BTCS Inc. (BTCS) Income Statement
BTCS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBTCS revenue and net income
Where BTCS's revenue goes
2025Each bar shows an amount and its share of revenue. BTCS kept −202.2% of revenue as net income.
BTCS profit margins
BTCS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +304.8% | +113.6% | +196.0% | +41.7% |
| Gross profit | +112.5% | +16.7% | — | +25.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BTCS quarterly EPS vs estimates
BTCS beat the analyst EPS estimate in 2 of the last 7 quarters. Next report: November 12, 2026.
BTCS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.5M | $4.1M | $1.3M | $1.7M | $1.2M | $72,524 | $0 | $0 | $4,480 | $355,212 |
| Cost of revenue | $14.5M | $3.1M | $359,778 | $426,440 | $268,346 | $1,114 | $1,359 | $0 | $160 | $263,869 |
| Gross profit | $2.0M | $946,009 | $979,850 | $1.3M | $944,938 | −$1,114 | −$1,359 | $0 | $4,320 | $91,343 |
| Research & development | $679,434 | $755,813 | $687,288 | $611,758 | $712,736 | $45,450 | — | — | — | — |
| Sales, general & admin | $3.8M | $8.4M | $4.0M | $5.3M | $17.4M | $1.9M | $1.4M | $990,169 | $1.6M | $1.3M |
| Total operating expenses | $8.0M | $9.1M | $4.7M | $5.9M | $18.1M | $2.0M | $1.4M | $990,169 | $1.6M | $1.5M |
| Operating income | −$6.0M | −$8.2M | −$3.7M | −$4.7M | −$17.1M | −$2.0M | −$1.4M | −$990,169 | −$1.6M | −$1.5M |
| Interest expense | $3.5M | $0 | — | $11.2M | $2.1M | $402,663 | $86,142 | $163,749 | $44.2M | $7,420 |
| Income before taxes | −$33.4M | −$1.3M | $7.8M | −$15.9M | −$16.0M | −$2.6M | −$1.6M | −$826,420 | −$45.5M | −$44.3M |
| Income taxes | — | — | −$3 | $11.2M | $2.1M | $402,663 | $86,142 | −$327,498 | $24.0M | $44.9M |
| Net income | −$33.4M | −$1.3M | $7.8M | −$15.9M | −$16.0M | −$2.6M | −$1.6M | −$826,420 | −$45.5M | −$44.3M |
| EBITDA | −$6.0M | −$8.2M | −$3.7M | −$4.6M | −$14.0M | −$2.2M | −$1.6M | −$989,039 | −$1.6M | −$44.1M |
| EPS (diluted) | −$0.12 | −$1.69 | $0.55 | −$0.39 | −$1.78 | −$0.09 | −$0.10 | −$0.81 | −$1.85 | −$1141.41 |
| Gross margin | 12.2% | 23.2% | 73.1% | 74.8% | 77.9% | −1.5% | — | — | 96.4% | 25.7% |
| Operating margin | −36.4% | −200.4% | −277.1% | −275.0% | −1,411.2% | −2,738.7% | — | — | −35,039.6% | −410.0% |
| Net margin | −202.2% | −31.2% | 583.6% | −936.9% | −1,322.8% | −3,524.5% | — | — | −1,014,834.1% | −12,461.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4M | $2.1M | $7.1M | $4.9M | $2.8M | $1.7M | $2.3M | $739,157 | $561,192 | $385,773 | $326,125 | $316,242 |
| Cost of revenue | $952,273 | $1.1M | $6.2M | $3.9M | $2.9M | $1.6M | $2.3M | $543,308 | $168,848 | $96,507 | $82,564 | $83,100 |
| Gross profit | $1.5M | $1.0M | $879,072 | $1.1M | −$80,935 | $120,276 | $67,055 | $195,849 | $392,344 | $289,266 | $243,561 | $233,142 |
| Research & development | $82,056 | $80,444 | $131,048 | $145,592 | $193,543 | $209,251 | $232,155 | $213,332 | $163,777 | $146,549 | $156,235 | $148,525 |
| Sales, general & admin | $769,872 | $566,553 | $1.8M | $1.8M | $1.5M | $1.5M | $4.4M | $642,537 | $1.4M | $999,485 | $1.0M | $695,354 |
