Filing Flows › Hyperscale Data (GPUS) › Q4 2025
Hyperscale Data (GPUS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 15, 2026
Hyperscale Data (GPUS) reported revenue of $26.9M for the fourth quarter 2025 (Q4 2025), +38% from a year earlier and +11% from the quarter before. Operating margin was -117.8%, net loss $29.9M (111.1% of revenue).
Hyperscale Data, Q4 2025: revenue $26.9M (+38% year over year), operating margin -117.8%, net loss $29.9M, operating cash flow −$37.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.9M | +11% | +38% |
| Operating profit | −$31.7M | — | — |
| Net earnings | −$29.9M | — | — |
| Operating cash flow | −$37.7M | — | — |
What changed
Revenue was $26.9M in Q4 2025, up 38% year over year and up 11% from the previous quarter.
Gross margin was 14.5%, up 7.9 points from Q4 2024. Operating costs exceeded revenue by $31.7M, an operating margin of -117.8%. Operating expenses grew 243% against revenue growth of 38%. The fastest-growing cost line was General & admin (+1195%). The quarter ended with a net loss of $29.9M, wider than the previous quarter's $13.6M loss.
Operating cash flow was −$37.7M. Non-cash charges added back $5.1M of depreciation and amortization and $500K of share-based compensation. Working capital and other items used $13.4M. Capital expenditures of $18.5M exceeded it, leaving free cash flow of −$56.2M.
Questions
What was Hyperscale Data's revenue in the fourth quarter 2025?
Hyperscale Data (GPUS) reported revenue of $26.9M for the fourth quarter 2025 (Q4 2025), +38% from a year earlier and +11% from the quarter before.
Was Hyperscale Data profitable in the fourth quarter 2025?
Operating loss was $31.7M (-117.8% of revenue) and net loss $29.9M.
Source: Hyperscale Data 10-K on SEC EDGAR.