WhiteFiber, Inc. Reports Second Quarter 2025 Results
WhiteFiber (Nasdaq: WYFI), an AI infrastructure and HPC solutions provider, reported its Q2 2025 financial results, marking its first earnings release as a public company following its August IPO. The company achieved total revenue of $18.7 million, up 48% year-over-year, with cloud services revenue of $16.6 million (+33% YoY) and colocation services revenue of $1.7 million.
Key developments include the completion of its IPO raising $183 million, with Bit Digital (Nasdaq: BTBT) maintaining 71.5% ownership, acquisition of a one-million-square-foot data center in North Carolina (NC-1), and securing a CAD $60 million debt facility with Royal Bank of Canada. The company also began installing wafer-scale systems for Cerebras under a 5MW IT load contract.
Financial metrics show gross profit of $11.5 million and Adjusted EBITDA of $3.3 million, though the company reported a net loss of $8.8 million for the quarter.
WhiteFiber (Nasdaq: WYFI), fornitore di infrastrutture AI e soluzioni HPC, ha divulgato i risultati finanziari del secondo trimestre 2025, segnando la sua prima comunicazione sugli utili come società quotata dopo l’IPO di agosto. L’azienda ha registrato un fatturato totale di 18,7 milioni di dollari, in crescita del 48% rispetto all’analogo periodo dell’anno precedente, con ricavi da servizi cloud di 16,6 milioni (+33% YoY) e ricavi da servizi di colocazione di 1,7 milioni.
Tra i principali sviluppi: completamento dell’IPO che ha raccolto 183 milioni di dollari, con Bit Digital (Nasdaq: BTBT) che mantiene una proprietà del 71,5%, l’acquisizione di un data center da un milione di piedi quadrati in North Carolina (NC-1) e l’ottenimento di una facility di debito CAD 60 milioni con la Royal Bank of Canada. L’azienda ha inoltre iniziato l’installazione di sistemi wafer-scale per Cerebras nell’ambito di un contratto di carico IT da 5 MW.
Le metriche finanziarie mostrano un utile lordo di 11,5 milioni di dollari e un EBITDA rettificato di 3,3 milioni, sebbene la società abbia riportato una perdita netta di 8,8 milioni di dollari per il trimestre.
WhiteFiber (Nasdaq: WYFI), proveedor de infraestructuras de IA y soluciones HPC, informó sus resultados financieros del segundo trimestre de 2025, marcando su primera entrega de resultados como empresa pública tras su OPV en agosto. La compañía logró un ingreso total de 18,7 millones de dólares, un 48% más que en el año anterior, con ingresos por servicios en la nube de 16,6 millones (+33% interanual) y ingresos por servicios de colocación de 1,7 millones.
Entre los desarrollos clave se destacan la finalización de su OPI que recaudó 183 millones de dólares, con Bit Digital (Nasdaq: BTBT) manteniendo un 71,5% de propiedad, la adquisición de un centro de datos de un millón de pies cuadrados en Carolina del Norte (NC-1) y la obtención de una facilidad de deuda de CAD 60 millones con Royal Bank of Canada. La compañía también inició la instalación de sistemas de escala wafers para Cerebras bajo un contrato de carga informática de 5 MW.
Las métricas financieras muestran un beneficio bruto de 11,5 millones de dólares y un EBITDA ajustado de 3,3 millones, aunque la empresa reportó una pérdida neta de 8,8 millones de dólares para el trimestre.
WhiteFiber (Nasdaq: WYFI), AI 인프라 및 HPC 솔루션 제공업체는 2025년 2분기 실적을 발표했으며, 8월 상장 이후 공개기업으로서의 첫 실적 발표가 되었습니다. 회사는 총 매출 1870만 달러를 달성했으며 전년 대비 48% 증가했고, 클라우드 서비스 매출은 1660만 달러(전년비 +33%), 콜로케이션 서비스 매출은 170만 달러였습니다.
