WhiteFiber, Inc.
WYFI Nasdaq Finance Services Financials FY2024–FY2025
Last close · Oct 23, 2026
$9.98
5.4%
Revenue
Total sales reported in the income statement.
$79.2M
66.2%
vs prior year
Operating margin
Operating income as a share of revenue.
−33.9%
35.2 pts
Net income
Profit after all expenses, interest and tax.
−$24.7M
1,901.9%
Free cash flow
Cash from operations minus capital spending.
−$223M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−5.5%
Market cap
Last close times the latest diluted share count, so it is approximate.
$386M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$1.20 EPS (TTM)
What WhiteFiber, Inc. does
No business description yet.
- Legal name
- WhiteFiber, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 26, 2026
- Accession · CIK
- 0001213900-26-034341
0002042022
Revenue and margins
WhiteFiber, Inc. had $79.2M of revenue in fiscal 2025, up 66.2% on the year before.
FY24
Revenue $47.6M
FY25
Revenue $79.2M
Q1 '24
Revenue —
Q2 '24
Revenue $12.6M
Q3 '24
Revenue $12.3M
Q4 '24
Revenue $14.6M
Q1 '25
Revenue $16.8M
Q2 '25
Revenue $18.7M
Q3 '25
Revenue $20.2M
Q4 '25
Revenue $23.6M
Q1 '26
Revenue $21.9M
Q2 '26
Revenue $28.8M
FY24
Gross 56.4%
Operating 1.3%
Net 2.9%
FCF −126.5%
FY25
Gross 60.2%
Operating −33.9%
Net −31.2%
FCF −281.4%
Gross
Operating
Net
FCF
Q1 '24
Gross —
Operating —
Net —
FCF —
Q2 '24
Gross —
Operating 19.1%
Net 15.4%
FCF —
Q3 '24
Gross 54.5%
Operating −6.9%
Net −3.0%
FCF 137.0%
Q4 '24
Gross 50.5%
Operating −12.8%
Net −7.1%
FCF −507.2%
Q1 '25
Gross 58.7%
Operating 12.2%
Net 8.5%
FCF −316.7%
Q2 '25
Gross 59.6%
Operating −49.1%
Net −47.3%
FCF −453.8%
Q3 '25
Gross 63.1%
Operating −71.9%
Net −78.1%
FCF −160.8%
Q4 '25
Gross 59.0%
Operating −22.1%
Net −6.5%
FCF −222.8%
Q1 '26
Gross 58.4%
Operating −50.3%
Net −54.9%
FCF −756.9%
Q2 '26
Gross 58.3%
Operating −32.1%
Net −51.9%
FCF −310.9%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY24
Net income $1.4M
FY25
Net income −$24.7M
Q1 '24
Net income $0.8M
Q2 '24
Net income $1.9M
Q3 '24
Net income −$0.4M
Q4 '24
Net income −$1.0M
Q1 '25
Net income $1.4M
Q2 '25
Net income −$8.8M
Q3 '25
Net income −$15.8M
Q4 '25
Net income −$1.5M
Q1 '26
Net income −$12.0M
Q2 '26
Net income −$15.0M
FY24
Diluted EPS $0.05
FY25
Diluted EPS −$0.78
Q1 '24
Diluted EPS —
Q2 '24
Diluted EPS —
Q3 '24
Diluted EPS −$0.01
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS $0.05
Q2 '25
Diluted EPS −$0.33
Q3 '25
Diluted EPS −$0.47
Q4 '25
Diluted EPS −$0.03
Q1 '26
Diluted EPS −$0.31
Q2 '26
Diluted EPS −$0.39
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY24
Return on capital —
Return on equity 0.8%
Return on assets 0.6%
FY25
Return on capital −5.5%
Return on equity −7.6%
Return on assets −5.6%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$223M in fiscal 2025, −281.4% of revenue. Cash from operations minus capital spending.
FY24
Free cash flow −$60.3M
FY25
Free cash flow −$223M
Q1 '24
Free cash flow —
Q2 '24
Free cash flow —
Q3 '24
Free cash flow $16.8M
Q4 '24
Free cash flow −$74.0M
Q1 '25
Free cash flow −$53.1M
Q2 '25
Free cash flow −$84.7M
Q3 '25
Free cash flow −$32.5M
Q4 '25
Free cash flow −$52.5M
Q1 '26
Free cash flow −$166M
Q2 '26
Free cash flow −$89.7M
FY24
Cash from operations $18.7M
Capital spending $79.0M
FY25
Cash from operations $45.7M
Capital spending $268M
Cash from operations
Capital spending
Q1 '24
Cash from operations —
Capital spending —
Q2 '24
Cash from operations —
Capital spending —
Q3 '24
Cash from operations $19.6M
Capital spending $2.8M
Q4 '24
Cash from operations −$1.2M
Capital spending $72.8M
Q1 '25
Cash from operations −$2.9M
Capital spending $50.2M
Q2 '25
Cash from operations −$3.9M
Capital spending $80.8M
Q3 '25
Cash from operations −$16.9M
Capital spending $15.5M
Q4 '25
Cash from operations $69.4M
Capital spending $122M
Q1 '26
Cash from operations $3.2M
Capital spending $169M
Q2 '26
Cash from operations $85.9M
Capital spending $176M
Cash from operations
Capital spending
Dividends, buybacks and share count
WhiteFiber, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 16.8%.
