What is BTCS's operating income?

BTCS's total operating income in 2025 was -$29.89 million, based on the following breakdown: Total Gross Profit: $2.01 million Total Operating Expenses: $31.90 million

BTCS (BTCS) Financials

$1.35 0.00 (0.00%)

Closing price 08/28/2026 04:00 PM Eastern

Extended Trading

$1.38 +0.02 (+1.85%)

As of 09:11 AM Eastern

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Annual Income Statements for BTCS

This table shows BTCS's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-10	-83	-45	-0.83	-1.74	-2.56	-21	-16	7.82	-1.27	-33
Consolidated Net Income / (Loss)	-10	-44	-45	-0.83	-1.64	-2.56	-16	-16	7.82	-1.27	-33
Net Income / (Loss) Continuing Operations	-10	-83	-86	-0.83	-1.64	-2.56	-16	-16	7.82	-1.27	-33
Total Pre-Tax Income	-10	-40	-42	-0.83	-1.64	-2.56	-16	-16	7.82	-1.27	-33
Total Operating Income	-8.20	-1.46	-1.57	-0.99	-1.43	-1.99	-18	-17	-4.32	-1.25	-30
Total Gross Profit	0.22	0.09	0.00	0.00	0.00	0.00	0.94	1.27	0.98	0.95	2.01
Total Revenue	0.51	0.36	0.00	0.00	0.00	0.00	1.21	1.69	1.34	4.07	16
Operating Revenue	0.50	0.36	0.00	-	-	0.00	1.21	1.69	1.34	4.07	16
Total Cost of Revenue	0.29	0.26	0.00	0.00	0.00	0.00	0.27	0.43	0.36	3.13	14
Operating Cost of Revenue	0.29	0.26	0.00	-	-	0.00	0.27	0.43	0.36	3.13	14
Total Operating Expenses	8.41	1.56	1.57	0.99	1.43	1.99	19	19	5.30	2.19	32
Selling, General & Admin Expense	8.10	1.31	1.56	0.99	1.42	0.42	1.59	1.92	1.45	1.67	3.22
Marketing Expense	0.01	0.01	0.01	0.00	0.01	0.01	0.18	0.08	0.01	0.08	0.60
Research & Development Expense	-	-	-	-	0.00	0.05	0.71	0.61	0.69	0.76	0.68
Other Operating Expenses / (Income)	0.00	-0.01	-	-	-	1.51	13	2.81	3.15	-0.32	27
Total Other Income / (Expense), net	-1.85	-38	-41	0.16	-0.21	-0.57	1.86	1.60	12	-0.03	-3.46
Interest Expense	0.01	-0.83	-16	0.00	0.09	0.40	2.05	-	-	0.00	3.53
Other Income / (Expense), net	-1.84	-41	-57	0.16	-0.12	-0.17	3.92	1.60	12	-0.03	0.07
Basic Earnings per Share	-	($4.89)	($0.37)	($0.07)	($0.11)	($0.86)	($3.09)	($1.25)	$0.55	($0.08)	($1.00)
Weighted Average Basic Shares Outstanding	2.78M	9.06M	123.55M	12.39M	15.89M	2.98M	6.84M	12.73M	14.09M	16.26M	33.19M
Diluted Earnings per Share	-	($4.89)	($0.37)	($0.07)	($0.11)	($0.86)	-	($1.25)	$0.45	($0.08)	($1.00)
Weighted Average Diluted Shares Outstanding	2.78M	9.06M	123.55M	12.39M	15.89M	2.98M	6.84M	12.73M	17.55M	16.26M	33.19M
Weighted Average Basic & Diluted Shares Outstanding	2.78M	9.06M	123.55M	12.39M	15.89M	2.98M	6.84M	13.77M	15.69M	20.09M	49.75M

This table shows BTCS's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Consolidated Net Income / (Loss)	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Net Income / (Loss) Continuing Operations	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Total Pre-Tax Income	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Total Operating Income	-0.94	-0.85	-0.93	-1.72	2.25	-17	4.27	-5.99	-16	-68	-33
Total Gross Profit	0.25	0.29	0.39	0.20	0.07	0.12	-0.08	1.09	0.88	1.01	1.49
Total Revenue	0.33	0.45	0.56	0.74	2.32	1.69	2.78	4.94	7.09	2.15	2.45
Operating Revenue	0.33	0.45	0.56	0.74	2.32	1.69	2.78	4.94	7.09	2.15	2.45
Total Cost of Revenue	0.08	0.16	0.17	0.54	2.25	1.57	2.85	3.85	6.21	1.13	0.95
Operating Cost of Revenue	0.08	0.16	0.17	0.54	2.25	1.57	2.85	3.85	6.21	1.13	0.95
Total Operating Expenses	1.19	1.14	1.32	1.92	-2.19	18	-4.35	7.08	17	69	35
Selling, General & Admin Expense	-0.06	0.49	0.54	0.59	0.06	0.56	0.66	1.50	0.50	0.54	0.71
Marketing Expense	0.00	0.06	0.03	0.06	-0.06	0.25	0.02	0.26	0.08	0.03	0.06
Research & Development Expense	0.16	0.15	0.16	0.21	0.23	0.21	0.19	0.15	0.13	0.08	0.08
Other Operating Expenses / (Income)	1.09	0.45	0.59	1.06	-2.42	17	-5.22	5.18	17	68	29
Impairment Charge	-	-	-	-	-	0.00	0.00	-	-	0.21	5.24
Total Other Income / (Expense), net	8.26	13	-5.80	-7.31	-0.01	0.23	-0.39	72	-69	-1.55	-1.60
Interest Expense	-	-	0.00	0.00	-	0.00	0.22	1.50	-	1.55	1.60
Other Income / (Expense), net	8.26	13	-5.80	-7.31	-0.01	0.23	-0.17	73	-67	0.00	0.00
Basic Earnings per Share	$0.50	$0.78	($0.43)	($0.56)	$0.13	($0.86)	$0.18	$1.48	($1.80)	($1.43)	($0.70)
Weighted Average Basic Shares Outstanding	14.09M	15.69M	15.76M	16.16M	16.26M	19.97M	21.26M	44.23M	33.19M	48.23M	49.78M
Diluted Earnings per Share	$0.47	$0.63	($0.43)	($0.56)	$0.28	($0.86)	$0.14	$1.30	($1.58)	($1.43)	($0.70)
Weighted Average Diluted Shares Outstanding	17.55M	19.41M	15.76M	16.16M	16.26M	19.97M	27.94M	50.30M	33.19M	48.23M	49.78M
Weighted Average Basic & Diluted Shares Outstanding	15.69M	15.71M	16.17M	17.03M	20.09M	21.10M	48.05M	46.84M	49.75M	49.78M	52.47M

