CORZZ NASDAQ
Core Scientific, Inc. Tranche 2 Warrants
1W: +2.4%
1M: -13.9%
3M: -21.1%
YTD: -9.9%
1Y: -26.1%
$14.28
+0.50 (+3.63%)
Weekly Expected Move ±9.0%
$11
$12
$13
$14
$16
Credit Risk of going bust: higher than 86% of companies Debt: 48.4% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the second-riskiest tenth, about 1 in 87 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.45 (down 90%), Core Scientific, Inc. Tranche 2 Warrants would be worth roughly what it owes.
Total debt $4.30B against a stock market value of $4.58B.
Distance to default 2.08 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $2.15B (short-term plus half of long-term), stock volatility 72.5%; Altman Z'' -5.99. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $1.45 (down 90%), Core Scientific, Inc. Tranche 2 Warrants would be worth roughly what it owes.
Total debt $4.30B against a stock market value of $4.58B.
Distance to default 2.08 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $2.15B (short-term plus half of long-term), stock volatility 72.5%; Altman Z'' -5.99. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Income Trends
Revenue
$319M
-37.5% ▼
5Y CAGR: +39.5%
Gross Profit
$38M
-68.7% ▼
5Y CAGR: +32.2%
Operating Income
-$145M
-653.8% ▼
Net Income
-$289M
+78.1% ▲
EPS (Diluted)
$-0.88
+82.9% ▲
EBITDA
-$76M
+93.4% ▲
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $544M | $640M | $502M | $511M | $319M |
| YoY Growth | +802.7% | +17.6% | -21.5% | +1.6% | -37.5% |
| Cost of Revenue | $306M | $632M | $379M | $390M | $281M |
| Gross Profit | $239M | $8M | $123M | $121M | $38M |
| Gross Margin | 43.9% | 1.3% | 24.6% | 23.7% | 11.9% |
| R&D Expenses | $8M | $27M | $7M | $12M | $0 |
| SG&A Expenses | $65M | $226M | $101M | $120M | $183M |
| Operating Expenses | $72M | $2.1B | $114M | $140M | $183M |
| Operating Income | $167M | -$2.1B | $9M | -$19M | -$145M |
| Operating Margin | 30.6% | -329.5% | 1.8% | -3.8% | -45.4% |
| Interest Expense | $44M | $97M | $86M | $37M | $3M |
| Income Before Tax | $63M | -$2.2B | -$246M | -$1.3B | -$288M |
| Tax Expense | $16M | -$17M | $683K | $859K | $583K |
| Net Income | $47M | -$2.1B | -$246M | -$1.3B | -$289M |
| Net Margin | 8.7% | -335.2% | -49.1% | -257.5% | -90.5% |
| EPS (Diluted) | $0.20 | $-6.30 | $-0.65 | $-5.14 | $-0.88 |
| EBITDA | $141M | -$1.8B | -$63M | -$1.2B | -$76M |
| Shares Outstanding | 233M | 341M | 380M | 256M | 318M |