Digital Power X (DGXX) shares fell in pre-market trading after the company released its first-quarter financial results, which missed analyst expectations and showed a decline in key metrics from the prior year.
- DGXX reported a Q1 net loss of $4.65 million, which is significantly wider than the $1.63 million loss reported in the same period last year.
- Quarterly revenue fell to $6.79 million from $9.28 million a year earlier, primarily due to lower colocation revenue as the company transitions from Bitcoin mining to AI-focused data centers.
- The company also provided updates on its major AI contracts, including its 10-year, $1.1 billion initial value agreement with Cerebras and a new $19.6 million GPU rental agreement with SubQ AI that became effective today.