Filing Flows › WhiteFiber (WYFI) › Q4 2025
WhiteFiber (WYFI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 26, 2026
WhiteFiber (WYFI) reported revenue of $23.6M for the fourth quarter 2025 (Q4 2025), +61% from a year earlier and +17% from the quarter before. Operating margin was -22.1%, net loss $1.5M (6.5% of revenue).
WhiteFiber, Q4 2025: revenue $23.6M (+61% year over year), operating margin -22.1%, net loss $1.5M, operating cash flow $69.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.6M | +17% | +61% |
| Operating profit | −$5.2M | — | — |
| Net earnings | −$1.5M | — | — |
| Operating cash flow | $69.4M | — | — |
What changed
Revenue was $23.6M in Q4 2025, up 61% year over year and up 17% from the previous quarter. Cloud services was the largest line at 82% of revenue.
Gross margin was 59.0%, up 8.6 points from a year earlier. Operating costs exceeded revenue by $5.2M, an operating margin of -22.1%. Operating expenses grew 107% against revenue growth of 61%. The fastest-growing cost line was General & admin (+155%). The quarter ended with a net loss of $1.5M, narrower than the previous quarter's $15.8M loss. Non-operating items added $1.5M, -40% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $69.4M. Non-cash charges added back $8.1M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items added $54.7M. Capital expenditures of $121.9M exceeded it, leaving free cash flow of −$52.5M.
Questions
What was WhiteFiber's revenue in the fourth quarter 2025?
WhiteFiber (WYFI) reported revenue of $23.6M for the fourth quarter 2025 (Q4 2025), +61% from a year earlier and +17% from the quarter before.
Was WhiteFiber profitable in the fourth quarter 2025?
Operating loss was $5.2M (-22.1% of revenue) and net loss $1.5M.
Source: WhiteFiber 10-K on SEC EDGAR.