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WhiteFiber, Inc.
(NASDAQ:WYFI)
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Rating:53Neutral
Price Target:
$11.00
▼(-46.08% Downside)
Action:Reiterated
Date:10/15/26
WYFI’s score is pulled down most by weak recent fundamentals (TTM revenue decline and large operating/net losses) and bearish technicals (price far below key moving averages with negative MACD). Offsetting this are improving cash generation (positive operating cash flow and strong TTM free cash flow) and a relatively encouraging earnings call featuring strong YoY revenue growth, large contracted backlog/deferred revenue, and multiple new multiyear deals—though financing and execution risks remain central.
Positive Factors
Contracted Growth Visibility
The large contracted backlog provides meaningful revenue visibility beyond the current quarter and supports longer-term utilization of data-center capacity. Multiyear customer commitments can improve planning, reinforce market credibility, and create a foundation for recurring growth as deployments reach service.
Negative Factors
Unstable Profitability
Severe operating and net losses show that strong gross profit has not yet translated into sustainable earnings. Continued negative margins can consume financial resources, constrain reinvestment, and make the company more dependent on successful scaling to absorb infrastructure and financing costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted Growth Visibility
The large contracted backlog provides meaningful revenue visibility beyond the current quarter and supports longer-term utilization of data-center capacity. Multiyear customer commitments can improve planning, reinforce market credibility, and create a foundation for recurring growth as deployments reach service.
Read all positive factors
WhiteFiber, Inc. Key Performance Indicators (KPIs)
WhiteFiber, Inc. (WYFI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$497.64M
Dividend YieldN/A
Average Volume (3M)1.51M
Price to Earnings (P/E)―
Beta (1Y)5.30
Revenue Growth-93.81%
EPS Growth14.04%
CountryUS
Employees83
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.05
Shares Outstanding45,281,437
10 Day Avg. Volume1,996,585
30 Day Avg. Volume1,512,760
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.03
Price to Sales (P/S)6.30
P/FCF Ratio-2.24
Enterprise Value/Market Cap3.02
Enterprise Value/Revenue22.83
Enterprise Value/Gross Profit36.87
Enterprise Value/Ebitda-97.35
Forecast
1Y Price Target
$36.50Price Target Upside78.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.02
Revenue Forecast (FY)$135.96M
WhiteFiber, Inc. Business Overview & Revenue Model
Company Description
WhiteFiber, Inc. specializes in delivering foundational infrastructure solutions for artificial intelligence. It achieves this by developing and operating high-performance data centers and cloud platforms, all specifically optimized for graphical ...
WhiteFiber, Inc. Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational progress and commercial traction: significant YoY revenue growth (+54%), a major 10-year $865M NC1 contract moved into active deployment, multiple new multiyear cloud contracts (>$540M aggregate) and demonstrated technology advances (111.2 Tbps cross-DC demo). Adjusted EBITDA improved materially (~+66.7%) and deferred revenue ($143M) and project financing ($83.2M) provide revenue visibility and funding runway. However, meaningful challenges remain: a $15M net loss, margin compression, a prior customer termination that produced bad-debt and related expenses, slower-than-expected financing execution for NC1 (risk to capital recycling), and early-stage commercialization risk for the new networking tech. On balance the positives — contract wins, revenue growth, operational ramp and pipeline/financing progress — outweigh the negatives, though execution and financing milestones remain critical.Positive Updates
Strong Revenue Growth
Q2 revenue of $28.8M, up 54% year-over-year from $18.7M. Cloud services revenue $23.8M (up ~43% YoY from $16.6M). Colocation revenue $4.7M (up ~176% YoY from $1.7M).
Negative Updates
Net Loss and Ongoing Non-Cash/Financing Costs
Net loss of $15M (loss per diluted share $0.39) in the quarter, driven in part by higher depreciation and interest expense from infrastructure expansion.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Q2 revenue of $28.8M, up 54% year-over-year from $18.7M. Cloud services revenue $23.8M (up ~43% YoY from $16.6M). Colocation revenue $4.7M (up ~176% YoY from $1.7M).
