Earnings ·
QumulusAI reported unaudited financial results for the second quarter ended June 30, 2026
QMLSQumulusAI, Inc.
QumulusAI reported unaudited financial results for the second quarter ended June 30, 2026. Revenue more than doubled year over year to $6.7 million, driven by a 118% increase in compute power revenue. Gross margin expanded to 67%, while operating loss widened to $7.7 million due to increased depreciation and administrative costs associated with public company readiness. The company signed 21 new direct customer contracts valued at $169.7 million, bringing cumulative contracted value to $282.5 million. Net loss was $22.8 million, including a $19.2 million non-cash loss on convertible note issuance. QumulusAI operates in the AI infrastructure industry, providing distributed high-performance GPU compute capacity.