SharonAI (SHAZ) Q4 2025 earnings summary

Executive summary

• Transitioned to a pure-play neocloud operator focused on AI and HPC, with significant expansion in GPU cloud services and strategic partnerships with NVIDIA, Cisco, and NEXTDC.

• Completed a business combination and listed on NASDAQ, raising $125M in February 2026 and $103M in pre-IPO convertible notes.

• Divested non-core assets, including a 50% stake in Texas Critical Data Centers for $70M.

• Leadership changes included the appointment of James Manning as CEO in January 2026.

Financial highlights

• Revenue increased to $1.57M in 2025 from $438K in 2024, driven by GPU cloud services growth.

• Net loss widened to $39.6M in 2025 from $3.9M in 2024, reflecting higher SG&A, share-based compensation, and non-cash losses on convertible notes.

• Cash and cash equivalents at year-end 2025 were $71.1M, bolstered by capital raises.

• Gross margin remained low due to high infrastructure and operational costs.

Outlook and guidance

• Focused on scaling GPU infrastructure and capturing demand for AI/HPC workloads.

• Plans to leverage strategic partnerships and capital efficiency to drive growth.

• Anticipates continued operating losses as investments in infrastructure and technology persist.