Fermi Inc. Reports Q3 2026 Net Loss of $141.6 Million Amid Infrastructure Expansion
Fermi Inc. (FRMI) reported its third-quarter 2026 financial results, highlighting a net loss of $141.6 million, or $0.22 per share. Despite the loss, the company is aggressively expanding its energy and data infrastructure, supported by a $200 million prepayment from an investment-grade hyperscaler to fund 600 megawatts of power development at Project Matador. The company's capital expenditures remain high, with property, plant, and equipment growing to $1.67 billion following $133.4 million in quarterly investments. Fermi is focusing on securing long-term capacity, reporting air permits for 6 gigawatts and managing a customer pipeline of 2.2 gigawatts. While debt has risen to $958.4 million due to recent convertible notes, the company maintains $286.3 million in unrestricted cash.
Topics: Capital Expenditure Cash Position Debt Hyperscaler Prepayment Lease Termination Net Loss