Bitdeer Technologies Group
BTDR Technology Software Application
Bitdeer Technologies Group’s revenue for fiscal 2025 (year ended December 2025) was $620.3 million, up 77.3% from fiscal 2024. In the quarter to June 2026, revenue grew 47.1%, EPS fell 14.0%, free cash flow grew 5.54% and total debt rose 245.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Bitdeer Technologies Group (BTDR) Piotroski F-score
Bitdeer Technologies Group's Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, up from 1 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 2.00 |
| FY2024 | 1 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 3.01% | (54.54%) | Pass | 1 |
| Positive operating cash flow | (1.74b) | (622.07m) | Fail | 0 |
| Rising return on assets | 3.01% | (54.54%) | Pass | 1 |
| Cash flow above net income | (1.80b) | (22.92m) | Fail | 0 |
| Falling long-term leverage | 0.11 | 0.00 | Fail | 0 |
| Rising current ratio | 0.91 | 0.86 | Pass | 1 |
| No new shares issued | 204,679,000 | 137,426,000 | Fail | 0 |
| Rising gross margin | 9.83% | 18.98% | Fail | 0 |
| Rising asset turnover | 0.28 | 0.32 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BLKB Blackbaud, Inc. compare | 8 |
| DBD Diebold Nixdorf, Incorporated compare | 7 |
| ADEA Adeia Inc. compare | 7 |
| PLUS ePlus inc. compare | 6 |
| VERX Vertex, Inc. compare | 6 |
| NCNO nCino Inc. compare | 6 |
| ASAN Asana, Inc. compare | 5 |
| SOUN SoundHound AI, Inc. compare | 4 |
| BTDR Bitdeer Technologies Group | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover