New Era Energy & Digital announced on August 14, 2026, a restatement of its Q1 2026 financial results due to accounting errors in stock-based compensation and transaction costs. The correction increased the reported net loss for the quarter to $10.8 million and led the company to identify material weaknesses in its internal controls. The company also disclosed a working capital deficit of $57.2 million, raising substantial doubt about its ability to continue as a going concern.
Separately, the company reported its second-quarter results, posting a loss of $0.21 per share, which significantly missed analyst estimates. Revenue for the quarter also fell dramatically year-over-year and missed expectations. Despite the negative financial disclosures, the company did report a positive operational milestone, having secured construction permits for its Texas Critical Data Centers (TCDC) project. Management has since stated that recent financing activities have alleviated the going-concern risk.