Sphere 3D Q1 net loss $8.8M; revenue down 59% YoY to $2.8M

Sphere 3D Corp.

2025-Q1 EPS reported -$0.32 vs consensus -$2.63 ▲ beat (+87.8%)

Net loss $8.8M ($0.32 per share) vs $4.5M loss in Q1 2024; revenue $2.8M vs $6.9M YoY.
Bitcoin production 30.5 BTC vs 144.8 BTC in Q1 2024; mined BTC balance 22.7 worth ~$1.9M.
Operating costs $8.0M vs $8.8M; net loss from operations $5.2M vs $1.9M loss YoY.
Resolved litigation with Gryphon Digital Mining with no payments; $2.4M receivable from Rebel settlement.
New Iowa hosting site energized in March; managed services deal with Simple Mining.

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