Demonstrações financeiras detalhadas de HIVE Digital Technologies Ltd. (HIVE): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
HIVE Digital Technologies Ltd. registou receitas de $297.8M no último exercício, com um CAGR de 5 anos de 34.5%.
Margens dos últimos 12 meses: margem bruta -32.5%, margem operacional -60.7%, margem líquida -98.0%.
Ao preço atual de $2.90, HIVE apresenta lucros negativos (P/L não significativo) e um ROE de -60.44%. A capitalização de mercado é de $794M.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | 0 | $13.1M | $31.8M | $29.2M | $67.7M | $211.2M | $106.3M | $114.5M | $115.3M | $297.8M |
| Custo da Receita | 0 | $2.9M | $24.8M | $20.7M | $16.6M | $47.3M | $55.5M | $76.9M | $90.1M | $360.3M |
| Lucro Bruto | 0 | $10.1M | $7.0M | $8.5M | $51.1M | $163.9M | $50.9M | $37.5M | $25.1M | -$62.5M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $56136 | $9.4M | $5.9M | $5.4M | $6.8M | $17.7M | $21.6M | $20.5M | $27.5M | $31.4M |
| Despesas Operacionais | $56136 | $9.4M | $5.9M | $5.4M | $6.8M | $17.7M | $21.6M | $4.8M | $23.5M | $57.2M |
| Lucro Operacional | -$56136 | $781630 | $1.2M | $3.1M | $44.3M | $146.2M | $29.2M | $32.7M | $1.6M | -$119.8M |
| EBITDA | 0 | -$4.5M | -$14.3M | $2.7M | $62.5M | $143.9M | -$46.0M | $96.7M | $28.9M | $27.2M |
| Despesas com Juros | $470390 | $122683 | $182691 | $418888 | $1.2M | $3.9M | $4.0M | $3.6M | $2.3M | $1.3M |
| Lucro Antes de Impostos | -$535134 | -$25.6M | -$138.0M | -$832081 | $24.3M | $82.0M | -$236.1M | $32.7M | $1.6M | -$144.6M |
| Imposto | 0 | $227000 | -$227000 | $830742 | $151366 | $2.4M | $289000 | $6.2M | $4.6M | $3.9M |
| Lucro Líquido | -$535134 | -$26.2M | -$137.8M | -$1.7M | $24.1M | $79.6M | -$236.4M | $26.5M | -$3.0M | -$148.4M |
| LPA | $-0.06 | $-0.68 | $-2.19 | $-0.03 | $0.35 | $1.02 | $-2.85 | $0.29 | $-0.02 | $-0.66 |
| LPA Diluído | $-0.06 | $-0.68 | $-2.19 | $-0.05 | $0.33 | $0.94 | $-2.85 | $0.29 | $-0.02 | $-0.66 |
| Ações em Circulação (Diluídas) | $9.5M | $38.2M | $62.9M | $65.4M | $73.3M | $84.8M | $82.9M | $90.0M | $127.9M | $225.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $87.3M | $93.1M | $71.8M | $77.1M |
| Lucro Bruto | $4.1M | $32.1M | -$114.6M | -$28.7M |
| Lucro Operacional | -$9.2M | $16.7M | -$163.0M | -$44.4M |
| EBITDA | $23.8M | $6.3M | -$29.8M | $10.0M |
| Lucro Líquido | -$15.8M | -$91.3M | -$76.3M | -$139.3M |
| LPA | $-0.07 | $-0.38 | $-0.40 | $-0.54 |
| LPA Diluído | $-0.07 | $-0.38 | $-0.39 | $-0.54 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $30852 | $14.7M | $6.8M | $5.1M | $40.3M | $5.3M | $4.4M | $9.7M | $23.4M | $23.1M |
| Investimentos de Curto Prazo | 0 | 0 | $2.0M | 0 | $58.5M | $186.7M | $68.8M | $7.0M | $24.1M | $9.7M |
| Contas a Receber | $1251 | 0 | $2.4M | $9.1M | $8.8M | $8.0M | $9.4M | $6.9M | $15.3M | $15.6M |
