Company: ANY
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015457
Chunk: 27

Company: Sphere 3D Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 27
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 served as the Company’s auditor since 2022.

Houston, Texas

March 28, 2025

F-2

Sphere 3D Corp.

Consolidated Balance Sheets

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

December 31, 2024December 31, 2023AssetsCurrent assets:Cash and cash equivalents$5,425 $586 Bitcoin1,394 986 Investment in equity securities7,530 — Other current assets3,438 11,938 Total current assets17,787 13,510 Property and equipment, net21,967 24,166 Intangible assets, net3,095 4,581 Other non-current assets379 3,406 Total assets$43,228 $45,663 Liabilities, Temporary Equity and Shareholders’ EquityCurrent liabilities:Accounts payable$1,167 $2,374 Accrued liabilities1,299 1,179 Accrued payroll and employee compensation1,398 1,482 Other current liabilities31 311 Total current liabilities3,895 5,346 Commitments and contingencies (Note 16)Temporary equity:Series H preferred shares, no par value, unlimited shares authorized, 161 and 43,515 shares issued and outstanding at December 31, 2024 and 2023, respectively18 13,794 Shareholders’ equity:Common shares, no par value; unlimited shares authorized, 25,453,327 and 15,373,616 shares issued and outstanding as of December 31, 2024 and 2023, respectively497,957 475,702 Accumulated other comprehensive loss(1,821)(1,808)Accumulated deficit(456,821)(447,371)Total shareholders’ equity39,315 26,523 Total liabilities, temporary equity, and shareholders’ equity$43,228 $45,663 

See accompanying notes to consolidated financial statements.

F-3

Sphere 3D Corp.

Consolidated Statements of Operations

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

Year Ended December 31,20242023Revenues:Bitcoin mining revenue$16,608 $19,730 Service and product revenue— 2,176 Total revenues16,608 21,906 Operating costs and expenses:Cost of Bitcoin mining revenue (exclusive of