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.03B
Balance sheet
Cash, debt and the ratios that show how comfortably WhiteFiber, Inc. can carry it.
FY24
Cash $11.7M
Debt —
FY25
Cash $114M
Debt $32.9M
Cash
Debt
| Fiscal year end | FY24 | FY25 |
|---|---|---|
| Cash and short-term investments | $11.7M | $114M |
| Debt incl. finance leases | — | $32.9M |
| Debt / equity | — | 0.0x |
| Current ratio | 1.0x | 2.0x |
| Quick ratio | 1.0x | 2.0x |
| Total assets | $229M | $651M |
| Total liabilities | $59.4M | $169M |
| Shareholders' equity | $170M | $482M |
| Net debt (− = net cash) | — | −$81.5M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 |
|---|---|---|
| Net income is positive | ✓ | ✕ |
| Cash from operations is positive | ✓ | ✓ |
| Return on assets rose | — | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ |
| Debt fell relative to assets | — | — |
| Current ratio rose | — | ✓ |
| Share count didn't rise | — | ✕ |
| Gross margin rose | — | ✓ |
| Revenue rose relative to assets | — | ✕ |
| F-score | — / 3 | 4 / 8 |
| Accruals ratio | −7.6% | −16.0% |
| Altman Z'' | 3.04 | 3.46 |
2 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY24 | FY25 |
|---|---|---|
| Income statement | ||
| Revenue | $47.6M | $79.2M |
| Gross profit | $26.9M | $47.6M |
| Operating income | $0.6M | −$26.8M |
| Pretax income | $2.2M | −$25.8M |
| Income tax | $0.9M | −$1.1M |
| Net income | $1.4M | −$24.7M |
| Net income to common | $5.9M | $7.9M |
| Diluted EPS | $0.05 | −$0.78 |
| Diluted shares | 0.03B | 0.03B |
| Cash flow | ||
| Cash from operations | $18.7M | $45.7M |
| Capital expenditure | $79.0M | $268M |
| Free cash flow | −$60.3M | −$223M |
| Depreciation and amortization | $16.5M | $23.4M |
| Stock-based compensation | — | $16.9M |
| Balance sheet | ||
| Cash and short-term investments | $11.7M | $114M |
| Total debt | — | $20.0M |
| Finance lease liabilities | — | $12.9M |
| Current assets | $46.5M | $168M |
| Current liabilities | $45.8M | $82.5M |
| Property and equipment, net | $89.2M | $337M |
| Goodwill | $19.4M | $20.1M |
| Intangible assets | $13.0M | $12.8M |
| Total assets | $229M | $651M |
| Total liabilities | $59.4M | $169M |
| Shareholders' equity | $170M | $482M |
| Margins | ||
| Gross margin | 56.4% | 60.2% |
| Operating margin | 1.3% | −33.9% |
| EBITDA margin | 36.0% | −4.3% |
| Net margin | 2.9% | −31.2% |
| FCF margin | −126.5% | −281.4% |
| Returns | ||
| Return on capital | — | −5.5% |
| Return on capital employed | 0.3% | −4.7% |
| Return on equity | 0.8% | −7.6% |
| Return on assets | 0.6% | −5.6% |
| Return on tangible equity | 4.3% | 1.8% |
| Growth | ||
| Revenue growth | — | 66.2% |
| Net income growth | — | −1,901.9% |
| EPS growth | — | −1,660.0% |
| Share count change | — | 16.8% |
| Financial health | ||
| Debt / equity | — | 0.0x |
| Current ratio | 1.0x | 2.0x |
| Quick ratio | 1.0x | 2.0x |
| Capital allocation | ||
| Capex / revenue | 165.9% | 339.0% |
| Stock comp / revenue | — | 21.3% |
| Quality scores | ||
| Piotroski F-score | — | 4.0 |
| Altman Z'' | 3.0 | 3.5 |
| Accruals ratio | −7.6% | −16.0% |
Source: SEC EDGAR XBRL filings (CIK 0002042022). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.