주요 개발로는 1억8300만 달러를 모은 IPO의 완료, Bit Digital(Nasdaq: BTBT)가 71.5% 지분을 유지, 노스캐롤라이나 주에 100만 제곱피트 규모의 데이터 센터(NC-1) 인수, Royal Bank of Canada와 CAD 6000만 달러의 부채 시설 확보가 포함됩니다. 또한 회사는 5MW IT 부하 계약으로 Cerebras를 위한 웨이퍼 스케일 시스템 설치를 시작했습니다.
총이익은 1150만 달러, 조정 EBITDA는 330만 달러로 나타났으나, 분기 순손실은 880만 달러였습니다.
WhiteFiber (Nasdaq: WYFI), fournisseur d’infrastructures IA et de solutions HPC, a publié ses résultats financiers du deuxième trimestre 2025, marquant son premier communiqué de résultats en tant que société cotée après son IPO en août. La société a réalisé un chiffre d’affaires total de 18,7 millions de dollars, en hausse de 48% sur un an, avec des recettes de services cloud de 16,6 millions (+33% YoY) et des revenus de services de colocation de 1,7 million.
Parmi les développements clés : l’achèvement de son IPO ayant levé 183 millions de dollars, Bit Digital (Nasdaq: BTBT) conservant 71,5% de propriété, l’acquisition d’un data center d’un million de pieds carrés en Caroline du Nord (NC-1), et l’obtention d’une ligne de crédit de CAD 60 millions avec la Banque Royale du Canada. L’entreprise a également commencé à installer des systèmes wafer-scale pour Cerebras dans le cadre d’un contrat de charge IT de 5 MW.
Les indicateurs financiers montrent un bénéfice brut de 11,5 millions de dollars et un EBITDA ajusté de 3,3 millions, bien que la société ait enregistré une perte nette de 8,8 millions de dollars pour le trimestre.
WhiteFiber (Nasdaq: WYFI), ein Anbieter von KI-Infrastruktur- und HPC-Lösungen, gab seine Finanzergebnisse für das zweite Quartal 2025 bekannt und markiert damit die erste Gewinnmitteilung als börsennotiertes Unternehmen nach dem IPO im August. Das Unternehmen erzielte einen Gesamtumsatz von 18,7 Mio. USD, ein Anstieg von 48% gegenüber dem Vorjahr, mit Cloud-Service-Umsätzen von 16,6 Mio. USD (+33% YoY) und Colocation-Service-Umsätzen von 1,7 Mio. USD.
Zu den wichtigsten Entwicklungen gehört der Abschluss des IPO, das 183 Mio. USD einbrachte, wobei Bit Digital (Nasdaq: BTBT) weiterhin 71,5% Eigentum behält, der Erwerb eines Rechenzentrums mit einer Fläche von einer Million Quadratfuß in North Carolina (NC-1) und die Sicherung einer CAD 60 Mio. Kreditfazilität bei der Royal Bank of Canada. Das Unternehmen begann außerdem mit der Installation wafer-skalierter Systeme für Cerebras im Rahmen eines 5-MW-IT-Lastvertrags.
Die Finanzkennzahlen zeigen eine Bruttomarge von 11,5 Mio. USD und EBITDA-adjusted von 3,3 Mio. USD, obwohl das Unternehmen im Quartal einen Nettoverlust von 8,8 Mio. USD verzeichnete.
WhiteFiber (Nasdaq: WYFI)، مزوّد بنية تحتية للذكاء الاصطناعي وحلول الحوسبة عالية الأداء، أعلن عن نتائجه المالية للربع الثاني 2025، وهو يعكس أول بيان أرباح كشركة عامة بعد طرحها للاكتتاب في أغسطس. حققت الشركة إيرادات إجمالية قدرها 18.7 مليون دولار، بارتفاع بنسبة 48% على أساس سنوي، مع إيرادات خدمات سحابية قدرها 16.6 مليون دولار (+33% سنوي) وإيرادات خدمات الاستضافة بمقدار 1.7 مليون دولار.
من التطورات الرئيسية: إكمال عملية الطرح الأولي التي جمعت 183 مليون دولار، مع احتفاظ Bit Digital (Nasdaq: BTBT) بملكية بنسبة 71.5%، وشراء مركز بيانات مساحته مليون قدم مربع في نورث كارولاينا (NC-1)، وتأمين تسهيل دين بقيمة CAD 60 مليون مع بنك Royal Bank of Canada. كما بدأت الشركة في تركيب أنظمة على قياس شرائح الراتينج wafer-scale لـ Cerebras بموجب عقد تحميل IT بقوة 5 ميغاوات.
تشير المقاييس المالية إلى هامش إجمالي قدره 11.5 مليون دولار وEBITDA معدل معدلاً قدره 3.3 مليون دولار، مع ذلك قصرت الشركة صافي خسارة قدرها 8.8 مليون دولار للربع.
WhiteFiber（纳斯达克股票代码：WYFI），一家 AI 基础设施和高性能计算解决方案提供商，公布了 2025 年第二季度业绩，标志着其在 8 月上市后的首次公开披露。公司实现 总收入 1870 万美元，同比增长 48%，云服务收入为 1660 万美元（YoY 增长 33%），机房托管服务收入为 170 万美元。
主要进展包括完成 IPO 募资 1.83 亿美元、Bit Digital（纳斯达克股票代码：BTBT）保持 71.5% 的所有权、收购位于北卡罗来纳州的一个百万平方英尺数据中心（NC-1），并与加拿大皇家银行获得 6000 万加元的债务融资额度。公司还在为 Cerebras 安装晶圆级系统，执行一个 5 兆瓦 IT 负载的合同。
财务指标显示毛利润 1150 万美元，调整后的 EBITDA 为 330 万美元，但本季度净亏损为 880 万美元。
- Revenue growth of 48% year-over-year to $18.7 million
- Strong cloud services gross margin of 61%
- Successful IPO raising $183 million in gross proceeds
- Secured CAD $60 million debt facility for future expansion
- Strategic acquisition of one-million-square-foot NC-1 data center property
- Net loss of $8.8 million compared to $1.9 million profit in Q2 2024
- Adjusted EBITDA declined to $3.3 million from $7.0 million year-over-year
- Operating expenses increased significantly to $27.8 million from $10.2 million YoY
Insights
WhiteFiber reports mixed Q2 results with strong revenue growth but declining EBITDA amid strategic expansion following recent IPO.
WhiteFiber's Q2 2025 results present a mixed financial picture with notable growth countered by profitability challenges. Revenue increased
However, beneath the revenue growth lies concerning profitability metrics. Adjusted EBITDA declined significantly to
WhiteFiber's strategic positioning is taking shape following its August IPO, which raised
The company's operational setup as a pure-play AI infrastructure provider could be valuable in the current market where AI compute demand remains robust. However, investors should monitor whether WhiteFiber can convert its strategic expansions into improved profitability metrics in upcoming quarters, as the current trend shows revenue growth being offset by substantially higher operating costs.
Second Quarter 2025 Highlights
- Total revenue of
$18.7 million 48% year-over-year. - Cloud services revenue of
$16.6 million 33% year-over-year, with gross margin of61% . - Colocation services revenue of
$1.7 million 60% . - Total gross profit of
$11.5 million $8.0 million - Adjusted EBITDA of
$3.3 million $7.0 million
Corporate Developments
- Initial Public Offering: On August 8, 2025, WhiteFiber completed its IPO at
$17 $183 million 71.5% of WhiteFiber following the IPO. - NC-1 Acquisition: During the second quarter, WhiteFiber acquired a one-million-square-foot data center property in
North Carolina with significant expansion potential. Pre-construction has commenced for the initial 24-megawatt phase, which remains on track for completion in the first quarter of 2026. MTL-3 Deployment: WhiteFiber began installation of wafer-scale systems for Cerebras under a 5MW IT load contract signed in February 2025. Revenue from this deployment is expected to commence in the fourth quarter of 2025.- Financing Flexibility: Entered into a debt facility with Royal Bank of Canada during the second quarter to support the development of datacenters. The facility provides up to CAD
$60 million $43.8
Management Commentary
Sam Tabar, Chief Executive Officer of WhiteFiber, said:
"This is our first earnings release as a standalone public company following our IPO in August. The demand environment for AI infrastructure remains exceptionally strong, with enterprises and research institutions requiring more high-density, reliable capacity to support large-scale model training and deployment.
