MARA Holdings Inc. (MARA) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
$7.17 -2.52% NASDAQ • Public Delayed / 60s Snapshot
MARA Holdings Inc. (MARA) receives a Roarable Rating of D+ (Sell) and flashes a Red SELL / AVOID warning (57/100 RQD Confidence). Our SEC filing scanner spotted paper earnings outpacing real operating cash flow (-101.4% (NI vs OCF)) while unpaid customer invoices grew—a classic sign to step aside until cash flow catches up.
ROARABLE D+ • SELL / AVOID
Cap $2.77B
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-0.4% Base Target
WHALE OPTIONS TUG-OF-WAR:53% Call Buyers ($2.4M)
47% PutsMax Pain: $7.00
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)
How MARA 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 $57.7M
FY24
Rev $96.5M
FY25
Rev $58.7M
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $58.7M | 44% | -2085.5% | -$1.31B | -$1.21B | -15.8% |
| FY 2024 | $96.5M | -745.1% | 317.1% | $541.3M | -$927.8M | 3.9% |
| FY 2023 | $57.7M | 44% | 382.9% | $259.1M | -$318.2M | 19% |
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MARA // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -43.54%🛡️ HOLDING TREND SUPPORT
2026-10-30O $6.81H $6.82L $6.45C $6.77VOL 43.07M
RES: $14.56SUP: $6.37SMA50: $10.37SMA200: $10.80
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK
MARA 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)
20.6%/yr Implied 5Y Growth
vs. -39.2% 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 MARA today. View full Setup Ledger →
🦋 Documented & Second-Order Butterfly Connections
Open Graph →
IBIT → MARA Confirmed Filing
Spot ETF inflows into IBIT support USD Bitcoin price after the April 2024 block-reward halving cut miner BTC issuance by 50% (3.125 BTC/block), prompting MARA Holdings to pair energized EH/s mining with convertible-funded BTC purchases.
AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for MARA today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
MARA Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is MARA Holdings Inc. (MARA)?
In FY 2025 (10-K), MARA converted $58.7M of revenue into a 44% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).