share (vs US$0.16 loss in 1Q 2023) First quarter 2024 results: US$0.034 loss per share (improved from US$0.16 loss in 1Q 2023). Revenue: US$42.4m (up 268% from 1Q 2023). Net loss: US$9.90m (loss narrowed 63% from 1Q 2023). Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Global Software industry. お知らせ • May 01
TeraWulf Inc. to Report Q1, 2024 Results on May 13, 2024 TeraWulf Inc. announced that they will report Q1, 2024 results on May 13, 2024 Board Change • Apr 17
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Co-Founder, COO, CTO & Executive Director Nazar Khan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. お知らせ • Mar 21
TeraWulf Inc., Annual General Meeting, Apr 16, 2024 TeraWulf Inc., Annual General Meeting, Apr 16, 2024, at 11:00 US Eastern Standard Time. Agenda: To consider and approve the election of Paul Prager, Nazar Khan, Kerri Langlais, Michael Bucella, Walter Carter, Amanda Fabiano, Christopher Jarvis, Catherine Motz, Steven Pincus and Lisa Prager to the Company’s Board of Directors for one-year terms; to consider and approve the approval, on a non-binding, advisory basis, of the compensation of our named executive officers; and to consider other matters.