Business
CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021
CleanSpark Achieves Profitability Three-month revenue increased 122% to $8.1 million from one year ago quarter Six-month revenue increased 124% to $10.4
About this update from Cleanspark, Inc.
[{"type":"text","content":"CleanSpark Achieves Profitability\n Three-month revenue increased 122% to $8.1 million from one year ago quarter\n Six-month revenue increased 124% to $10.4 million from one year ago period\n\n\nSALT LAKE CITY, May 6, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the \"Company\"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the three and six months ended March 31, 2021.\n\n \n \n \n \n \n \n\n \nCleanSpark Reports Net income For Second Quarter of $7.4 million or $0.28 basic earnings per share.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 will be holding its second quarter 2021 live virtual earnings presentation and business update for investors and analysts on May 7, 2021 at 8 a.m. PST/11 a.m. EST.\nTo participate in our virtual meeting, please visit: https://globalmeet.webcasts.com/starthere.jsp?ei=1408452&tp_key=56b26c1000\nThis URL can be used to access the live event or to watch the recorded version. A transcription of the event will be available on our website after the event.\nFinancial Highlights\nThree months ended March 31, 2021\nCleanSpark more than doubled its comparable quarterly revenues, with three-month revenues of $8.1 million, an increase of $4.4 million or 122% from $3.6 million for the same prior year period. Net income for the three months ended March 31, 2021 was $7.4 million or $0.28 basic earnings per share and $0.22 fully-diluted earnings per share compared to a loss of $(5.8) million or $(1.13) basic and diluted earnings per share for the same prior year period, an improvement of $1.41 basic earnings per share and $1.35 fully-diluted earnings per share. Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net income for the three months ended March 31, 2021 of $1.7 million or $0.06 basic earnings per share and $0.05 fully-diluted earnings per share, compared to a loss of $(1.3) million or $(0.26) basic and diluted earnings per share for the same prior year period, an improvement of $0.32 basic earnings per share and $0.31 fully-diluted earnings per share.Six months ended March 31, 2021\nCleanSpark more than doubled it...