WhiteFiber, Inc. (NASDAQ:WYFI) reported a fourth-quarter loss on Thursday that fell well short of analyst expectations, sending the company’s shares down about 11.4% in pre-market trading.
The AI infrastructure provider posted an adjusted loss of $0.67 per share for the quarter, significantly deeper than the consensus forecast of a $0.06 loss.
Revenue for the period reached $23.6 million, representing a 61% year-over-year increase from $14.6 million in the same quarter last year. Adjusted EBITDA came in at $5.8 million, slightly higher than the $5.5 million reported in the fourth quarter of 2024.
Cloud services generated $19.3 million in revenue, up 48% from the prior-year period, while colocation services produced $3.9 million compared with $1.4 million a year earlier. The growth in colocation revenue was driven by the ramp-up of the company’s MTL-3 data center and early contributions from its colocation agreement with Cerebras.
“2025 was a transformational year for WhiteFiber,” said Sam Tabar, Chief Executive Officer. “We completed our initial public offering, expanded our infrastructure platform, and began bringing new AI capacity online to support the rapidly growing demand for high-performance compute.”
During the quarter, WhiteFiber also signed a long-term colocation agreement with Nscale Global Holdings covering 40 megawatts of capacity at its NC-1 data center campus in North Carolina. The contract represents approximately $865 million in committed revenue over an initial 10-year term, with the first phase expected to begin operations in the second quarter of 2026.
For the full year 2025, the company reported adjusted EBITDA of $17.3 million and a net loss of $24.7 million.
WhiteFiber ended the year with $114.4 million in cash and cash equivalents and no outstanding funded debt. In January 2026, the company completed a $230 million private placement of convertible senior notes to finance further expansion of its data center infrastructure.