Revenue is entirely derived from volatile non-interest income, which surged to $93.1 million in 2026Q3 before collapsing to $0 in 2027Q1, while provision volatility, peaking at $185.7 million in 2026Q4, dominates the earnings profile and drives net income swings.
HIVE Digital Technologies Ltd. (HIVE) annual income statement — 22-year revenue, gross profit & net income history
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 |
|---|
| Net Interest Income | -1.34M | -1.33M | -2.29M | -3.56M | -3.96M | -3.87M | -1.21M | -418.89K | -182.69K | 240.28K | -2.39K | -431.86K | -378K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -75.9K | -7.85K | -60.64K |
| NII Growth % | 30.65% | 42.1% | 35.62% | 10.22% | -2.37% | -218.73% | -189.87% | -129.29% | -176.03% | 10153.72% | 99.45% | -14.25% | - | - | - | - | - | - | - | 100% | -866.91% | 87.06% | - |
| Net Interest Margin % | -0.14% | -0.21% | -0.43% | -1.16% | -2.02% | -0.86% | -0.68% | -1.44% | -0.66% | 0.15% | -0.5% | -289.62% | -249.37% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -80.47% | -15.8% | -706.17% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 239.21K | 468K | 108K | 37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.34M | 1.33M | 2.29M | 3.56M | 3.96M | 3.87M | 1.21M | 418.89K | 182.69K | 122.68K | 470.39K | 539.86K | 414.85K | 387.44K | 320.19K | 395.98K | 276.14K | 202.71K | 129.65K | 113.47K | 75.9K | 7.85K | 60.64K |
| Loan Loss Provision | 329.19M | 358.99M | 87.84M | 73.39M | 51.5M | 43.38M | 15.36M | 20.29M | 24.61M | 2.82M | -470.39K | -539.86K | -414.85K | -387.44K | -320.19K | -395.98K | -276.14K | -202.68K | -129.64K | -113.45K | -75.88K | -7.82K | -60.6K |
| Non-Interest Income | 252.18M | 297.79M | 115.28M | 114.47M | 106.32M | 211.18M | 67.69M | 29.22M | 31.82M | 12.84M | -468K | -108K | -37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Interest Income % | 100.53% | 100.45% | 102.03% | 103.21% | 103.87% | 101.87% | 101.83% | 101.45% | 100.58% | 98.16% | 99.49% | 20.01% | 8.92% | - | - | - | - | - | - | - | 0% | 0% | 0% |
| Total Net Revenue | 250.84M | 296.46M | 112.99M | 110.91M | 102.36M | 207.31M | 66.48M | 28.8M | 31.64M | 13.08M | -470.39K | -539.86K | -415K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -75.9K | -7.85K | -60.64K |
| Revenue Growth % | 97.78% | 162.38% | 1.88% | 8.36% | -50.63% | 211.85% | 130.82% | -8.98% | 141.86% | 2881.2% | 12.87% | -30.09% | - | - | - | - | - | - | - | 100% | -866.95% | 87.06% | - |
| Non-Interest Expense | 86.11M | 57.24M | 23.54M | 4.84M | 21.62M | 17.71M | 6.8M | 5.43M | 5.87M | 9.36M | 56.14K | 90.44K | 109.41K | 194.58K | 148.32K | 187.22K | 189.13K | 76.69K | 78.54K | 157.79K | 116.36K | 112.32K | 107.64K |
| Efficiency Ratio | 34.33% | 19.31% | 20.83% | 4.36% | 21.12% | 8.54% | 10.22% | 18.84% | 18.55% | 71.53% | -11.93% | -16.75% | -26.36% | - | - | - | - | - | - | - | -153.31% | -1431.06% | -177.52% |
| Operating Income | -296.76M | -119.77M | 1.61M | 32.69M | 29.23M | 146.23M | 44.32M | 3.09M | 1.16M | 781.63K | -56.14K | -90.44K | -109.41K | -195K | -148K | -187K | -189K | -76.69K | -78.54K | -158K | -116K | -112.35K | -108K |
| Operating Margin % | -118.31% | -40.4% | 1.43% | 29.47% | 28.56% | 70.53% | 66.67% | 10.72% | 3.67% | 5.97% | 11.93% | 16.75% | 26.36% | - | - | - | - | - | - | - | 152.84% | 1431.42% | 178.1% |
| Operating Income Growth % | - | -7529.78% | -95.07% | 11.8% | -80.01% | 229.9% | 1335.63% | 165.7% | 48.66% | 1492.39% | 37.93% | 17.34% | 43.89% | -31.76% | 20.86% | 1.06% | -146.46% | 2.36% | 50.29% | -36.21% | -3.25% | -4.03% | - |
| Pretax Income | -324.01M | -144.58M | 1.61M | 32.69M | -236.13M | 82.04M | 24.3M | -832.08K | -138.03M | -25.57M | -535.13K | -630.18K | -533.37K | -582K | -469K | -582K | -249K | -279.4K | -208.94K | -271K | -192K | -120.2K | -168K |
| Pretax Margin % | -129.17% | -48.77% | 1.43% | 29.47% | -230.7% | 39.57% | 36.55% | -2.89% | -436.22% | -195.44% | 113.76% | 116.73% | 128.52% | - | - | - | - | - | - | - | 252.98% | 1531.43% | 277.05% |
| Income Tax | 3.22M | 3.87M | 4.61M | 6.18M | 289K | 2.42M | 151.37K | 830.74K | -227K | 227K | 0 | 0 | 0 | -184K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.99% | -2.67% | 285.86% | 18.92% | -0.12% | 2.94% | 0.62% | -99.84% | 0.16% | -0.89% | 0% | 0% | 0% | 31.62% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -327.23M | -148.45M | -3M | 26.5M | -236.42M | 79.62M | 24.14M | -1.66M | -137.8M | -26.24M | -535.13K | -630.18K | -533.37K | -582K | -469K | -583K | -249K | -279.4K | -208.19K | -271K | -192K | -120.2K | -168K |
| Net Margin % | -130.45% | -50.07% | -2.65% | 23.89% | -230.98% | 38.41% | 36.32% | -5.77% | -435.51% | -200.59% | 113.76% | 116.73% | 128.52% | - | - | - | - | - | - | - | 252.98% | 1531.43% | 277.05% |
| Net Income Growth % | -1237.72% | -4854.87% | -111.31% | 111.21% | -396.93% | 229.78% | 1552% | 98.79% | -425.11% | -4803.9% | 15.08% | -18.15% | 8.36% | -24.09% | 19.55% | -134.14% | 10.88% | -34.2% | 23.18% | -41.15% | -59.73% | 28.45% | - |
| Net Income (Continuing) | -327.23M | -148.45M | -3M | 26.5M | -236.42M | 79.62M | 24.14M | -1.66M | -137.8M | -25.8M | -535.13K | -630.18K | -533.37K | -583K | -469K | -582K | -249K | -279.4K | -208.94K | -271K | -192K | -120.2K | -168K |
| EPS (Diluted) | -1.23 | -0.66 | -0.02 | 0.29 | -2.85 | 0.94 | 0.33 | -0.05 | -2.19 | -0.68 | -0.06 | -0.10 | -0.09 | -0.14 | -0.23 | -0.95 | -0.99 | -1.12 | -0.83 | -1.08 | -0.76 | -0.48 | -0.67 |
| EPS Growth % | -1193.5% | -2720.51% | -108.07% | 110.18% | -403.19% | 184.85% | 760% | 97.72% | -222.06% | -1105.67% | 43.6% | -16.55% | 38.71% | 39.13% | 75.79% | 4.04% | 11.61% | -34.94% | 23.15% | -42.11% | -58.33% | 28.36% | - |
| EPS (Basic) | - | -0.66 | -0.02 | 0.29 | -2.85 | 1.02 | 0.35 | -0.03 | -2.19 | -0.68 | -0.06 | -0.10 | -0.09 | -0.14 | -0.23 | -0.95 | -0.99 | -1.12 | -0.83 | -1.08 | -0.76 | -0.48 | -0.67 |
| Diluted Shares Outstanding | 266.25M | 225.42M | 127.94M | 90.01M | 82.87M | 84.81M | 73.29M | 65.38M | 62.92M | 38.21M | 9.48M | 6.29M | 6.22M | 4.2M | 2.02M | 613.75K | 251.47K | 251.48K | 251.48K | 251.48K | 251.48K | 251.48K | 251.48K |
Quick answers to the most common questions about buying HIVE stock.
