Bitdeer Technologies Group (BTDR) Income Statement
BTDR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBTDR revenue and net income
Where BTDR's revenue goes
2025Each bar shows an amount and its share of revenue. BTDR kept 10.6% of revenue as net income.
BTDR profit margins
BTDR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +77.3% | +23.0% | +27.2% | — |
| Gross profit | −8.1% | −9.9% | — | — |
| 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.
BTDR quarterly EPS vs estimates
Bitdeer Technologies beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 9, 2026 (estimate $-0.33).
BTDR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $620.3M | $349.8M | $368.6M | $333.3M | $394.7M | $186.4M | $88.8M |
| Cost of revenue | $559.3M | $283.4M | $290.7M | $250.1M | $153.3M | $209.6M | $98.8M |
| Gross profit | $61.0M | $66.4M | $77.8M | $83.3M | $241.4M | −$23.2M | −$10.1M |
| Research & development | $153.9M | $76.9M | $29.5M | $35.4M | $29.5M | $9.8M | $4.7M |
| Sales, general & admin | $91.1M | $72.4M | $74.7M | $105.1M | $89.7M | $25.8M | $10.7M |
| Total operating expenses | $245.6M | $155.8M | $134.0M | $140.5M | $110.6M | $40.2M | $21.2M |
| Operating income | −$184.6M | −$89.4M | −$56.2M | −$57.3M | $130.8M | −$63.4M | −$31.3M |
| Interest income | $7.6M | $7.9M | $8.0M | $4.3M | $2.9M | $419,000 | $1.2M |
| Interest expense | $99.3M | $17.9M | $5.4M | $5.4M | $2.6M | $823,000 | $955,000 |
| Income before taxes | $70.8M | −$601.6M | −$51.0M | −$64.8M | $130.9M | −$63.8M | −$30.8M |
| Income taxes | $5.2M | −$2.4M | $5.7M | −$4.4M | $48.2M | −$8.0M | −$2.9M |
| Net income | $65.6M | −$599.2M | −$56.7M | −$60.4M | $82.6M | −$55.8M | −$27.9M |
| EBITDA | $338.3M | −$502.6M | $29.7M | $6.9M | $196.4M | $49.1M | $17.6M |
| EPS (diluted) | −$1.60 | −$0.29 | −$0.52 | −$0.34 | −$0.16 | $0.00 | — |
| Gross margin | 9.8% | 19.0% | 21.1% | 25.0% | 61.2% | −12.4% | −11.3% |
| Operating margin | −29.8% | −25.6% | −15.3% | −17.2% | 33.1% | −34.0% | −35.3% |
| Net margin | 10.6% | −171.3% | −15.4% | −18.1% | 20.9% | −30.0% | −31.4% |
| 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 | $228.8M | $188.9M | $224.8M | $169.7M | $155.6M | $70.1M | $69.0M | $62.0M | $99.2M | $119.5M | $114.8M | $87.3M |
| Cost of revenue | $237.3M | $228.0M | $214.3M | $128.9M | $142.8M | $74.1M | $63.9M | $59.3M | $74.8M | $85.4M | $87.8M | $66.2M |
| Gross profit | −$8.5M | −$39.0M | $10.6M | $40.8M | $12.8M | −$4.0M | $5.1M | $2.8M | $24.4M | $34.1M | $27.0M | $21.1M |
| Research & development | $36.1M | $20.2M | $35.2M | $39.1M | $20.6M | $59.0M | $22.9M | $24.8M | $8.0M | $21.2M | $8.3M | $8.5M |
| Sales, general & admin | $36.6M | $27.5M | $31.1M | $20.1M | $20.1M | $16.7M | $19.6M | $18.1M | $18.0M | $15.0M | $17.1M | $16.8M |
| Total operating expenses | $93.2M | $66.9M | $89.4M | $34.0M | $37.7M | $94.5M | $526.0M | $56.4M | $40.1M | $33.6M | $23.3M | $25.6M |
| Operating income | −$101.7M | −$105.9M | −$78.8M | $6.9M | −$24.9M | −$98.5M | −$520.9M | −$53.6M | −$15.7M | $501,000 | $3.7M | −$4.5M |
| Interest income | $1.4M | — | — | — | $1.1M | — | — | — | — | — | — | — |
