Executive Summary
HIVE Blockchain Technologies reported QQ4 2024 results with USD-denominated revenue of $33.892 million and a gross loss of $3.998 million, resulting in an operating loss of $6.168 million but an EBITDA of $15.035 million driven by other income. Net income stood at a loss of $3.454 million for the quarter, with basic and diluted earnings per share of -0.039 and -0.0339 respectively. The company generated negative cash from operating activities (-$22.8 million) and invested heavily in capital expenditure (-$15.01 million), while financing activities contributed a net inflow of $25.21 million primarily due to common stock issuances. End-of-quarter liquidity remained modest at $9.67 million in cash, but the balance sheet shows substantial liquidity through $178.1 million in cash and short-term investments and a large crypto/commodity inventory balance of $161.6 million, which underscores HIVE’s asset-light, crypto-currency holdings-driven model. Net debt stood at approximately $(20.9) million, reflecting the mix of cash, crypto assets, and modest leverage. The QQ4 quarter underscores the sensitivity of performance to crypto price cycles, energy costs, and capital-raising ability, even as the company maintains EBITDA profitability largely via non-operating items. Management commentary (where available) would be expected to emphasize liquidity management, inventory monetization strategies, and any guidance on capacity deployment or energy optimization going forward.
Key Performance Indicators
QoQ: -1 383.84% | YoY:53.39%
QoQ: 51.13% | YoY:-149.00%
Key Insights
Revenue: USD 33.892 million for QQ4 2024 (YoY +85.98%, QoQ -8.57%). Gross Profit: USD -3.998 million with a gross margin of -0.1003 (YoY improvement but still negative; QoQ deterioration appears steep per reported margin). Operating Income: USD -6.168 million, margin -18.20% (YoY: -7.40%, QoQ: +23.73%). EBITDA: USD 15.035 million, margin 44.36% (EBITDA-driven profitability despite negative gross profit). Net Income: USD -3.454 million, net margin -10.19% (YoY: +50.69%, QoQ: +50.31%). EPS: -0.039...
Financial Highlights
Revenue: USD 33.892 million for QQ4 2024 (YoY +85.98%, QoQ -8.57%). Gross Profit: USD -3.998 million with a gross margin of -0.1003 (YoY improvement but still negative; QoQ deterioration appears steep per reported margin). Operating Income: USD -6.168 million, margin -18.20% (YoY: -7.40%, QoQ: +23.73%). EBITDA: USD 15.035 million, margin 44.36% (EBITDA-driven profitability despite negative gross profit). Net Income: USD -3.454 million, net margin -10.19% (YoY: +50.69%, QoQ: +50.31%). EPS: -0.0391 (diluted -0.0339). Weighted average shares: 88.408 million (non-diluted). Balance-sheet highlights: total assets USD 307.265 million; cash and short-term investments USD 178.113 million; inventory USD 161.645 million; total current assets USD 185.035 million; PPE net USD 119.638 million. Liabilities: total current liabilities USD 27.324 million; long-term debt USD 18.123 million; total debt USD 30.571 million; stockholders’ equity USD 259.424 million; net debt (cash net of debt) approximately USD (20.903) million. Liquidity ratios: current ratio 6.77; quick ratio 0.856; cash ratio 0.354. Cash flow: operating cash flow USD -22.80 million; capital expenditures USD -15.01 million; free cash flow USD -37.81 million. Financing: net cash provided by financing activities USD 25.21 million; net change in cash USD -8.06 million; ending cash USD 9.67 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
33.89M |
85.98% |
-8.57% |
| Gross Profit |
-3.40M |
53.39% |
-1 383.84% |
| Operating Income |
-6.17M |
-7.40% |
23.73% |
| Net Income |
-3.45M |
50.69% |
50.31% |
| EPS |
-0.04 |
-149.00% |
51.13% |
Key Financial Ratios
operatingProfitMargin
-16.8%
operatingCashFlowPerShare
$-0.26
freeCashFlowPerShare
$-0.43
priceEarningsRatio
-21.49
Management Commentary
No earnings call transcript was provided in the data. As a result, there are no management quotes or themes to extract for QQ4 2024. If a transcript becomes available, a themes-based synthesis (strategy, operations, market conditions) with direct quotes and context can be added to enhance the qualitative view.
Forward Guidance
No explicit forward guidance was disclosed in the provided data. Given the cryptocurrency mining business model, near-term guidance would typically hinge on (i) crypto price trajectories for mined assets, (ii) energy costs and facility utilization efficiency, (iii) capitalization plans or debt/equity financing options, and (iv) monetization strategy for held inventory. Absent formal guidance, investors should monitor: (a) crypto market price movements for Ethereum, Ethereum Classic, and Bitcoin; (b) any cadence of capex, capacity additions or divestitures; (c) changes in funding strategy (equity raises, debt facilities); and (d) regulatory developments affecting mining operations and asset liquidity.