Why Mawson Infrastructure Stock Popped 10%
Shares of cryptocurrency mining infrastructure-company Mawson Infrastructure Group (NASDAQ: MIGI) jumped 10.5% through 10:15 a.m. ET (before settling back to a 7% gain) after reporting "record revenue" in its Q4 2021 earnings report this morning. In an abbreviated report, Mawson didn't provide year-over-year comparisons for its Q4 financials but gave information on its sequential growth rate versus Q3 2021 and year-over-year data versus 2020.
Mawson Infrastructure Group grew its revenue 79% sequentially in Q4 to $19.6 million. It earned 89% gross profit margins on that revenue and tripled its "non-GAAP EBITDA [earnings before interest, taxes, depreciation and amortization]" to $10 million.
For the year, revenue exploded 886% higher to $43.9 million, with $34 million of that being gross profit, a 2,526% increase over 2020. Non-GAAP earnings before EBITDA for the year were $17.9 million -- so most of the year's earnings came in the year's final quarter.
Source Fool.com
