WhiteFiber Reports 54% Revenue Growth to $28.8 Million, Faces $15.7 Million Net Loss

WhiteFiber, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated total revenues of $28.8 million for the quarter, a 54% increase from $18.7 million in the same period last year. This growth was driven primarily by a 43% rise in cloud services revenue, which reached $23.8 million, and a substantial increase in colocation services revenue, which rose to $4.7 million from $1.7 million. However, the company also reported a net loss of $15.7 million for the quarter, compared to a loss of $8.4 million in the prior year, reflecting increased operating costs and expenses.

In terms of operational metrics, WhiteFiber's total assets increased to $880.9 million as of June 30, 2026, up from $651.4 million at the end of 2025. This growth was largely attributed to a significant rise in property, plant, and equipment, which surged to $651.1 million, driven by ongoing investments in data center infrastructure. The company’s liabilities also rose sharply, totaling $543.5 million, primarily due to the issuance of $230 million in convertible notes and increased deferred revenue, which reached $143.1 million, up from $79.6 million at the end of 2025.

Strategically, WhiteFiber has been expanding its footprint through acquisitions and new service agreements. The company completed the acquisition of the MTL-3 facility in Saint-Jérôme, Quebec, and has entered into a significant service agreement with Nscale Services, which is expected to generate approximately $865 million in revenue over ten years. Additionally, WhiteFiber has been actively pursuing new customer contracts, with a total of $635.8 million in new contracted revenue secured during the first half of 2026.

The company’s workforce has also expanded, with an increase in employee headcount to support its growing operations. As of June 30, 2026, WhiteFiber employed a total of 400 individuals, reflecting its commitment to scaling operations in line with its strategic objectives. The company is also focusing on enhancing its cloud services and data center capabilities, with plans to achieve an estimated 70 MW of total data center capacity by the end of 2026.

Looking ahead, WhiteFiber's management expressed optimism about future growth, citing the ongoing demand for high-performance computing services, particularly in the AI sector. However, they acknowledged potential risks, including supply chain disruptions and the need for additional financing to support ongoing projects. The company remains committed to leveraging its integrated data center and cloud service model to capture market opportunities and drive long-term profitability.