Hyperscale Data (GPUS) Q2 2026 earnings summary

Executive summary

• Total revenue for Q2 2026 was $34.8M, up 35% year-over-year, driven by strong growth in Defense and blockchain initiatives.

• Net loss attributable to common stockholders for Q2 2026 was $21.7M, compared to $21.3M in Q2 2025.

• Gross profit increased 44% to $8.8M, with gross margin rising to 25% from 24% year-over-year.

• Significant investments in AI and blockchain initiatives led to higher R&D and G&A expenses.

Financial highlights

• Revenue for the six months ended June 30, 2026 was $78.9M, up 55% from $50.9M in the prior year period.

• Gross profit for the six months was $23.9M (30% margin), up from $11.4M (22% margin) year-over-year.

• Net loss for the six months was $54.1M, compared to $27.4M in the prior year period.

• Cash and cash equivalents at June 30, 2026 were $36.8M, with restricted cash of $28.3M.

• Operating cash outflow for the six months was $9.9M; investing outflow was $45.1M; financing inflow was $70.8M.

Outlook and guidance

• Management expects to require over $100M in capital expenditures for Michigan data center expansion.

• Existing liquidity is insufficient for the next 12 months; substantial additional financing is required.

• Management is pursuing equity, debt, asset monetization, and strategic transactions to address liquidity needs.