SEC 8-K filings with transcript text
Aug 14, 2026
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EdgarFiling
Axe Compute Inc. Reports Second Quarter 2026 Financial Results and Provides Business Update
Revenue Grew More Than 90x Sequentially from Q1 2026 in the First Full Quarter of Compute Operations More Than $2.8 Billion in New Contracts Signed, Bringing 2026 Signed Contracted Value to More Than $3 Billion and Expected Annualized Run Rate to More Than $696M upon Full Deployment
PITTSBURGH, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Axe Compute Inc. (NASDAQ: AGPU), a neocloud AI infrastructure platform delivering dedicated enterprise GPU compute capacity at global scale, today reported financial results for the second quarter ended June 30, 2026.
"In less than eight months, we have gone from our first revenue-generating compute contract to more than $3 billion in signed contract value. We continue to be confident that we can deliver an additional $2 billion in signed contracts before the end of the year,” said Christopher Miglino, Chief Executive Officer of Axe Compute “As these contracts go live, they provide multi-year recurring revenue that strengthens our balance sheet quarter after quarter. Our focus for the second half is delivery, and winning the next contracts as we do it," added Miglino.
Revenue of $3.2 million, the first full quarter of revenue from compute services, entirely contributed by the Axe Compute Access service delivery model; Axe Compute Build contract revenue is not yet recognized and begins at go-live. Net loss of $17.2 million, driven by a non-cash $13.1 million loss on digital assets, primarily reflecting changes in digital asset holdings and related receivables. Adjusted EBITDA1 of approximately ($4.9 million), with approximately ($0.9 million) attributable to the legacy Drug Discovery Services (Helomics) segment. Cash of $21.9 million at quarter-end, up from $6.9 million at March 31, 2026. Customer prepayments of $60.8 million and net cash provided by operating activities of $17.4 million for the first half of 2026. More than $3 billion in 2026 total contract value (“TCV”)2, including more than $2.8 billion in contracts signed in July under the Axe Compute Build model that were converted from the second quarter pipeline.
More Than $2.8 Billion in New Contracts Signed (July 2026): Subsequent to quarter-end, the Company secured three new customer contracts across the United States and Europe with a TCV of more than $2.8 billion, all under the Axe Compute Build model. Together with the $260 million contract signed in April, the Company's 2026 TCV now exceeds $3 billion, surpassing the $1 billion goal for new customer agreements announced in May 2026. The Company’s annualized run rate (“ARR”)3 is expected to reach more than $696M upon full deployment.
$260 Million Cluster In Build, Targeted for Q3 2026 Go-Live: The dedicated cluster of 2,304 NVIDIA B300 GPUs under the Company's 36-month take-or-pay contract announced in April progressed through build during the quarter. Deployment remains targeted for Q3 2026. Once live, the contract represents approximately $21 million per quarter in recognizable revenue over the 36-month service term.
Contract Liabilities Grew to $60.8 Million: Contract liabilities, representing customer prepayments that are generally non-cancellable and non-refundable and are received ahead of revenue recognition, grew from $0.8 million at March 31, 2026 to $60.8 million at June 30, 2026. Customer prepayments fund infrastructure ahead of deployment, a central feature of the Company's capital-efficient operating model.
Revenue: $3.2 million in Q2 2026, up from $35 thousand in Q1 2026 and compared to $3 thousand in Q2 2025, before the Company began providing compute services. Compute Services contributed $3.2 million, the segment's first full quarter of recognized revenue, reflecting contracts delivered through the Axe Compute Access model. Revenue from the Company's Build contracts is not yet reflected in reported results; recognition begins at go-live of the contracted clusters. The current period's margin profile reflects the Access model only and does not reflect the economics of the Build business, and the revenue mix and economics of the Company are expected to change materially as Build deployments come online.
Net Loss: $17.2 million for Q2 2026, or $0.87 per share. The reported net loss was driven primarily by $13.1 million in losses on digital assets in the quarter ($17.4 million year to date). These represent primarily non-cash fair-value changes on the Company's ATH digital asset holdings and related receivable and derivative positions, which under US GAAP are measured at each reporting date. Management believes the reported net loss does not reflect the operating performance or cash usage of the business.
