MARA Holdings' stock experienced a significant 5% decline in after-hours trading. The drop followed the release of the company's first-quarter 2026 financial results, which disappointed investors who had been anticipating the report.
The plunge was driven by earnings that fell short of market expectations on multiple fronts. MARA posted a Q1 loss of $3.31 per share, which was worse than analyst estimates that ranged from a loss of $1.69 to $2.15 per share. Furthermore, revenue for the quarter came in at $174.6 million, missing consensus estimates of approximately $179.2 million to $181.9 million.
The company's net loss attributable to common stockholders widened significantly to $1.26 billion, compared to a loss of $533.2 million in the prior-year period. Revenue also declined by 18% year-over-year, with a notable $35.6 million drop in bitcoin mining revenue contributing to the overall decrease.