Q2 2026 WhiteFiber Inc Earnings Call Transcript

Aug 12, 2026 / 01:00 PM GMT

Release Date Price: €24.4 (+17.31%)

Transcript 10-Q

Key Points

Positve

Whitefiber Inc (WYFI) has successfully moved NC1 into active customer deployment, with initial billing commenced and full 40MW contracted IT load expected to reach full run-rate billing by the end of August.
The company has signed a transformational 10-year agreement representing approximately $865 million of contracted revenue for 40MW of IT workload at NC1.
Whitefiber Inc (WYFI) has significantly expanded its cloud services portfolio, signing new multi-year agreements totaling over $540 million in aggregate contract value, including deals with Baseten and Prime Intellect.
The company has entered into an exclusivity agreement with a consortium of lenders for the proposed secured financing of NC1, which would recycle capital into future development projects.
Whitefiber Inc (WYFI) has successfully demonstrated its patent-pending cross-data center networking technology, achieving 111.2 terabits per second with sub-millisecond latency, potentially enabling a 'virtual supercluster' and creating new monetization opportunities.
The company has secured exclusive access to 100MW of liquid-cooled co-location capacity from Cranboo beginning in 2027, addressing a key industry constraint on deployable power.
Whitefiber Inc (WYFI) has identified a new, highly actionable site that could support approximately 60MW in 2027 and scale to over 250MW, with substantial diligence completed and purchase agreement negotiations underway.
The company is developing a capital-efficient managed services model, which would generate revenue without funding underlying equipment, creating potential for attractive incremental margins.
Whitefiber Inc (WYFI) has decided to move forward with developing approximately 5MW of growth capacity at MTL2, supported by active discussions with prospective customers.
The company has streamlined its cloud services organization and is converting its pipeline into larger-scale, multi-year contracts with firm customer commitments, improving revenue visibility.

Negative

The ramp-up of NC1 took longer than originally anticipated due to delivering and commissioning issues involving certain switchgear equipment, which have since been resolved.
The NC1 permanent financing process has taken longer than initially expected, and there is no assurance that the financing will be completed on favorable terms or at all.
Whitefiber Inc (WYFI) reported a net loss of $15 million, or $0.39 loss per diluted share, reflecting higher depreciation and interest expenses associated with infrastructure expansion.
The company's cloud services results were negatively impacted by temporary downtime between the termination of a prior contract and the commencement of a newly signed replacement contract.
The previous customer termination resulted in approximately $4 million of related expenses payable to the GPU lease provider, which were recorded in cost of revenue.
Whitefiber Inc (WYFI) is facing persistent supply chain constraints, which have affected the pace of equipment start-ups and testing at NC1.
The company's gross margin slightly declined to approximately 59% in Q2 2026 from approximately 61% in the prior-year period.
The development of the additional 200MW of incremental power at NC1 remains subject to the utility process and is a longer-term opportunity with no guaranteed timeline.
Whitefiber Inc (WYFI) is not currently engaging in speculative GPU purchasing, which could limit its ability to capitalize on near-term market opportunities.
The company's cloud services business is seeing customers increasingly prioritize engineering credibility and execution over pricing, which may require continued investment in technical expertise to remain competitive.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WYFI.OQ - WhiteFiber Inc
Q2 2026 WhiteFiber Inc Earnings Call
Aug 12, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the White Fiber second quarter 2026 earnings conference call. Good morning and thank you for joining us. We will begin with prepared remarks from management, followed by a question-and-answer session. During the Q&A, if you would like to ask a question, please press star 1 on your telephone keypad. As a reminder, today's conference is being recorded. I would now like to turn the call over to your host, Cameron Schneer, Senior Vice President of Capital Markets and Corporate Strategy at White Fiber. Cameron, please go ahead.

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Unidentified_2 [2]
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