RIOT reported $120M of remaining performance obligations at 30 Jun 2025, up 409% from a year earlier and down 9% from the previous quarter. That is 0.2 years of trailing revenue already under contract. Book-to-bill last quarter: 0.92.
Net new backlog added in the latest quarter: -$12.0M.
Customer prepayments (contract liabilities) cover 18.1% of the backlog.
Twelve-month book-to-bill: 1.18, i.e. 1.18 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +316 points — orders are running ahead of revenue.
The latest filed figure is more than 200 days old.
RIOT backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2025
$120M
$542M
0.2 yrs
$21.6M
31 Mar 2025
$132M
$459M
0.3 yrs
$8.80M
31 Dec 2024
$85.9M
$377M
0.2 yrs
$9.60M
30 Sep 2024
$25.5M
$313M
0.1 yrs
$25.5M
30 Jun 2024
$23.5M
$280M
0.1 yrs
$23.5M
31 Mar 2024
$21.5M
$287M
0.1 yrs
$21.5M
31 Dec 2023
$22.3M
$281M
0.1 yrs
$22.3M
30 Sep 2023
$24.7M
$262M
0.1 yrs
$24.7M
30 Jun 2023
$22.6M
$256M
0.1 yrs
$22.6M
31 Mar 2023
$25.5M
$253M
0.1 yrs
$25.5M
31 Dec 2022
$29.2M
$259M
0.1 yrs
$29.2M
31 Dec 2021
$27.2M
$213M
0.1 yrs
$27.9M
Questions
What is RIOT's backlog?
RIOT reported $120M of remaining performance obligations at 30 Jun 2025, up 409% from a year earlier and down 9% from the previous quarter. That is 0.2 years of trailing revenue already under contract. Book-to-bill last quarter: 0.92.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.