Start here if you're new
what it is
WhiteFiber rents out AI computing capacity, data center space, and related infrastructure so customers do not have to build it themselves.
how it gets paid
Last year Whitefiber made $48M in revenue. cloud-based hpc gpu services was the main engine at $16.8M, or 35% of sales.
what just happened
Revenue jumped to $56M, but WhiteFiber still lost money and the numbers conflict across sources.
At a glance
n/a balance sheet
1.6x trailing p/e — the market's not buying it — or you found a deal
0.8% return on capital — nothing to write home about
$12.00 fy2025 eps est
$48M fy2024 rev est
What they do
WhiteFiber rents out AI computing capacity, data center space, and related infrastructure so customers do not have to build it themselves.
The pitch is speed. Colocation → renting space and power in someone else’s data center → so what: you get AI capacity without waiting to build your own site. The latest quarter posted 60.6% gross margin, per the company report, which says customers are paying up for ready-made infrastructure.
How they make money
$48M
annual revenue
cloud-based hpc gpu services
$16.8M
colocation
$12.0M
hosting
$9.6M
storage
$4.8M
networking, observability, and security
$4.8M
The products that matter
data center compute services
AI Infrastructure Solutions
$20.2M · 42% of revenue
this segment generated $20.2M and grew 64% in Q3 2025. that's the growth story the valuation is underwriting.
+64%
renting data center space
Colocation Services
$27.8M · 58% of revenue
this is the larger $27.8M business today, and it is tied to an $865M, 10-year Nscale agreement signed in december 2025. if that contract scales into revenue, this segment matters a lot more.
$865M contract
Key numbers
1.6x
trailing p/e
P/E → price divided by earnings → so what: the stock looks absurdly cheap, but only if you trust the earnings number behind it.
36.0%
operating margin
Operating margin → profit after running the business → so what: the core operation looks fat on paper, which clashes with the reported quarterly loss.
60.6%
gross margin
Gross margin → sales left after direct service costs → so what: customers are paying a premium for WhiteFiber's infrastructure in the latest quarter.
$230.0M
convert notes
Convertible notes → debt that can turn into stock → so what: WhiteFiber raised cash, but you may get diluted later.
Financial health
n/a
strength
- balance sheet grade n/a
- net profit margin 2026.0% — keeps 2026 cents of every dollar in revenue
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for WYFI right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue jumped to $56M, but WhiteFiber still lost money and the numbers conflict across sources.
The latest quarter showed 176% vs. prior year revenue growth and 60.6% gross margin. But EPS was -$0.79, which clashes with the ultra-cheap earnings multiple shown elsewhere.
$56M
revenue
$0.79
eps
60.6%
gross margin
the number that mattered
$56M matters because it is larger than the $48M full-year revenue estimate shown in another source, which tells you the data set is messy.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is an AI infrastructure valuation without AI infrastructure economics.
med
valuation is far ahead of the income statement
The stock trades at 10.7x sales versus a 1.9x peer average, while the company posts a -34.5% profit margin. That gap is the entire risk case.
If growth slows before margins improve, multiple compression does the damage fast.
med
the Nscale contract now has to become real revenue
An $865M, 10-year agreement is large relative to a $48M revenue base. That creates upside if execution is clean and credibility risk if reported numbers do not start reflecting it.
When one contract can reshape the story, delays hit both growth expectations and investor trust.
med
convertible financing can dilute you later
The $230M convertible notes offering closed in january 2026. For a company with a ~$603M market cap, that is meaningful balance-sheet support paired with meaningful future dilution risk.
You may get the growth capital. You may also own a smaller slice of the company next.
med
coverage is thin and some fields conflict
This snapshot lacks a composite score, balance-sheet grade, institutional ownership detail, and target data. One margin field even shows 2026.0%, which conflicts with the stated loss profile.
Less clean data means more room for narrative to outrun evidence.
a forced reset in expectations would hit this stock through both the multiple and the financing story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
q4 2025 earnings on march 26, 2026
Last quarter missed EPS by $0.345 and the stock fell 12.6%. You need to see whether revenue growth is finally translating into less red ink.
contract follow-through
first visible contribution from the $865M Nscale agreement
A 10-year deal sounds impressive because it is impressive. The next step is simpler: show it in reported revenue and backlog commentary.
capital structure
what the $230M convertibles mean for dilution
Watch the terms, conversion implications, and whether new capital actually narrows the loss profile. Cash raised without operating progress is just a longer runway.
unit economics
profit margin versus revenue growth
Revenue can grow 64% and still disappoint if the margin stays near -34.5%. The metric to watch next is not just sales. It is whether losses shrink as sales rise.
Analyst rankings
source: institutional data
Institutional activity
institutional ownership data for WYFI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$19
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive