Equity Profile

RIOT

Riot Platforms, Inc.

Information TechnologyApplication Software$7.2B

Apr30Thu

Pre-Earnings Brief

UpcomingQ1-2026After Close5:00 PM EDT

Company Snapshot

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

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenues.

-0.32

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its services.

129M

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

RIOT Q1-2026 Earnings Preview

Context

Company Snapshot

Riot Platforms, Inc. is a technology company focused on application software, particularly in the cryptocurrency mining sector. With a market cap of $7 billion, it plays a significant role in the evolving landscape of digital currencies 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 the last quarter, Riot surprised analysts with an EPS of $0.26, significantly beating expectations. However, the stock reacted negatively, dropping by nearly 5% the following day.

Management Promises & Guidance

Commitment to improving operational efficiency.
Focus on expanding their mining capacity.
Plans to enhance software offerings.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Riot's upcoming earnings, expecting a loss but with potential for revenue growth. The consensus is that the company may continue to struggle with profitability.

Bull Case

If Riot can exceed revenue expectations and show signs of operational improvements, it could signal a turnaround, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet revenue targets or shows continued losses, it could lead to further declines in stock price.

Key Metrics to Watch

EPS

-0.32

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenues.

Revenue

129M

Revenue figures will provide insight into the company's sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Riot achieve revenue of at least $129 million this quarter?

Meeting or exceeding this revenue target will be crucial for demonstrating demand and operational effectiveness.

How will management address the expected EPS loss of $-0.32?

Investors will be keen to hear about strategies for improving profitability and managing costs moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Riot's potential for revenue growth given recent improvements in operational efficiency and market demand for cryptocurrency mining.

Supporting Evidence

Riot has a history of surprising analysts with better-than-expected EPS, indicating potential for positive surprises.

The options market is pricing in a significant move, suggesting that investors anticipate volatility and potential for upside.

Recent operational commitments hint at a stronger performance than what consensus estimates reflect.

Key Risk

If revenue comes in below $116 million, it could undermine the bullish narrative and lead to a reassessment of growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on revenue growth and cost management, critical for restoring investor confidence.

Bull Confirmed If

Achieving revenue above $129 million and addressing cost management effectively would confirm the bull case.

Bear Confirmed If

Falling short of the $129 million revenue target or reporting a larger EPS loss than expected would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±19.7%

Historical Avg

±3.7%

Pricing rich

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

Options are pricing ±19.7% while RIOT has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

80.8%

Calls (1.9M)P/C Ratio: 1.31Puts (1.2M)

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 the stock could see a modest decline of around 0.85%, which would indicate a cautious market despite positive news.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors weigh management's commentary.

Miss

Should the company miss expectations, history suggests a potential increase in stock volatility, with an average move of +2.79% following a miss.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on mining capacity expansion plans.
2Details on cost management strategies.
3Insights into market demand for cryptocurrency mining.
4Any commentary on software development initiatives.
5Management's outlook on future profitability.

See the full picture

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

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More Earnings This Week

5 Reports

Brown & Brown, Inc.

Company Snapshot

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

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenues.

-0.32

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its services.

129M

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

RIOT Q1-2026 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

In the last quarter, Riot surprised analysts with an EPS of $0.26, significantly beating expectations. However, the stock reacted negatively, dropping by nearly 5% the following day.

Management Promises & Guidance

Commitment to improving operational efficiency.
Focus on expanding their mining capacity.
Plans to enhance software offerings.

Expectations

Wall Street Expectations

Bull Case

If Riot can exceed revenue expectations and show signs of operational improvements, it could signal a turnaround, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet revenue targets or shows continued losses, it could lead to further declines in stock price.

Key Metrics to Watch

EPS

-0.32

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenues.

Revenue

129M

Revenue figures will provide insight into the company's sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Riot achieve revenue of at least $129 million this quarter?

Meeting or exceeding this revenue target will be crucial for demonstrating demand and operational effectiveness.

How will management address the expected EPS loss of $-0.32?

Investors will be keen to hear about strategies for improving profitability and managing costs moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Riot's potential for revenue growth given recent improvements in operational efficiency and market demand for cryptocurrency mining.

Supporting Evidence

Riot has a history of surprising analysts with better-than-expected EPS, indicating potential for positive surprises.

The options market is pricing in a significant move, suggesting that investors anticipate volatility and potential for upside.

Recent operational commitments hint at a stronger performance than what consensus estimates reflect.

Key Risk

If revenue comes in below $116 million, it could undermine the bullish narrative and lead to a reassessment of growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on revenue growth and cost management, critical for restoring investor confidence.

Bull Confirmed If

Achieving revenue above $129 million and addressing cost management effectively would confirm the bull case.

Bear Confirmed If

Falling short of the $129 million revenue target or reporting a larger EPS loss than expected would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±19.7%

Historical Avg

±3.7%

Pricing rich

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

Options are pricing ±19.7% while RIOT has averaged ±3.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

80.8%

Calls (1.9M)P/C Ratio: 1.31Puts (1.2M)

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 the stock could see a modest decline of around 0.85%, which would indicate a cautious market despite positive news.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors weigh management's commentary.

Miss

Should the company miss expectations, history suggests a potential increase in stock volatility, with an average move of +2.79% following a miss.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on mining capacity expansion plans.
2Details on cost management strategies.
3Insights into market demand for cryptocurrency mining.
4Any commentary on software development initiatives.
5Management's outlook on future profitability.