Equity Profile

RIOT

Riot Platforms, Inc.

Information TechnologyApplication Software$8.4B

Jul30Thu

Pre-Earnings Brief

UpcomingQ4-2025After Close5:00 PM EDT

Company Snapshot

Riot Platforms, Inc. is a technology company focused on application software, particularly in the cryptocurrency sector....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, and investors will be keen to see if Riot can improve its bottom line this quarter.

$-0.32

Revenue

Revenue figures will indicate how well the company is performing in the competitive application software market, especially in the context of cryptocurrency.

$130M

Wall Street expectations, options signals, track record, and call prep available with Pro.

RIOT Q4-2025 Earnings Preview

Context

Company Snapshot

Riot Platforms, Inc. is a technology company focused on application software, particularly in the cryptocurrency sector. With a market cap of $8 billion, it plays a significant role in the evolving landscape of digital assets and blockchain technology.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+106.32%

Avg Stock Reaction

+0.06%

Last Quarter Recap

In Q3-2025, Riot reported an EPS of $0.26, significantly beating expectations of $-0.18. However, the stock fell 4.87% the following day, indicating mixed market reactions despite the positive earnings surprise.

Management Promises & Guidance

Focus on expanding software capabilities.
Commitment to improving operational efficiency.
Plans to enhance user engagement through new features.

Expectations

Wall Street Expectations

Analysts expect a challenging quarter for Riot, with a consensus EPS of $-0.32 and revenue of $130 million. The market will be watching closely for any signs of improvement or further setbacks.

Bull Case

If Riot can exceed revenue expectations and show a path to profitability, it could signal a strong recovery in the cryptocurrency sector, driving investor confidence.

Bear Case

Conversely, if the company misses on both EPS and revenue, it may raise concerns about its long-term viability in a competitive market, leading to further stock declines.

Key Metrics to Watch

EPS

$-0.32

Earnings per share is a critical measure of profitability, and investors will be keen to see if Riot can improve its bottom line this quarter.

Revenue

$130M

Revenue figures will indicate how well the company is performing in the competitive application software market, especially in the context of cryptocurrency.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Riot achieve revenue of at least $130 million this quarter?

This figure is crucial for assessing the company's growth trajectory and market position, especially in a volatile sector.

Can Riot narrow its EPS loss to better than the expected $-0.32?

A smaller loss could indicate improving operational efficiency and provide reassurance to investors about the company's future.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Riot's potential for a revenue surprise, given recent operational improvements and market conditions.

Supporting Evidence

Riot's recent earnings history shows a strong beat rate of 75%, indicating potential for positive surprises.

Options pricing suggests a larger move than historical averages, signaling heightened expectations.

The company's focus on software enhancements could lead to unexpected revenue growth.

Key Risk

If revenue exceeds $130 million, it could challenge the current bearish sentiment and shift investor outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical for determining whether Riot can stabilize its financials and regain investor confidence.

Bull Confirmed If

Achieving revenue of $130 million or more with an EPS loss narrower than $-0.32 would confirm the bull case.

Bear Confirmed If

An EPS loss greater than $-0.32 and revenue below $116 million would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.36%

Historical Avg

±3.7%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.4% while RIOT has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

79.4%

Calls (3.5M)P/C Ratio: 0.29Puts (3.9M)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

73.57%

of float

Insider

6.75%

of float

Holders

522

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
39,910,169 sh · $742.7M
10.53%
0.8%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Riot beats expectations, history suggests a modest positive reaction, with an average 1-day move of -0.85%, confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the market may react cautiously, leading to muted stock movement as investors await further guidance.

Miss

A miss on both EPS and revenue could lead to a more significant decline, with an average 1-day move of +2.79% when missing expectations.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on software enhancements and their impact on user engagement.
2Details on operational efficiency improvements and cost management strategies.
3Insights into market demand for cryptocurrency applications.
4Management's outlook on future revenue growth and profitability.
5Responses to competitive pressures in the application software sector.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Riot Platforms, Inc. is a technology company focused on application software, particularly in the cryptocurrency sector....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, and investors will be keen to see if Riot can improve its bottom line this quarter.

$-0.32

Revenue

Revenue figures will indicate how well the company is performing in the competitive application software market, especially in the context of cryptocurrency.

$130M

Wall Street expectations, options signals, track record, and call prep available with Pro.

RIOT Q4-2025 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+106.32%

Avg Stock Reaction

+0.06%

Last Quarter Recap

Management Promises & Guidance

Focus on expanding software capabilities.
Commitment to improving operational efficiency.
Plans to enhance user engagement through new features.

Expectations

Wall Street Expectations

Analysts expect a challenging quarter for Riot, with a consensus EPS of $-0.32 and revenue of $130 million. The market will be watching closely for any signs of improvement or further setbacks.

Bull Case

If Riot can exceed revenue expectations and show a path to profitability, it could signal a strong recovery in the cryptocurrency sector, driving investor confidence.

Bear Case

Conversely, if the company misses on both EPS and revenue, it may raise concerns about its long-term viability in a competitive market, leading to further stock declines.

Key Metrics to Watch

EPS

$-0.32

Earnings per share is a critical measure of profitability, and investors will be keen to see if Riot can improve its bottom line this quarter.

Revenue

$130M

Revenue figures will indicate how well the company is performing in the competitive application software market, especially in the context of cryptocurrency.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Riot achieve revenue of at least $130 million this quarter?

This figure is crucial for assessing the company's growth trajectory and market position, especially in a volatile sector.

Can Riot narrow its EPS loss to better than the expected $-0.32?

A smaller loss could indicate improving operational efficiency and provide reassurance to investors about the company's future.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Riot's potential for a revenue surprise, given recent operational improvements and market conditions.

Supporting Evidence

Riot's recent earnings history shows a strong beat rate of 75%, indicating potential for positive surprises.

Options pricing suggests a larger move than historical averages, signaling heightened expectations.

The company's focus on software enhancements could lead to unexpected revenue growth.

Key Risk

If revenue exceeds $130 million, it could challenge the current bearish sentiment and shift investor outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical for determining whether Riot can stabilize its financials and regain investor confidence.

Bull Confirmed If

Achieving revenue of $130 million or more with an EPS loss narrower than $-0.32 would confirm the bull case.

Bear Confirmed If

An EPS loss greater than $-0.32 and revenue below $116 million would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±10.36%

Historical Avg

±3.7%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±10.4% while RIOT has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

79.4%

Calls (3.5M)P/C Ratio: 0.29Puts (3.9M)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

73.57%

of float

Insider

6.75%

of float

Holders

522

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
39,910,169 sh · $742.7M
10.53%
0.8%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Riot beats expectations, history suggests a modest positive reaction, with an average 1-day move of -0.85%, confirming a recovery narrative.

In-Line / Cautious

If results are in line with expectations, the market may react cautiously, leading to muted stock movement as investors await further guidance.

Miss

A miss on both EPS and revenue could lead to a more significant decline, with an average 1-day move of +2.79% when missing expectations.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on software enhancements and their impact on user engagement.
2Details on operational efficiency improvements and cost management strategies.
3Insights into market demand for cryptocurrency applications.
4Management's outlook on future revenue growth and profitability.
5Responses to competitive pressures in the application software sector.