| Estoque | $12.6M | $7.8M | $4.2M | $3.5M | 0 | 0 | 0 | $161.6M | $181.1M | 0 |
| Ativos Circulantes | $32100 | $48.1M | $15.7M | $18.3M | $107.5M | $199.9M | $82.5M | $185.2M | $245.3M | $59.8M |
| Imobilizado | $445887 | $57.1M | $9.8M | $8.9M | $24.6M | $189.8M | $98.3M | $102.9M | $208.4M | $480.5M |
| Ágio | $513000 | $513000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | 0 | $2.3M | 0 | $604070 | $335003 | $67163 | 0 | 0 | 0 |
| Ativos Totais | $477988 | $161.4M | $27.8M | $29.1M | $178.3M | $451.5M | $196.2M | $306.7M | $531.6M | $639.1M |
| Contas a Pagar | $2.5M | $1.4M | $946022 | $1.1M | $3.4M | $12.3M | $6.9M | $7.5M | $11.7M | $10.7M |
| Dívida de Curto Prazo | $117180 | 0 | $2.8M | $2.7M | $6.3M | $12.7M | $10.7M | $10.1M | $39.2M | $3.6M |
| Passivos Circulantes | $2.7M | $10.0M | $5.8M | $7.2M | $9.9M | $26.1M | $21.9M | $27.1M | $66.0M | $54.4M |
| Dívida de Longo Prazo | 0 | $20.0M | 0 | 0 | $23.4M | $20.0M | $16.6M | $12.4M | $10.2M | $23.8M |
| Passivos Totais | $2.7M | $10.3M | $5.8M | $8.0M | $50.2M | $63.1M | $47.3M | $47.3M | $82.5M | $109.8M |
| Reservas | -$8.0M | -$33.7M | -$171.5M | -$173.2M | -$146.9M | -$60.1M | -$296.9M | -$270.9M | -$273.9M | -$422.3M |
| Patrimônio Líquido | -$2.2M | $151.1M | $21.9M | $21.1M | $128.2M | $388.4M | $148.9M | $259.4M | $449.1M | $529.4M |
| Dívida Total | $116952 | $20.0M | $2.8M | $5.1M | $40.2M | $43.2M | $35.4M | $30.1M | $55.2M | $71.1M |
| Dívida Líquida | $86100 | $5.3M | -$6.0M | -$73116 | -$58.6M | -$148.7M | -$37.7M | $13.5M | $7.7M | $38.2M |
| Capital de Giro | -$2.6M | $38.1M | $9.8M | $11.1M | $97.7M | $173.8M | $60.6M | $158.1M | $179.3M | $5.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $22.6M | $14.1M | $23.1M | $208.0M |
| Ativos Totais | $693.0M | $624.0M | $639.1M | $924.6M |
| Passivos Totais | $68.4M | $64.7M | $109.8M | $501.9M |
| Patrimônio Líquido | $624.6M | $559.3M | $529.4M | $422.7M |
| Dívida Total | $23.1M | $18.1M | $71.1M | $373.9M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | -$525375 | -$25.8M | -$137.8M | -$1.7M | $42.5M | $79.6M | -$236.4M | -$51.2M | -$3.0M | -$148.4M |
| Depreciação e Amortização | $3.5M | $3.2M | $29.3M | $6.3M | $10.7M | $67.0M | $81.7M | $65.9M | $64.5M | $170.4M |
| Compensação em Ações | $21.7M | $4.8M | $1.1M | $686659 | $1.7M | $6.8M | $8.4M | $7.2M | $10.9M | $25.5M |
| Variação Capital de Giro | $78306 | -$24.9M | $13.6M | -$3.4M | -$56.4M | $122.7M | $185.9M | $96.6M | -$378000 | $13.8M |
| Fluxo de Caixa Operacional | -$447068 | -$25.3M | -$1.6M | $769511 | $22.9M | $66.3M | $44.8M | $13.5M | $16.6M | $61.9M |
| CapEx | -$273699 | -$113.1M | -$2.4M | -$1.9M | -$65.2M | -$212.8M | -$42.8M | -$79.3M | -$174.3M | -$168.8M |
| Aquisições | -$2.4M | 0 | -$7.1M | 0 | -$1.4M | -$237254 | 0 | 0 | -$25.7M | -$9.2M |