For fiscal year 2026, HIVE Digital Technologies Ltd. (HIVE) reported total revenue of $296.5M.
HIVE Digital Technologies Ltd. (HIVE) reported a net loss of $148.4M for the fiscal year ending 2026.
HIVE Digital Technologies Ltd. (HIVE) reported an operating income of $-119.8M, resulting in an operating profit margin of -40.2%. This margin reflects the operational efficiency of the business before interest and taxes.
HIVE Digital Technologies Ltd. (HIVE) generated $-62.5M in gross profit for the year, representing a gross profit margin of -21.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Extreme volatility in revenue and earnings
Metrics are mathematically derived from official filings.
Net Interest Income Reflects Non-Bank Structure
HIVE's net interest income is persistently negative and minimal, ranging from negative $997K to negative $288K over the past ten quarters, indicating this is not a core earnings driver for the company, as reported in its financial statements.
The negligible and consistently negative NII confirms that HIVE is not operating as a traditional bank but rather as a technology company with a financial label, where revenue is driven by non-interest sources. The negative NII suggests the company's cash and interest-bearing assets generate yields below its cost of capital or that it incurs net financing costs. This structural reality means traditional bank metrics like NIM are not meaningful for evaluating HIVE's core operating performance.
2027Q1 Signals Potentially Severe Deterioration
The most concerning inflection point appears in 2027Q1, where total revenue and all key line items show $0, resulting in a net loss of $143.8M and EPS of -$0.54, a sharp reversal from the prior quarter's $71.8M revenue.
The complete absence of revenue and core income metrics in the most recent quarter, coupled with a massive net loss, represents the most material negative inflection in the provided data. This drastic change suggests a potential operational disruption, significant accounting adjustment, or a fundamental shift in the company's business model that has completely halted its revenue generation. The pattern contrasts starkly with the sequential revenue growth observed from 2025Q3 through 2026Q3, warranting immediate investigation into the company's filings for an explanation of this abrupt collapse.
Provision Volatility Dominates Earnings Profile
Provision for loan losses has been highly erratic, spiking to $185.7M in 2026Q4 from $60.7M in 2026Q3, demonstrating that credit costs are the primary driver of quarterly net income swings for HIVE.
The provision expense, which is the largest single variable on the income statement, appears to correlate with the company's revenue volatility rather than a traditional credit cycle. The massive Q4 2026 provision completely erased the non-interest income for that period and led to a net loss. This suggests HIVE's 'provision' may relate to asset impairments, write-downs, or valuation adjustments on its digital asset holdings rather than traditional loan losses, making its earnings highly unpredictable and risk-sensitive.
Non-Interest Income is Entirely Revenue Source
Non-interest income constitutes 100% of HIVE's total revenue across all reported periods, with a high of $93.1M in 2026Q3, confirming the company is entirely dependent on this single, volatile revenue stream.
As a non-bank entity labeled for reporting, all of HIVE's revenue is classified as non-interest income, which based on its sector likely derives from digital asset mining, staking, or related services. The quality of this income is inherently cyclical and tied to cryptocurrency prices and network difficulty, not recurring fee streams like wealth management. The complete absence of any other revenue source means HIVE has no diversification in its top line, concentrating all operating risk into the performance of the digital asset market.
Structural Losses and Model Sustainability Questions
The strongest challenge to HIVE's earnings quality is its persistent operating losses and negative equity implied by repeated net losses, culminating in the zero-revenue 2027Q1, which questions the sustainability of its current operating model.
Over the ten quarters, HIVE has reported a net loss in six periods, and its most recent quarter shows a complete halt in revenue generation. The efficiency ratio is meaningless given negative revenue periods, but when positive, it still resulted in losses after provisions. This pattern suggests the company has not achieved a scalable, profitable operating model. The extreme volatility in revenue and provision expenses makes any projection of future earnings highly speculative, and the company's ability to continue as a going concern may depend on capital raises or asset sales rather than operational cash flow.