Bitdeer Technologies (BTDR) | Financial Analysis & Statements
Bitdeer Technologies Group Mid-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
EPS (Diluted)
$-0.73
Balance Sheet Metrics
Total Assets
1.6B
Total Liabilities
804.0M
Shareholders Equity
794.6M
Debt to Equity
1.01
Cash Flow Metrics
Operating Cash Flow
-511.2M
Free Cash Flow
-580.0M
Revenue & Profitability Trend
Bitdeer Technologies Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | - | 349.8M | 368.6M | 333.3M | 394.7M |
| Cost of Goods Sold | - | 283.4M | 290.7M | 250.1M | 153.3M |
| Gross Profit | - | 66.4M | 77.8M | 83.3M | 241.4M |
| Gross Margin % | 0.0% | 19.0% | 21.1% | 25.0% | 61.2% |
| Operating Expenses | |||||
| Research & Development | - | 76.9M | 29.5M | 35.4M | 29.5M |
| Selling, General & Administrative | - | 72.4M | 74.7M | 105.1M | 98.2M |
| Other Operating Expenses | - | 6.5M | 29.8M | -42.0K | 3.6M |
| Total Operating Expenses | 0 | 155.8M | 134.0M | 140.5M | 131.3M |
| Operating Income | - | -89.4M | -56.2M | -57.3M | 110.1M |
| Operating Margin % | 0.0% | -25.6% | -15.3% | -17.2% | 27.9% |
| Non-Operating Items | |||||
| Interest Income | - | 7.9M | 8.0M | 4.3M | 2.9M |
| Interest Expense | - | 17.9M | 5.1M | 5.2M | 2.4M |
| Other Non-Operating Income | - | -501.9M | 3.0M | -6.2M | 20.5M |
| Pre-tax Income | - | -601.6M | -51.0M | -64.8M | 130.9M |
| Income Tax | - | -2.4M | 5.7M | -4.4M | 48.2M |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 36.9% |
| Net Income | - | -599.2M | -56.7M | -60.4M | 82.6M |
| Net Margin % | 0.0% | -171.3% | -15.4% | -18.1% | 20.9% |
| Key Metrics | |||||
| EBITDA | - | -587.0K | 26.2M | 13.3M | 179.4M |
| EPS (Basic) | $0.32 | $-4.36 | $-0.51 | $-0.54 | $0.74 |
| EPS (Diluted) | $-1.43 | $-4.36 | $-0.51 | $-0.54 | $0.74 |
| Basic Shares Outstanding | 204679000 | 137426000 | 110494000 | 111288605 | 111288605 |
| Diluted Shares Outstanding | 204679000 | 137426000 | 110494000 | 111288605 | 111288605 |
Income Statement Trend
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Bitdeer Technologies Balance Sheet From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 476.3M | 144.7M | 231.4M | 372.1M | 44.8M |
| Short-term Investments | 82.1M | - | - | - | - |
| Accounts Receivable | 9.6M | 17.5M | 18.4M | 8.7M | 2.0M |
| Inventory | 64.9M | - | - | - | - |
| Other Current Assets | 291.9M | - | - | - | - |
| Total Current Assets | 949.4M | 264.7M | 319.6M | 424.2M | 677.5M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 229.9M | 26.9M | 19.1M | 8.9M | 4.0M |
| Goodwill | 154.9M | 4.8M | 322.0K | 115.0K | 9.6M |
| Intangible Assets | 83.2M | - | 322.0K | 115.0K | 9.6M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 32.7M | 20.8M | 8.6M | 13.4M | 31.0M |
| Total Non-Current Assets | 608.4M | 374.7M | 331.8M | 222.8M | 175.8M |
| Total Assets | 1.6B | 639.4M | 651.4M | 647.0M | 853.3M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 31.5M | 32.5M | 15.8M | 17.7M | 3.1M |
| Short-term Debt | 213.6M | - | - | - | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 763.9M | - | - | - | - |
