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Fermi Inc. FRMI Operating Income

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Net income-$188.7M-241,814%
EPS (diluted)-$0.30

Balance sheet

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Cash & equivalents$243.3M
Total debt$886.3M
Total equity$1.1B
Total assets$1.8B

Cash flow

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Operating cash flow-$7.3M-15,867%
CapEx$441.2M+1,378,613%
Free cash flow-$448.5M-574,942%

Valuation

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Market cap$3.95B-76.8%
Enterprise value$4.59B

Returns & leverage

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Return on equity-125.9%
Debt / equity0.8×

Where this comes from

Reported directly by Fermi Inc. in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Fermi Inc.’s 10-Q, filed May 15, 2026.

Filed
May 14, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0002071778-26-000032
Line itemThree Months Ended March 31, 2026For the period from January 10, 2025 (Inception) through March 31, 2025
Expenses:
General and administrative$166,244$78
Total expenses166,24478
Loss from operations(166,244)(78)
Other income (expense):
Interest income2,349
Other income (expense), net(24,798)
Total other income (expense)(22,449)

Item 1. Financial Statements (Unaudited)

FAQ

What is Fermi Inc.'s operating income?
Fermi Inc. (FRMI) reported operating income of -$166.24M in Q1 2026.
How has Fermi Inc.'s operating income changed year-over-year?
Fermi Inc.'s operating income decreased by 213033.3% year-over-year, from -$78K to -$166.24M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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