Riot Platforms Inc. (RIOT) Stock Falls on Q4 2025 Earnings

Riot Platforms Inc. (RIOT) reported the following headline results for Q4 2025:

Total revenue: -$494 million (down 446.5% year-over-year).

Gross profit: -$198 million (down 470.7% year-over-year).

Operating loss: -$63 million (down 133.45% year-over-year).

Net loss attributable to common shareholders: -$28 million; diluted EPS: -2.03.

Cost of sales was -$296 million.

Cash from operating activities: -$114 million, a 15.92% year-over-year improvement.

Purchases of property, plant and equipment (capex): -$132 million (down 23.14% year-over-year).

Cash and cash equivalents on the balance sheet: $234 million (down 15.96% year-over-year).

Total liabilities: $1.1 million (down 99.86% year-over-year).

Reported revenue versus the consensus estimate of $165 million.

Diluted EPS of -2.03 compared with the EPS estimate of -0.29.

Shares were down 1.4% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Riot Platforms Inc. Insider Trading Activity

Riot Platforms Inc. insiders have traded $RIOT stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.

Here’s a breakdown of recent trading of $RIOT stock by insiders over the last 6 months:

WILLIAM RICHARD JACKMAN (EVP, GENERAL COUNSEL) sold 248,168 shares for an estimated $3,916,091
JASON LES (CEO) has made 0 purchases and 3 sales selling 150,000 shares for an estimated $3,005,488.
RYAN D. WERNER (SVP, CAO) sold 14,984 shares for an estimated $344,632

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Riot Platforms Inc. Hedge Fund Activity

We have seen 211 institutional investors add shares of Riot Platforms Inc. stock to their portfolio, and 254 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

VIKING GLOBAL INVESTORS LP added 12,428,894 shares (+inf%) to their portfolio in Q4 2025, for an estimated $157,474,086
FMR LLC removed 7,635,146 shares (-37.4%) from their portfolio in Q4 2025, for an estimated $96,737,299
VALUE ALIGNED RESEARCH ADVISORS, LLC added 6,250,219 shares (+185.3%) to their portfolio in Q4 2025, for an estimated $79,190,274
NOMURA HOLDINGS INC added 5,082,670 shares (+34529.0%) to their portfolio in Q4 2025, for an estimated $64,397,428
JANE STREET GROUP, LLC removed 4,586,732 shares (-48.0%) from their portfolio in Q4 2025, for an estimated $58,113,894
STARBOARD VALUE LP added 3,926,576 shares (+44.5%) to their portfolio in Q4 2025, for an estimated $49,749,717
TOMS CAPITAL INVESTMENT MANAGEMENT LP removed 3,764,000 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $71,628,920

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Riot Platforms Inc. Analyst Ratings

Wall Street analysts have issued reports on $RIOT in the last several months. We have seen 11 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 01/20/2026
Citigroup issued a "Buy" rating on 12/22/2025
JP Morgan issued a "Overweight" rating on 11/25/2025
Citizens issued a "Market Outperform" rating on 11/19/2025
Bernstein issued a "Outperform" rating on 11/03/2025
Piper Sandler issued a "Overweight" rating on 10/31/2025
Macquarie issued a "Outperform" rating on 10/22/2025

To track analyst ratings and price targets for Riot Platforms Inc., check out Quiver Quantitative's $RIOT forecast page.

Riot Platforms Inc. Price Targets

Multiple analysts have issued price targets for $RIOT recently. We have seen 13 analysts offer price targets for $RIOT in the last 6 months, with a median target of $25.0.

Here are some recent targets:

Stephen Glagola from Keefe, Bruyette & Woods set a target price of $23.0 on 01/27/2026
John Todaro from Needham set a target price of $30.0 on 01/20/2026
Peter Christiansen from Citigroup set a target price of $23.0 on 12/22/2025
Reginald Smith from JP Morgan set a target price of $20.0 on 11/25/2025
Greg Miller from Citizens set a target price of $25.0 on 11/19/2025
Brett Knoblauch from Cantor Fitzgerald set a target price of $25.0 on 11/05/2025
Gautam Chhugani from Bernstein set a target price of $25.0 on 11/03/2025