| Interest expense | $32.5M | $29.5M | $36.4M | $29.4M | $13.7M | $9.3M | — | $231,000 | $44,000 | — | — | — |
| Income before taxes | −$102.4M | −$162.9M | $72.9M | −$261.1M | −$147.9M | $98.7M | −$532.7M | −$53.8M | −$15.7M | $652,000 | $4.9M | −$3.3M |
| Income taxes | −$10.1M | −$3.4M | $2.4M | $5.6M | −$197,000 | −$6.6M | $761,000 | −$3.7M | $2.0M | $46,000 | $9.9M | −$1.5M |
| Net income | −$92.3M | −$159.5M | $70.5M | −$266.7M | −$147.7M | $105.3M | −$531.9M | −$50.1M | −$17.7M | $606,000 | −$5.0M | −$1.8M |
| EBITDA | $5.4M | −$133.4M | $275.9M | −$190.4M | $402.7M | $129.4M | −$495.8M | −$38.9M | −$237,000 | −$1.9M | $12.6M | −$5.3M |
| EPS (diluted) | −$0.37 | −$0.46 | −$0.31 | −$0.16 | −$0.76 | −$0.37 | −$0.22 | −$0.18 | $0.04 | $0.07 | −$0.05 | −$0.02 |
| Gross margin | −3.7% | −20.7% | 4.7% | 24.1% | 8.2% | −5.7% | 7.4% | 4.5% | 24.6% | 28.6% | 23.5% | 24.2% |
| Operating margin | −44.5% | −56.1% | −35.1% | 4.0% | −16.0% | −140.4% | −754.7% | −86.4% | −15.8% | 0.4% | 3.3% | −5.1% |
| Net margin | −40.3% | −84.4% | 31.4% | −157.1% | −95.0% | 150.2% | −770.7% | −80.8% | −17.9% | 0.5% | −4.4% | −2.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BTDR's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BTDR financial results
In fiscal year 2025 (ended December 31, 2025), Bitdeer Technologies reported revenue of $620.3 million, up 77.3% from the year before. It had net income of $65.6 million, a net profit margin of 10.6%. Diluted earnings per share came to −$1.60. Over five years revenue grew at an average rate of 27.2% a year.
See the BTDR stock overview for the latest quote and news, or the BTDR chart for price history and technical indicators.
BTDR income statement FAQ
What is Bitdeer Technologies's annual revenue?
Bitdeer Technologies reported total revenue of $620.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 77.3% from $349.8 million the previous year.
Is Bitdeer Technologies profitable?
Yes. Bitdeer Technologies reported net income of $65.6 million in fiscal 2025, a net profit margin of 10.6%; its operating margin was −29.8%.
What is Bitdeer Technologies's gross margin?
Bitdeer Technologies's gross margin was 9.8% in fiscal 2025: for every $100 of revenue, Bitdeer Technologies kept $10 after the direct cost of its products and services.
How much does Bitdeer Technologies spend on research and development?
Bitdeer Technologies spent $153.9 million on research and development in fiscal 2025, 24.8% of revenue.
How fast is Bitdeer Technologies growing?
Revenue grew 27.2% a year on average over the last five fiscal years, from $186.4 million to $620.3 million.
What are Bitdeer Technologies's earnings per share?
Bitdeer Technologies earned $-1.60 per diluted share in fiscal 2025, compared with $-0.29 a year earlier.
When will Bitdeer Technologies report its next earnings?
Bitdeer Technologies is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 before the market opens.
When does Bitdeer Technologies's fiscal year end?
Bitdeer Technologies's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.