Cash Flow Statement
Growth Metrics

Terawulf (WULF) Operating Income (2016 - 2026)

Terawulf's Operating Income history spans 16 years, with the latest figure at -$86.3 million for Q4 2025.

  • On a quarterly basis, Operating Income fell 67.87% to -$86.3 million in Q4 2025 year-over-year; TTM through Dec 2025 was -$186.2 million, a 144.32% decrease, with the full-year FY2025 number at -$186.2 million, down 144.32% from a year prior.
  • Operating Income hit -$86.3 million in Q4 2025 for Terawulf, down from -$24.7 million in the prior quarter.
  • Over the last five years, Operating Income for WULF hit a ceiling of -$644093.0 in Q2 2021 and a floor of -$86.3 million in Q4 2025.
  • Historically, Operating Income has averaged -$19.3 million across 5 years, with a median of -$9.5 million in 2023.
  • Biggest five-year swings in Operating Income: tumbled 14662.6% in 2021 and later surged 74.88% in 2024.
  • Tracing WULF's Operating Income over 5 years: stood at -$41.7 million in 2021, then soared by 67.91% to -$13.4 million in 2022, then soared by 65.15% to -$4.7 million in 2023, then tumbled by 1002.1% to -$51.4 million in 2024, then tumbled by 67.87% to -$86.3 million in 2025.
  • Business Quant data shows Operating Income for WULF at -$86.3 million in Q4 2025, -$24.7 million in Q3 2025, and -$15.6 million in Q2 2025.