WYFI WhiteFiber, Inc.
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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.
Actionable Insight
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.
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
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 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 10, 2026
4d ago
|
8-K
| $22.82 awaiting T+5 | awaiting T+5 | — | $24.70 (+8.24%) |
|
May 27, 2026
18d ago
|
8-K
| $32.18 $28.03 | ▼ −12.90% | ▼ −12.85% | $24.70 (−23.24%) |
US Market Status
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