CleanSpark, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

CleanSpark Q4 and Fiscal Year-End Earnings Summary

  • Revenue Growth: CleanSpark reported a fiscal 2021 revenue of $49.4 million, up from $10 million in 2020 — a nearly 400% increase year-over-year.
  • Quarter-over-quarter performance: Q4 2021 revenue was $27.1 million, a 1,300% increase from $1.9 million in Q4 2020.
  • Adjusted EBITDA: The company posted a non-GAAP adjusted EBITDA of $9 million ($0.31 per share) compared to a loss of $1.07/share in the prior year — a major turnaround.
  • GAAP Net Loss: GAAP net loss improved from $23.3 million in 2020 to $21.8 million in 2021. Loss per share improved from $2.44 to $0.74.
  • Bitcoin Mining Operations:
    • Current hash rate: ~1.3 exahash.
    • YTD Bitcoin production (as of Nov 30): 1,083 BTC.
    • Operating machines: Over 40 megawatts worth installed.
    • College Park, GA facility includes 48 mobile data centers ready to go live imminently.
    • Upcoming immersion cooling installation at Norcross facility (20MW).
  • Balance Sheet (as of Year-End):
    • Cash: $18 million.
    • Bitcoin book value: $23.6 million, fair market value: $27.5 million.
    • Working capital: $47.6 million.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon, and welcome to the CleanSpark Year-End and Q4 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Rachel Silverstein, VP of Compliance and General Counsel. Please go ahead. Rachel Silverstein : Welcome everyone. On behalf CleanSpark, Inc., I welcome you to our fourth fiscal quarter and year-end financial results conference call. My name is Rachel Silverstein, I’m CleanSpark ‘s VP of Compliance and General Counsel. With us today with prepared remarks are CleanSpark’s Chief Executive Officer, Zach Bradford; and Matt Schultz, our Executive Chairman. Before beginning, I would like to remind everyone that with the exception of historical information, the matters discussed in this presentation are forward-looking statements as defined by federal securities laws. Investors are cautioned that these forward-looking statements involve a number of risks and uncertainties. Forward-looking statements may include words such as anticipate, could, estimate, intend, expect, believe, potential, will, should, project, and similar expressions. Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports filed with the Securities and Exchange Commission. Today, December 14, 2021, the Company will be filing

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional