White Fiber (WYFI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 54–54.6% year-over-year to $28.8 million, driven by cloud services and colocation expansion.

• NC-1 facility transitioned to active customer deployment, with 40 MW contracted IT load expected to reach full run-rate billing by end of August 2026.

• Signed new multi-year cloud services agreements totaling over $540 million, offsetting major contract terminations and expanding contracted revenue base.

• Adjusted EBITDA for Q2 2026 was $5.5 million, up from $3.3 million in Q2 2025, reflecting improved operational performance.

• Net loss for Q2 2026 was $15.0 million, or $0.39 per diluted share, reflecting higher depreciation, interest, and operating expenses.

Financial highlights

• Q2 2026 revenue: $28.8 million (Q2 2025: $18.7 million); cloud services: $23.8 million; colocation: $4.7 million.

• Gross profit (excl. D&A): $17.1 million (59–59.4% margin), up from $11.5 million (51% margin) year-over-year.

• Adjusted EBITDA: $5.5 million (19.2% margin), up from $3.3 million in Q2 2025.

• Net loss: $15.0 million (Q2 2025: $8.8 million); operating expenses rose to $38.1 million, including a $5.0 million software impairment.

• Cash and cash equivalents at June 30, 2026: $56.1 million; total assets: $880.9 million.

Outlook and guidance

• Expect full 40 MW NC-1 contracted load to reach run-rate billing by end of August 2026.

• Management targets 70 MW of data center capacity by Q4 2026, with a 1,500 MW pipeline under review.

• Anticipate Duke Energy to provide a schedule for the next 45 MW at NC-1 soon, with strong demand for this tranche.

• Evaluating expansion at MTL-2 (5 MW) and MTL-1, with ongoing customer discussions.

• Commercial launch of cross-data-center networking solution targeted for September 30, 2026.