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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Paul Golding | Macquarie | 11 (0%) |
| Reginald Smith | JPMorgan | 11 (18%) |
| John Todaro | Needham | 11 (27%) |
| Nick Giles | B. Riley Securities | 10 (0%) |
| Brett Knoblauch | Cantor Fitzgerald | 8 (13%) |
| Mike Grondahl | Northland Capital Markets | 8 (0%) |
| Greg Lewis | BTIG | 7 (0%) |
| Darren Aftahi | ROTH Capital Partners | 6 (0%) |
| Bill Papanastasiou | KBW | 4 (0%) |
| Joe Flynn | Compass Point Research and Trading | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| B. Riley Securities | 2 | 12 (0%) |
| Macquarie | 1 | 11 (0%) |
| JPMorgan | 1 | 11 (18%) |
| Needham | 1 |
| 11 (27%) |
| Northland Capital Markets | 2 | 9 (0%) |
| BTIG | 2 | 9 (0%) |
| ROTH Capital Partners | 2 | 8 (0%) |
| Cantor Fitzgerald | 1 | 8 (13%) |
Riot Platforms reported Q1 2026 revenue of $167 million (+3.61% YOY) and a net loss of $500 million ($1.44/share) driven by $326.7 million in Bitcoin MTM losses, while launching its data center segment with $33.2 million in revenue including $900,000 in operating lease income at 91% margin from the initial AMD delivery. AMD exercised its 25 MW expansion option, doubling total contracted capacity to 50 MW with $636 million in TCV and $51 million average annual NOI, while management consolidated the Corsicana building design to a single 168 MW standard (up from 112 MW across two buildings) at the same CAPEX, raising total campus capacity to 756 MW. The company funded all growth without equity issuance, reduced mining costs 26% to $44,629/BTC, and grew hash rate to 42.5 EH/s while evaluating over 100 power pipeline opportunities across four growth avenues.
Cloud & AI | Capital Allocation | Capex Investment | Competitive Dynamics | Regulation Policy | Margin | Trade Tariffs | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 12 | 4 | 3 | 1 | 1 | 1 | ||
| 2025Q1 | 11 | 4 | 4 | 3 | 2 | 2 | 1 | |
| 2025Q2 | 10 | 3 | 2 | 2 | 1 | 1 | ||
| 2025Q3 | 12 | 2 | 4 | 2 | ||||
| 2025Q4 | 6 | 2 | 1 | 2 | 1 | |||
| 2026Q1 | 7 | 2 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 12 | 11 | 10 | 12 | 6 | 7 |
| Capital Allocation | 4 | 4 | 3 | 2 | 2 | 2 |
| Capex Investment | 3 | 4 | 2 | 4 | 1 | 2 |
| Competitive Dynamics | 3 | 2 | 2 | 2 | ||
| Regulation Policy | 1 | 2 | 1 | 1 | ||
| Margin | 1 | 2 | ||||
| Trade Tariffs | 2 | 1 | ||||
| Cost Pressure | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $143M | +80.9% | $0.43 | +26.5% | 132.0% | 95.7% |
| FY2025 Q1 | $161M | +103.5% | $-0.90 | -211.1% | -51.8% | -183.6% |
| FY2025 Q2 | $153M | +118.5% | $0.58 | +281.3% | -63.5% | 143.4% |
| FY2025 Q3 | $180M | +112.6% | $0.26 | +148.1% | -45.5% | 58.0% |
| FY2025 Q4 | $153M | +7.2% | $-1.86 | -532.6% | -89.8% | -452.0% |
| FY2026 Q1 | $167M | +3.6% | $-1.44 | -60.0% | -85.1% | -299.3% |
| FY2026 Q2 | $174M | +13.9% | $-0.68 | -217.2% | -137.4% | -136.1% |
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).
What RIOT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“First, AMD officially exercised a 25-megawatt expansion option, bringing their total contracted footprint at our Rockdale facility to 50 megawatts and validating our ability to execute at institutional scale.”
AMD doubled its contracted data center capacity at Riot's Rockdale facility to 50MW and holds options up to 200MW, signaling strong AMD AI/HPC infrastructure demand and its use of Riot as a build-to-suit landlord.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
RIOT Riot Platforms, Inc. | 6 | +3.6% | |
| 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% | |
| MS Morgan Stanley | 9 | +18.8% | |
| RJF Raymond James Financial | 7 | +12.4% | |
| SCHW Charles Schwab Corporation | 9 | +9.8% |