Sphere 3D | 8-K: FY2025 Q3 Revenue: USD 2.623 M

Revenue: As of FY2025 Q3, the actual value is USD 2.623 M.

EPS: As of FY2025 Q3, the actual value is USD -0.15.

EBIT: As of FY2025 Q3, the actual value is USD -4.035 M.

Segment Revenue

• Bitcoin Mining Revenue: $2.6 million for Q3 2025, compared to $2.4 million for Q3 2024.

Operational Metrics

• Net Income (Loss): Net loss of - $4.2 million for Q3 2025, compared to a net income of $0.1 million for Q3 2024.
• Cost of Revenue: $2.0 million for Q3 2025, compared to $2.7 million for Q3 2024.
• Operating Profit (Loss): Loss from operations was - $4.0 million for Q3 2025, compared to - $5.2 million for Q3 2024.
• Operating Costs: Total operating costs and expenses were $6.7 million for Q3 2025, compared to $7.5 million for Q3 2024.

Unique Metrics

• Bitcoin Production: 23.0 Bitcoin mined in Q3 2025, compared to 38.7 Bitcoin in Q3 2024.
• General and Administrative Expenses: Reduced by approximately 40% to $1.8 million for Q3 2025, compared to $3.0 million for Q3 2024.

Outlook / Guidance

• Sphere 3D plans to increase its deployed EH/s by approximately 25% during Q4 2025 through the purchase of additional S21 Pro and S21 XP miners.
• The company is focused on managing costs, optimizing operations, and positioning itself to benefit from Bitcoin’s continued adoption.