Alpha Compute (ALP) Q4 2026 earnings summary

Executive summary

• Transitioned from biotech and digital asset treasury to vertically integrated AI infrastructure, focusing on confidential GPU-as-a-Service for enterprise, government, and consumer clients.

• Secured $71 million in initial financing, completed rebrand, and acquired GAMEE, adding 120 million users to the ecosystem.

• Signed first enterprise contract: a two-year, $32.2 million agreement for ALPHA-01 cluster, with $16.1 million annual contracted revenue and $7.5 million upfront payment received.

• ALPHA-01 cluster is live; ALPHA-02 (576 NVIDIA B300 GPUs) under construction in Sweden, targeted for Q3 2026 deployment.

• Qualified pipeline exceeds $200 million in annual revenue, with additional clusters (ALPHA-03, ALPHA-04) in progress.

Financial highlights

• Fiscal year ended March 31, 2026: net loss of $38.6 million, up from $6.8 million prior year, driven by transition costs and one-time charges.

• Cash and cash equivalents at fiscal year-end: $700,000; current liabilities: $13 million.

• Subsequent events (as of July 13, 2026): cash increased to $10.3 million, reflecting contract payments, GAMEE acquisition, and share sales.

• None of the $16.1 million contracted revenue or GAMEE revenue reflected in FY26 results; current annualized revenue run-rate estimated at $21–$23 million.

Outlook and guidance

• Expecting significant revenue growth in current fiscal year as contracted revenue and GAMEE acquisition are recognized.

• ALPHA-02 cluster to go live in Q3 2026; additional enterprise contracts and clusters expected to drive further growth.

• Management aims to strengthen balance sheet and pursue full vertical integration, including real estate and energy assets.

• Plans to increase reporting frequency, potentially moving to quarterly or monthly updates.