newsfilter
← Latest News
PR Newswire·

WhiteFiber, Inc. Reports Third Quarter 2026 Results

WYFI
  • WhiteFiber, Inc. reported third-quarter 2026 total revenue of $24.0 million, a 19% increase from the prior-year period.
  • Cloud Services revenue reached $18.1 million, while Colocation revenue rose 232% to $5.6 million due to the NC-1 data center ramp-up.
  • The NC-1 facility in North Carolina is fully operational across all 40 MW of contracted IT capacity, with billing commenced for the full capacity despite switchgear commissioning delays.
  • WhiteFiber secured a $300 million financing facility for the NC-1 project, comprising $200 million in initial term loans and a $100 million delayed-draw facility.
  • The company acquired NC-2 and NC-3 in Yadkin County for $60 million, targeting 60 MW of initial capacity with potential to reach 200 MW within seven years.
  • WhiteFiber signed over $700 million in new Cloud Services contract value since the August 2026 earnings call, expanding its footprint to Sydney and Dublin.
  • Remaining performance obligations under ASC 606 totaled approximately $729.0 million as of September 30, 2026.
  • The company launched WhiteFiber Continuum, a cross-data-center networking solution designed to create single logical GPU superclusters across geographically separated facilities.
  • Net loss for the quarter was $101.4 million, including an $80.8 million induced conversion expense related to the settlement of 2031 Convertible Notes.
  • Adjusted EBITDA was approximately breakeven, compared to $2.3 million in the prior-year period.
  • Cash and restricted cash stood at $147.6 million as of September 30, 2026, while deferred revenue increased to $306.0 million.
  • WhiteFiber completed a $310 million offering of 5% convertible senior notes due 2032, generating approximately $298.5 million in net proceeds.
  • The company exchanged approximately $198.2 million of 2031 convertible notes for cash, accrued interest, and 6.3 million ordinary shares, reducing the outstanding principal of those notes to $31.9 million.
  • Total development costs for NC-1 are expected to remain within the original budget range, near the upper end, pending final invoice reconciliation.
  • The entire signed Cloud Services portfolio is projected to generate approximately $365 million in annualized revenue at full deployment by mid-2027.
Company
WhiteFiber, Inc.
Keywords
WhiteFiber, Inc.