Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 2

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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Item 1.     Financial Statements.

Sphere 3D Corp.

Condensed Consolidated Balance Sheets

(in thousands of U.S. dollars, except shares)

(unaudited)

March 31,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$2,787 $5,425 Bitcoin1,873 1,394 Investment in equity securities3,880 7,530 Other current assets1,177 3,438 Total current assets9,717 17,787 Property and equipment, net20,990 21,967 Intangible assets, net2,724 3,095 Other non-current assets844 379 Total assets$34,275 $43,228 Liabilities, Temporary Equity and Shareholders’ EquityCurrent liabilities:Accounts payable$1,709 $1,167 Accrued liabilities1,541 1,299 Accrued payroll and employee compensation298 1,398 Other current liabilities3 31 Total current liabilities3,551 3,895 Commitments and contingencies (Note 12)Temporary equity:Series H preferred shares, no par value, unlimited shares authorized, 161 shares issued and outstanding as of March 31, 2025 and December 31, 202418 18 Shareholders’ equity:Common shares, no par value; unlimited shares authorized, 26,178,282 and 25,453,327 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively498,136 497,957 Accumulated other comprehensive loss(1,824)(1,821)Accumulated deficit(465,606)(456,821)Total shareholders’ equity30,706 39,315 Total liabilities, temporary equity, and shareholders’ equity$34,275 $43,228 

See accompanying notes to condensed consolidated financial statements.

1

Sphere 3D Corp.

Condensed Consolidated Statements of Operations

(in thousands of U.S. dollars, except share and per share amounts)

(unaudited)

Three MonthsEnded March 31,20252024Revenues:Bitcoin mining revenue$2,817 $6,946 Operating costs and expenses:Cost of revenue (exclusive of depreciation and amortization shown below)2,194 4,307 General and administrative3,169 3,452 Depreciation and amortization1,