Riot Platforms, Inc. (RIOT)
NASDAQ:RIOT
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Earnings Data
Report Date
Jul 30, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.2Last Year’s EPS
0.57Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and commercial progress narrative: a material tenant expansion with AMD, tangible delivery of first operating lease capacity, aggressive scaling at Corsicana with improved capital efficiency, robust mining operations and a sizable Bitcoin treasury providing non-dilutive funding. The principal negatives were large reported GAAP and adjusted EBITDA losses driven primarily by non-cash mark-to-market Bitcoin adjustments and early-stage data center revenue composition skewed toward low-margin fit-out services. Because most low points are driven by accounting volatility and the data center business is demonstrably progressing from development to recurring high-margin leases, the positives—large contracted capacity, improved CapEx metrics, a deep power portfolio, vertical engineering integration, and a significant BTC treasury—outweigh the near-term reported losses and early-stage revenue mix.Company Guidance
AMD Lease Expansion and Delivery Progress
AMD exercised an additional 25 MW expansion at Rockdale, bringing its contracted footprint to 50 MW. Riot delivered the first 5 MW in January and expects the remaining 20 MW to be delivered in May 2026. The expansion's total contract value (TCV) for the additional 25 MW is embedded in a primary 10-year period with total revenue cited as $636 million and an average annual NOI of $51 million over that period.
Improved Development Economics on AMD Expansion
CapEx for the expansion is approximately $3.3 million per MW (total ≈ $83.2M), down from $3.6M per MW on the initial 25 MW — roughly an 8.3% reduction in CapEx per MW due to leveraging prior building preparation. Management expects exit 2026 annualized operating lease revenue run rate of $37.8M, scaling to $55.6M by the end of 2027 as AMD reaches full 50 MW footprint.
Corsicana Scaling and Capital Efficiency
Core-and-shell design at Corsicana was consolidated into a single 168 MW critical IT building (up from prior 112 MW across two buildings) — a 50% increase in core-and-shell capacity for unchanged core-and-shell CapEx, improving capital efficiency. The full Corsicana campus planned capacity increased to 756 MW on the same approved power and timeline.
First Quarter Data Center Revenue and High-Margin Lease Start
Riot's data center segment generated $33.2M in Q1 2026 revenue, including $32.2M in tenant fit-out services and $0.9M of recurring operating lease revenue (initial 5 MW to AMD). The operating lease component achieved a 91% gross margin in the quarter, with management targeting an 80%+ run-rate margin as operations scale.
Bitcoin Treasury and Non-Dilutive Funding
The company ended the quarter holding 15,679 BTC valued at approximately $1.1B and funded initial data center CapEx through operating cash flow and disciplined Bitcoin sales without issuing common equity during the quarter, preserving equity dilution optionality.
Strong Bitcoin Mining Operational Metrics and Cost Improvement
Riot produced 1,473 BTC in Q1 2026 and operated a deployed hash rate of 42.5 EH. Power curtailment credits totaled $21M, lowering the net cost of power to $0.03/kWh and reducing direct cost to mine Bitcoin to $44,629 per BTC — a 26% reduction versus 2025.
Vertical Integration & Engineering Strength
Engineering backlog was $193.4M (≈90% data center-driven). Ownership of ESS Metron/E4A Solutions yielded approximately $24M cumulative CapEx savings since acquisition and reduces supply-chain risk for long-lead components. Management plans to increase ESS Metron engineering capacity by ~25% in 2026 to support internal development.
RIOT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RIOT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $17.24 | $18.50 | +7.31% |
Mar 02, 2026 | $16.43 | $15.29 | -6.94% |
Oct 30, 2025 | $21.09 | $19.78 | -6.21% |
Jul 31, 2025 | $13.41 | $11.03 | -17.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Riot Platforms, Inc. (RIOT) report earnings?
Riot Platforms, Inc. (RIOT) is schdueled to report earning on Jul 30, 2026, TBA (Confirmed).
What is Riot Platforms, Inc. (RIOT) earnings time?
Riot Platforms, Inc. (RIOT) earnings time is at Jul 30, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RIOT EPS forecast?
RIOT EPS forecast for the fiscal quarter 2026 (Q2) is -0.2.
