QumulusAI Reports Q3 2026 Revenue Surge and First Positive Adjusted EBITDA
QumulusAI (QMLS) reported a significant financial turnaround for the third quarter of 2026, with revenue reaching $14.8 million—a 376% increase year-over-year and more than double the previous quarter's results. The company successfully transitioned its business model from cryptocurrency mining to high-performance computing (HPC), with compute power now accounting for 96% of total revenue. Crucially, the company achieved its first positive adjusted EBITDA quarter at $3.7 million, representing a 25% margin. This growth is supported by a massive increase in remaining performance obligations, which rose to $515 million due to a tripling of direct customer compute contracts. Management reaffirmed forward Annualized Recurring Revenue (ARR) guidance of $300 million for year-end.
Topics: contract backlog EBITDA high-performance computing revenue growth
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