Fermi (NASDAQ:FRMI) reported a net loss of $189 million for the first quarter of 2026 as the company continued to invest heavily in infrastructure development and expansion projects.
The quarterly loss amounted to $0.30 per diluted share
Fermi said the result was largely impacted by $134 million in non-cash share-based compensation expenses, along with a $25 million loss tied to debt extinguishment activities. Company Secures $785 Million in New Financing During the quarter, Fermi arranged $785 million in new equipment financing to support its ongoing expansion plans. The financing package included a $500 million facility provided by MUFG.
The company also secured a separate $156 million financing commitment from Yorkville for broader corporate purposes. At the end of the quarter, Fermi held total cash and restricted cash of $243 million. Project Matador Expands Power Capacity in Texas Fermi said its Project Matador development in Carson County, Texas, now has access to more than 2 gigawatts of generation capacity through owned and contracted energy assets.