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WhiteFiber (WYFI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · WhiteFiber (WYFI) Q2 2026 earnings results →
Q2 2026 Revenue up 54% year over year to $28.8M · 52¢ of every $1 of revenue lost · operating margin -32.1%
WhiteFiber made $28.8M in Q2 2026 (+54% Y/Y): Cloud services $23.8M, Colocation services $4.7M, Other $307K. Operating margin -32.1%, net loss $15.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
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What changed this quarter
Revenue was $28.8M in Q2 2026, up 55% year over year and up 32% from the previous quarter. Cloud services was the largest line at 83% of revenue. Cloud services added $7.2M year over year (up 43%), 71% of the total change. Other declined 9%.
Gross margin was 58.3%, down 1.3 points from Q2 2025. Operating costs exceeded revenue by $9.3M, an operating margin of -32.1%. Operating expenses grew 29% against revenue growth of 55%. The fastest-growing cost line was Other operating costs (+135%). The quarter ended with a net loss of $15.0M, wider than the previous quarter's $12.0M loss.
Operating cash flow was $85.9M. Non-cash charges added back $6.8M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $90.4M. Capital expenditures of $175.5M exceeded it, leaving free cash flow of −$89.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $28.8M | +54% | -32.1% | −$15.0M | $85.9M |
| Q1 2026 | 10-Q | May 14, 2026 | $21.9M | +31% | -50.3% | −$12.0M | $3.2M |
| Q4 2025 | 10-K | Mar 26, 2026 | $23.6M | +61% | -22.1% | −$1.5M | $69.4M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $20.2M | +64% | -71.9% | −$15.8M | −$16.9M |
| Q2 2025 | 10-Q | Sep 17, 2025 | $18.7M | +48% | -49.1% | −$8.8M | −$3.9M |
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📈Investments: gains and what it boughtinteractive
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About WhiteFiber
We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference. Our business model integrates our data center infrastructure and cloud services to provide scalable, high-performance computing solutions for enterprises, research institutions, and AI and ML driven businesses. Our integrated approach aligns specialized data center operations with GPU-focused cloud services, addressing the unique requirements of AI and ML workloads.
In its own words, from its 10-K, filed Mar 26, 2026.
WhiteFiber against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +54% against the peers' median +18%. Operating margin: -32.1% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WYFI WhiteFiber | Q2 2026 | $28.8M | +54% | -32.1% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: WhiteFiber 10-Q on SEC EDGAR · CIK 2042022 · Finance Services
More on WYFI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results