Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 2

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 2
---
Item 1.     Financial Statements.

Sphere 3D Corp.

Condensed Consolidated Balance Sheets

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

(unaudited)

June 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$4,703 $5,425 Bitcoin2,200 1,394 Investment in equity securities3,414 7,530 Other current assets1,000 3,438 Total current assets11,317 17,787 Property and equipment, net19,644 21,967 Intangible assets, net2,353 3,095 Other non-current assets1,104 379 Total assets$34,418 $43,228 Liabilities, Temporary Equity and Shareholders’ EquityCurrent liabilities:Accounts payable$339 $1,167 Accrued liabilities963 1,299 Accrued payroll and employee compensation388 1,398 Other current liabilities2 31 Total current liabilities1,692 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 June 30, 2025 and December 31, 202418 18 Shareholders’ equity:Common shares, no par value; unlimited shares authorized, 27,950,462 and 25,453,327 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively498,454 497,957 Accumulated other comprehensive loss(1,807)(1,821)Accumulated deficit(463,939)(456,821)Total shareholders’ equity32,708 39,315 Total liabilities, temporary equity, and shareholders’ equity$34,418 $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 June 30,Six MonthsEnded June 30,2025202420252024Revenues:Bitcoin mining revenue$3,018 $4,666 $5,835 $11,612 Operating costs and expenses:Cost of revenue (exclusive of depreciation and amortization shown below)2,301 3,959 4