Cipher Mining (NASDAQ:CIFR) First Quarter 2024 Results

Key Financial Results

• Revenue: US$48.1m (up 120% from 1Q 2023).

• Net income: US$39.9m (up from US$6.60m loss in 1Q 2023).

• Profit margin: 83% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue.

• EPS: US$0.14 (up from US$0.027 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cipher Mining Earnings Insights

Looking ahead, revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

Be aware that Cipher Mining is showing 3 warning signs in our investment analysis and 2 of those don't sit too well with us...

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