The Company currently expects to report first quarter 2026 revenue of approximately $44.0 million, representing an increase of approximately 76% compared to revenue of $25.0 million for the first quarter of 2025.
The anticipated increase in revenue was driven by the Company's Gresham Worldwide, Inc. ("Gresham") and Ault Lending, LLC ("Ault Lending") subsidiaries. The current quarter includes approximately $10 million of revenue attributable to Gresham following its emergence from bankruptcy in the fourth quarter of 2025, which was not included in the prior-year comparable period. In addition, during March 2026, the Company received approximately $10 million attributable to Ault Lending's legacy ownership interests in connection with the previously announced litigation settlement, which is expected to be recognized as revenue during the first quarter.
Revenue from the Company's other operating businesses remained solid, including approximately $11 million from crane operations, $5 million from crypto asset mining, and $4 million from hotel and real estate operations.
On March 11, 2026, the Company announced full-year 2026 revenue guidance in the range of $180 million to $200 million. Based on its current first quarter performance and operating trajectory, the Company is evaluating whether to reaffirm or increase that previously announced guidance, with any update expected to be provided shortly after the final first quarter ended March 31, 2026 financials are reported.
Milton "Todd" Ault III, Executive Chairman of Hyperscale Data, stated:
"Our preliminary first quarter results reflect the strength of our diversified platform and the successful monetization of legacy assets. The contributions from Gresham, the settlement proceeds received by Ault Lending, and continued performance across our operating subsidiaries provide additional momentum as we move through 2026. At the same time, we are starting to see meaningful traction across our AI data center platform, robotics initiatives, blockchain infrastructure, and financial services operations, which we believe are beginning to work together in a more cohesive and scalable way. As these businesses continue to mature and integrate, we believe they can become important drivers of long-term growth and stockholder value. Based on this start to the year, we believe we are well positioned relative to our previously announced revenue outlook."
The preliminary financial results presented in this press release are based on the Company's current expectations and may be adjusted as part of the completion of its quarterly financial closing procedures. The Company expects to report its full financial results for the first quarter of 2026 in May 2026. Revenues from Ault Lending's trading activities include net gains on equity securities, including unrealized gains and losses from market price changes. These gains and losses have caused, and will continue to cause, significant volatility in periodic earnings relating to such reporting segment.
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