This table details how cash moves in and out of BTCS's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.12	-0.03	0.21	-0.25	0.09	0.38	0.88	0.75	-0.69	0.52	-0.45
Net Cash From Operating Activities	-0.80	-0.83	-1.49	-0.51	-1.50	-2.97	-4.86	-0.78	-3.56	-3.53	-9.78
Net Cash From Continuing Operating Activities	-0.80	-1.08	-22	-0.51	-1.50	-2.97	-4.86	-0.78	-3.56	-3.53	-9.78
Net Income / (Loss) Continuing Operations	-10	-44	-45	-0.83	-1.64	-2.56	-16	-16	7.82	-1.27	-33
Consolidated Net Income / (Loss)	-10	-44	-45	-0.83	-1.64	-2.56	-16	-16	7.82	-1.27	-33
Depreciation Expense	0.30	0.18	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.00
Amortization Expense	-	-	-	0.00	0.06	0.35	1.87	-	-	0.00	1.50
Non-Cash Adjustments To Reconcile Net Income	8.53	43	25	0.22	-0.23	-0.74	9.84	15	-12	-5.47	21
Changes in Operating Assets and Liabilities, net	0.42	0.17	-0.74	0.10	0.31	-0.03	-0.52	0.43	0.46	3.21	1.43
Net Cash From Investing Activities	-3.23	0.39	0.00	-0.00	0.00	0.00	-9.47	-8.97	0.19	-2.63	-197
Net Cash From Continuing Investing Activities	-3.23	0.39	-0.00	-0.00	0.00	0.00	-9.47	-8.97	0.19	-2.63	-197
Purchase of Property, Plant & Equipment	-0.55	-0.01	-0.00	-0.00	-	0.00	-0.01	-0.01	-0.01	-0.00	-0.01
Purchase of Investments	-2.35	-	-	-	-	-	0.00	-0.10	-	0.00	-0.50
Sale of Property, Plant & Equipment	0.01	0.07	-	-	-	-	-	0.00	0.00	0.00	0.00
Other Investing Activities, net	-0.33	0.34	0.00	-	-	0.00	-9.46	-8.87	0.19	-2.63	-197
Net Cash From Financing Activities	4.14	0.41	1.70	0.26	1.59	3.35	15	10	2.69	6.68	207
Net Cash From Continuing Financing Activities	4.14	0.41	1.70	0.26	1.59	3.35	15	10	2.69	6.68	207
Repayment of Debt	-0.03	-	-0.05	-	-	0.00	-2.00	-	-	0.00	-62
Repurchase of Common Equity	-0.00	-	-	-	-	-	-	-	-	0.00	-4.00
Payment of Dividends	-	-	-	-	-	-	0.00	-0.63	-	0.00	-2.68
Issuance of Debt	1.48	0.32	0.00	0.20	0.20	1.50	1.00	-	-	0.00	123
Issuance of Preferred Equity	-	-	1.75	-	-	0.00	1.10	-	-	0.00	17
Issuance of Common Equity	2.70	-	-	0.00	1.16	1.85	15	11	2.69	6.68	135
Other Financing Activities, net	0.00	0.09	0.00	0.06	0.23	0.00	0.40	-	-	0.00	0.15
Cash Interest Paid	-	-	-	0.00	-	-	-	-	-	0.00	1.80

This table details how cash moves in and out of BTCS's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	0.71	-0.79	-0.13	-0.28	1.72	-1.71	0.37	3.85	-2.96	-1.24	-0.02
Net Cash From Operating Activities	-0.87	-0.77	-0.92	-0.70	-1.14	-1.90	-1.33	-2.80	-3.75	-1.74	0.48
Net Cash From Continuing Operating Activities	-0.87	-0.77	-0.92	-0.70	-1.14	-1.90	-1.33	-2.80	-3.75	-1.74	0.48
Net Income / (Loss) Continuing Operations	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Consolidated Net Income / (Loss)	7.31	12	-6.73	-9.04	2.24	-17	3.88	66	-86	-69	-35
Depreciation Expense	0.00	-13	5.94	7.16	0.00	0.00	-8.79	-74	68	0.00	0.00
Amortization Expense	-	-	-	-	-	0.00	-	0.60	0.74	0.81	0.89
Non-Cash Adjustments To Reconcile Net Income	-8.58	0.78	-0.60	0.71	-6.36	19	3.12	3.57	9.39	67	34
Changes in Operating Assets and Liabilities, net	0.40	-0.70	0.46	0.48	2.98	-3.72	0.30	1.16	3.68	-0.64	0.38
Net Cash From Investing Activities	-0.00	-0.02	0.55	-0.00	-3.16	-0.03	-13	-183	-0.66	18	-18
Net Cash From Continuing Investing Activities	-0.00	-0.02	0.55	-0.00	-3.16	-0.03	-13	-183	-0.66	18	-18
Other Investing Activities, net	-0.00	-0.02	0.55	-0.00	-3.16	0.22	-13	-183	-0.56	18	-18
Net Cash From Financing Activities	1.57	0.00	0.24	0.41	6.03	0.23	15	190	1.46	-18	18
Net Cash From Continuing Financing Activities	1.57	0.00	0.24	0.41	6.03	0.23	15	190	1.46	-18	18
Repayment of Debt	-	-	-	-	-	0.00	-	-0.01	-60	-18	18
Cash Interest Paid	-	-	-	-	-	0.00	-	0.24	1.50	0.27	0.27

This table presents BTCS's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3.23	0.10	0.59	0.06	0.42	1.55	14	9.92	27	38	215
Total Current Assets	0.15	0.10	0.59	0.06	0.42	1.55	5.47	4.10	27	38	214
Cash & Equivalents	0.12	0.10	0.30	0.05	0.14	0.52	1.40	2.15	1.46	1.98	1.53
Prepaid Expenses	0.01	0.00	0.07	0.01	0.02	0.03	0.32	0.12	0.06	0.06	0.15
Other Current Assets	0.02	0.00	0.22	0.00	0.25	1.00	3.74	1.83	26	36	212
Plant, Property, & Equipment, net	0.49	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01
Total Noncurrent Assets	2.59	0.00	0.00	0.00	0.00	0.00	8.63	5.81	0.10	0.10	0.60
Other Noncurrent Operating Assets	0.34	0.00	-	-	-	0.00	8.63	5.81	0.10	0.10	0.60
Total Liabilities & Shareholders' Equity	3.23	0.10	0.59	0.06	0.42	1.55	14	9.92	27	38	215
Total Liabilities	6.02	45	0.08	0.32	0.61	0.51	2.00	0.59	0.98	4.25	75
Total Current Liabilities	6.02	45	0.08	0.32	0.61	0.51	2.00	0.59	0.98	4.25	63
Short-Term Debt	1.83	3.33	0.00	0.20	0.16	0.13	-	-	-	0.00	62
Accounts Payable	0.40	0.77	0.08	0.01	0.03	0.03	0.14	0.08	0.06	0.07	0.04
Accrued Expenses	-	-	-	0.10	0.42	0.35	0.01	0.30	0.71	3.91	1.61
Other Current Liabilities	3.79	41	-	-	-	0.00	1.85	0.21	0.21	0.27	0.00
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	0.23
Total Noncurrent Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12
Long-Term Debt	-	-	-	-	-	-	-	-	-	0.00	12
Commitments & Contingencies	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	-2.79	-45	0.51	-0.26	-0.18	1.04	12	9.33	26	34	139
Total Preferred & Common Equity	-2.79	-45	0.51	-0.26	-0.18	1.04	12	9.33	26	34	139
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	2.56	2.65	1.98
Total Common Equity	-2.79	-45	0.51	-0.26	-0.18	1.04	12	9.33	24	31	137
Common Stock	22	24	115	115	117	121	148	161	162	171	311
Retained Earnings	-25	-69	-115	-115	-117	-120	-136	-151	-139	-140	-173

