TeraWulf Inc. (WULF) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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WULF Revenue Growth
Revenue Breakdown (FY 2024)
WULF's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
WULF Revenue Analysis (2013–2024)
As of May 6, 2026, TeraWulf Inc. (WULF) generated trailing twelve-month (TTM) revenue of $167.6 million, reflecting explosive growth of +86.9% year-over-year. The most recent quarter (Q3 2025) recorded $50.6 million in revenue, up 6.2% sequentially.
Looking at the longer-term picture, WULF's 5-year compound annual growth rate (CAGR) stands at +51.4%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $140.1 million in 2024, representing a new all-time high.
Revenue diversification analysis shows WULF's business is primarily driven by Data Center Hosting (100%). With over half of revenue concentrated in Data Center Hosting, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including MARA, RIOT, and CLSK (+68.0% YoY), WULF has outperformed the peer group in terms of 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 | +86.9% | +51.4% | -54.4% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 CLSK | $766M | +68.0% | +138.0% | 41.6% | |
 CIFR | $224M | - | - | -76.7% | |
 IREN | $501M | - | - | 3.5% |
WULF Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 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% |
Full WULF Stock Analysis
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Start ComparisonWULF — Frequently Asked Questions
Quick answers to the most common questions about buying WULF stock.
Is WULF's revenue growth accelerating or slowing?
WULF revenue is accelerating at +86.9% year-over-year, exceeding the 5-year CAGR of +51.4%. TTM revenue reached $168M. Growth momentum has increased versus prior periods.
What is WULF's long-term revenue growth rate?
TeraWulf Inc.'s 5-year revenue CAGR of +51.4% reflects the sustained expansion pattern. Current YoY growth of +86.9% is above this long-term average.
How is WULF's revenue distributed by segment?
WULF reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.