HIVE Digital Technologies Ltd. Q1 FY2027 Earnings Call

· Earnings call transcript and AI-powered summary

HIVE Digital Technologies Fiscal Q1 2027 Earnings Summary

Quarter Ended: June 30, 2026 (Fiscal Q1 2027)

Financial Highlights

  • Revenue: $79.1 million, +73% year-over-year (vs. $45.6M in Q1 FY2026) and +10% quarter-over-quarter (vs. $71.8M in Q4 FY2026). Bitcoin mining contributed $72.1M (90%); HPC/AI contributed $7.1M (10%).
  • Gross Operating Margin: $24.2 million, +53% YoY (vs. $15.8M) and +38% QoQ (vs. $17.5M). Margin as % of revenue: 31% (vs. 35% YoY; improved from 24% QoQ).
  • Earnings from Operations: $15.2 million, +86% QoQ and +50% YoY. Reflects strong scaling in Paraguay despite Bitcoin price volatility.
  • Adjusted EBITDA: $13.4 million (positive; vs. negative $9M in Q4 and $44.6M in prior year quarter). Reported EBITDA was negative $86.3M due to non-cash items.
  • GAAP Net Loss: $142.9 million (vs. net income of $35M YoY), primarily driven by $53.7M depreciation and $84.7M non-cash Swedish VAT tax provision. Basic loss per share: $0.54.
  • Bitcoin Produced: 1,004 BTC equivalent.
  • Cash Position: $208 million (vs. ~$23M at March 31). Total current assets: ~$280M; current liabilities: ~$143M. Liquidity strengthened via $245M in 0% coupon exchangeable notes (April/June) and ATM proceeds.

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Nathan Fast: Hello, and welcome to today's webcast covering HIVE Digital Technologies financial results for fiscal Q1 2027. My name is Nathan Fast, Director of Marketing and Branding at HIVE, and I'll be your moderator for today's call. Before we get started on Slide 2, I'd like to briefly note the disclosures for today's presentation. Except for statements of historical fact, this presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as expects, believes and similar expressions identify these statements. Actual results could differ materially, and we disclaim any obligation to update them, except as required by law. For a full discussion of risk factors, please refer to our most recent SEC filings at sec.gov. In addition to discussing results that are calculated in accordance with GAAP, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and free cash flow. Management uses these metrics to evaluate operating performance and believes they provide investors with additional insight and they're presented for supplemental purposes only and should not be considered in isolation from GAAP results. Reconciliations to the nearest GAAP measures are included in the appendix to this presentation and in the press release and Form 8-K furnished to the SEC. On the next slide, I'm pleased to introduce today's presenters: Frank Holmes, Executive Chairm

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