FRMI - Fermi Inc. Common Stock
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$10.60
DETAILS
HIGH:
$17.00
LOW:
$6.00
MEDIAN:
$11.00
CONSENSUS:
$10.60
UPSIDE:
79.05%
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 26.8 | 166.2 | 134.3 | 37.8 | 5.6 | 0.1 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 26.8 | 166.2 | 134.3 | 37.8 | 5.6 | 0.1 |
| Operating Income | ||||||
| Operating Income | (26.8) | (166.2) | (134.3) | (37.8) | (5.6) | (0.1) |
| Interest Expense | 0 | 0 | 0 | 0.0 | 0 | 0 |
| Interest Income | 1.0 | 2.3 | 4.4 | 0 | 0 | 0 |
| Profitability | ||||||
| EBITDA | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| EBIT | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| Income Before Tax | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| Per Share Data | ||||||
| EPS (Basic) | -0.04 | -0.30 | -0.21 | -0.84 | -0.02 | -0.00 |
| EPS (Diluted) | -0.04 | -0.30 | -0.21 | -0.84 | -0.02 | -0.00 |
| Shares Outstanding | 637.3 | 629.8 | 629.8 | 466.5 | 363.3 | 363.3 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 62.5 | 207.5 | 408.5 | 183.0 | 40.3 | 0.2 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 0 | 0 | (183.0) | 2.0 | 0.2 |
| Total Current Assets | 62.5 | 207.5 | 408.5 | 0 | 45.3 | 0.4 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 1,595.6 | 1,470.6 | 957.0 | 295.3 | 42.6 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 47.8 | (295.3) | 1.3 | 0.2 |
| Total Non-Current Assets | 1,595.6 | 1,470.6 | 1,004.8 | 0 | 43.9 | 0.2 |
| Total Assets | 1,763.1 | 1,777.5 | 1,413.3 | 502.8 | 89.2 | 0.6 |
| Current Liabilities | ||||||
| Account Payables | 0 | 238.6 | 176.6 | 0 | 5.1 | 0.2 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 65.1 | 0 | 0 |
| Total Current Liabilities | 0 | 238.6 | 176.6 | 65.1 | 5.1 | 0.2 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 0 | 421.3 | 109.8 | 102.8 | 85.7 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 731.5 | 1.6 | 9.8 | (125.4) | 0.1 | 0 |
| Total Non-Current Liabilities | 731.5 | 466.6 | 140.9 | 0 | 85.8 | 0 |
| Total Liabilities | 731.5 | 705.2 | 317.4 | 200.3 | 90.9 | 0.2 |
| Stockholders' Equity | ||||||
| Common Stock | 0.6 | 0.6 | 0.6 | 0.6 | 0.9 | 0.4 |
| Retained Earnings | (347.7) | (321.9) | (133.2) | 0 | (6.4) | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 3.6 | 0 |
| Total Stockholders' Equity | 1,031.7 | 1,072.3 | 1,095.9 | 302.5 | (1.8) | 0.4 |
| Total Liabilities & Equity | 1,763.1 | 1,777.5 | 1,413.3 | 502.8 | 89.2 | 0.6 |
| Debt Metrics | ||||||
| Total Debt | 0 | 465.0 | 131.1 | 125.4 | 85.7 | 0 |
| Net Debt | (62.5) | 257.5 | (277.4) | (57.6) | 45.4 | (0.2) |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | (15.3) | 134.0 | 104.3 | 0 | 0 | 0 |
| Change in Working Capital | 20.4 | 22.4 | (0.2) | 0 | (0.6) | 0.0 |
| Other Non-Cash Items | (28.0) | 25.0 | 3.2 | 346.8 | 4.4 | 0.0 |
| Operating Cash Flow | (48.7) | (7.3) | (25.9) | 0 | (2.6) | (0.0) |
| Investing Activities | ||||||
| Capital Expenditure | (185.0) | (441.2) | (473.0) | 0 | (42.8) | (0.0) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 6.3 | 0 | 0 | 0 |
| Investing Cash Flow | (185.0) | (441.2) | (473.9) | 0 | (42.8) | (0.0) |
| Financing Activities | ||||||
| Net Debt Issuance | 82.7 | 283.3 | (5) | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (0.6) | 0 | (14.4) | 0 | 84.9 | 0 |
| Financing Cash Flow | 82.1 | 283.3 | 725.3 | 0 | 85.5 | 0.3 |
| Cash Position | ||||||
| Net Change in Cash | (151.6) | (165.2) | 225.5 | 182.8 | 40.1 | 0.2 |
| Cash at Beginning | 243.3 | 408.5 | 183.0 | 0.2 | 0.2 | 0 |
| Cash at End | 91.7 | 243.3 | 408.5 | 183.0 | 40.3 | 0.2 |
| Free Cash Flow | (233.6) | (448.5) | (498.8) | 0 | (45.4) | (0.1) |
| Key Metrics | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | (26.8) | (166.2) | (134.3) | (37.8) | (5.6) | (0.1) |
| Net Income | (25.8) | (188.7) | (133.2) | (346.8) | (6.3) | (0.1) |
| EPS (Diluted) | -0.04 | -0.30 | -0.21 | -0.84 | -0.02 | -0.00 |
| Balance Sheet | ||||||
| Cash & Equivalents | 62.5 | 207.5 | 408.5 | 183.0 | 40.3 | 0.2 |
| Total Assets | 1,763.1 | 1,777.5 | 1,413.3 | 502.8 | 89.2 | 0.6 |
| Total Debt | 0 | 465.0 | 131.1 | 125.4 | 85.7 | 0 |
| Stockholders' Equity | 1,031.7 | 1,072.3 | 1,095.9 | 302.5 | (1.8) | 0.4 |
| Cash Flow | ||||||
| Operating Cash Flow | (48.7) | (7.3) | (25.9) | 0 | (2.6) | (0.0) |
| Capital Expenditure | (185.0) | (441.2) | (473.0) | 0 | (42.8) | (0.0) |
| Free Cash Flow | (233.6) | (448.5) | (498.8) | 0 | (45.4) | (0.1) |