Quarterly ResultMay 14, 2026, 04:33 PM
Big Digital Energy Q1 Net Income $0.61M; Revenues Down 65%; Name Change
AI Summary
Mawson Infrastructure Group Inc., now Big Digital Energy, Inc., reported a net income of $0.61 million for Q1 2026, a significant improvement from a $0.31 million loss in Q1 2025. However, total revenues decreased by 65% to $4.82 million, primarily due to declines in digital colocation and energy management revenues. The company also issued a going concern warning due to substantial cash usage in operations and negative working capital, despite raising $6.4 million through an At-the-Market offering.
Key Highlights
- Company changed its name to Big Digital Energy, Inc. effective April 24, 2026.
- Q1 2026 net income was $0.61 million, compared to a $0.31 million loss in Q1 2025.
- Total revenues for Q1 2026 decreased 65% to $4.82 million from $13.81 million year-over-year.
- Net cash used in operating activities increased to $17.13 million from $0.51 million year-over-year.
- A $10.16 million gain on legal settlements contributed to Q1 2026 net income.
- Raised $6.4 million in net proceeds from an At-the-Market offering in Q1 2026.
- Company issued a going concern warning due to its financial conditions.