"WhiteFiber is well positioned to capture this demand today and into the future as the market evolves. We are one of the few pure-play providers of AI infrastructure that integrates both GPU cloud services and the underlying data center capacity. This combination enables us to deliver performance, reliability, and efficiency at scale as our customers' needs change and expand over time.
"In the second quarter, Cloud remained our largest revenue contributor, growing 33 percent year-over-year with strong margins, while our colocation business expanded with the addition of two new data center sites, NC-1 and
Summary of Financial Results
THE WHITEFIBER BUSINESS OF BIT DIGITAL, INC. COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited; Expressed in US dollars, except for the number of shares) | |||||||||||||||
| |||||||||||||||
For the three months ended | For the six months ended | ||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Revenue | $ | 18,662,249 | $ | 12,589,701 | $ | 35,423,511 | $ | 20,759,033 | |||||||
Operating costs and expenses | |||||||||||||||
Cost of revenue (exclusive of depreciation shown below) | (7,201,168) | (4,595,301) | (13,818,011) | (7,752,628) | |||||||||||
Depreciation and amortization expenses | (5,140,713) | (4,322,291) | (8,970,357) | (7,203,818) | |||||||||||
General and administrative expenses | (15,476,832) | (1,261,489) | (19,754,485) | (2,458,408) | |||||||||||
Total operating expenses | (27,818,713) | (10,179,081) | (42,542,853) | (17,414,854) | |||||||||||
(Loss) income from operations | (9,156,464) | 2,410,620 | (7,119,342) | 3,344,179 | |||||||||||
Total other income, net | 769,003 | 86,679 | 754,320 | 169,971 | |||||||||||
(Loss) Income before provision for income taxes | (8,387,461) | 2,497,299 | (6,365,022) | 3,514,150 | |||||||||||
Income tax expenses | (445,931) | (552,234) | (1,040,534) | (742,575) | |||||||||||
Net (loss) income | $ | (8,833,392) | $ | 1,945,065 | $ | (7,405,556) | $ | 2,771,575 | |||||||
Other comprehensive income | |||||||||||||||
Foreign currency translation adjustment | 3,428,209 | - | 2,923,603 | - | |||||||||||
Total comprehensive (loss) income | (5,405,183) | 1,945,065 | (4,481,953) | 2,771,575 | |||||||||||
The accompanying notes are an integral part of these combined financial statements. |
Segment Level Detail | |||||||||||
| |||||||||||
Three Months Ended June 30, 2025 | |||||||||||
| |||||||||||
Cloud | Colocation | Total | |||||||||
Revenue from external customers | $ | 16,595,315 | $ | 1,729,004 | $ | 18,324,319 | |||||
| |||||||||||
Reconciliation of revenue | |||||||||||
Other revenue (a) | 337,930 | ||||||||||
Total consolidated revenue | 18,662,249 | ||||||||||
| |||||||||||
Less: | |||||||||||
Electricity costs | 598,748 | 270,003 | 868,751 | ||||||||
Datacenter lease expense | 1,365,599 | 156,740 | 1,522,339 | ||||||||
GPU lease expense | 3,749,471 | - | 3,749,471 | ||||||||
Wage expense | - | 169,543 | 169,543 | ||||||||
Other segment items (b) | 799,470 | 91,594 | 891,064 | ||||||||
| |||||||||||
Segment gross profit | $ | 10,082,027 | $ | 1,041,124 | $ | 11,123,151 | |||||
(a) | Other revenue is primarily attributable to Equipment Leasing revenue and is therefore not included in the total for segment gross profit. | ||
(b) | All amounts included within Other segment items are individually insignificant. | ||
Reconciliations of Adjusted EBITDA to the most comparable
For the Three Months | For the Six Months | ||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Reconciliation of non-GAAP income (loss) from operations: | |||||||||||||||
Net (loss) income | $ | (8,833,392) | $ | 1,945,065 | $ | (7,405,556) | $ | 2,771,575 | |||||||
Depreciation and amortization expenses | 5,140,713 | 4,322,291 | 8,970,357 | 7,203,818 | |||||||||||
