WhiteFiber Q3 revenue rises 19% as NC-1 data center becomes fully operational in late September
WYFI•WhiteFiber’s third-quarter revenue rose 19% year over year to $24 million, while its net loss widened to $101.4 million, mainly due to an $80.8 million induced conversion expense. The company expects signed Cloud Services contracts to generate $365 million in annualized revenue at full deployment and targets that run rate by mid-2027.
1. Quarterly results
WhiteFiber said third-quarter results reflected a delayed ramp-up at its NC-1 data center, with full contracted capacity becoming operational only in late September. Colocation revenue rose sharply, driven by the MTL-3 data center and the start of revenue at NC-1.
2. Revenue outlook
The company expects signed Cloud Services contracts to generate $365 million in annualized revenue at full deployment and targets reaching that run rate by mid-2027. Cloud Services revenue included $3.4 million in additional termination fee revenue from a previously disclosed customer termination.
3. Development interest
WhiteFiber said customer interest in new North Carolina developments is broader and stronger than interest in NC-1 at a comparable stage.
