Quarterly ResultMay 14, 2026, 07:07 AM
WhiteFiber Q1 Revenue $21.9M; Net Loss $(12.0M); EPS $(0.31)
AI Summary
WhiteFiber reported a net loss of $12.0 million, or $(0.31) per share, for the first quarter of 2026, a significant reversal from a net income of $1.4 million in the prior year period. Total revenues increased by 30.7% to $21.9 million, driven by strong growth in both cloud and colocation services. However, a substantial increase in operating costs, particularly general and administrative expenses, and interest expense from a new convertible note, led to an operating loss and overall net loss. The company also noted various operational and market risks.
Key Highlights
- Net loss of $(12,042,404) for Q1 2026, compared to net income of $1,427,836 in Q1 2025.
- Total Revenues increased 30.7% to $21,923,451 for Q1 2026 from $16,767,516 in Q1 2025.
- Basic EPS was $(0.31) for Q1 2026, down from $0.05 in Q1 2025.
- Cloud services revenue grew 13.0% to $16,766,543 in Q1 2026.
- Colocation services revenue surged 190.2% to $4,773,550 in Q1 2026.
- Operating loss was $(11,019,824) for Q1 2026, compared to operating income of $2,043,376 in Q1 2025.
- Total liabilities increased to $443,717,925 as of March 31, 2026, from $168,888,158.
- Cash and cash equivalents decreased to $75,782,755 as of March 31, 2026, from $114,441,279.