Monitor progress on the Tensor IQ LOI and any definitive agreements, as well as the outcome of Northland Capital Markets' financing evaluation. The company's ability to secure project-level financing and convert its pipeline into cash-generating AI/HPC assets is critical given the ongoing cash burn and negative adjusted EBITDA. Watch for further dilution risk given the recent Series D preferred stock issuance and common share issuances.
Price Chart
Executive Summary
Big Digital Energy reported Q2 2026 revenue of $6.2M, down 35% YoY from $9.5M, with a net loss of $7.4M. The company highlighted a 28% QoQ revenue increase, progress on AI/HPC infrastructure projects including a non-binding LOI with Tensor IQ for a 17 MW deployment, and engagement of Northland Capital Markets for financing. However, the YoY revenue decline, negative adjusted EBITDA of -$4.4M, and ongoing cash burn from operations (-$20.5M in 6 months) signal continued financial strain despite strategic repositioning efforts.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $6.2M, down 35% YoY from $9.5M
- Net loss of $7.4M, improved from $8.0M loss in Q2 2025
- Adjusted EBITDA loss of $4.4M vs $2.0M loss in prior year
- Cash used in operations $20.5M in first half of 2026
- Energized capacity ~129 MW; Six Thirty AI agreement deploying ~75 MW
- Entered non-binding LOI with Tensor IQ for 17 MW AI campus at Hood County
- Engaged Northland Capital Markets for site-level financing
- Stockholders' equity improved to $12.4M from deficit of $3.1M at year-end 2025
Financial Impact
Revenue decline of $3.4M YoY (35%), net loss of $7.4M, operating cash burn of $20.5M in H1 2026
Risk Factors
- Non-binding LOI with Tensor IQ may not result in definitive agreements or revenue
- Continued negative operating cash flow of $20.5M in H1 2026 raises going-concern risk
- Revenue declined 35% YoY despite strategic pivot to AI/HPC
- Heavy reliance on future financing to fund growth strategy
- Nasdaq compliance regained but ongoing listing risk remains
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3344097 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $3.86 | awaiting T+5 | — | $4.02 (+4.15%) |
Sep 28, 2026 29d ago | SC 13D/A | $5.32 $5.35 | ▲ +0.56% | ▼ −1.38% | $4.02 (−24.44%) |
Sep 24, 2026 4w ago | 8-K | $6.24 $5.28 | ▲ +15.38% | ▲ +14.97% | $4.02 (+35.58%) |
Aug 12, 2026 10w ago | Press Release | $6.06 $7.22 | ▼ −19.14% | ▼ −21.11% | $4.02 (+33.66%) |
Jul 29, 2026 12w ago | Press Release | $5.64 | awaiting T+5 | — | $4.02 (−28.72%) |
Jul 20, 2026 14w ago | S-3 | $5.96 $5.27 | ▲ +11.58% | ▲ +10.35% | $4.02 (+32.55%) |
Jul 20, 2026 14w ago | 8-K | $5.70 $5.39 | ▲ +5.44% | ▲ +5.01% | $4.02 (+29.47%) |
Jul 10, 2026 15w ago | Insider Buy | $6.89 $5.71 | ▼ −17.13% | ▼ −16.34% | $4.02 (−41.65%) |
Jul 6, 2026 16w ago | 8-K | $8.15 $7.43 | ▲ +8.83% | ▲ +9.32% | $4.02 (+50.67%) |
Jul 2, 2026 16w ago | Insider Buy | $7.45 $7.77 | ▲ +4.30% | ▲ +3.36% | $4.02 (−46.04%) |
US Market Status
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