# RIOT PLATFORMS, INC. (RIOT) · Edgar & Edgarette company card

> Riot Platforms (RIOT) grew revenue 71.9% in FY2025 to $647 million, operating margin -96.1% against a -6.4% median for finance services, equity 72.6% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1167419 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/RIOT) · [JSON](https://www.pops4.com/boards/company/RIOT.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $647M |
| Revenue growth, 1 year | 71.9% |
| Revenue growth per year | 32.0% |
| Operating margin | -96.1% (prior year 40.8%) |
| Net margin | -102.5% |
| Operating cash flow | −$573M |
| Capital spending | $201M |
| Free cash flow | −$774M |
| Cash | $234M |
| Long-term debt | $841M |
| Total assets | $3.9B |
| Total equity | $2.9B |
| Equity ÷ assets | 72.6% |
| Return on equity | -23.2% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Old boat · three warning signs · operating cash flow was negative; operating loss: a margin of -96.1% in FY2025; revenue is hard to predict: its 80% range is ±25%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $647.4M (FY2025), total debt $840.8M. Experience: revenue up 71.9% on the year, up 32.0% a year over 4 years; operating margin -96.1%, down from 40.8%. Soundness: equity 72.6% of assets, return on equity -23.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $756.5M and $1.3B next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $664.3M to $1.4B. A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin -96.1% against a -6.4% median; growth 71.9% against 16.8%.

Range logged 2026-09-26, receipt c4f4be496ca40a93, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-06-15 ([filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926074070/0001104659-26-074070-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926122417/0001104659-26-122417-index.htm)
- 8-K · filed 2026-11-04 · 1.02 Termination of a Material Definitive Agreement; 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926122368/0001104659-26-122368-index.htm)
- 8-K · filed 2026-10-14 · 1.01 Entry into a Material Definitive Agreement · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926115855/0001104659-26-115855-index.htm)
- 8-K · filed 2026-10-07 · 5.05 Amendments to the Code of Ethics; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926114374/0001104659-26-114374-index.htm)
- 8-K · filed 2026-09-25 · 1.02 Termination of a Material Definitive Agreement · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926111003/0001104659-26-111003-index.htm)
- 8-K · filed 2026-08-14 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation · [filing](https://www.sec.gov/Archives/edgar/data/1167419/000110465926097330/0001104659-26-097330-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001167419.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1167419

## Cite

POPS4, Edgar & Edgarette: RIOT PLATFORMS, INC. (RIOT) company card, from the company's own SEC filings, accessed 2026-11-11, https://www.pops4.com/boards/company/RIOT. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.