HIVE Digital Technologies Ltd. Q4 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

HIVE Digital Technologies Fiscal Q4 & Full Year 2026 Earnings Summary (Ended March 31, 2026)

Financial Performance

  • Full Year 2026 Revenue: ~$300 million (global). Gross operating margin exceeded $100 million (4x growth vs. $25 million in FY2025). Net operating income ~$76 million (9x growth vs. $8.5 million in FY2025). Adjusted EBITDA $73 million. Net loss ~$148 million (driven by aggressive 2-year ASIC / 3-year GPU depreciation and non-cash items). ROIC 13.3%. Bitcoin treasury: 150 BTC.
  • Q4 2026 Revenue: $71.8 million (up 130% YoY from $31.2 million in Q4 FY2025; down from $93.1 million in Q3 FY2026). Gross operating margin $17.5 million (up 99% YoY from $8.8 million in Q4 FY2025; down from $32.1 million in Q3). HPC/AI revenue $4.6 million (~6-7% of total, trending higher).
  • Q4 Profitability: Adjusted EBITDA loss of $9 million (improved from $30.7 million loss in Q4 FY2025; vs. +$5.7 million in Q3 FY2026). Net loss $76.3 million (vs. $72.9 million / $52.9 million in prior year periods). Positive gross operating margin maintained despite volatility.
  • Bitcoin Mining (Q4): 876 BTC produced. Installed hash rate 25 EH/s (optimized to 24.6 EH/s at 16 J/TH efficiency). No dedicated CapEx allocated to Bitcoin operations.

Operational & Strategic Highlights

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Nathan Fast: Hello, and welcome to today's webcast covering HIVE Digital Technologies financial results for fiscal Q4 and full year 2026. My name is Nathan Fast, Director of Marketing and Branding at HIVE and I'll be your moderator for today's call. Before we get started on Slide 2, I would like to briefly note the disclosures for today's presentation. Except for statements of historical fact, this presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, such as expects, believes and similar expressions identify these statements. Actual results could differ materially, and we disclaim any obligation to update them except as required by law. For a full discussion of risk factors, please refer to our most recent SEC filings at sec.gov. In addition to discussing results that are calculated in accordance with GAAP, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and free cash flow. Management uses these metrics to evaluate operating performance and believes they provide investors with additional insight and they're presented for supplemental purposes only and should not be considered in isolation from GAAP results. Reconciliations to the nearest GAAP measures are included in the appendix to this presentation and in the press release and Form 8-K furnished to the SEC. On the next slide, I'm pleased to introduce today's presenters. Frank Holmes, Execut

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