Income tax expenses | 445,931 | 552,234 | 1,040,534 | 742,575 | |||||||||||
EBITDA | (3,246,748) | 6,819,590 | 2,605,335 | 10,717,968 | |||||||||||
Adjustments: | |||||||||||||||
Share-based compensation expenses | 6,529,582 | 170,857 | 6,667,595 | 262,015 | |||||||||||
Adjusted EBITDA | $ | 3,282,834 | $ | 6,990,447 | $ | 9,272,930 | $ | 10,979,983 | |||||||
Conference Call and Webcast
WhiteFiber will host a conference call to discuss its results at 4:30 p.m. ET on September 17, 2025. The call can be accessed by dialing (800) 330-6730 (passcode:323226). A webcast will also be available in the Investor Relations section of WhiteFiber's website at https://www.whitefiber.com/investors#upcoming-events. A replay will be available following the call.
About WhiteFiber, Inc.
WhiteFiber is a provider of artificial intelligence ("AI") infrastructure solutions. WhiteFiber owns high-performance computing data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. For more information, visit www.whitefiber.com. Follow us on LinkedIn and X @WhiteFiber.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities laws. Such statements include, but are not limited to, statements about our ability to capture demand in the market, prospective customer demand, the timing for completion of the initial 24-megawatt phase at our NC-1 facility, the expected timing for revenue generation at
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the forward-looking statements contained herein are reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of new information, future developments or otherwise occurring after the date of this communication.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measure: adjusted EBITDA. The presentation of this financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We use adjusted EBITDA for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We define adjusted EBITDA, a non-GAAP financial measure, as net (loss) income before income tax expenses, depreciation and amortization, as adjusted to exclude share-based compensation expenses. We believe that adjusted EBITDA provides helpful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business operating results. We believe that both management and investors benefit from referring to adjusted EBITDA in assessing our performance and when planning, forecasting, and analyzing future periods. Adjusted EBITDA also facilitates management's internal comparisons to our historical performance and comparisons to our competitors' operating results. We believe adjusted EBITDA is useful to investors both because they (i) allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (ii) are used by our institutional investors and the analyst community to help them analyze the health of our business.
The items excluded from adjusted EBITDA may have a material impact on our financial results. Accordingly, adjusted EBITDA is presented as supplemental disclosure and should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP.
There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with GAAP. We refer investors to the reconciliation adjusted EBITDA to net (loss) income included below consolidated results.
Investor Contact
WhiteFiber
IR@whitefiber.com
Media Contact
JAM Strategic Communications
joanne@jam-comms.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/whitefiber-inc-reports-second-quarter-2025-results-302559535.html
SOURCE WhiteFiber, Inc.
FAQ
What were WhiteFiber's (WYFI) Q2 2025 earnings results?
How much did WhiteFiber raise in its IPO and who is the majority owner?
What are WhiteFiber's major business segments and their performance?
What major acquisitions or expansions did WhiteFiber announce in Q2 2025?
How is WhiteFiber financing its expansion plans?
