Digi Power X (DGX) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $12.25M, up 85% QoQ and 50% YoY; AI revenue reached $5.66M, or 46.2% of sales.

• Net income was $1.05M versus $64,539 in Q3 2025; nine-month net loss widened to $17.97M from $11.27M.

• GPU rental, AI infrastructure and colocation are expanding the revenue mix as Bitcoin mining declines.

Financial highlights

• GAAP gross loss narrowed to $2.41M from $5.48M in Q2 2026; gross profit before D&A was $3.08M.

• Q3 net income included $7.07M from digital-currency revaluation and $1.53M from warrant-liability revaluation.

• EBITDA was $6.53M and Adjusted EBITDA was $0.6M; Q3 2025 comparatives were $1.7M and negative $1.0M, respectively.

• Nine-month revenue was $26.84M versus $25.53M; nine-month net loss was $17.97M versus $11.27M.

Outlook and guidance

• Targeted annualized revenue run-rate is $250M–$300M by end-Q3 2027, subject to financing, market and other conditions; ~$143M is expected from current operations and Columbiana, including conditional Phase 2.

• Phase 1 Columbiana tenant access and commissioning are expected Dec. 15, 2026, with billing expected in Jan. 2027; Phase 2 access is targeted for Mar. 2027, subject to conditions.

• Planned 2027 capex is ~$350M, mainly for ~10 MW of AI inference capacity and Columbiana Phase 2.