The company's revenue remains highly irregular, with a 2025Q4 net margin of -184.8% reflecting an inability to scale operations against a massive $12.0 billion SG&A expense base.
| Sales/Revenue | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | 0 | -58.28K | -105.67K | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | 100% | 44.85% | - | - | - | - | - | - | - |
| Operating Expenses | 240B | 6.27M | 13.37M | 17.9M | 15.64M | 5.65M | 20.86M | 8.74M | 343.88K |
| OpEx % of Revenue | 3665755.31% | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 240M | 4.36M | 10.69M | 15.47M | 11.69M | 3.36M | 18.85M | 7.67M | 343.88K |
| SG&A % of Revenue | 3665.76% | - | - | - | - | - | - | - | - |
| Research & Development | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - |
| Operating Income | -233.45M | -6.32M | -13.48M | -17.9M | -15.64M | -5.65M | -20.86M | -599.08K | -343.88K |
| Operating Margin % | -3565.76% | - | - | - | - | - | - | - | - |
| Operating Income Growth % | -3591.07% | 53.07% | 24.7% | -14.43% | -176.92% | 72.93% | -3382.58% | -74.21% | - |
| EBITDA | -233.45B | -6.13M | -13.37M | -17.79M | -15.53M | -5.52M | -20.79M | -576K | -291.37K |
| EBITDA Margin % | -3565755.31% | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -3805353.54% | 54.12% | 24.83% | -14.54% | -181.22% | 73.44% | -3509.57% | -97.69% | - |
| D&A (Non-Cash Add-back) | 0 | 190.11K | 105.67K | 109K | 109.95K | 125.33K | 72.24K | 23.08K | 52.52K |
| EBIT | 0 | -6.51M | -22.24M | -39.64M | -20.16M | -9.82M | -25.22M | -8.74M | 0 |
| Net Interest Income | 0 | -50.64K | -45 | -26.67K | -186.21K | -1.09M | -181.41K | 12.23K | 0 |
| Interest Income | 0 | 0 | 0 | 1.51K | 0 | 0 | 3.73K | 12.23K | 663.02K |
| Interest Expense | -3.06B | 50.64K | 45 | 28.18K | 186.21K | 1.09M | 185.14K | 0 | 0 |
| Other Income/Expense | - | - | - | - | - | - | - | - | - |
| Pretax Income | -443.53M | -6.46M | -22.28M | -39.67M | -20.35M | -10.9M | -25.4M | 1.45M | 319.13K |
| Pretax Margin % | -6774.57% | - | - | - | - | - | - | - | - |
| Income Tax | 6.99M | -296.02K | -2.35M | -942.75K | -23.2K | -20.43K | -9.5K | 0 | 195.37K |
| Effective Tax Rate % | -1.58% | 4.58% | 10.54% | 2.38% | 0.11% | 0.19% | 0.04% | 0% | 61.22% |
| Net Income | -450.52B | -6.17M | -19.94M | -38.73M | -20.32M | -10.88M | -25.39M | -14.5M | 123.76K |
| Net Margin % | -6881334.96% | - | - | - | - | - | - | - | - |
| Net Income Growth % | -7303857.07% | 69.06% | 48.52% | -90.54% | -86.74% | 57.14% | -75.19% | -11812.16% | - |
| Net Income (Continuing) | -450.52B | -6.17M | -19.94M | -38.73M | -20.32M | -10.88M | -25.39M | -14.5M | 123.76K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -5517.71 | -154.90 | -525.90 | -3871.80 | -2463.20 | -2513.20 | -8744.50 | -14495.40 | 123.80 |
| EPS Growth % | -3462.11% | 70.55% | 86.42% | -57.19% | 1.99% | 71.26% | 39.67% | -11808.72% | - |
| EPS (Basic) | -5517.71 | -154.90 | -526.00 | -3872.60 | -2478.60 | -2554.60 | -8756.60 | -14495.40 | 0.04 |
| Diluted Shares Outstanding | 81.65M | 91.54K | 37.91K | 10K | 8.25K | 4.78K | 5.81K | 4K | 4K |
| Basic Shares Outstanding | 81.65M | 91.54K | 37.9K | 10K | 8.2K | 4.7K | 5.8K | 4K | 4K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Unsustainable Operational Burn Rate
As indicated by the most recent quarterly filings, Ethzilla Corp. reported a significant revenue spike to $2.4 billion in 2025Q4, a stark departure from the zero-revenue periods observed throughout 2024, suggesting that the company's transition toward digital asset management remains highly irregular and project-dependent in nature.
The sudden revenue recognition in the final quarter of 2025 highlights the lack of a predictable, recurring business model. Investors should monitor whether this figure represents sustainable yield generation or merely one-time asset monetization, as the historical absence of revenue suggests the company has yet to establish a repeatable commercial engine.
Based on reported financial statements, Ethzilla Corp. incurred $12.0 billion in SG&A expenses during 2025Q4, which represents a massive expansion in cost structure that dwarfs the company's current revenue generation and raises significant questions regarding the efficiency of its current corporate and operational resource allocation.
The dramatic surge in SG&A suggests that the company is absorbing substantial costs associated with its pivot, potentially linked to professional fees or infrastructure development. This cost trajectory appears disconnected from the current scale of operations, implying that management is prioritizing rapid expansion over immediate expense discipline.
According to recent SEC filings, Ethzilla Corp. recorded $213.2 billion in stock-based compensation during 2025Q4, a figure that significantly distorts the net income of -$450.3 billion and complicates the assessment of the company's underlying operational performance and true economic cost of talent acquisition.
The sheer magnitude of stock-based compensation relative to the reported net loss suggests that equity dilution is a primary mechanism for funding the company's current activities. Analysts should treat reported EPS figures with extreme caution, as they are heavily influenced by non-cash accounting charges that may not reflect the company's actual cash-burn reality.
While the company reports a substantial cash position, the extreme operating margin of -3565.76% observed in recent periods suggests that Ethzilla Corp. is currently burning through capital at a rate that warrants further investigation into the actual liquidity and accessibility of its reported treasury assets.
The disconnect between the massive reported cash reserves and the deep operating losses implies that the company may be struggling to convert its treasury into a self-sustaining operational model. Short-term observers may focus on the risk that these assets are either restricted or illiquid, potentially limiting management's ability to pivot if the current strategy fails to gain traction.
Quick answers to the most common questions about buying ETHZ stock.
Ethzilla Corp. (ETHZ) reported a net loss of $450.52B for the fiscal year ending 2025.
Ethzilla Corp. (ETHZ) reported an operating income of $-233.4M, resulting in an operating profit margin of -3565.8%. This margin reflects the operational efficiency of the business before interest and taxes.