Adjusted EBITDA: ($4.9 million), excluding $11.8 milli
May 18, 2026
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EdgarFiling
Axe Compute Inc. Reports First Quarter 2026 Financial Results and Provides Business Update
Signed $260 Million Landmark Enterprise Contract - Largest in Company History
Compute Services Revenue Commenced and Customer Prepayments Grew
Appointed President and CFO to Executive Leadership Team
PITTSBURGH, May 15, 2026 (GLOBE NEWSWIRE) -- Axe Compute Inc. (NASDAQ: AGPU), a virtual neocloud AI infrastructure platform delivering dedicated enterprise GPU compute capacity at global scale, today reported financial results for the first quarter ended March 31, 2026.
Christopher Miglino, Chief Executive Officer, stated: "Q1 2026 marked the beginning of contracts for our compute business, and April's $260 million contract announcement is the clearest signal yet of what this platform can deliver. We entered the quarter building infrastructure, and we exited it with paying customers and contracted revenue. Our pipeline now exceeds $4 billion and our goal of closing $1 billion in new customer agreements by the end of this year seems to be very much within reach, this will lay the foundation for years to come. With Kyle and Jeremy now in place as President and CFO respectively, we have the leadership team to execute at scale. Our focus now is getting the $260 million cluster live in Q3 2026 which translates to the commencement of $21M a quarter in revenue. We are expanding our sales team, and converting our pipeline into the next landmark contract."
$260 Million Enterprise Contract Signed (April 2026): The Company announced a 36-month take-or-pay contract for a dedicated cluster of 2,304 NVIDIA B300 GPUs and AI-focused high-speed storage infrastructure from a single U.S. Tier 3 data center facility. Deployment is targeted for Q3 2026. Once live, the contract represents approximately $21 million per quarter in recognized revenue over the 36-month service term.
Kyle Okamoto Appointed President: The Company appointed Kyle Okamoto as President of Axe Compute. Mr. Okamoto leads the Company's commercial strategy, go-to-market execution, and enterprise customer relationships. His appointment strengthens the Company's senior executive team under CEO Christopher Miglino.
Jeremy Yaukey-Witter Appointed Chief Financial Officer: The Company appointed Jeremy Yaukey-Witter as Chief Financial Officer. Mr. Yaukey-Witter previously served as the Company's Controller and has been central to building the financial infrastructure supporting Axe Compute's capital-efficient operating model. His elevation to CFO reflects the Company's transition from a development-stage platform to a revenue-generating enterprise.
Compute Services Revenue Commenced (Q1 2026): The Company recognized its first Compute Services revenue during Q1 2026, reflecting a handful of compute contracts that commenced at the end of March. In line with US GAAP, the Company recognizes revenue on its compute contracts ratably over the service period. Contract liabilities attributable to Compute Services grew to approximately $645 thousand, representing customer prepayments received ahead of revenue recognition.
Strong Short Term Liquidity: The Company held $6.9 million in cash and cash equivalents, $20.2 million in ATH digital asset holdings (approximately 2.83 billion tokens), and current digital assets receivable of $9.4 million as of March 31, 2026, representing a combined liquidity pool of approximately $36.5 million accessible in the short term.
Strategic Alternatives Review Ongoing: The Company continues to evaluate strategic alternatives for its legacy Drug Discovery Services (Helomics) business, including a potential sale, partnership, licensing arrangement, or other transaction. No definitive course has been committed to.
Total Revenue: $35 thousand in Q1 2026, compared to $110 thousand in Q1 2025. The Q1 2026 sales primarily reflects sales from the legacy Drug Discovery Services segment, with $7 thousand contributed by the Compute Services segment reflecting a handful of initial contract deployments that commenced in late March 2026 and will contribute revenue over the respective contract service periods beyond March 31, 2026.
Total Operating Costs and Expenses: $3.5 million in Q1 2026, compared to $2.4 million in Q1 2025. Operating expenses were primarily general & administrative expenses of $2.9 million, up approximately $1.1 million from Q1 2025, driven primarily by a one-time recognition of severance expense to the Company's former CEO following the February 2026 leadership transition, along with other personnel-related costs.