| Total operating expenses | $3.2M | $3.4M | $2.0M | $2.7M | $1.7M | $1.7M | $4.6M | $1.4M | $1.6M | $1.1M | $1.2M | $843,879 |
| Operating income | −$1.7M | −$2.4M | −$1.1M | −$1.6M | −$1.8M | −$1.6M | −$4.5M | −$1.2M | −$1.2M | −$856,770 | −$944,070 | −$610,737 |
| Interest income | — | — | — | $0 | $3,569 | — | — | $0 | $0 | — | — | — |
| Interest expense | $1.6M | $1.5M | $1.8M | $1.5M | $221,894 | $0 | — | $0 | $0 | — | $367,014 | — |
| Income before taxes | −$34.9M | −$69.2M | −$85.6M | $65.6M | $3.9M | −$17.3M | $2.2M | −$9.0M | −$6.7M | $12.3M | $10.9M | −$3.3M |
| Income taxes | — | — | — | — | — | — | $5 | — | −$5 | −$5 | −$2 | $29,334 |
| Net income | −$34.9M | −$69.2M | −$85.6M | $65.6M | $3.9M | −$17.3M | $2.2M | −$9.0M | −$6.7M | $12.3M | $10.9M | −$3.3M |
| EBITDA | −$1.7M | −$2.4M | −$83.8M | −$1.6M | $4.1M | −$1.6M | −$4.5M | −$1.6M | −$1.2M | −$855,273 | −$942,559 | −$609,534 |
| EPS (diluted) | −$0.07 | −$0.08 | −$1.83 | $1.30 | $0.55 | −$0.14 | −$0.28 | −$0.56 | −$0.81 | −$0.04 | $0.77 | −$0.04 |
| Gross margin | 61.1% | 47.2% | 12.4% | 22.0% | −2.9% | 7.1% | 2.9% | 26.5% | 69.9% | 75.0% | 74.7% | 73.7% |
| Operating margin | −71.5% | −113.0% | −15.4% | −31.9% | −63.1% | −93.6% | −193.3% | −159.8% | −216.4% | −222.1% | −289.5% | −193.1% |
| Net margin | −1,426.7% | −3,220.9% | −1,207.0% | 1,328.1% | 140.0% | −1,022.5% | 96.5% | −1,223.0% | −1,198.9% | 3,177.1% | 3,339.4% | −1,038.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BTCS's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BTCS financial results
In fiscal year 2025 (ended December 31, 2025), BTCS reported revenue of $16.5 million, up 304.8% from the year before. It had a net loss of $33.4 million, a net profit margin of −202.2%. Diluted earnings per share came to −$0.12. Over five years revenue grew at an average rate of 196.0% a year.
See the BTCS stock overview for the latest quote and news, or the BTCS chart for price history and technical indicators.
BTCS income statement FAQ
What is BTCS's annual revenue?
BTCS reported total revenue of $16.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 304.8% from $4.1 million the previous year.
Is BTCS profitable?
No. BTCS reported a net loss of $33.4 million in fiscal 2025, a net profit margin of −202.2%; its operating margin was −36.4%.
What is BTCS's gross margin?
BTCS's gross margin was 12.2% in fiscal 2025: for every $100 of revenue, BTCS kept $12 after the direct cost of its products and services.
How much does BTCS spend on research and development?
BTCS spent $0.7 million on research and development in fiscal 2025, 4.1% of revenue.
How fast is BTCS growing?
Revenue grew 196.0% a year on average over the last five fiscal years, from $0.1 million to $16.5 million.
What are BTCS's earnings per share?
BTCS earned $-0.12 per diluted share in fiscal 2025, compared with $-1.69 a year earlier.
When will BTCS report its next earnings?
BTCS is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does BTCS's fiscal year end?
BTCS's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.