Read all positive updates
Company Guidance
The company guided that NC1 will reach full 40 MW run-rate billing by the end of August (≈20 MW available and billing today), with a near-term delivery schedule expected for a next 45 MW tranche and a utility study evaluating an additional ~200 MW that could bring NC1 to ~300 gross MW over time; NTL2 will be developed to ~5 MW gross targeting year-end, MTL1/MTL3 remain active with modest expansion potential, and a cross‑data‑center product that demonstrated 111.2 Tbps with sub‑millisecond latency across 83 km is targeting commercial launch by September. On cloud, management announced >$540 million of new multiyear contracts (cloud portfolio expected to generate >$200 million of annualized revenue when fully deployed) including Base10 (3‑year, 1,392 NVIDIA B300 GPUs, ~ $165M, service target Nov), Prime Intellect (3‑year, 576 Ver Rubin 200 GPUs, ~ $108M, service target Q2‑2027), a 5‑year Paris deployment (> $160M, ready end‑Sept) and a 5‑year Iceland deal (576 V300 GPUs, ~$87.5M); they also secured exclusive access to 100 MW of liquid‑cooled colocation capacity from Krambu beginning in 2027 and highlighted growing traction in capital‑efficient managed services. Financially, Q2 revenue was $28.8M (+54% YoY) — cloud $23.8M, colocation $4.7M — with gross profit excl. D&A of $17.1M (≈59% margin), adjusted EBITDA of ~$5.5M, net loss of $15M (−$0.39/share), cash of $56.1M, deferred revenue of ≈$143M, ~$83.2M of project/bridge financings added in the quarter, and quarter items including ≈$12.3M of revenue related to a prior customer termination, ~$4M of related cost of revenue and ~$2.2M of bad debt in G&A.WhiteFiber, Inc. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 65.90M | 79.16M | 47.64M | 0.00 |
| Gross Profit | 40.80M | 49.13M | 10.91M | 0.00 |
| EBITDA | -15.45M | -2.33M | 18.76M | -1.22M |
| Net Income | -29.44M | -24.68M | 1.37M | -1.23M |
Balance Sheet | ||||
| Total Assets | 880.89M | 651.35M | 229.13M | 78.93M |
| Cash, Cash Equivalents and Short-Term Investments | 56.06M | 114.44M | 11.67M | 652.57K |
| Total Debt | 43.81M | 23.40M | 13.38M | 6.22M |
| Total Liabilities | 543.51M | 168.89M | 59.41M | 29.28M |
| Stockholders Equity | 337.39M | 482.46M | 169.73M | 49.65M |
Cash Flow | ||||
| Free Cash Flow | -340.56M | -222.75M | -60.28M | -364.15K |
| Operating Cash Flow | 141.59M | 45.66M | 18.75M | 35.78K |
| Investing Cash Flow | -454.92M | -267.25M | -80.03M | -399.93K |
| Financing Cash Flow | 352.97M | 323.77M | 76.44M | 368.89K |
WhiteFiber, Inc. Technical Analysis
Negative
20.40
Price Trends
17.25
Negative
23.60
Negative
21.26
Negative
Market Momentum
-2.31
Positive
32.01
Neutral
16.85
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WYFI, the sentiment is Negative. The current price of 20.4 is above the 20-day moving average (MA) of 13.96, above the 50-day MA of 17.25, and below the 200-day MA of 21.26, indicating a bearish trend. The MACD of -2.31 indicates Positive momentum. The RSI at 32.01 is Neutral, neither overbought nor oversold. The STOCH value of 16.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WYFI.
WhiteFiber, Inc. Risk Analysis
WhiteFiber, Inc. disclosed 114 risk factors in its most recent earnings report. WhiteFiber, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WhiteFiber, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $4.59B | 8.17 | 12.75% | ― | 12.29% | 2348.25% | |
53 Neutral | $497.64M | -222.47 | -9.03% | ― | -93.81% | 14.04% | |
50 Neutral | $3.52B | -2.96 | -156.28% | ― | 20.30% | -525.74% | |
49 Neutral | $5.90B | -11.90 | -28.04% | ― | 289.85% | -43.01% | |
47 Neutral | $1.07B | -2.90 | -47.06% | ― | 22.57% | -3928.75% |
* Technology Sector Average
WYFI
WhiteFiber, Inc.
11.87
-21.91
-64.86%
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3.71
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23.86
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APLD
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20.39
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-40.76%
CIFR
Cipher Digital
8.87
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-54.72%
VEEA
Veea
5.61
-8.15
-59.22%
WhiteFiber, Inc. Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
WhiteFiber Updates Investors on AI Data Center Strategy
Neutral
Sep 14, 2026
In September 2026, WhiteFiber, Inc. furnished an investor presentation outlining its data center and cloud solutions for AI workloads, emphasizing its strategic focus, projected financial performance, and operating model. The materials, provided v...
Business Operations and StrategyPrivate Placements and Financing
WhiteFiber Upsizes Convertible Notes, Reshaping Capital Structure
Positive
Aug 21, 2026
On August 21, 2026, WhiteFiber, Inc. closed an upsized $310 million private placement of 5.00% Convertible Senior Notes due 2032, with a 25% conversion premium and flexible settlement in cash, shares or a mix, alongside standard covenants and deta...
Business Operations and StrategyM&A Transactions
WhiteFiber Expands North Carolina Data Center Footprint
Positive
Aug 17, 2026
On August 16, 2026, WhiteFiber, through its Enovum Data Centers subsidiary, agreed to purchase two industrial properties in Yadkin County, North Carolina, from Unifi Manufacturing for $60 million in cash, with closing targeted for the fourth quart...
Business Operations and StrategyExecutive/Board Changes
WhiteFiber Reshapes Finance Leadership and Board Governance
Positive
Aug 3, 2026
On July 30, 2026, WhiteFiber, Inc. announced a broad management and board reshuffle effective August 1, 2026, highlighted by the resignation of Erke Huang as chief financial, principal financial and principal accounting officer and director, and h...
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.