Business
CleanSpark, Inc. Reports Financial Results for its Third Quarter Ended June 30, 2021
Three-month revenue increased 250% to $11.9 million from one year ago quarter Nine-month revenue increased 176% to $22.3 million from one year ago period SALT
About this update from Cleanspark, Inc.
[{"type":"text","content":"Three-month revenue increased 250% to $11.9 million from one year ago quarter\n Nine-month revenue increased 176% to $22.3 million from one year ago period\n\n\nSALT LAKE CITY, Aug. 17, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the \"Company\"), a clean Bitcoin mining and diversified software and services company, yesterday reported results after the close of the US markets for the three and nine months ended June 30, 2021.\n\n \n \n \n \n \n \n\n \nAugust Bitcoin Run-Rate to Achieve Annualized Revenue of $137M to $154M, with Significant Expansion Anticipated.The Company's Quarterly Report on Form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/.\nAs previously announced, the Company held its third quarter 2021 live virtual earnings presentation and business update for investors and analysts on August 16, 2021, at 1 p.m. PDT/4 p.m. EDT. A recording of the call is available for replay at: \nhttps://globalmeet.webcasts.com/viewer/event.jsp?ei=1486534&tp_key=e7f1f1fab1\nA transcript of the event is available on the Company's website.\nFinancial Highlights\nNine months ended June 30, 2021\nRevenues for the nine months ended June 30, 2021, were $22.3 million, an increase of $14.2 million, or 176%, from $8.1 million for the same prior year period. Net loss for the nine months ended June 30, 2021, was ($16.4) million, or ($0.60) loss per share, compared to a loss of ($16.3) million, or ($2.32) loss per share, for the same prior year period, an improvement of $1.72 per share. Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss for the nine months ended June 30, 2021, of ($2.7) million, or ($0.10) loss per share, compared to a loss of ($4.1) million, or ($0.58) loss per share, for the same prior year period. Adjusted EBITDA after incorporation of non-recurring costs, a non-GAAP term, resulted in a non-GAAP net income for the nine months ended June 30, 2021, of $6.2 million, or $0.23 earnings per share, compared to a net loss of ($3.9) million, or ($0.56) loss per share, for the same prior year period—an improvement of $0.79 per share.Three months ended June 30, 2021\nRevenues for the three months ended June 30, 2021, were $11.9 million, an increase of $8.5 million, or 250%, from $3.4 million for the same pr...