This table presents BTCS's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	8.92	40	34	27	21	41	299	129	89
Total Current Assets	8.90	39	34	26	21	40	298	128	89
Cash & Equivalents	0.75	0.67	0.54	0.25	0.27	0.64	4.49	0.28	0.26
Prepaid Expenses	0.11	0.03	0.18	0.38	0.24	0.23	0.15	0.25	0.25
Other Current Assets	7.94	39	33	26	20	29	294	128	88
Plant, Property, & Equipment, net	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Total Noncurrent Assets	0.00	0.10	0.10	0.10	0.35	0.35	0.50	0.60	0.60
Other Noncurrent Operating Assets	0.00	0.10	0.10	0.10	0.35	0.35	0.50	0.60	0.60
Total Liabilities & Shareholders' Equity	8.92	40	34	27	21	41	299	129	89
Total Liabilities	0.49	0.25	0.71	1.34	0.48	9.74	73	57	50
Total Current Liabilities	0.49	0.25	0.71	1.34	0.48	4.94	62	44	43
Short-Term Debt	-	-	-	-	-	4.00	57	44	42
Accounts Payable	0.09	0.03	0.13	0.27	0.12	0.10	0.09	0.02	0.10
Accrued Expenses	0.32	0.01	0.51	1.05	0.31	0.62	1.05	0.25	0.49
Other Current Liabilities	0.07	0.21	0.07	0.02	0.04	0.21	0.86	0.00	0.00
Other Current Nonoperating Liabilities	-	-	-	-	-	0.01	0.68	0.22	0.29
Total Noncurrent Liabilities	0.00	0.00	0.00	0.00	0.00	4.80	11	13	7.36
Long-Term Debt	-	-	-	-	-	4.80	11	13	7.36
Commitments & Contingencies	-	-	-	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	8.43	39	33	25	21	31	225	72	39
Total Preferred & Common Equity	8.43	39	33	25	21	31	225	72	39
Preferred Stock	2.56	2.56	2.56	2.56	2.82	2.82	1.98	1.98	1.98
Total Common Equity	5.87	37	31	23	18	28	223	70	37
Common Stock	160	163	164	165	175	182	311	313	314
Retained Earnings	-155	-126	-133	-142	-157	-153	-88	-242	-277

This table displays calculated financial ratios and metrics derived from BTCS's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	157,400,545.00	965,756,004.00	245,714,073.00	372,605,986.00	19,564,154.00	36,838,511.00	10,275,258.00	13,077,390.00	14,373,186.00	17,025,282.00	46,838,532.00
DEI Adjusted Shares Outstanding	159,655,567.00	979,592,050.00	249,234,332.00	377,944,181.00	19,844,443.00	37,366,283.00	10,422,468.00	13,077,390.00	14,373,186.00	17,025,282.00	46,838,532.00
DEI Earnings Per Adjusted Shares Outstanding	-0.06	-0.08	-0.18	0.00	-0.09	-0.07	-2.03	-1.22	0.54	-0.07	-0.71
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1,224.62%	-29.83%	-98.74%	-100.00%	0.00%	0.00%	0.00%	39.49%	-20.85%	204.08%	304.85%
EBITDA Growth	33.90%	-338.18%	-36.17%	98.58%	-80.39%	-20.76%	-574.45%	-31.03%	149.24%	-116.17%	-2,138.35%
EBIT Growth	32.00%	-326.95%	-35.59%	98.58%	-88.10%	-38.53%	-549.88%	-13.56%	149.20%	-116.26%	-2,246.42%
NOPAT Growth	43.70%	82.24%	-7.79%	36.92%	-44.66%	-38.67%	-801.88%	2.33%	64.75%	79.81%	-2,300.96%
Net Income Growth	31.92%	-340.58%	-2.71%	98.18%	-98.52%	-55.80%	-527.89%	0.98%	149.20%	-116.26%	-2,523.83%
EPS Growth	0.00%	0.00%	92.43%	81.08%	-57.14%	-681.82%	0.00%	0.00%	136.00%	-117.78%	-1,150.00%
Operating Cash Flow Growth	24.95%	-4.01%	-79.64%	66.03%	-196.55%	-98.28%	-63.53%	84.02%	-358.59%	0.90%	-177.16%
Free Cash Flow Firm Growth	76.44%	1,670.32%	-215.05%	99.13%	-151.73%	-134.00%	-922.92%	61.36%	-150.20%	62.52%	-2,347.53%
Invested Capital Growth	-146,580.87%	-1,158.65%	100.50%	-151.46%	-54.48%	489.87%	1,543.79%	-32.87%	243.91%	29.61%	560.35%
Revenue Q/Q Growth	33.09%	-30.37%	38.57%	0.00%	0.00%	0.00%	56.27%	-8.93%	4.30%	96.04%	40.70%
EBITDA Q/Q Growth	40.38%	-67.77%	27.56%	-130.25%	-3,722.27%	-947.90%	-7.64%	-6.57%	980.55%	-133.22%	-139.50%
EBIT Q/Q Growth	39.39%	-66.69%	27.56%	-130.30%	0.00%	0.00%	-6.42%	-6.57%	975.35%	-133.42%	-153.11%
NOPAT Q/Q Growth	46.77%	12.41%	-66.60%	59.92%	0.00%	0.00%	0.16%	-8.55%	-17.05%	80.38%	-10.63%
Net Income Q/Q Growth	39.36%	-54.91%	27.70%	-62.87%	0.00%	0.00%	1.09%	-5.40%	975.35%	-133.42%	-161.26%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-104.86%	0.00%	0.00%	0.00%	0.00%	0.00%	-133.33%	-216.28%
Operating Cash Flow Q/Q Growth	-86.60%	13.38%	-33.76%	38.95%	-12.12%	-46.24%	6.75%	28.52%	-6.63%	-8.38%	-36.39%
Free Cash Flow Firm Q/Q Growth	67.00%	113.12%	-148.11%	94.18%	-258.48%	-919.45%	-5.93%	12.96%	-466.91%	62.46%	30.03%
Invested Capital Q/Q Growth	-20.16%	-94.41%	104.37%	-13.66%	-199.32%	742.38%	23.50%	-3.08%	226.07%	28.39%	-27.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.69%	25.72%	96.43%	0.00%	0.00%	0.00%	77.88%	74.80%	73.14%	23.22%	12.19%
EBITDA Margin	-1,923.46%	-12,010.63%	-1,296,757.48%	0.00%	0.00%	0.00%	-999.42%	-938.80%	584.02%	-31.07%	-171.76%
Operating Margin	-1,619.61%	-409.98%	-35,039.58%	0.00%	0.00%	0.00%	-1,476.45%	-1,033.76%	-322.25%	-30.56%	-181.26%
EBIT Margin	-1,982.49%	-12,061.87%	-1,296,783.57%	0.00%	0.00%	0.00%	-1,153.46%	-939.04%	583.65%	-31.21%	-180.86%
Profit (Net Income) Margin	-1,984.83%	-12,461.65%	-1,014,834.13%	0.00%	0.00%	0.00%	-1,322.82%	-939.04%	583.65%	-31.21%	-202.25%
Tax Burden Percent	100.00%	111.27%	107.79%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.12%	92.85%	72.60%	100.00%	105.54%	118.70%	114.68%	100.00%	100.00%	100.00%	111.82%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-220.89%	-136.94%	-27.07%	-3.07%	-17.19%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	170.63%	68.58%	-700.32%	20.19%	-52.67%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-23.27%	-11.35%	71.13%	-1.15%	-21.28%
Return on Equity (ROE)	722.23%	184.28%	203.25%	-641.86%	746.15%	-594.77%	-244.16%	-148.29%	44.05%	-4.23%	-38.47%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-20,622.55%	0.00%	0.00%	-339.19%	-397.95%	-97.60%	-136.96%	-28.86%	-164.58%
Operating Return on Assets (OROA)	-572.35%	-2,572.57%	-16,900.75%	0.00%	0.00%	0.00%	-178.80%	-132.33%	42.19%	-3.89%	-23.59%
Return on Assets (ROA)	-573.03%	-2,657.84%	-13,226.15%	0.00%	0.00%	0.00%	-205.06%	-132.33%	42.19%	-3.89%	-26.38%
Return on Common Equity (ROCE)	722.80%	184.28%	203.25%	-641.41%	746.25%	-594.73%	-244.16%	-148.29%	40.87%	-3.86%	-37.44%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-5.74	-1.02	-1.10	-0.69	-1.00	-1.39	-13	-12	-4.32	-0.87	-21
NOPAT Margin	-1,133.73%	-286.98%	-24,527.70%	0.00%	0.00%	0.00%	-1,033.52%	-723.63%	-322.25%	-21.39%	-126.88%
Net Nonoperating Expense Percent (NNEP)	-1,555.93%	3,221.79%	3,028.84%	-171.42%	774.95%	-620.99%	-391.52%	-205.52%	673.25%	-23.26%	35.48%
Return On Investment Capital (ROIC_SIMPLE)	595.46%	2.43%	-213.99%	1,237.87%	4,194.21%	-118.31%	-103.60%	-131.25%	-16.50%	-2.56%	-9.84%
Cost of Revenue to Revenue	57.31%	74.28%	3.57%	0.00%	0.00%	0.00%	22.12%	25.20%	26.86%	76.78%	87.81%
SG&A Expenses to Revenue	1,599.66%	368.52%	34,929.71%	0.00%	0.00%	0.00%	131.11%	113.22%	108.29%	41.05%	19.52%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	58.74%	36.15%	51.30%	18.55%	4.12%
Operating Expenses to Revenue	1,662.30%	440.57%	35,136.00%	0.00%	0.00%	0.00%	1,554.33%	1,108.56%	395.39%	53.79%	193.45%
Earnings before Interest and Taxes (EBIT)	-10	-43	-58	-0.83	-1.55	-2.15	-14	-16	7.82	-1.27	-30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.74	-43	-58	-0.83	-1.49	-1.80	-12	-16	7.82	-1.27	-28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	76.58	0.00	0.00	7.15	2.67	0.88	0.99	1.33	0.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	76.58	0.00	0.00	7.15	2.67	0.88	0.99	1.33	0.90
Price to Revenue (P/Rev)	49.75	435.01	8,775.50	0.00	0.00	0.00	26.59	4.87	17.49	10.21	7.50
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.89%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.37%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	185.68	0.00	0.00	10.86	2.88	0.85	0.99	1.32	0.93
Enterprise Value to Revenue (EV/Rev)	48.67	444.11	8,707.81	0.00	0.00	0.00	25.44	3.60	18.31	10.37	11.97
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.14	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.14	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	4.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-0.65	-0.07	0.00	-0.78	-0.87	0.13	0.00	0.00	0.00	0.00	0.53
