Sphere 3D reports FY2022 net loss of $192.8M; impairments of $75.9M on mining equipment

Sphere 3D Corp.

2023-Q1 EPS reported -$0.05 revenue$3,026,000

Revenue $6.1M up from $3.7M; net loss $192.8M ($2.91/share) vs $17.8M ($0.58) in 2021.
Recorded $75.9M impairment on mining equipment and $29.3M in provisions for bankrupt hosting vendors Core Scientific and Compute North.
Mined 131.01 BTC in first year; hashrate 0.4 EH/s at year-end, targeting 1.5 EH/s by mid-May 2023.
Filed arbitration against Core Scientific for deposit recovery; recorded $15.7M provision.
Restructured Series H Preferred Shares: cancelled 36,000 shares without cash; remaining 60,000 converted to common in early 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sphere 3D Corp. reported financial results for fourth fiscal quarter and fiscal year ended December 31, 2022.

Period: fourth fiscal quarter and fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 31, 2023, we issued a press release announcing our financial results for our fourth fiscal quarter and fiscal year ended December 31, 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Sphere 3D Corp. filing history →

Source: SEC EDGAR

accession 0001062993-23-008210

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