Monitor next quarterly results for margin improvement as NC-1 revenue begins (expected mid-2026) and G&A expenses stabilize. The large contract wins provide visibility, but the current loss profile warrants caution until profitability trends improve.
Price Chart
Executive Summary
WhiteFiber filed an 8-K with an investor presentation showing Q1 2026 revenue grew 30.7% YoY to $21.9M, but the company swung to a net loss of $12.0M from net income of $1.4M a year ago, and Adjusted EBITDA fell 50% to $3.0M. The presentation highlights an $865M NC-1 contract with Nscale and >$175M in recent cloud wins, but the deteriorating profitability tempers the growth narrative.
Key Facts
- Q1 2026 total revenue $21.9M vs $16.8M YoY (+30.7%)
- Net loss of $12.0M vs net income of $1.4M YoY
- Adjusted EBITDA $3.0M vs $6.0M YoY (-50%)
- NC-1 anchor contract with Nscale: $865M TCV, 10-year, 40 MW IT load
- Recent cloud contract wins >$175M TCV (Paris region $160M, Hyperbolic/Modal Labs ~$17M)
- ~1.5 GW data center pipeline under evaluation
Financial Impact
Revenue growth of ~$5.2M YoY but net loss widened by ~$13.5M; Adjusted EBITDA declined ~$3.0M
Risk Factors
- Execution risk on NC-1 buildout and revenue ramp
- Rising G&A and depreciation costs may continue to pressure margins
- Competitive AI infrastructure market could limit pricing power
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-067329 |
| Document: ea0294306-8k_whitefiber.htm | 0001213900-26-067329 |
| Document: 0001213900-26-067329-index-headers.html | 0001213900-26-067329 |
| Document: 0001213900-26-067329-index.html | 0001213900-26-067329 |
| Document: 0001213900-26-067329.txt | 0001213900-26-067329 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $17.59 $16.82 | ▼ −4.38% | ▼ −3.92% | $17.93 (+1.93%) |
Aug 17, 2026 6w ago | 8-K | $30.35 $27.07 | ▼ −10.81% | ▼ −10.13% | $17.93 (−40.92%) |
Aug 3, 2026 8w ago | 8-K | $25.95 $26.60 | ▲ +2.50% | ▲ +0.70% | $17.93 (−30.91%) |
Jun 10, 2026 16w ago | 8-K | $24.55 $24.70 | ▲ +0.61% | ▲ +0.07% | $17.93 (−26.97%) |
May 27, 2026 18w ago | 8-K | $32.18 $29.74 | ▼ −7.58% | ▼ −7.82% | $17.93 (−44.28%) |
US Market Status
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