WhiteFiber Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 revenue grew 54% year-over-year, driven by cloud and colocation growth, with NC-1 reaching active deployment and major new multi-year contracts signed. Gross margin improved to 59%, and permanent financing for NC-1 is in exclusivity, expected to unlock further growth.
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Revenue grew 31% year-over-year to $21.9M, with strong gross margins and positive adjusted EBITDA. Major projects NC1 and MTL-3 advanced, while the cloud business pivoted to longer-term contracts and a robust pipeline. Supply chain and utility constraints persist but are being managed.
Fiscal Year 2025
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Q4 revenue rose to $23.6M, driven by new data center and cloud contracts, with gross margin up to 61%. NC-1 project advanced with a major hyperscale offtake, while cloud shifted to longer-term enterprise deals. Financing and capital allocation remain focused on supporting rapid AI infrastructure growth.
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Revenue grew 64% year-over-year to $20.2M, driven by cloud and colocation expansion, with NC1 on track for 2026 launch and strong demand from enterprise customers. Operating loss widened due to IPO and scaling costs, but liquidity remains robust and new contracts are expected to offset short-term underutilization.
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Q2 revenue rose 48% year-over-year to $18.7M, driven by strong cloud and new colocation growth. IPO raised $183M, supporting expansion and NC1 build-out, with customer contracts and debt financing in progress. Execution on rapid retrofits and robust demand position the company for continued growth.
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Panelists described a fast-evolving landscape where Bitcoin mining firms are expanding into AI and HPC data centers, leveraging energy assets, rapid deployment, and innovative business models. Access to power, operational excellence, and strategic partnerships are key to future growth.