Mawson Infrastructure Group, Inc. Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue Growth: Q3 revenue rose to $28.3M, a 43% increase from $19.8M in Q2 and a 160% increase year-over-year.
  • EBITDA: Non-GAAP EBITDA grew to $8.8M, representing a 203% year-over-year increase.
  • Gross Profit: Increased 87% from $5.4M in Q2 to $10.1M in Q3.
  • Bitcoin Production: Self-mined 282 BTC in Q3, up 12% compared to the prior quarter.
  • Hosting Revenue: Hosting colocation revenue rose 58% from Q2 ($3.6M) to Q3 ($5.7M).
  • Energy Market Revenue: Increased dramatically to $6.3M from $0.5M in Q2 (1,160% increase).
  • Cost Discipline: SG&A expenses reduced by 47%, from $9.4M in Q2 to $5.0M in Q3.
  • Balance Sheet: Net assets stood at $92.8M. Post-Q3, $20.6M in cash has been received from the sale of the Georgia facility (not reflected in Q3 numbers).
  • Debt Reduction: Trade and other payables reduced by $19.5M. Additional debt repayments occurred post-Q3 from asset sale proceeds.
  • Energy Market Advantage: Participation in energy curtailment is margin-accretive and has sustainability benefits (24,000 tons of CO2 avoided YTD).

Strategic Initiatives

Continue Reading

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

Upgrade to Professional
Operator: Good day and welcome to the Mawson Infrastructure Group Inc. Third Quarter 2022 Earnings Call. [Operator Instructions] I’d like to turn the call over to Mr. Nick Hughes-Jones. Please go ahead, sir. Nick Hughes-Jones: Hello, everyone and thank you for taking the time to hear about Mawson Infrastructure Group’s third quarter 2022 financial results. My name is Nick Hughes-Jones, Chief Commercial Officer at Mawson. Joining me today is James Manning, our Chief Executive Officer; Liam Wilson, our Chief Operating Officer; and our Principal Accounting Officer, Ariel Sivikofsky. We look forward to taking you through the investor presentation today. But first, I need to read you a short disclaimer around forward-looking statements. Please be aware today, we will be making forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks that could cause actual results to differ materially from those expected. We may also make forward-looking statements as part of our Q&A at the conclusion of this presentation. Please be sure to refer to the cautionary text regarding forward-looking statements contained in this presentation on Slide 2 as well as the risk factors in our Annual Report and Form 10-K filed March 21, 2022 under the subheading risks relating to our business as well as the 10-Q filed today, Monday, the November 14. With that, I will hand it across to our CEO, James Manning. James Manning: Thanks Nick. Since our Fr

Continue Reading

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

Upgrade to Professional