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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mike Colonnese | H.C. Wainwright | 12 questions · 0% challenging |
| Brian Dobson | Clear Street | 12 questions · 0% challenging |
| Brett Knoblauch | Cantor Fitzgerald | 9 questions · 0% challenging |
| Greg Lewis | BTIG | 8 questions · 0% challenging |
| John Todaro | Needham | 8 questions · 25% challenging |
| Paul Golding | Macquarie | 7 questions · 0% challenging |
| Steve Glagola | KBW | 5 questions · 20% challenging |
| Nick Giles | B. Riley Securities | 5 questions · 0% challenging |
| Jon Hickman | Ladenburg Thalmann | 5 questions · 20% challenging |
| Jim McIlree | Chardan Capital Markets | 5 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Clear Street | 1 analyst | 12 questions · 0% challenging |
| BTIG | 2 analysts | 12 questions · 0% challenging |
| H.C. Wainwright | 1 analyst | 12 questions · 0% challenging |
| Cantor Fitzgerald | 1 analyst | 9 questions · 0% challenging |
| Needham | 1 analyst | 8 questions · 25% challenging |
| Chardan Capital Markets | 2 analysts | 7 questions · 0% challenging |
| KBW | 2 analysts | 7 questions · 14% challenging |
| Macquarie | 1 analyst | 7 questions · 0% challenging |
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Calendar quarter Q1 2026Earnings call May 11, 2026
FY2026 Q2 in brief
CleanSpark's fiscal second quarter of 2026 saw revenue fall approximately 25% year-over-year to $136 million, directly attributable to a slide in the average Bitcoin price to roughly $76,000 from about $94,000 a year earlier, even though Bitcoin production…
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for CleanSpark, Inc. (CLSK), FY2026 Q2: 2/10. Scores: CleanSpark, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: CLSK daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $89M | +68.1% | $-0.25 | +50.0% | -73.5% | -69.6% |
| FY2025 Q1 | $162M | +120.0% | $0.83 | +492.9% | 129.4% | 152.1% |
| FY2025 Q2 | $182M | +62.5% | $-0.49 | -184.5% | -76.0% | -76.4% |
| FY2025 Q3 | $199M | +90.8% | $0.77 | +174.8% | 123.9% | 129.6% |
| FY2025 Q4 | $224M | +150.5% | $-0.00 | +98.2% | 0.4% | -0.4% |
| FY2026 Q1 | $181M | +11.6% | $-1.33 | -260.2% | -174.7% | -209.0% |
| FY2026 Q2Selected | $136M | -24.9% | $-1.52 | -210.2% | -253.4% | -277.4% |
| FY2026 Q3 | $138M | -30.5% | $-0.89 | -215.6% | -168.4% | -173.8% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
CleanSpark's fiscal second quarter of 2026 saw revenue fall approximately 25% year-over-year to $136 million, directly attributable to a slide in the average Bitcoin price to roughly $76,000 from about $94,000 a year earlier, even though Bitcoin production declined only about 7%. The company posted a GAAP net loss of approximately $378 million, essentially flat with the prior quarter, driven almost entirely by roughly $263 million of non-cash mark-to-market charges on its Bitcoin holdings, while adjusted EBITDA was negative $241 million. Operationally, margins proved resilient, with gross margin holding above 40% on more favorable power costs, and the balance sheet stayed strong at nearly $1.2 billion of liquidity with no need to sell Bitcoin. The quarter's story was CleanSpark's continued pivot toward AI and HPC data center development, anchored by 1.8 gigawatts of contracted capacity, a Houston-area hub, and advanced negotiations with a lead prospective tenant at its energized Sandersville site. Analysts pressed almost entirely on the timing and structure of a first AI lease, portfolio-level tenant demand, power acquisition, and construction labor, with little focus on the quarter's headline mining loss.
Capex Investment | Capital Allocation | Cloud & AI | Competitive Dynamics | Geographic Expansion | Demand | Regulation Policy | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 3 | 1 | 1 | |||
| 2025Q1 | 5 | 3 | 2 | 2 | 2 | 1 | ||
| 2025Q2 | 1 | 4 | 1 | |||||
| 2025Q3 | 4 | 6 | 2 | |||||
| 2025Q4 | 8 | 1 | 6 | 1 | 2 | 1 | ||
| 2026Q1 | 2 | 3 | 4 | 1 | 2 | 2 | 1 | 3 |
| 2026Q2 | 2 | 8 | 1 | 2 | 5 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Capex Investment | 4 | 5 | 1 | 4 | 8 | 2 | 2 |
| Capital Allocation | 3 | 3 | 4 | 6 | 1 | 3 | |
| Cloud & AI | 6 | 4 | 8 | ||||
| Competitive Dynamics | 3 | 2 | 1 | 2 | 1 | 1 | 1 |
| Geographic Expansion | 1 | 2 | 2 | 2 | 2 | ||
| Demand | 1 | 2 | 5 | ||||
| Regulation Policy | 1 | 2 | 1 | 1 | |||
| Cost Pressure | 1 | 3 | 1 |
GAAP revenue YoY -24.9% → base 2. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What CLSK and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We've engaged with, as I mentioned, McKinsey and a couple of others, Accenture to assist us in that road map going forward.”
CleanSpark has engaged Accenture (alongside McKinsey) to help build out its data center construction and labor roadmap, a signal on Accenture winning AI infrastructure advisory work.
“we've already been in market with ERCOT, we've already been in market with CenterPoint.”
CleanSpark is procuring large-scale grid power and interconnection in CenterPoint Energy's Houston-area territory for its Sealy and Brazoria data center sites (nearly 900 megawatts combined), a signal on major new industrial load demand for the utility.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CLSK CleanSpark, Inc. | 2 | -24.9% | |
| BMNR Bitmine Immersion Technologies, Inc. | 6 | +627.6% | |
| CRCL Circle Internet Group | 7 | +20.0% | |
| FIGR Figure Technology Solutions, Inc. Class A Common Stock | 9 | +201.4% | |
| GS The Goldman Sachs Group, Inc. | 7 | +13.9% | |
| HOOD Robinhood Markets, Inc. | 8 | +15.1% | |
| MARA Marathon Digital Holdings, Inc. | 2 | -18.4% | |
| MS Morgan Stanley | 9 | +18.8% | |
| RIOT Riot Platforms, Inc. | 6 | +3.6% | |
| RJF Raymond James Financial | 7 | +12.4% | |
| SCHW Charles Schwab Corporation | 9 | +9.8% |