Riot Blockchain (NASDAQ:RIOT) falls 5.1% after Q1 net loss of $4.28M, or 15 cents per share, narrows from a net loss of $13.5M, or 94 cents per share, in the year-ago quarter.
Total selling, general, and administrative costs of $3.74M increased 18% from $3.15M a year ago; excluding stock-based compensation expense, SG&A decreased to $1.8M vs. $2.9M reported in Q1 2019 primarily due to cost reduction efforts and decreases in legal fees.
Q1 total mining revenue surged 68% to $2.36M vs. $1.41M a year earlier; licensing fees of $24K was unchanged Y/Y.
Q1 total costs and expenses of $6.79M increased from $4.65M a year ago.
As of March 31, 2020, RIOT had $19.2M in cash and cryptocurrencies vs. $11.3M at Dec. 31, 2019. Out of those amounts, $5.28M were cryptocurrencies at Q1 2020-end and $3.84M at Dec. 31, 2019.
Previously: Riot Blockchain EPS beats by $0.02, beats on revenue (May 11)
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