WhiteFiber expects full contracted run-rate billing at NC-1 to be reached later this month
Company says strong demand for power at scale in 2027 is supporting late-stage pipeline opportunities
WhiteFiber is negotiating financing for NC-1 and says completion is subject to customary approvals and conditions
Overview
US AI infrastructure provider's Q2 revenue rose 54% yr/yr to $28.8 mln
Net loss widened to $15 mln, impacted by higher operating expenses and impairment charge
Company signed new multi-year cloud services deals worth over $540 mln in contract value
Result Drivers
NC-1 DATA CENTER LAUNCH - Co said revenue growth was driven by the move from construction to active customer deployment and initial billing at its NC-1 data center campus
CLOUD SERVICES CONTRACTS - New multi-year cloud services agreements, including deployments with Baseten and Prime Intellect, contributed to revenue momentum
CUSTOMER TERMINATION IMPACT - Cloud Services revenue included $12.3 mln from a previously disclosed customer termination
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the IT services & consulting peer group is "buy"
Wall Street's median 12-month price target for WhiteFiber Inc is $37.00, about 52.8% above its August 11 closing price of $24.22
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