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Digi Power X
(NEO-L:DGX)
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Rating:56Neutral
Price Target:
C$4.00
▲(5.54% Upside)
Action:Reiterated
Date:08/24/26
The score is held back primarily by weak financial performance (persistent losses and negative recent operating/free cash flow) and limited valuation support (negative P/E and no dividend). These are partially offset by a more positive earnings-call outlook (first AI revenues, positive adjusted EBITDA, strong cash position and project progress) and a generally neutral technical setup.
Positive Factors
Early AI Revenue and EBITDA
Initial GPU revenue and positive adjusted EBITDA indicate commercial validation of the AI compute strategy. Sustained customer demand and expanding utilization could diversify the business beyond legacy operations and support operating leverage.
Negative Factors
Persistent Losses and Negative Margins
Revenue growth has not yet translated into sustainable profitability, showing that the operating model remains economically immature. Persistently negative gross and net margins could require continued investment before scale produces durable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Early AI Revenue and EBITDA
Initial GPU revenue and positive adjusted EBITDA indicate commercial validation of the AI compute strategy. Sustained customer demand and expanding utilization could diversify the business beyond legacy operations and support operating leverage.
Read all positive factors
Digi Power X (DGX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$265.66M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)2.63
Revenue Growth-23.84%
EPS Growth35.00%
CountryCA
Employees17
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)-0.51
Shares Outstanding101,393,360
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.86
Price to Sales (P/S)3.05
P/FCF Ratio-2.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.23
Revenue Forecast (FY)C$34.89M
Digi Power X Business Overview & Revenue Model
Company Description
Digi Power X Inc. is an AI infrastructure company that operates a vertically integrated portfolio of power assets and data centers across the United States. The company, formerly focused on cryptocurrency mining, now develops data centers and prov...
Digi Power X Earnings Call Summary
Earnings Call Date:Aug 14, 2026
(Q2-2026)
| Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call conveys meaningful progress: the company materially strengthened its balance sheet, recognized its first AI/GPU revenues, achieved a positive adjusted EBITDA, deployed substantial CapEx, and reports equipment and schedule progress at the Columbiana site. However, GAAP net losses persist, revenues remain modest and early-stage, and the business remains capital‑intensive with reliance on external financing and longer-term projects that carry execution and regulatory risk. On balance the highlights (strong cash position, asset build, first AI revenues, positive adjusted EBITDA, clear project progress and financing engagement) outweigh the lowlights, though execution and dilution risks remain.Positive Updates
Revenue and First AI/GPU Revenue Recognized
Q2 revenue of $6.6M; recognized first GPU bare-metal rental revenue of $1.1M from initial B200/B300 fleet (≈5 weeks of income) marking the company’s first AI revenues.
Negative Updates
GAAP Net Loss Despite Positive Adjusted EBITDA
Reported net loss of $14.4M for Q2 after depreciation and non-cash items, indicating heavy non-cash charges and that GAAP profitability has not yet been achieved.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and First AI/GPU Revenue Recognized
Q2 revenue of $6.6M; recognized first GPU bare-metal rental revenue of $1.1M from initial B200/B300 fleet (≈5 weeks of income) marking the company’s first AI revenues.
Read all positive updates
Company Guidance
Management's guidance focused on accelerating AI compute and data‑center revenue growth with concrete metrics: Q2 revenues were $6.6M (including $1.1M of GPU revenue from ~5 weeks of B200/B300 rentals), adjusted EBITDA was positive $3.3M (up $3.2M YoY) despite a net loss of $14.4M; cash was $142.4M at June 30 (≈$150M today) with working capital $131M (up ~$130M YoY), digital assets $14.3M, net fixed assets and equipment deposits $127.5M (↑447% YoY), total assets $279M vs $37M a year ago, no long‑term debt and ~ $110M CapEx deployed YTD. They reiterated targets of Phase 1 (15 MW) ready‑for‑service in Dec 2026 and Phase 2 (25 MW) by end‑Q1 2027, expect Q3 revenue to increase by >100% vs Q2, aim to exit 2027 with 10 MW of NeoCloud GPU capacity and to add ~40–50 MW colocation plus 8–10 MW GPU capacity in 2027, are pursuing debt financing (engaged Goldman Sachs), and noted prior U.S. Data Center fundraising at a $125M pre‑revenue valuation and ATM activity at roughly $7.25–$7.50/share to manage dilution.Digi Power X Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.83M | 34.79M | 37.00M | 26.11M | 24.19M | 24.95M |
| Gross Profit | -7.77M | -3.30M | -11.35M | -9.67M | -6.80M | 11.13M |
| EBITDA | -22.01M | -12.79M | 8.91M | -6.52M | 13.83M | 2.78M |
| Net Income | -30.28M | -28.85M | -6.80M | -21.89M | 4.33M | 289.35K |
Balance Sheet | ||||||
| Total Assets | 279.12M | 133.87M | 34.32M | 42.15M | 52.60M | 80.03M |
| Cash, Cash Equivalents and Short-Term Investments | 127.91M | 78.34M | 1.70M | 341.27K | 1.85M | 915.72K |
| Total Debt | 0.00 | 0.00 | 204.36K | 1.45M | 1.42M | 0.00 |
| Total Liabilities | 14.52M | 10.83M | 12.34M | 12.90M | 5.42M | 41.77M |
| Stockholders Equity | 264.60M | 123.04M | 21.70M | 29.25M | 47.17M | 70.20M |
Cash Flow | ||||||
| Free Cash Flow | -120.75M | -43.58M | -21.32M | 2.68M | -18.10M | -42.78M |
| Operating Cash Flow | -17.51M | -25.98M | -17.53M | 5.69M | -3.41M | -8.86M |
| Investing Cash Flow | -120.15M | -13.43M | 14.72M | -7.26M | -14.51M | -34.72M |
| Financing Cash Flow | 261.50M | 117.54M | 4.18M | 56.11K | 18.86M | 44.47M |
Digi Power X Technical Analysis
Positive
3.79
Price Trends
3.79
Positive
3.79
Negative
3.89
Negative
Market Momentum
<0.01
Positive
56.53
Neutral
74.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DGX, the sentiment is Positive. The current price of 3.79 is below the 20-day moving average (MA) of 3.79, above the 50-day MA of 3.79, and below the 200-day MA of 3.89, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 56.53 is Neutral, neither overbought nor oversold. The STOCH value of 74.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DGX.
Digi Power X Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$6.24B | 77.00 | 8.07% | ― | 4.05% | ― | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
56 Neutral | C$265.66M | -7.18 | -25.35% | ― | -23.84% | 35.00% | |
55 Neutral | C$120.22M | 80.51 | 1.68% | ― | 15.99% | ― | |
54 Neutral | C$170.39M | -19.05 | -3.18% | ― | -11.32% | 6.86% | |
47 Neutral | C$15.17M | -2.24 | 112.09% | ― | -32.68% | 70.60% | |
41 Neutral | C$5.84M | -0.56 | 70.08% | 714.29% | -15.68% | -47.54% |
* Utilities Sector Average
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Digi Power X
3.79
0.73
23.86%
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Digi Power X Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Digi Power X Posts First AI Compute Revenue and Secures $1.1 Billion in Contracted AI Data Center Sales
Positive
Aug 14, 2026
Digi Power X reported second-quarter 2026 revenue of about $6.6 million and a net loss of $14.4 million, while achieving positive adjusted EBITDA of $3.3 million and generating its first AI compute revenue from GPU bare-metal rentals. The company ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.