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08
Financial Leverage	0.20	-0.06	-0.07	-0.60	-0.37	-0.44	-0.14	-0.17	-0.10	-0.06	0.40
Leverage Ratio	-1.26	-0.07	-0.02	2.53	-1.10	2.30	1.19	1.12	1.04	1.09	1.46
Compound Leverage Factor	-1.26	-0.06	-0.01	2.53	-1.16	2.73	1.37	1.12	1.04	1.09	1.63
Debt to Total Capital	-189.48%	-7.94%	0.00%	-357.19%	-668.68%	11.23%	0.00%	0.00%	0.00%	0.00%	34.47%
Short-Term Debt to Total Capital	-189.48%	-7.94%	0.00%	-357.19%	-668.68%	11.23%	0.00%	0.00%	0.00%	0.00%	28.91%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.01%	-0.05%	-0.12%	0.00%	0.00%	0.00%	9.80%	7.78%	0.93%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	289.48%	107.94%	99.97%	457.24%	768.80%	88.77%	100.00%	100.00%	90.20%	92.22%	64.60%
Debt to EBITDA	-0.19	-0.08	0.00	-0.24	-0.11	-0.07	0.00	0.00	0.00	0.00	-2.59
Net Debt to EBITDA	0.06	-0.08	0.00	-0.18	-0.01	0.22	0.00	0.00	0.00	0.00	-2.54
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.42
Debt to NOPAT	-0.32	-3.26	0.00	-0.29	-0.16	-0.09	0.00	0.00	0.00	0.00	-3.51
Net Debt to NOPAT	0.10	-3.17	0.00	-0.21	-0.02	0.28	0.00	0.00	0.00	0.00	-3.43
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.57
Altman Z-Score	-20.49	-2,975.50	-285.82	-2,588.26	-400.08	-102.81	-6.67	-17.65	9.33	1.81	0.32
Noncontrolling Interest Sharing Ratio	-0.08%	0.00%	0.00%	0.07%	-0.01%	0.01%	0.00%	0.00%	7.22%	8.66%	2.67%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.03	0.00	7.74	0.19	0.69	3.05	2.74	6.99	27.56	8.98	3.38
Quick Ratio	0.02	0.00	3.99	0.16	0.24	1.03	0.70	3.66	1.49	0.47	0.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2.40	38	-43	-0.37	-0.94	-2.21	-23	-8.73	-22	-8.19	-200
Operating Cash Flow to CapEx	-146.21%	0.00%	-100,219.12%	-19,461.86%	0.00%	0.00%	-46,341.20%	-14,363.48%	-81,478.66%	-133,312.24%	-88,872.22%
Free Cash Flow to Firm to Interest Expense	-202.02	0.00	0.00	0.00	-10.96	-5.48	-10.99	0.00	0.00	0.00	-56.82
Operating Cash Flow to Interest Expense	-67.10	0.00	0.00	0.00	-17.41	-7.38	-2.37	0.00	0.00	0.00	-2.77
Operating Cash Flow Less CapEx to Interest Expense	-112.99	0.00	0.00	0.00	-17.41	-7.38	-2.37	0.00	0.00	0.00	-2.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.21	0.01	0.00	0.00	0.00	0.16	0.14	0.07	0.12	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.49	0.00	0.00	0.00	0.00	0.00	242.34	161.69	123.80	454.15	1,510.29
Accounts Payable Turnover	0.87	0.45	0.00	0.00	0.00	0.00	3.25	3.96	5.46	49.84	265.79
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	420.60	811.26	965,532.22	0.00	0.00	0.00	112.22	92.20	66.85	7.32	1.37
Cash Conversion Cycle (CCC)	-420.60	-811.26	-965,532.22	0.00	0.00	0.00	-112.22	-92.20	-66.85	-7.32	-1.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-3.34	-42	0.21	-0.11	-0.17	0.65	11	7.18	25	32	211
Invested Capital Turnover	-0.30	-0.02	0.00	0.00	0.00	0.00	0.21	0.19	0.08	0.14	0.14
Increase / (Decrease) in Invested Capital	-3.34	-39	42	-0.32	-0.06	0.82	10	-3.52	18	7.31	179
Enterprise Value (EV)	25	158	39	9.09	1.35	7.07	31	6.09	25	42	197
Market Capitalization	25	155	39	8.94	1.33	7.46	32	8.24	23	42	124
Book Value per Share	($0.02)	($0.05)	$0.00	$0.00	($0.01)	$0.03	$1.18	$0.71	$1.64	$1.84	$2.93
Tangible Book Value per Share	($0.02)	($0.05)	$0.00	$0.00	($0.01)	$0.03	$1.18	$0.71	$1.64	$1.84	$2.93
Total Capital	-0.96	-42	0.51	-0.06	-0.02	1.18	12	9.33	26	34	213
Total Debt	1.83	3.33	0.00	0.20	0.16	0.13	0.00	0.00	0.00	0.00	73
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12
Net Debt	-0.55	3.23	-0.30	0.15	0.02	-0.39	-1.40	-2.15	-1.46	-1.98	72
Capital Expenditures (CapEx)	0.54	-0.05	0.00	0.00	0.00	0.00	0.01	0.01	0.00	0.00	0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4.17	-42	0.21	-0.11	-0.17	0.65	2.07	1.36	25	32	211
Debt-free Net Working Capital (DFNWC)	-4.05	-42	0.51	-0.06	-0.03	1.17	3.47	3.51	26	34	212
Net Working Capital (NWC)	-5.87	-45	0.51	-0.26	-0.19	1.04	3.47	3.51	26	34	151
Net Nonoperating Expense (NNE)	4.31	43	44	0.13	0.64	1.17	3.51	3.65	-12	0.40	12
Net Nonoperating Obligations (NNO)	-0.55	3.23	-0.30	0.15	0.02	-0.39	-1.40	-2.15	-1.46	-1.98	72
Total Depreciation and Amortization (D&A)	0.30	0.18	0.00	0.00	0.07	0.36	1.87	0.00	0.01	0.01	1.50
Debt-free, Cash-free Net Working Capital to Revenue	-823.94%	-11,829.67%	4,662.01%	0.00%	0.00%	0.00%	170.37%	80.63%	1,836.10%	783.47%	1,277.13%
Debt-free Net Working Capital to Revenue	-799.33%	-11,802.91%	11,432.86%	0.00%	0.00%	0.00%	285.83%	207.47%	1,944.97%	832.02%	1,286.38%
Net Working Capital to Revenue	-1,160.10%	-12,739.82%	11,432.86%	0.00%	0.00%	0.00%	285.83%	207.47%	1,944.97%	832.02%	913.46%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	$0.00	($0.35)	$0.00	$0.00	($0.09)	($3.05)	($1.25)	$0.55	($0.08)	($1.00)
Adjusted Weighted Average Basic Shares Outstanding	159.74M	9.19M	373.49M	392.83M	0.00	45.05M	12.73M	12.73M	14.09M	16.26M	33.19M
Adjusted Diluted Earnings per Share	($0.06)	$0.00	($0.35)	$0.00	$0.00	($0.09)	($3.05)	$0.00	$0.55	($0.08)	($1.00)
Adjusted Weighted Average Diluted Shares Outstanding	159.74M	9.19M	373.49M	392.83M	0.00	45.05M	12.73M	13.77M	14.09M	16.26M	33.19M
Adjusted Basic & Diluted Earnings per Share	($0.06)	$0.00	($0.35)	$0.00	$0.00	($0.09)	($3.05)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	169.04M	9.19M	125.32M	376.89M	0.00	30.26M	6.94M	13.77M	15.69M	20.09M	49.75M
Normalized Net Operating Profit after Tax (NOPAT)	-5.74	-0.85	-1.10	-0.69	-1.00	-1.39	-9.85	-2.90	-3.02	-0.87	-21
Normalized NOPAT Margin	-1,133.73%	-240.36%	-24,527.70%	0.00%	0.00%	0.00%	-811.63%	-171.52%	-225.57%	-21.39%	-126.88%
Pre Tax Income Margin	-1,984.83%	-11,199.68%	-941,451.72%	0.00%	0.00%	0.00%	-1,322.82%	-939.04%	583.65%	-31.21%	-202.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-845.35	0.00	0.00	0.00	-18.05	-5.35	-6.81	0.00	0.00	0.00	-8.46
NOPAT to Interest Expense	-483.43	0.00	0.00	0.00	-11.64	-3.45	-6.10	0.00	0.00	0.00	-5.93
EBIT Less CapEx to Interest Expense	-891.24	0.00	0.00	0.00	-18.05	-5.35	-6.82	0.00	0.00	0.00	-8.46
NOPAT Less CapEx to Interest Expense	-529.32	0.00	0.00	0.00	-11.64	-3.45	-6.11	0.00	0.00	0.00	-5.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.97%	0.00%	0.00%	-8.04%
Augmented Payout Ratio	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.97%	0.00%	0.00%	-20.03%

