Digi Power X Inc. (Nasdaq: DGXX) reported its financial results for the fiscal third quarter ended September 30, 2026, highlighting a significant shift in its business mix toward artificial intelligence infrastructure. The company reported total revenue of $12.25 million for the quarter, representing an 85% increase from the previous fiscal quarter and a 50% increase compared to the same period in the prior year.
A key component of this growth is the company's AI revenue, which reached $5.66 million. This figure is more than 400% higher than the previous quarter and now accounts for 46% of total quarterly revenue, up from zero in the prior year's comparable period. Within the AI segment, GPU rental revenue increased by 127% to $2.46 million.
On the balance sheet, Digi Power X ended the quarter with $119.6 million in cash, cash equivalents, and digital currencies. The company reported net income of $1.0 million ($0.01 per share) for the quarter, compared to $0.1 million in the prior year. The company also reported EBITDA of $6.5 million and Adjusted EBITDA of $0.6 million for the period.
The company highlighted the progress of its Columbiana facility in Alabama. It expects to provide tenant access for Phase 1 (15 MW) on December 15, 2026, with billing expected to begin in January 2027. The company has a ten-year take-or-pay colocation agreement with Cerebras, which is expected to provide annual fees of approximately $40 million for Phase 1, with a total potential contract value of up to $1.07 billion if both phases are completed.
Looking ahead, Digi Power X provided a 2027 outlook. The company anticipates reaching an annualized revenue run-rate of approximately $250 million to $300 million by the end of the third quarter of 2027. The company plans to fund approximately $350 million in capital expenditures in 2027, primarily through customer deposits and contract-backed debt, including a proposed $200 million credit facility syndicated by Goldman Sachs that is currently expected to close in the fourth quarter of 2026.
