Digi Power X Reports Q3 2026 Revenue Up 85% and AI Revenue Up Over 400% Compared to Q2
Key Highlights
- ➤Q3 revenue $12.25M, up 85% sequentially and 50% year-over-year
- ➤AI revenue $5.66M, up more than 400% sequentially, reached 46% of revenue
- ➤Columbiana Phase 1 tenant access expected December 15, with billing beginning January 2027
- ➤Proposed $200M Goldman Sachs-syndicated credit facility expected to close in Q4 2026
- ➤2027 annualized revenue run-rate target $250M-$300M, subject to financing and market conditions
Expert Statements
Michel Amar, Chairman and Chief Executive Officer, Digi Power X Inc.
“Our third-quarter results demonstrate that Digi Power X's transformation into an AI infrastructure company is beginning to take hold. Revenue increased 85% over the previous quarter, and AI now accounts for nearly half of our business, all before the expected start of Columbiana colocation billing in January 2027. Our next priority is execution: bringing Columbiana into service, expanding our compute capacity and converting our power assets into long-term contracted revenue. We ended the quarter with approximately $120 million in cash, cash equivalents and digital currencies and no outstanding borrowings, giving us a strong foundation for this next phase. We are building this business with a clear focus on value per share. Our approach is to secure bankable customer commitments, deploy capital against attractive returns and fund expansion principally through customer contributions and contract-backed financing. Our ambition is substantial, and our discipline is equally clear: grow recurring revenue and cash generation while minimizing shareholder dilution.”
Alec Amar, President, Digi Power X Inc.
“Going live with the NeoCloudz Token Factory is a major step for Digi Power X. We own the power, the data centers and the GPUs, and now we're selling tokens directly to customers. That lets us earn more from every megawatt we operate, and we're excited to grow this business alongside our existing infrastructure.”
MIAMI, FL / ACCESS Newswire / November 13, 2026 / Digi Power X Inc. (Nasdaq:DGXX)(Cboe Canada:DGX) ("Digi Power X" or the "Company"), an AI data center infrastructure operator, today reported its financial and operating results for the third quarter ended September 30, 2026 (all amounts in U.S. dollars, unless otherwise indicated). The Company's quarterly report on Form 10-Q, which includes unaudited consolidated financial statements and management's discussion and analysis ("MD&A") for the quarter ended September 30, 2026, is being filed and made accessible under the Company's continuous disclosure profile on SEDAR+ at www.sedarplus.ca and will also be available on EDGAR at www.sec.gov/edgar.
All amounts in U.S. dollars (millions) * Revenue of $12.25 million, up 85% from the previously completed fiscal quarter and an increase of 50% compared to the quarter ended September 30, 2025; * $119.6 million in cash, cash equivalents and digital currencies, $103.0 million of working capital and no outstanding borrowings at quarter end; * Columbiana Phase 1 tenant access and commissioning expected on December 15, 2026, with billing expected to begin in January 2027. Phase 2 construction is underway, with tenant access targeted for March 2027, subject to various conditions; * Net income of $1.0 million ($0.01 per share), materially supported by digital currency and warrant valuation gains, compared to a net income of $0.1 million for the quarter ended September 30, 2025; * Closing of proposed $200 million credit facility syndicated by Goldman Sachs currently expected in Q4 2026, subject to definitive documentation and various conditions; * EBITDA(1) of $6.5 million and Adjusted EBITDA(2) of $0.6 million (both non-GAAP), versus $1.7 million and negative $1.0 million, respectively, compared to the quarter ended September 30, 2025; * AI revenue(3) of $5.66 million, up more than 400% over the previous fiscal quarter and representing 46% of total quarterly revenue, compared with nil AI revenue in the quarter ended September 30, 2025. GPU rental revenue increased 127% from the previously completed fiscal quarter to $2.46 million, compared with nil GPU rental revenue in the quarter ended September 30, 2025; * 2027 Outlook: annualized revenue run-rate of approximately $250-300 million anticipated by the end of Q3 2027, subject to adequate financing and market conditions. Planned 2027 capex of approximately $350 million is expected to be funded principally through customer deposits and contract-backed debt, designed to minimize shareholder dilution. (1) EBITDA is a non-GAAP financial measure presented as a supplement to GAAP results. See "Adjusted EBITDA-GAAP Reconciliation" and "Non-GAAP Financial Measures" below. (2) Adjusted EBITDA is a non-GAAP financial measure presented as a supplement to GAAP results. See "Adjusted EBITDA-GAAP Reconciliation" and "Non-GAAP Financial Measures" below. (3) For a breakdown of AI revenue, see "Third Quarter Summary - Revenue Mix" below.
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