Bitmine Immersion Technologies, Inc. stock research
FY2023 Q4
Bitmine Immersion Technologies (BMNR) Gross Margin — Quarter Ended Aug 31, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened from the prior quarter but improved significantly from the same quarter one year earlier.
Gross margin takeaway
Quarter ended Aug 31, 2023 · FY2023 Q4
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened from the prior quarter but improved significantly from the same quarter one year earlier.
- The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue grew while cost of revenue increased at a slower pace compared to the prior quarter, supporting gross profit growth.
- Compared to the immediately preceding quarter, gross margin was lower despite higher revenue and gross profit. Compared to the same quarter one year earlier, gross margin was higher, as the company moved from a negative gross profit to a positive one.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
44.4%
Gross profit
$108861
Revenue
$245346
Cost of revenue
$136485
Quarter-over-quarter change
-4.7 pts
Year-over-year change
+308.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Feb 28, 2023 | $156090 | $60633 | $95457 | 38.8% |
| May 31, 2023 | $142126 | $69734 | $72392 | 49.1% |
| Aug 31, 2023 | $245346 | $108861 | $136485 | 44.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
May 31, 2023
-4.7 pts
Year-over-year change
Aug 31, 2022
+308.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue grew while cost of revenue increased at a slower pace compared to the prior quarter, supporting gross profit growth.
Compared to the immediately preceding quarter, gross margin was lower despite higher revenue and gross profit. Compared to the same quarter one year earlier, gross margin was higher, as the company moved from a negative gross profit to a positive one.
Monitor the trend in cost of revenue relative to revenue, as the current quarter's gross margin decline from the prior quarter suggests cost growth may outpace revenue growth.