This table displays calculated financial ratios and metrics derived from BTCS's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	14,373,186.00	15,691,209.00	15,705,415.00	16,174,923.00	17,025,282.00	20,087,981.00	21,095,390.00	48,052,778.00	46,838,532.00	49,754,240.00	49,775,371.00
DEI Adjusted Shares Outstanding	14,373,186.00	15,691,209.00	15,705,415.00	16,174,923.00	17,025,282.00	20,087,981.00	21,095,390.00	48,052,778.00	46,838,532.00	49,754,240.00	49,775,371.00
DEI Earnings Per Adjusted Shares Outstanding	0.51	0.78	-0.43	-0.56	0.13	-0.86	0.18	1.36	-1.83	-1.39	-0.70
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.39%	44.90%	45.48%	133.73%	611.93%	274.17%	393.98%	568.13%	205.45%	27.14%	-11.86%
EBITDA Growth	624.13%	-117.01%	33.47%	42.76%	-69.37%	-1,944.53%	-499.26%	-221.20%	-769.86%	-286.87%	-861.76%
EBIT Growth	623.58%	146.84%	-471.10%	-175.30%	-69.38%	-240.89%	160.94%	842.11%	-3,838.72%	-291.56%	-911.57%
NOPAT Growth	28.86%	18.86%	44.67%	-163.52%	338.64%	-1,347.34%	-597.77%	-396.27%	-609.86%	-286.52%	-646.10%
Net Income Growth	623.58%	146.84%	-471.10%	-175.30%	-69.38%	-240.89%	157.69%	825.56%	-3,919.60%	-300.52%	-999.21%
EPS Growth	0.00%	117.24%	-437.50%	-143.48%	-40.43%	-236.51%	132.56%	332.14%	-664.29%	-66.28%	-600.00%
Operating Cash Flow Growth	-34.22%	31.71%	-0.50%	-7.30%	-31.42%	-147.38%	-44.26%	-302.24%	-228.60%	8.44%	135.88%
Free Cash Flow Firm Growth	-942.82%	-551.91%	-1,559.88%	-2,883.01%	72.59%	119.01%	56.38%	-1,372.29%	-3,671.84%	-2,651.29%	-2,928.35%
Invested Capital Growth	243.91%	420.96%	330.23%	229.16%	29.61%	-47.48%	20.45%	1,072.25%	560.35%	533.22%	125.34%
Revenue Q/Q Growth	3.13%	38.41%	24.33%	31.71%	214.11%	-27.26%	64.14%	78.14%	43.61%	-69.72%	13.93%
EBITDA Q/Q Growth	322.90%	-111.54%	7.29%	-139.96%	219.27%	-870.50%	-71.44%	-28.62%	-148.75%	-344.99%	51.48%
EBIT Q/Q Growth	322.77%	67.56%	-154.89%	-34.36%	124.78%	-870.96%	123.74%	1,536.28%	-224.83%	19.26%	50.75%
NOPAT Q/Q Growth	-106.05%	10.38%	23.30%	-86.06%	286.60%	-643.55%	-118.31%	-32.33%	-91.71%	-312.05%	50.75%
Net Income Q/Q Growth	322.77%	67.56%	-154.89%	-34.36%	124.78%	-870.96%	122.48%	1,589.77%	-230.44%	19.16%	49.54%
EPS Q/Q Growth	304.35%	34.04%	-168.25%	-30.23%	150.00%	-407.14%	116.28%	828.57%	-221.54%	9.49%	51.05%
Operating Cash Flow Q/Q Growth	-34.11%	11.49%	-20.16%	24.77%	-64.24%	-66.62%	29.93%	-109.77%	-34.17%	53.58%	127.43%
Free Cash Flow Firm Q/Q Growth	-2,866.27%	-73.61%	19.99%	27.61%	72.74%	220.42%	-168.79%	-2,343.38%	30.17%	18.55%	53.39%
Invested Capital Q/Q Growth	226.07%	56.35%	-15.67%	-23.44%	28.39%	-36.64%	93.40%	645.12%	-27.68%	-39.24%	-31.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.15%	64.42%	69.91%	26.50%	2.89%	7.12%	-2.92%	22.03%	12.45%	47.23%	61.08%
EBITDA Margin	2,243.43%	-187.11%	-139.53%	-254.21%	96.53%	-1,022.41%	-169.27%	-122.21%	-211.68%	-3,110.96%	-1,324.99%
Operating Margin	-289.48%	-187.44%	-165.19%	-233.35%	97.03%	-1,035.79%	-163.34%	-121.33%	-231.38%	-3,148.79%	-1,361.25%
EBIT Margin	2,242.96%	2,715.32%	-1,198.85%	-1,222.99%	96.47%	-1,022.46%	147.89%	1,358.41%	-1,180.83%	-3,148.79%	-1,361.25%
Profit (Net Income) Margin	2,242.96%	2,715.32%	-1,198.85%	-1,222.99%	96.47%	-1,022.46%	140.02%	1,328.11%	-1,206.37%	-3,220.87%	-1,426.70%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.09%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	94.59%	97.77%	102.16%	102.29%	104.81%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-24.32%	-12.05%	-9.53%	-20.87%	13.94%	-130.72%	-34.22%	-8.96%	-21.94%	-502.29%	-248.12%
ROIC Less NNEP Spread (ROIC-NNEP)	-482.50%	-1,195.85%	759.91%	1,393.30%	14.69%	937.41%	186.16%	205.62%	-233.37%	-580.13%	-288.28%
Return on Net Nonoperating Assets (RNNOA)	49.00%	54.85%	-28.77%	-45.90%	-0.84%	-14.73%	22.14%	54.74%	-94.29%	-351.19%	-238.06%
Return on Equity (ROE)	24.68%	42.81%	-38.31%	-66.77%	13.10%	-145.45%	-12.08%	45.78%	-116.23%	-853.48%	-486.18%
Cash Return on Invested Capital (CROIC)	-136.96%	-153.48%	-141.36%	-134.11%	-28.86%	19.74%	-47.11%	-180.48%	-164.58%	-220.75%	-206.00%
Operating Return on Assets (OROA)	162.14%	163.81%	-91.77%	-143.37%	12.02%	-179.27%	29.81%	97.87%	-154.02%	-711.34%	-347.88%
Return on Assets (ROA)	162.14%	163.81%	-91.77%	-143.37%	12.02%	-179.27%	28.22%	95.68%	-157.35%	-727.63%	-364.60%
Return on Common Equity (ROCE)	22.90%	40.53%	-33.60%	-56.60%	11.96%	-132.37%	-11.07%	44.95%	-113.13%	-809.33%	-452.85%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.94	-0.85	-0.65	-1.21	2.25	-12	-4.53	-5.99	-11	-47	-23
NOPAT Margin	-289.48%	-187.44%	-115.63%	-163.35%	97.03%	-725.05%	-163.34%	-121.33%	-161.97%	-2,204.16%	-952.87%
Net Nonoperating Expense Percent (NNEP)	458.18%	1,183.81%	-769.44%	-1,414.17%	-0.76%	-1,068.13%	-220.38%	-214.58%	211.43%	77.84%	40.15%
Return On Investment Capital (ROIC_SIMPLE)	-3.61%	-2.15%	-1.96%	-4.79%	6.63%	-59.57%	-11.36%	-2.05%	-5.40%	-36.82%	-26.37%
Cost of Revenue to Revenue	24.85%	35.58%	30.09%	73.50%	97.11%	92.88%	102.92%	77.97%	87.55%	52.77%	38.92%
SG&A Expenses to Revenue	-18.37%	108.02%	96.04%	79.40%	2.53%	33.06%	23.80%	30.33%	7.11%	25.09%	29.11%
R&D to Revenue	47.91%	32.47%	29.18%	28.86%	10.00%	12.39%	6.98%	2.95%	1.85%	3.75%	3.35%
Operating Expenses to Revenue	364.63%	251.86%	235.10%	259.85%	-94.15%	1,042.91%	160.42%	143.36%	243.83%	3,196.03%	1,422.32%
Earnings before Interest and Taxes (EBIT)	7.31	12	-6.73	-9.04	2.24	-17	4.10	67	-84	-68	-33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.32	-0.84	-0.78	-1.88	2.24	-17	-4.69	-6.04	-15	-67	-32
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	0.75	0.71	0.82	1.33	1.68	1.64	1.04	0.90	0.99	1.50
Price to Tangible Book Value (P/TBV)	0.99	0.75	0.71	0.82	1.33	1.68	1.64	1.04	0.90	0.99	1.50
Price to Revenue (P/Rev)	17.49	18.67	13.10	8.93	10.21	5.61	6.17	19.80	7.50	4.08	3.32
Price to Earnings (P/E)	3.00	1.83	2.27	4.88	0.00	0.00	0.00	4.26	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.04%	1.89%	3.60%	4.50%
Earnings Yield	33.37%	54.71%	44.11%	20.50%	0.00%	0.00%	0.00%	23.46%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.99	0.76	0.73	0.84	1.32	1.59	1.46	1.02	0.93	0.99	1.20
Enterprise Value to Revenue (EV/Rev)	18.31	19.95	14.32	10.04	10.37	6.09	7.63	25.35	11.97	7.51	6.41
