Bitfarms Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Bitfarms (TSE:BITF) Full Year 2023 Results
Key Financial Results
Revenue: US$146.4m (up 2.8% from FY 2022).
Net loss: US$104.0m (loss narrowed by 56% from FY 2022).
US$0.40 loss per share (improved from US$1.15 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bitfarms Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 93%.
Looking ahead, revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada.
Performance of the Canadian Software industry.
The company's shares are down 15% from a week ago.
Risk Analysis
Before you take the next step you should know about the 3 warning signs for Bitfarms (2 are concerning!) that we have uncovered.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
