Call Start: 16:30 January 1, 0000 5:19 PM ET

CleanSpark, Inc. (NASDAQ:CLSK)
Q4 2024 Earnings Conference Call
December 2, 2024 4:30 PM ET

Company Participants

Brittany Moore - Director, Investor Relations
Zach Bradford - Chief Executive Officer
Gary Vecchiarelli - Chief Financial Officer

Conference Call Participants

Mike Colonnese - HC Wainwright
Brian Dobson - Clear Street
Tyler DiMatteo - BTIG
Brett Knoblauch - Cantor Fitzgerald
Reggie Smith - JPMorgan

Operator

Good afternoon. My name is Krista and I will be your conference operator today. At this time I would like to welcome everyone to our conference call. All lines have been placed on mute to prevent any background noise and after the speaker's remarks there will be a question-and-answer session. [Operator Instructions] Thank you.

And at this time I would like to turn the floor over to Brittany Moore, Director of Investor Relations.

Brittany Moore

Thank you, Krista. And welcome to CleanSpark’s Fiscal Full-Year Financial Results Call covering the period October 1, 2023 through September 30, 2024. Our press release was issued about 30 minutes ago and is available on our website at CleanSpark.com.

Today's call is also being webcast and a replay and transcript will be available on our website. On the call with me are Zach Bradford, our Chief Executive Officer; and Gary Vecchiarelli, our Chief Financial Officer.

Keep in mind that some of the statements we make today are forward-looking and based on our best view of the world and our business as we see them today. The statements and information provided remain subject to the risk factors disclosed in our most recently filed annual report. We will also discuss certain non-GAAP financial measures concerning our performance during today's call. You can find the reconciliation of non-GAAP financial measures in our press release, which is available on our website.

And with that, it is my pleasure to turn the call over to Zach.

Zach Bradford

Thank you, Brittany, and good afternoon, everyone. We appreciate your interest in our company as we share the results of a pivotal and transformative year for CleanSpark. The year marked the culmination of several years of strategic planning, preparation, and execution to fully leverage the halving event. We emerged with an optimal combination of power contracts, infrastructure, mining fleet, Bitcoin HODL, and organic growth pipeline as we enter the next phase of the cycle.

Our financial performance this year reflects a sustained growth trajectory with more than $378.9 million in revenue generated, that's a substantial increase from the $164.8 million reported last fiscal year. This year-over-year growth of over 125% demonstrates our precise execution of plan before and after the halving that occurred midway through our fiscal year.