Enterprise Value to EBITDA (EV/EBITDA)	3.14	14.66	9.85	5.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	3.14	1.95	2.48	5.49	0.00	0.00	0.00	5.29	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	5.56	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.28	0.30	0.53	0.78	1.28
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.15	0.05	0.08	0.18	0.19
Financial Leverage	-0.10	-0.05	-0.04	-0.03	-0.06	-0.02	0.12	0.27	0.40	0.61	0.83
Leverage Ratio	1.04	1.02	1.04	1.05	1.09	1.01	1.16	1.30	1.46	1.62	1.86
Compound Leverage Factor	1.04	1.02	1.04	1.05	1.09	1.01	1.10	1.27	1.49	1.66	1.95
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.07%	23.07%	34.47%	43.90%	56.05%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.03%	19.28%	28.91%	34.06%	47.72%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.04%	3.79%	5.57%	9.84%	8.33%
Preferred Equity to Total Capital	9.80%	6.52%	7.74%	10.18%	7.78%	13.71%	7.07%	0.67%	0.93%	1.54%	2.24%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.20%	93.48%	92.26%	89.82%	92.22%	86.29%	70.86%	76.25%	64.60%	54.56%	41.71%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-1.25	-5.72	-2.59	-0.72	-0.43
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-1.15	-5.34	-2.54	-0.72	-0.43
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.68	-0.94	-0.42	-0.16	-0.06
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.86	-3.57	-3.51	-1.01	-0.60
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.80	-3.34	-3.43	-1.00	-0.60
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.47	-0.59	-0.57	-0.23	-0.09
Altman Z-Score	9.27	65.03	13.35	0.91	2.12	25.78	-0.84	3.21	-0.51	-2.72	-4.12
Noncontrolling Interest Sharing Ratio	7.22%	5.31%	12.28%	15.24%	8.66%	8.99%	8.39%	1.81%	2.67%	5.17%	6.86%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	27.56	160.08	47.45	19.76	8.98	43.43	8.19	4.78	3.38	2.90	2.06
Quick Ratio	1.49	2.72	0.76	0.19	0.47	0.57	2.32	0.07	0.02	0.01	0.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-18	-32	-26	-19	-5.06	6.10	-11	-273	-191	-156	-72
Operating Cash Flow to CapEx	-86,884,200.00%	0.00%	0.00%	0.00%	-43,119.41%	0.00%	-76,133.47%	-61,110.86%	-79,206.16%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-50.43	-182.71	0.00	-100.47	-45.28
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-6.01	-1.87	0.00	-1.13	0.30
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-6.02	-1.87	0.00	-1.13	0.30
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.06	0.08	0.12	0.12	0.18	0.20	0.07	0.13	0.23	0.26
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	123.80	155.79	202.64	230.67	454.15	684.86	1,011.92	1,375.51	1,510.29	1,750.31	1,780.95
Accounts Payable Turnover	5.46	12.87	3.09	5.31	49.84	61.50	61.85	59.53	265.79	202.15	121.28
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	66.85	28.37	117.94	68.78	7.32	5.94	5.90	6.13	1.37	1.81	3.01
Cash Conversion Cycle (CCC)	-66.85	-28.37	-117.94	-68.78	-7.32	-5.94	-5.90	-6.13	-1.37	-1.81	-3.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25	39	33	25	32	20	39	292	211	128	88
Invested Capital Turnover	0.08	0.06	0.08	0.13	0.14	0.18	0.21	0.07	0.14	0.23	0.26
Increase / (Decrease) in Invested Capital	18	31	25	17	7.31	-18	6.66	267	179	108	49
Enterprise Value (EV)	25	30	24	21	42	32	57	297	197	127	107
Market Capitalization	23	28	22	19	42	30	46	232	124	69	55
Book Value per Share	$1.64	$2.34	$1.95	$1.40	$1.84	$0.88	$1.34	$4.65	$2.93	$1.41	$0.74
Tangible Book Value per Share	$1.64	$2.34	$1.95	$1.40	$1.84	$0.88	$1.34	$4.65	$2.93	$1.41	$0.74
Total Capital	26	39	33	25	34	21	40	293	213	129	88
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	8.80	68	73	56	50
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	4.80	11	12	13	7.36
Net Debt	-1.46	-0.67	-0.54	-0.25	-1.98	-0.27	8.16	63	72	56	49
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	-0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	25	39	32	25	32	20	39	288	211	128	88
Debt-free Net Working Capital (DFNWC)	26	39	33	25	34	20	40	292	212	128	88
Net Working Capital (NWC)	26	39	33	25	34	20	36	236	151	84	46
Net Nonoperating Expense (NNE)	-8.26	-13	6.08	7.83	0.01	5.02	-8.41	-72	74	22	12
Net Nonoperating Obligations (NNO)	-1.46	-0.67	-0.54	-0.25	-1.98	-0.27	8.17	67	72	56	50
Total Depreciation and Amortization (D&A)	0.00	-13	5.94	7.16	0.00	0.00	-8.79	-73	69	0.81	0.89
Debt-free, Cash-free Net Working Capital to Revenue	1,836.10%	2,603.63%	1,961.92%	1,195.24%	783.47%	375.29%	516.81%	2,457.10%	1,277.13%	753.04%	526.58%
Debt-free Net Working Capital to Revenue	1,944.97%	2,648.95%	1,994.35%	1,207.48%	832.02%	380.38%	525.31%	2,495.37%	1,286.38%	754.72%	528.16%
Net Working Capital to Revenue	1,944.97%	2,648.95%	1,994.35%	1,207.48%	832.02%	380.38%	472.13%	2,013.35%	913.46%	496.44%	274.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.50	$0.78	($0.43)	($0.56)	$0.13	($0.86)	$0.18	$1.48	($1.80)	($1.43)	($0.70)
Adjusted Weighted Average Basic Shares Outstanding	14.09M	15.69M	15.76M	16.16M	16.26M	19.97M	21.26M	44.23M	33.19M	48.23M	49.78M
Adjusted Diluted Earnings per Share	$0.47	$0.63	($0.43)	($0.56)	$0.28	($0.86)	$0.14	$1.30	($1.58)	($1.43)	($0.70)
Adjusted Weighted Average Diluted Shares Outstanding	17.55M	19.41M	15.76M	16.16M	16.26M	19.97M	27.94M	50.30M	33.19M	48.23M	49.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.69M	15.71M	16.17M	17.03M	20.09M	21.10M	48.05M	46.84M	49.75M	49.78M	52.47M
Normalized Net Operating Profit after Tax (NOPAT)	-0.66	-0.59	-0.65	-1.21	1.58	-12	-3.17	-4.19	-11	-47	-20
Normalized NOPAT Margin	-202.64%	-131.21%	-115.63%	-163.35%	67.92%	-725.05%	-114.34%	-84.93%	-161.97%	-2,197.31%	-802.90%
Pre Tax Income Margin	2,242.96%	2,715.32%	-1,198.85%	-1,222.99%	96.47%	-1,022.46%	139.89%	1,328.11%	-1,206.32%	-3,220.87%	-1,426.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	18.48	44.83	0.00	-43.68	-20.80
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-20.41	-4.00	0.00	-30.58	-14.56
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	18.47	44.82	0.00	-43.68	-20.80
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-20.41	-4.01	0.00	-30.58	-14.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.04%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-20.03%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

