Bitmine Immersion Technologies, Inc. stock research
FY2025 Q1
Bitmine Immersion Technologies (BMNR) Gross Margin — Quarter Ended Nov 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, but gross profit rose only slightly as cost of revenue grew faster, resulting in a lower gross margin.
Gross margin takeaway
Quarter ended Nov 30, 2024 · FY2025 Q1
Revenue increased compared to both the prior quarter and the same quarter last year, but gross profit rose only slightly as cost of revenue grew faster, resulting in a lower gross margin.
- The most notable margin driver is the rise in cost of revenue, which grew significantly in proportion to revenue, putting pressure on gross margin.
- Gross margin weakened compared to both the immediately preceding quarter and the same quarter one year earlier, despite higher revenue and gross profit.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
10.0%
Gross profit
$120205
Revenue
$1.2M
Cost of revenue
$1.2M
Quarter-over-quarter change
-6.4 pts
Year-over-year change
-10.3 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 29, 2024 | $891613 | $323622 | $567991 | 36.3% |
| May 31, 2024 | $1.2M | $221687 | $1.0M | 18.1% |
| Aug 31, 2024 | $682087 | $111636 | $570451 | 16.4% |
| Nov 30, 2024 | $1.2M | $120205 | $1.2M | 10.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Aug 31, 2024
-6.4 pts
Year-over-year change
Nov 30, 2023
-10.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable margin driver is the rise in cost of revenue, which grew significantly in proportion to revenue, putting pressure on gross margin.
Gross margin weakened compared to both the immediately preceding quarter and the same quarter one year earlier, despite higher revenue and gross profit.
Monitor the trend in cost of revenue relative to revenue to assess margin sustainability.