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Our Company We are a leading owner and operator of next-generation data centers powered by 100% renewable energy (whether from clean or renewable energy sources or through the purchase of renewable energy certificates ( RECs )). Our data centers are purpose-built for power dense computing applications and today support a combination of GPUs for HPC and AI services and ASICs for Bitcoin mining.
$65.48
$1.12 (-1.68%)
Price from 2 days ago
Operating margin is thin at 3.46%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 167.7% YoY with margins expanding 18.0pp.
At 152x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Negative free cash flow of -$328M. The business is consuming cash, not generating it.
152.3x earnings. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$757M
▲ +167.7% YoY
Net Income (TTM)
$158M
▲ +400.6% YoY
Op. Margin
-53.95%
▲ +18.0pp YoY
ROIC
-6.58%
▲ +3.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1.46B
▼ -265.4% YoY
Op. Cash Flow (TTM)
$392M
▲ +370.9% YoY
Net Debt
$1.75B
Cash & Equiv.
$2.21B
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