Summary by Futu AI
On March 6, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol WULF, released preliminary financial results for the full year of 2023 and provided financial guidance for 2024. The company, which operates environmentally clean bitcoin mining facilities in the United States, expects to report significant growth in revenue, gross profit, and adjusted EBITDA for 2023 compared to the previous fiscal year. Revenue is anticipated to be around $69.0 million, a substantial increase from $15.0 million in 2022. Gross profit is projected to be approximately $41.0 million, up from $4.0 million, and non-GAAP Adjusted EBITDA is expected to be around $30.0 million, a positive shift from a $(34.2) million loss in 2022. The company also reported a strong liquidity position with cash and cash equivalents...Show More