BTCS showed a dramatic rebound in Q1 2026 revenue, but profitability and cash flow remain highly volatile. The company generated $2.15 million in revenue in Q1 2026, up sharply from $1.69 million in Q1 2025. However, a very large $67.8 million other operating expense drove the quarter to a $69.2 million net loss. While the core revenue line improved, the bottom line was weighed down by non-recurring or non-core charges.

From a multi-year perspective, BTCS has been inconsistent. Revenue has generally grown year over year in several recent quarters, but earnings have swung widely between profit and loss. The company posted a strong quarter in Q3 2025, with $65.6 million in net income, but that result was not representative of the broader trend. More recently, Q4 2025 and Q1 2026 returned to large losses, suggesting that earnings quality and consistency remain key concerns.

Q1 2026 revenue increased to $2.15 million, up from $1.69 million in Q1 2025.
Gross profit improved year over year in Q1 2026 to $1.01 million, versus $120,276 in Q1 2025.
Operating expenses outside the large “other operating” line were relatively controlled in Q1 2026, with SG&A, marketing, and R&D totaling under $650,000.
BTCS ended Q1 2026 with $70.1 million in total common equity, indicating a materially larger equity base than a year earlier.
The balance sheet showed $128.4 million in current assets, suggesting meaningful liquidity and asset support.
Q1 2026 operating cash flow was negative at -$1.74 million, but that is smaller than the quarter’s net loss and indicates some non-cash items affected results.
Cash on hand was only $284,631 at the end of Q1 2026, so liquidity depends heavily on other current assets and financing flexibility.
BTCS carried $56.9 million in total liabilities, including $43.8 million of short-term debt.
Shares outstanding have moved around significantly over the last year, which can make per-share results harder to compare cleanly.
The Q1 2026 net loss was very large at $69.2 million, driven by a huge other operating expense of $67.8 million.
Operating cash flow remained negative in Q1 2026, which means the business is still not generating cash from operations.
Q4 2025 also showed a steep loss of $85.6 million, highlighting the volatility in reported earnings.
The company’s retained earnings remained deeply negative at -$242.5 million, reflecting a long history of cumulative losses.

Bottom line: BTCS has shown improving revenue and a larger equity base, but the financial statements still point to a speculative profile. For retail investors, the biggest questions are whether the company can turn its revenue growth into stable operating profits and whether future quarters can avoid the kind of large non-core charges that have recently overwhelmed results.

08/31/26 07:26 AM ETAI Generated. May Contain Errors.

BTCS Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BTCS's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

BTCS's net income appears to be on a downward trend, with a most recent value of -$33.35 million in 2025, rising from -$10.05 million in 2015. The previous period was -$1.27 million in 2024. See where experts think BTCS is headed by visiting BTCS's forecast page.

BTCS's total operating income in 2025 was -$29.89 million, based on the following breakdown:

Total Gross Profit: $2.01 million
Total Operating Expenses: $31.90 million

Over the last 10 years, BTCS's total revenue changed from $506.19 thousand in 2015 to $16.49 million in 2025, a change of 3,158.0%.

BTCS's total liabilities were at $75.22 million at the end of 2025, a 1,671.7% increase from 2024, and a 1,148.8% increase since 2015.

In the past 10 years, BTCS's cash and equivalents has ranged from $52.12 thousand in 2018 to $2.15 million in 2022, and is currently $1.53 million as of their latest financial filing in 2025.

Over the last 10 years, BTCS's book value per share changed from -0.02 in 2015 to 2.93 in 2025, a change of -16,678.5%.

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Financial statements for NASDAQ:BTCS last updated on 8/19/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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BTCS (BTCS) Financials

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BTCS (BTCS) Financials

Annual Income Statements for BTCS

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Quarterly Cash Flow Statements for BTCS

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Quarterly Metrics And Ratios for BTCS

Financials Breakdown Chart

Key Financial Trends

BTCS Financials - Frequently Asked Questions

When does BTCS's financial year end?

How has BTCS's net income changed over the last 10 years?

What is BTCS's operating income?

How has BTCS's revenue changed over the last 10 years?

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How has BTCS's book value per share changed over the last 10 years?

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