Net Loss: $7.7 million for Q1 2026, or $0.36 per share based on a weighted average share count of approximately 21.2 million shares. Under US GAAP, that weighted average share count includes 14.7 million pre-funded warrants outstanding as of March 31, 2026, down from 16.8 million pre-fu
Mar 31, 2026
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EdgarFiling
Axe Compute Inc. Reports Full-Year 2025 Financial Results
Completed Strategic Transformation to AI Compute Infrastructure
Raised $343.5 Million in Capital to Fund Digital Asset Treasury Strategy
Solidified new leadership composition with world class CEO and board members
PITTSBURGH, March 31, 2026 (GLOBE NEWSWIRE) -- Axe Compute Inc. (NASDAQ: AGPU), a technology company focused on providing enterprise access to high-performance GPU compute infrastructure for artificial intelligence workloads, today reported financial results for the fiscal year ended December 31, 2025. The year ended December 31, 2025, represented the Company's foundational year. During the year, Axe pivoted to become a GPU compute infrastructure and digital asset treasury company, encompassing a strategic repositioning, as well as completing a $343.5 million capital raise, and the establishing a distributed GPU network capable of supporting enterprise-scale artificial intelligence workloads.
Christopher Miglino, Chief Executive Officer, Axe Compute Inc. stated, “2025 was a pivotal year for Axe Compute. In less than ninety days, we raised $343.5 million in capital, established a Strategic Compute Reserve through a digital asset treasury position in the ATH AI token, and reconstituted our balance sheet from negative equity to $47.7 million in stockholders’ equity. Our priorities for 2026 are driving revenue and growth.”
Treasury Strategy Launched (September 2025): The Company adopted a Strategic Compute Reserve focused exclusively on ATH, the native utility token of the Aethir decentralized GPU network. As of December 31, 2025, the Company held approximately 6.348 billion ATH in aggregate. PIPE Capital Raise (October 2025): Completed two concurrent private investment in public equity (PIPE) transactions totaling $343.5 million in gross proceeds, providing the Company’s primary funding mechanism for the Strategic Compute Reserve. Name Change (December 2025): The Company changed its name from Predictive Oncology Inc. to Axe Compute Inc. effective December 11, 2025, and began trading under the ticker symbol AGPU on December 12, 2025. Leadership Transition (February 2026): Christopher Miglino was appointed Chief Executive Officer added to the board of directors effective February 9, 2026, succeeding Raymond Vennare. Mr. Miglino brings 25+ years of experience building and operating public technology, fintech, and digital asset companies. Legacy Business Strategic Review (February 2026): The Company began exploring strategic alternatives for its Helomics Drug Discovery Services business, including a potential sale, partnership, licensing arrangement, or other transaction. The review is ongoing and the Board has not committed to a specific course. Board Reconstitution (March 2026): New board members were appointed to the Board of Directors, adding semiconductor, technology, and international telecommunications expertise to the Company’s governance structure. GPU Network Access Established (March 2026): The Company established enterprise customer access to a globally distributed GPU network of over 435,000 GPUs across more than 200 locations through the Aethir network infrastructure, capable of supporting enterprise-scale AI training, inference, fine-tuning, and high-performance compute workloads. Axe Compute does not own or operate the underlying data center facilities or GPU hardware; the Company’s platform provides marketplace access to this network on an asset-light model.
Total Revenue: $125,284, derived entirely from the Company’s Drug Discovery Services legacy segment. No compute revenue was recognized in fiscal 2025, as the Axe Compute segment launched in September 2025 and had not yet commenced revenue-generating compute deployments as of December 31, 2025. Net Loss from Continuing Operations: $232.9 million. Notable non-cash charges include: $152.5 million in unrealized losses on digital assets due to the decline in ATH’s fair value from acquisition to year-end; $52.7 million loss on derivative instruments; and $16.6 million in non-cash stock-based compensation. Cash Used in Continuing Operations: $9.9 million for fiscal 2025, compared to $10.1 million in fiscal 2024, reflecting operational continuity at a controlled pace while the strategic infrastructure was established. Cash and Cash Equivalents: $10.8 million as of December 31, 2025, compared to $0.6 million as of December 31, 2024. Digital Asset Holdings: On December 31, 2025, we held approximately 2.837 billion unlocked ATH with a fair market value of $24.4 million, and a right to receive 3.511 billion locked ATH that are subject to vesting and/or transfer restrictions with a fair market value of $15.5 million after applying a discount for lack of transferability and control. Total Assets: $52.9 million as of December 31, 2025, compare
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