CleanSpark Inc. (CLSK) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
$8.20 -4.43% NASDAQ • Public Delayed / 60s Snapshot
CleanSpark Inc. (CLSK) receives a Roarable Rating of D (Sell) and flashes a Red SELL / AVOID warning (59/100 RQD Confidence). Our SEC filing scanner spotted paper earnings outpacing real operating cash flow (+317.3% (NI vs OCF)) while unpaid customer invoices grew—a classic sign to step aside until cash flow catches up.
ROARABLE D • SELL / AVOID
Cap $2.11B
INTERACTIVE SCENARIO DECK:
RQD QUANT TACHOMETERSELL / AVOID • D
2-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale
5-PILLAR SNOWFLAKE RADARRw D · Rk D
Each axis scored 0–20
12M PRICE TARGET CONE+0.5% Base Target
WHALE OPTIONS TUG-OF-WAR:53% Call Buyers ($2.4M)
47% PutsMax Pain: $8.00
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)
How CLSK Turns Every Dollar of Sales Into Real Bottom-Line Profit
Free Cash Flow:$0 (0% FCF Margin)
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $168.4M
FY24
Rev $379.0M
FY25
Rev $766.3M
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $766.3M | 55.2% | 41.6% | $364.5M | -$495.5M | 14% |
| FY 2024 | $379.0M | 56.3% | -39.3% | -$145.8M | -$250.7M | -5.6% |
| FY 2023 | $168.4M | 44% | -77.8% | -$138.1M | -$24.8M | -14.8% |
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CLSK // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -38.79%▼ SUPPORT BREAKDOWN
2026-10-30O $7.72H $7.83L $7.29C $7.67VOL 20.12M
RES: $14.72SUP: $7.74SMA50: $11.53SMA200: $12.34
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK
CLSK Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
Share Count & Dilution Monitor (#25)
Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).
Reverse-DCF Expectations Hurdle (#30)
-11.4%/yr Implied 5Y Growth
vs. +102.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
Ellis Vennor Setup Ledger (#33)
No active Ellis Vennor swing setup published on CLSK today. View full Setup Ledger →
🦋 Documented & Second-Order Butterfly Connections
Open Graph →
CLSK → RIOT Confirmed Filing
Bitcoin mining is a zero-sum hash-share competition: CleanSpark pure-play high-efficiency fleet expansion increases network difficulty for Riot Platforms, pushing Riot to evaluate repurposing Corsicana/Rockdale ERCOT megawatts toward AI/HPC colocation.
AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CLSK today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
CLSK Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is CleanSpark Inc. (CLSK)?
In FY 2025 (10-K), CLSK converted $766.3M of revenue into a 55.2% gross margin, 41.6% operating margin, and $0 in free cash flow (0% FCF margin).