| Total Current Liabilities | 1.1B | 212.4M | 221.2M | 258.9M | 684.6M |
| Non-Current Liabilities | |||||
| Long-term Debt | 72.7M | 92.8M | 100.2M | 92.4M | 22.8M |
| Deferred Tax Liabilities | 16.6M | 1.6M | 11.6M | 7.5M | 0 |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | 181.1M | 94.4M | 111.9M | 100.0M | 22.8M |
| Total Liabilities | 1.3B | 306.8M | 333.1M | 358.9M | 707.4M |
| Equity | |||||
| Common Stock | 0 | 0 | 0 | 1.0K | 145.9M |
| Retained Earnings | -649.0M | -49.9M | 6.8M | 67.2M | 0 |
| Treasury Stock | 160.9M | 2.6M | 0 | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 276.6M | 332.6M | 318.3M | 288.1M | 145.9M |
| Key Metrics | |||||
| Total Debt | 286.3M | 92.8M | 100.2M | 92.4M | 22.8M |
| Working Capital | -150.7M | 52.3M | 98.3M | 165.3M | -7.1M |
Balance Sheet Composition
Bitdeer Technologies Cash Flow Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -599.2M | -56.7M | -60.4M | 82.6M | -55.8M |
| Depreciation & Amortization | 81.1M | 75.5M | 66.4M | 63.1M | 112.0M |
| Stock-Based Compensation | 34.0M | 45.5M | 90.6M | 88.4M | 0 |
| Working Capital Changes | -90.9M | 19.4M | -20.4M | 8.6M | 13.2M |
| Operating Cash Flow | -888.7M | -222.5M | -232.1M | -47.7M | -108.4M |
| Investing Activities | |||||
| Capital Expenditures | -126.9M | -126.2M | -62.2M | -88.6M | -143.7M |
| Acquisitions | -6.1M | 0 | -16.8M | -14.9M | 0 |
| Investment Purchases | -2.8M | -4.4M | -61.6M | 0 | 0 |
| Investment Sales | 0 | 31.1M | 1.2M | 0 | 0 |
| Investing Cash Flow | 112.7M | -99.3M | -141.2M | -113.9M | -110.3M |
| Financing Activities | |||||
| Share Repurchases | -617.0K | -2.6M | 0 | 0 | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | 554.2M | 0 | 0 | 30.0M | 10.1M |
| Debt Repayment | -24.7M | -12.2M | -3.9M | -33.5M | -4.5M |
| Financing Cash Flow | 839.1M | -13.9M | -3.9M | -14.4M | 30.8M |
| Free Cash Flow | -749.3M | -398.1M | -617.2M | -202.0M | -253.1M |
| Net Change in Cash | 63.1M | -335.7M | -377.2M | -176.1M | -187.9M |
Cash Flow Trend
Bitdeer Technologies Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
37.67
Forward P/E
-106.41
Price to Book
3.13
Price to Sales
4.72
PEG Ratio
-0.34
Profitability Ratios
Profit Margin
10.58%
Operating Margin
48.64%
Return on Equity
11.46%
Return on Assets
4.58%
Financial Health
Current Ratio
0.91
Debt to Equity
126.67
Beta
2.28
Per Share Data
EPS (TTM)
$-1.43
Book Value per Share
$3.85
Revenue per Share
$3.03
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| BTDR | 2.9B | 37.67 | 3.13 | 11.46% | 10.58% | 126.67 |
| Salesforce | 160.0B | 23.99 | 2.94 | 12.40% | 17.96% | 29.95 |
| Uber Technologies | 153.6B | 15.78 | 5.71 | 39.93% | 19.33% | 43.81 |
| Bentley Systems | 10.1B | 39.34 | 8.80 | 24.91% | 18.50% | 108.01 |
| Altair Engineering | 9.6B | 699.06 | 11.17 | 1.81% | 2.13% | 30.23 |
| InterDigital | 9.3B | 31.84 | 8.78 | 41.53% | 48.76% | 44.71 |
Financial data is updated regularly. All figures are in the company's reporting currency.






