Monitor for final Q1 results in May 2026 to confirm revenue and EBITDA trends; assess whether the $250M credit facility closes as planned, which would support near-term liquidity despite the dilutive offering.
Price Chart
Executive Summary
TeraWulf reported preliminary Q1 2026 revenue of $30-35M and adjusted EBITDA of $0-3M, while announcing a $800M common stock offering and securing allocations for a $250M revolving credit facility. The capital raise follows weak prior results and signals ongoing funding needs despite operational progress.
Key Financial Metrics
Key Facts
- Preliminary Q1 2026 revenue: $30-35M, below consensus of $37.7M
- Adjusted EBITDA: $0-3M, indicating continued losses
- Announced $800M common stock offering, with $120M greenshoe option
- Secured allocations for $250M revolving credit facility, subject to final documentation
- Cash and restricted cash: $3.1B; total debt: $5.8B as of March 31, 2026
Financial Impact
Dilutive $800M equity raise and $250M debt facility to fund Kentucky data center development
Risk Factors
- Dilution from $800M stock offering
- Failure to close the $250M credit facility
- Continued negative EBITDA and reliance on capital raises
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-043279 |
| Document: tm2611661d4_ex99-2.htm | 0001104659-26-043279 |
| Document: tm2611661d4_ex99-1.htm | 0001104659-26-043279 |
| Document: 0001104659-26-043279-index-headers.html | 0001104659-26-043279 |
| Document: 0001104659-26-043279-index.html | 0001104659-26-043279 |
| Document: 0001104659-26-043279.txt | 0001104659-26-043279 |
| 8-K Data (Synthetic) | 0001104659-26-043279 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | Insider Cluster | $14.82 $14.80 | ▼ −0.14% | ▲ +0.20% | $15.49 (+4.52%) |
Aug 5, 2026 8w ago | 8-K | $18.07 $14.82 | ▼ −17.99% | ▼ −17.38% | $15.49 (−14.28%) |
May 26, 2026 18w ago | 8-K | $25.18 $26.34 | ▲ +4.59% | ▲ +6.54% | $15.49 (−38.48%) |
May 8, 2026 21w ago | 8-K | $23.39 $24.00 | ▼ −2.61% | ▼ −2.58% | $15.49 (+33.78%) |
May 8, 2026 21w ago | Press Release | $23.39 $24.00 | ▼ −2.61% | ▼ −2.58% | $15.49 (+33.78%) |
Apr 30, 2026 22w ago | Press Release | $21.73 $26.40 | ▲ +21.49% | ▲ +16.52% | $15.49 (−28.72%) |
Apr 16, 2026 24w ago | 8-K | $20.64 $24.17 | ▼ −17.10% | ▼ −11.73% | $15.49 (+24.95%) |
Apr 16, 2026 24w ago | 424B5 | $19.31 $23.12 | ▼ −19.73% | ▼ −13.92% | $15.49 (+19.78%) |
Apr 15, 2026 24w ago | 8-K | $19.67 $22.80 | ▼ −15.91% | ▼ −9.87% | $15.49 (+21.25%) |
Apr 14, 2026 24w ago | 8-K | $19.67 $22.80 | ▼ −15.91% | ▼ −9.87% | $15.49 (+21.25%) |
US Market Status
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