WhiteFiber Reports Q1 Earnings: Revenue Jumps 31% Year-Over-Year, EPS Misses Estimates

WhiteFiber, Inc. ( WYFI ) reported first-quarter earnings Thursday before the market opened. Here’s a rundown of the report. WhiteFiber ( WYFI ) stock is showing notable weakness. Why is WYFI stock falling? Q1 Highlights WhiteFiber ( WYFI ) reported a loss of 31 cents per share, missing the consensus estimate of a 28 cent-loss. In addition, it reported revenue of $21.92 million, beating the consensus estimate of $21.62 million, and representing a 31% year-over-year increase. Cloud services revenue totaled $16.8 million in the quarter, up 13.0% year-over-year from $14.8 million in the first quarter of 2025. Colocation services revenue increased 190.2% year-over-year to $4.8 million, driven by the commencement of operations at MTL-3 in October 2025. Cash and cash equivalents totaled $75.8 million as of March 31, along with restricted cash of $4.3 million. "WhiteFiber ( WYFI ) delivered a solid first quarter, with year-over-year revenue growth, strong gross margins, and positive adjusted EBITDA, while continuing to invest in the AI infrastructure platform we are building," the company said. WhiteFiber ( WYFI ) said NC-1 continued to advance through construction and commissioning during the quarter, while Duke Energy completed work required to deliver 54 megawatts of gross utility power to the site. The company said it remains focused on bringing the initial 40-megawatt IT load deployment into service under its long-term colocation agreement with Nscale. The company also said MTL-3 completed its first full quarter of operations supporting Cerebras. Subsequent to quarter-end, WhiteFiber ( WYFI ) completed the purchase of the facility. During the first quarter, WhiteFiber ( WYFI ) completed a $230 million private placement of 4.5% convertible senior notes due 2031. The notes were issued with an initial conversion price of $25.91 per share, representing a 27.5% premium to the company's share price at pricing. In March, WhiteFiber Iceland ehf. entered into a secured term loan facility with Landsbankinn hf. providing up to $20 million of available borrowings. Subsequent to quarter-end, the company drew $18 million under the facility. WhiteFiber ( WYFI ) also entered into an amended credit agreement with RBC subsequent to quarter-end providing for a CAD $28 million facility to support the acquisition of the MTL-3 facility, which closed in May 2026. Read Also: Stock Market Today: S&P 500, Dow Jones Futures Gain As Trump Clears NVDA's H200 Sales To China—Cisco Systems, Doximity, Grocery Outlet In Focus WhiteFiber Stock Retreats WYFI Price Action: At the time of publication, WhiteFiber ( WYFI ) shares are trading 11.62% lower at $23.89, according to data from Benzinga Pro. This illustration was generated using artificial intelligence via Midjourney.