TeraWulf Inc. (WULF) Revenue History
Annual and quarterly revenue from 2000 to present
WULF Revenue Over Time (2000–2025)
WULF Revenue Growth History
13 of 19 years with positive growth- FY2000 revenue growth
- N/A
- FY2004 revenue growth
- +32.0%
- FY2005 revenue growth
- +2.1%
- FY2006 revenue growth
- +6.6%
- FY2007 revenue growth
- +6.3%
- FY2009 revenue growth
- -4.4%
- FY2010 revenue growth
- +9.2%
- FY2012 revenue growth
- +4.8%
- FY2013 revenue growth
- +1.0%
- FY2014 revenue growth
- +5.7%
- FY2015 revenue growth
- -5.0%
- FY2016 revenue growth
- +0.0%
- FY2017 revenue growth
- -1.9%
- FY2018 revenue growth
- +5.6%
- FY2019 revenue growth
- -3.3%
- FY2020 revenue growth
- -23.8%
- FY2021 revenue growth
- -100.0%
- FY2022 revenue growth
- N/A
- FY2023 revenue growth
- +360.5%
- FY2024 revenue growth
- +102.3%
- FY2025 revenue growth
- +20.3%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $34.0M | — |
| Q4 2025 | $35.8M | — |
| Q3 2025 | $50.6M | — |
| Q2 2025 | $47.6M | — |
| Q1 2025 | $34.4M | — |
| Q4 2024 | $35.0M | — |
| Q3 2024 | $27.1M | — |
| Q2 2024 | $35.6M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2024)
WULF's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
WULF Revenue Analysis (2000–2025)
Current Revenue & Growth
As of June 21, 2026, TeraWulf Inc. (WULF) generated trailing twelve-month (TTM) revenue of $168.1 million, reflecting slight decline in growth of -1.1% year-over-year. The most recent quarter (Q1 2026) recorded $34.0 million in revenue, down 5.1% sequentially.
Historical Growth Trajectory
WULF's 5-year compound annual growth rate (CAGR) stands at +65.8%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +123.8% exceeds the 5-year average, indicating an acceleration in the most recent period. TeraWulf Inc.'s highest annual revenue of $168.5 million was recorded in 2025, an all-time high.
Revenue by Segment
WULF's revenue is primarily driven by Data Center Hosting (100%). With over half of revenue concentrated in Data Center Hosting, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including MARA, RIOT, and CLSK (+37.7% YoY) — WULF has underperformed the peer group in revenue growth. Compare WULF vs MARA →
WULF Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WULFCurrent | $168M | -1.1% | +65.8% | -101.1% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 CLSK | $766M | +37.7% | +138.0% | 41.6% | |
 CIFR | $224M | - | - | -150.7% | |
 IREN | $501M | - | - | 3.5% |
WULF Historical Revenue Data (2000–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $168.5M | - | $85.8M | 50.9% | $-170,309,000 | -101.1% |
| 2024 | $140.1M | - | $77.4M | 55.3% | $-76,216,000 | -54.4% |
| 2023 | $69.2M | - | $41.9M | 60.5% | $-29,421,000 | -42.5% |
| 2022 | $15.0M | - | $4.0M | 26.3% | $-43,745,000 | -291.0% |
| 2021 | $0 | - | $-52,000 | - | $-43,399,000 | - |
| 2020 | $13.4M | - | $3.9M | 29.1% | $-1,421,020 | -10.6% |
| 2019 | $17.6M | - | $5.4M | 30.6% | $-863,680 | -4.9% |
| 2018 | $18.2M | - | $6.3M | 34.3% | $226K | 1.2% |
| 2017 | $17.2M | - | $5.7M | 33.2% | $-464,610 | -2.7% |
| 2016 | $17.6M | - | $6.2M | 35.5% | $-22,000 | -0.1% |
| 2015 | $17.6M | - | $6.1M | 35.0% | $267K | 1.5% |
| 2014 | $18.5M | - | $6.7M | 36.3% | $913K | 4.9% |
| 2013 | $17.5M | - | $6.9M | 39.7% | $920K | 5.3% |
| 2012 | $17.3M | - | $6.9M | 40.1% | $1.0M | 6.0% |
| 2010 | $16.5M | - | $6.8M | 41.2% | $1.5M | 9.3% |
Full Stock Analysis
Deep dive into WULF consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
26+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
WULF — Frequently Asked Questions
Quick answers to the most common questions about buying WULF stock.
Is WULF's revenue growth accelerating or slowing?
WULF revenue growth is slowing. TTM revenue is $168M, up -1.1% year-over-year — below the 5-year CAGR of +65.8%. The deceleration suggests maturing end-markets or increased competition.
What is WULF's revenue history from 2000 to 2026?
TeraWulf Inc. (WULF) revenue history spans 2000 to 2026. TTM revenue as of 2026 is $168M, growing at -1.1% YoY. The 5-year CAGR is +65.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is WULF's long-term revenue growth rate (CAGR)?
TeraWulf Inc.'s 5-year revenue CAGR of +65.8% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -1.1% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for WULF.
Why does WULF's quarterly revenue fluctuate?
WULF quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. TeraWulf Inc.'s revenue data from 2000 to 2026 shows full historical quarterly detail on this page.
How is WULF's revenue distributed by segment?
WULF reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does WULF's revenue compare to industry peers?
TeraWulf Inc. (WULF) with TTM revenue of $168M and -1.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.