| Recompra de Ações | 0 | -$11935 | -$4.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$720767 | -$138.4M | -$4.1M | -$1.1M | -$42.3M | -$146.6M | $2.0M | -$65.7M | -$157.7M | -$106.9M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$10.6M | $46.0M | $16.7M | $4.1M |
| CapEx | -$37.6M | -$55.0M | -$38.5M | -$49.7M |
| Fluxo de Caixa Livre | -$48.2M | -$9.0M | -$21.8M | -$45.6M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $5.5M | $7.0M | $7.2M | $7.1M |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | | +143.3% | -8.2% | +131.7% | +212.0% | -49.7% | +7.7% | +0.7% | +158.3% |
| Crescimento Lucro Líquido (anual) | | -4803.9% | -425.1% | +98.8% | +1552.0% | +229.8% | -396.9% | +111.2% | -111.3% | -4854.9% |
| Crescimento LPA (anual) | | -1105.7% | -222.1% | +98.8% | +1478.0% | +191.4% | -379.4% | +110.2% | -108.1% | -2720.5% |
| Variação de Ações (anual) | | +302.9% | +64.7% | +3.9% | +12.1% | +15.7% | -2.3% | +8.6% | +42.2% | +76.2% |
| Crescimento FCF (anual) | | -19097.6% | +97.0% | +72.8% | -3710.0% | -246.6% | +101.3% | -3465.7% | -139.9% | +32.2% |
| Margem Bruta | | 77.5% | 22.1% | 29.1% | 75.5% | 77.6% | 47.8% | 32.8% | 21.8% | -21.0% |
| Margem Operacional | | 6.0% | 3.7% | 10.6% | 65.5% | 69.2% | 27.5% | 28.6% | 1.4% | -40.2% |
| Margem EBITDA | | -34.1% | -45.0% | 9.1% | 92.4% | 68.1% | -43.3% | 84.5% | 25.1% | 9.1% |
| Margem Líquida | | -200.6% | -433.0% | -5.7% | 35.7% | 37.7% | -222.4% | 23.2% | -2.6% | -49.8% |
| Margem FCF | | -1057.8% | -12.8% | -3.8% | -62.5% | -69.4% | 1.8% | -57.4% | -136.8% | -35.9% |
| Taxa Efetiva de Imposto | -0.0% | -0.9% | 0.2% | -99.8% | 0.6% | 2.9% | -0.1% | 18.9% | 285.9% | -2.7% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $-0.08 | $-3.62 | $-0.06 | $-0.02 | $-0.58 | $-1.73 | $0.02 | $-0.73 | $-1.23 | $-0.47 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $9.5M | $38.2M | $62.9M | $65.4M | $69.4M | $77.7M | $82.9M | $90.0M | $127.9M | $225.4M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -60.44% |
| Retorno sobre capital investido | -25.08% |
| Retorno sobre ativos | -34.90% |
| Margem bruta | -32.52% |
| Margem operacional | -60.70% |
| Margem líquida | -98.01% |
Saúde financeira
| Dívida / Patrimônio | 0.88 |
| Liquidez corrente | 1.96 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 1.27 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | -6.21 | -7.13 | -0.91 | -27.56 | 55.71 | 10.44 | -1.15 | 11.55 | -61.97 | -2.88 |
| P/VP | -1.51 | 1.23 | 5.73 | 2.17 | 10.56 | 2.13 | 1.83 | 1.16 | 0.41 | 0.81 |
| P/V | 0.00 | 14.17 | 3.95 | 1.57 | 19.99 | 3.92 | 2.56 | 2.63 | 1.61 | 1.44 |
| Margem Bruta | 0.0% | 77.5% | 22.1% | 29.1% | 75.5% | 77.6% | 47.8% | 32.8% | 21.8% | -21.0% |
| Margem Operacional | 0.0% | 6.0% | 3.7% | 10.6% | 65.5% | 69.2% | 27.5% | 28.6% | 1.4% | -40.2% |
| Margem Líquida | 0.0% | -200.6% | -433.0% | -5.7% | 35.7% | 37.7% | -222.4% | 23.2% | -2.6% | -49.8% |