Datacentrex Posts $1.7 Million in Revenue as Margins Fall in Third Quarter
Key Facts
Datacentrex reported on November 10 results for the third quarter ended September 30, 2026, posting revenue of about $1.7 million, down 29% from the same period in 2025. The statement showed gross profit falling sharply to about $80,000, with the margin dropping to 4.6%. Adjusted EBITDA, meanwhile, came to about $1.3 million, compared with an adjusted loss of the same amount in the second quarter. But this result included net realized and unrealized gains of $2.2 million from digital assets. The results combine pressure on operating activity with improvement in the adjusted measure, while the company also announced details of its investment in Eagle LNG, which was completed in August.
Gross profit in the third quarter of 2025 was about $1.5 million, with a margin of 59.2%, according to the company's comparison. Datacentrex attributed the decline to lower revenue and higher direct production costs for its larger fleet. The comparison shows that the contraction in sales coincided with greater pressure from operating costs, reducing the share of revenue left after direct costs. Adjusted EBITDA rose from about $770,000 in the third quarter of 2025 to $1.3 million in the latest quarter. The company said the $2.2 million in digital asset gains was included in the calculation of this measure, placing that support alongside operating performance when assessing the shift from the second-quarter loss.
The company recorded a GAAP net loss of about $2.6 million, or $0.06 per share, compared with a net loss of $1.5 million in the third quarter of 2025. The results included net realized and unrealized gains of $2.2 million from digital assets. Those gains therefore did not prevent the company from recording a larger net loss than in the year-earlier period. Net cash used in operating activities was about $867,000. That compares with net cash generated of $411,000 a year earlier and cash use of $61,000 in the second quarter of 2026, indicating weaker cash flow than in both periods.
Datacentrex ended September with about $27.5 million in cash and cash equivalents and $1.7 million in digital assets, totaling nearly $29.3 million, with no outstanding debt. Shareholders' equity stood at about $72.6 million at month-end. These balances followed the investment transaction completed on August 28, when the company purchased $30 million of Class A units in ELNG Equity LLC, the holding company that owns Eagle LNG, for a 10.5% equity stake. An affiliate of Energy & Minerals Group also invested an additional $10 million at the same price per unit. DTCX shares closed at $1.02 on November 9, according to EL7 data.
The company describes Eagle LNG as having an operating business and a track record of long-term supply contracts: it has produced more than 300 million gallons of liquefied natural gas since 2018 and completed more than 750 marine fueling operations without incidents. Supply agreements include terms of at least 10 years and take-or-pay provisions. The customer base and marine fueling capabilities offer additional growth opportunities, according to Datacentrex's statement, although the statement does not identify these factors as a separate formal investment objective. Current production constraints limit Eagle's ability to meet additional demand from the marine fueling sector and the Caribbean region. The company said increased capacity, including the permitted export facility under development in Jacksonville, could support growth, subject to financing and execution.
Eagle's ability to turn these opportunities into additional supply remains tied to capacity expansion, financing and execution, Datacentrex said. At Datacentrex itself, installation and commissioning of more than 500 additional mining machines began on October 14, after the machines had been paid for in advance. The company said completing their deployment could raise connected hash rate by about 21% to nearly 52.2 terahashes per second. This step provides subsequent operating context for the quarterly results, alongside the revenue decline and higher cash use recorded during the period. The cash and digital asset balances reported at the end of September, with no outstanding debt, also remain part of the company's financial position following the Eagle LNG investment.