QumulusAI

Q2 FY2026 EarningsQ2 FY26 results presented a significant miss on top-line and earnings expectations, with revenue of $6.7M versus the $3,234.9M consensus, reflecting a massive disconnect between market expectations and the company's current scale. Despite the scale disparity, the core AI Compute revenue grew 118% YoY, and gross margins expanded to 66.6%. The company reported a net loss of $22.8M (EPS -$0.72) driven by non-cash losses on convertible notes and heavy infrastructure depreciation, failing to meet the normalized EPS expectation of -$0.35.