DGXX

MKT CAP:$236M

Digi Power X Inc.

Market Cap

$236M

Technology·Software - Infrastructure·🇨🇦 Canada·NASDAQ

Technology·Software Infra·🇨🇦·NASDAQ

Stock Price

$3.69+$0.90 (+32.26%)

Apr 20, 2026

Company Details

Digi Power X Inc. operates as an energy infrastructure company. The Company develops cutting-edge data centers to drive the expansion of energy assets.

CEO

Michel Thierry Amar

IPO Date

Jan 8, 2021

Website

www.digipowerx.com

Key Metrics TTM

Revenue

$34M

-7.6% YoY

Net Income

-$28M

EPS (Diluted)

-$0.69

Free Cash Flow

-$43M

Revenue / Share

$0.77

Gross Margin

-9.4%

Operating Margin

-57.7%

Net Margin

-82.9%

FCF Margin

-125.3%

P/S

6.9x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Dec 31, 2025

$34M-7.6%EPS -$0.64

Q4 2025

Dec 31, 2025

$9M+53.5%EPS -$0.37

Q3 2025

Sep 30, 2025

$8M-11.2%EPS $0.01

Q2 2025

Jun 30, 2025

$8M-12.1%EPS -$0.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 19	$0	$0	-$65.9K
Q4 19	$0	$0	-$80.7K
Q3 20	$437.8K	-$2M	-$2M
Q1 21	$5M	$2M	$228.3K
Q3 21	$5M	$3M	-$4M
Q1 22	$7M	$581.3K	$512.6K
Q4 22	$6M	-$4M	-$41M
Q1 23	$4M	-$2M	-$3M
Q1 24	$13M	$7.2K	$846.9K
Q2 24	$9M	-$3M	-$4M
Q3 24	$9M	-$3M	-$5M
Q4 24	$6M	-$5M	-$2M
Q1 25	$9M	-$2M	-$5M
Q2 25	$8M	-$92.1K	-$4M
Q3 25	$8M	-$853.9K	-$3M
Q4 25	$9M	-$752.1K	-$8M

Valuation

Quarter	P/S	P/E
Q3 19	—	—
Q4 19	—	—
Q3 20	65.8x	—
Q1 21	18.5x	—
Q3 21	10.5x	—
Q1 22	5.5x	19.0x
Q4 22	0.7x	—
Q1 23	1.9x	—
Q1 24	1.4x	—
Q2 24	1.2x	—
Q3 24	0.9x	—
Q4 24	1.4x	—
Q1 25	1.0x	—
Q2 25	3.1x	—
Q3 25	2.8x	—
Q4 25	2.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	-$182.7K	-$182.7K
Q4 19	-$125.1K	-$125.1K
Q3 20	$346.3K	-$51.7K
Q1 21	-$2M	-$6M
Q3 21	-$2M	-$3M
Q1 22	-$5M	-$14M
Q4 22	-$7M	-$11M
Q1 23	$3M	$2M
Q1 24	-$4M	-$4M
Q2 24	$4M	$436.2K
Q3 24	-$5M	-$5M
Q4 24	-$18M	-$19M
Q1 25	-$10M	-$11M
Q2 25	-$8M	-$9M
Q3 25	-$7M	-$14M
Q4 25	-$399.1K	-$9M

Capital Expenditures

Quarter	CapEx
Q3 19	$0
Q4 19	$0
Q3 20	$398.0K
Q1 21	$4M
Q3 21	$710.4K
Q1 22	$9M
Q4 22	$4M
Q1 23	$769.8K
Q1 24	$1
Q2 24	$3M
Q3 24	$0
Q4 24	$590.8K
Q1 25	$782.1K
Q2 25	$775.3K
Q3 25	$8M
Q4 25	$8M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	—	+74799.9%
Q1 21	—	+3669.8%
Q3 21	—	+13551.9%
Q1 22	—	+8326.7%
Q4 22	+1197.8%	+1985.0%
Q1 23	-13.9%	+63.5%
Q1 24	+136.2%	+34.7%
Q2 24	+26.2%	+100.9%
Q3 24	+61.5%	-69.4%
Q4 24	+37.4%	+5.3%
Q1 25	-28.4%	+14.7%
Q2 25	-12.1%	-10.2%
Q3 25	-11.2%	-22.4%
Q4 25	+53.5%	+113.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$0	—
Q4 19	$0	—
Q3 20	$0	0.0%
Q1 21	$1M	24.4%
Q3 21	$3M	50.4%
Q1 22	$764.4K	10.5%
Q4 22	$812.3K	14.3%
Q1 23	$401.5K	9.8%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$516.4K	5.6%
Q4 24	$481.7K	8.5%
Q1 25	$1M	11.2%
Q2 25	$2M	25.5%
Q3 25	$601.5K	7.4%
Q4 25	$4M	49.9%

OpEx Breakdown

Quarter	G&A
Q3 19	$65.9K
Q4 19	$80.7K
Q1 21	$2M
Q3 21	$3M
Q1 22	$2M
Q4 22	$2M
Q1 23	$1M
Q1 24	$1M
Q2 24	$2M
Q3 24	$1M
Q4 24	$2M
Q1 25	$3M
Q2 25	$4M
Q3 25	$2M
Q4 25	$7M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 19	—	—	—
Q4 19	—	—	—
Q3 20	—	-163.1%	—
Q1 21	—	28.1%	—
Q3 21	—	-47.7%	—
Q1 22	—	191.5%	—
Q4 22	1197.8%	-105.9%	1092.0
Q1 23	-13.9%	-138.4%	-152.3
Q1 24	136.2%	21.5%	157.7
Q2 24	26.2%	-9.0%	17.3
Q3 24	61.5%	-27.1%	34.3
Q4 24	37.4%	59.3%	96.7
Q1 25	-28.4%	-24.3%	-52.7
Q2 25	-12.1%	-108.2%	-120.4
Q3 25	-11.2%	-16.5%	-27.7
Q4 25	53.5%	-73.9%	-20.3

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$8M	$39M	$48M
Q2 22	$5M	$7M	$12M
Q3 22	$3M	$4M	$7M
Q4 22	$2M	$0	$2M
Q1 23	$822.4K	$263.1K	$1M
Q2 23	$291.6K	$356.8K	$648.4K
Q3 23	$861.5K	$463.7K	$1M
Q4 23	$339.5K	$818.7K	$1M
Q1 24	$1M	$3M	$4M
Q2 24	$2M	$0	$2M
Q3 24	$588.6K	$0	$588.6K
Q4 24	$2M	$0	$2M
Q1 25	$804.4K	$0	$804.4K
Q2 25	$4M	$0	$4M
Q3 25	$6M	$0	$6M
Q4 25	$78M	$0	$78M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 19	40M	-84.7%	—
Q4 19	137M	+242.6%	—
Q3 20	13M	-90.3%	-94.9%
Q1 21	15M	+15.0%	-94.1%
Q3 21	25M	+62.7%	-37.7%
Q1 22	26M	+3.8%	-81.1%
Q4 22	28M	+7.4%	+108.5%
Q1 23	28M	+1.7%	+84.4%
Q1 24	29M	+3.3%	+17.1%
Q2 24	29M	+0.4%	+13.2%
Q3 24	31M	+6.2%	+12.0%
Q4 24	31M	-1.5%	+8.4%
Q1 25	35M	+13.9%	+19.6%
Q2 25	37M	+4.7%	+24.8%
Q3 25	44M	+21.2%	+42.3%
Q4 25	44M	+0.2%	+44.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 19	—	—
Q4 19	—	—
Q3 20	—	—
Q1 21	—	—
Q3 21	—	—
Q1 22	—	—
Q4 22	$405.9K	14
Q1 23	$293.2K	14
Q1 24	$863.9K	15
Q2 24	$615.4K	15
Q3 24	$611.7K	15
Q4 24	$352.3K	16
Q1 25	$579.8K	16
Q2 25	$507.0K	16
Q3 25	$509.1K	16
Q4 25	$540.9K	16

Revenue / Employee