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Inferra AI / Company / FRMI

Fermi Inc.

FRMI · Real Estate

Last earnings Aug 13, 2026

AI analysis

Q1 2026 · reported May 14, 2026

Based on: Earnings release + Q1 2026 deck + parent 8-K + 10-Q — transcript not held

No extracted figures held

The event-summary record for this company carries no extracted figures, so the brief and charts cannot be drawn yet. The summary below and the held documents are the record for this event.

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

$421 million of outstanding debt reflecting new borrowings under equipment financing facilities and the full repayment of the Macquarie Term Loan.

$189 million net loss in the quarter ($0.30 per diluted share) primarily driven by $134 million of non-cash share-based compensation and a $25 million extinguishment loss on the Macquarie Term Loan.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Participation details are included in this release

Based on: Earnings release + Q1 2026 deck + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

$421 million of outstanding debt reflecting new borrowings under equipment financing facilities and the full repayment of the Macquarie Term Loan.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

$189 million net loss in the quarter ($0.30 per diluted share) primarily driven by $134 million of non-cash share-based compensation and a $25 million extinguishment loss on the Macquarie Term Loan.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

As of June 30, 2026, the Company had not generated any revenues, had incurred recurring losses from operations and negative cash flows from operating activities since inception, and had substantial near-term capital expenditure obligations under existing equipment purchase, construction, lease, and other project-related commitments.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

As of June 30, 2026, the Company had cash on hand of $ 62,536 and restricted cash of $ 29,195 , a portion of which is available to fund defined capital expenditures.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

In addition, in July 2026, subsequent to quarter-end, the Company issued $ 431,250 aggregate principal amount of 5.00 % convertible senior notes due 2031 for net proceeds of approximately $ 416,810 , of which approximately $ 34,500 was used to pay the cost of related capped call transactions (the Capped Call Transactions ), with the remainder available for general corporate purposes, as further described in Note 9, Subsequent Events .

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

In addition to its existing cash on hand and restricted cash, the Company has undrawn committed borrowing capacity under the Company s existing equipment financing facilities, the terms of which are further described in Note 5, Debt, net .

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

Strategy & priorities

Outlines Fermi 2.0 Strategic Evolution and Reports First Quarter 2026 Financial Results Secures over 2 GW of power generation advances 11 GW of permitted capacity closes $785 million in new equipment financing strengthens governance and accelerates commercial engagement DALLAS, May 14, 2026 PRNewswire -- Fermi Inc.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Fermi 2.0 Strategic Evolution Fermi provided an update on its strategic evolution from an entrepreneurial startup into a scaled, institutional public company purpose-built to deliver gigawatt-scale private power to the AI economy.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Over the next 90 days, we re executing a disciplined plan that includes securing a binding tenant agreement, diligently managing working capital and liquidity, hiring our next CEO, exploring strategic partnerships for power data center deployment acceleration, and delivering power at our project site.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Our team is unified and focused on one primary objective to maximize long-term shareholder returns.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Our strategy hasn't changed, and the team leading this next chapter has my full confidence and support.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Risks & headwinds

These statements are based on current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

SEC original ↗Fermi Inc. — Earnings release (8-K exhibit)EX-99May 14, 2026

Legal Proceedings 42 Item 1A.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

The risks and uncertainties set forth above are not exhaustive.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

Risk Factors discuss these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements.

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

MAD Energy is the counterparty to the net profits interest assumed in connection with the Firebird Acquisition and has agreed to indemnify the Company and its affiliates against certain claims asserted in the Firebird litigation, each as described in Note 8, Commitments and Contingencies .

SEC original ↗Fermi Inc. — 10-Q Quarterly report10-QAug 14, 2026

Documents

Earnings deck slides

0 decks with slide view

Fermi Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Fermi Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Fermi Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Fermi Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

KE Holdings (BEKE) Real EstateInvitation Homes (INVH) Real EstateEquinix (EQIX) Real EstateAlexandria Real Estate Equities (ARE) Real EstateIron Mountain (IRM) Real EstateVici Properties (VICI) Real EstateMid-America Apartment Communities (MAA) Real EstateVivmark Residential (VMRK) Real Estate

Filings

36 documents

Earnings releases

5 documents

Presentations

4 documents

Transcripts

0 documents

No transcripts for Fermi Inc. are held in this edition of the library.

Mentioned by

2 companies

Other tracked companies whose held documents mention Fermi Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.