TeraWulf Inc. (WULF) stock
WULFNasdaqFinance ServicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 2/30221% above fair value
$12.62−0.42 (-3.22%)
Close on Nov 13, 2026Market cap $6.30BP/E –Yield 0.00%
TeraWulf gross margin
Gross margin is gross profit as a percentage of revenue.
TeraWulf's gross margin for the twelve months ending Sep 30, 2026 was 25.7%. For fiscal 2025 it was 39.2%, against 49.8% the year before. The highest annual figure on record is 53.5% in fiscal 2023.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 39.2% | −10.6 |
| FY2024 | Dec 31, 2024 | 49.8% | −3.6 |
| FY2023 | Dec 31, 2023 | 53.5% | +27.2 |
| FY2022 | Dec 31, 2022 | 26.3% | −2.8 |
| FY2020 | Dec 31, 2020 | 29.1% | −1.6 |
| FY2019 | Dec 31, 2019 | 30.6% | −3.7 |
| FY2018 | Dec 31, 2018 | 34.3% | +1.1 |
| FY2017 | Dec 31, 2017 | 33.2% | −2.3 |
| FY2016 | Dec 31, 2016 | 35.5% | +0.5 |
| FY2015 | Dec 31, 2015 | 35.0% | −1.3 |
| FY2014 | Dec 31, 2014 | 36.3% | −3.4 |
| FY2013 | Dec 31, 2013 | 39.7% | −0.5 |
| FY2012 | Dec 31, 2012 | 40.1% | +0.1 |
| FY2011 | Dec 31, 2011 | 40.0% | −1.2 |
| FY2010 | Dec 31, 2010 | 41.2% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 15.2% | −42.0 |
| Q2 FY2026 | Jun 30, 2026 | 19.9% | −26.3 |
| Q1 FY2026 | Mar 31, 2026 | 60.1% | +39.9 |
| Q4 FY2025 | Dec 31, 2025 | 22.6% | −13.5 |
| Q3 FY2025 | Sep 30, 2025 | 57.2% | +17.3 |
| Q2 FY2025 | Jun 30, 2025 | 46.2% | −14.6 |
| Q1 FY2025 | Mar 31, 2025 | 20.2% | −45.8 |
| Q4 FY2024 | Dec 31, 2024 | 36.1% | −4.5 |
| Q3 FY2024 | Sep 30, 2024 | 40.0% | −16.4 |
| Q2 FY2024 | Jun 30, 2024 | 60.9% | −6.0 |
| Q1 FY2024 | Mar 31, 2024 | 66.0% | +9.4 |
| Q4 FY2023 | Dec 31, 2023 | 40.6% | −4.2 |
| Q3 FY2023 | Sep 30, 2023 | 56.4% | +90.5 |
| Q2 FY2023 | Jun 30, 2023 | 66.9% | +9.6 |
| Q1 FY2023 | Mar 31, 2023 | 56.6% | −28.6 |
| Q4 FY2022 | Dec 31, 2022 | 44.8% | +11.5 |
| Q3 FY2022 | Sep 30, 2022 | -34.1% | −67.7 |
| Q2 FY2022 | Jun 30, 2022 | 57.3% | +24.9 |
| Q1 FY2022 | Mar 31, 2022 | 85.3% | +49.9 |
| Q3 FY2021 | Sep 30, 2021 | 33.4% | +5.5 |
| Q2 FY2021 | Jun 30, 2021 | 33.6% | +18.7 |
| Q1 FY2021 | Mar 31, 2021 | 32.4% | −0.6 |
| Q4 FY2020 | Dec 31, 2020 | 35.3% | +4.1 |
| Q3 FY2020 | Sep 30, 2020 | 27.9% | −3.3 |
| Q2 FY2020 | Jun 30, 2020 | 15.0% | −16.1 |
| Q1 FY2020 | Mar 31, 2020 | 33.0% | +4.4 |
| Q4 FY2019 | Dec 31, 2019 | 31.2% | −3.9 |
| Q3 FY2019 | Sep 30, 2019 | 31.2% | −1.7 |
| Q2 FY2019 | Jun 30, 2019 | 31.1% | −4.8 |
| Q1 FY2019 | Mar 31, 2019 | 28.6% | −4.9 |
| Q4 FY2018 | Dec 31, 2018 | 35.1% | −2.8 |
| Q3 FY2018 | Sep 30, 2018 | 32.8% | −0.4 |
| Q2 FY2018 | Jun 30, 2018 | 35.9% | +5.1 |
| Q1 FY2018 | Mar 31, 2018 | 33.5% | +3.4 |
| Q4 FY2017 | Dec 31, 2017 | 37.9% | +1.0 |
| Q3 FY2017 | Sep 30, 2017 | 33.2% | – |
| Q2 FY2017 | Jun 30, 2017 | 30.8% | – |
| Q1 FY2017 | Mar 31, 2017 | 30.0% | – |
| Q4 FY2016 | Dec 31, 2016 | 36.8% | – |
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