Datacentrex Q2 net loss widens as gross margin fell sharply - DTCX News | RalliesDatacentrex Q2 net loss widens as gross margin fell sharply
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DTCX• Outlook
- Company did not provide specific guidance for the current quarter or full year
Q2 results
- U.S. digital asset miner's Q2 revenue was flat yr/yr amid higher power costs
- Company posted a GAAP net loss of $5.5 million as gross margin fell sharply
- Adjusted EBITDA loss improved sequentially, and net cash burn was nearly breakeven
Key details
| Metric | Actual |
|---|
| Q2 Revenue | $1.90 million |
| Q2 Net Loss | $5.50 million |
| Q2 Adjusted EBITDA | -$1.33 million |
| Q2 Operating Expenses | $5.00 million |
Result drivers
- Higher power costs - Co said increased power rates for its mining fleet reduced gross margin and affected earnings
- Digital asset market volatility - Co said continued volatility in digital asset markets weighed on results
- Increased operating expenses - Co reported higher depreciation, amortization, and stock-based compensation drove up operating expenses
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