TeraWulf Q2 revenue misses expectations
WULF•Outlook and analyst view
TeraWulf reaffirmed its target of contracting 250–500 MW of incremental critical IT capacity annually.
The current average analyst rating on the shares is "buy," with 19 "strong buy" or "buy" recommendations, no "hold" ratings and no "sell" or "strong sell" ratings. The median 12-month price target for TeraWulf Inc. is $35.00, about 85.4% above its August 4 closing price of $18.88.
Capacity expansion and asset moves
The company said additional contracted IT capacity at Lake Mariner increased recurring lease revenue and unlocked $600 mln of Google credit support, according to management.
TeraWulf also said it agreed to monetize its Abernathy JV interest for $530 mln and acquired Muskie Data Campus to support future growth.
Quarterly revenue fell short of estimates
TeraWulf said second-quarter revenue came in below analyst expectations, with HPC lease revenue making up 71% of total Q2 revenue.
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $44.80 mln | $46.39 mln (15 Analysts) |
| Q2 Loss Per Share | $1.94 | ||
| Q2 Net Loss | $940.83 mln | ||
| Q2 Operating Income | -$140.45 mln |
