🇺🇸Axe Compute (Nasdaq: AGPU), which retains a legacy oncology unit, reported $3.2 million in compute revenue and more than $3 billion in signed contracts.

Axe Compute reported $3.2 million of second-quarter revenue, representing its first full quarter of compute-service revenue and an increase of more than 90 times sequentially. All of that revenue came from Axe Compute Access, which rents already-online third-party graphics processing unit capacity; revenue from its dedicated Axe Compute Build contracts begins only when deployments go live.

The company said it signed more than $2.8 billion of new contracts, bringing its 2026 signed contracted value above $3 billion. Management’s stated expected annualized revenue run rate of more than $696 million upon full deployment is forward-looking rather than recognized revenue, as are the chief executive’s target of signing another $2 billion of contracts before year-end and associated deployment expectations.

Axe Compute recorded a $17.2 million net loss, including a $13.1 million non-cash loss on digital assets, and approximately negative $4.9 million of adjusted earnings before interest, taxes, depreciation and amortization. It ended the quarter with $21.9 million in cash, up from $6.9 million on March 31, and reported $60.8 million of customer prepayments.

The Nasdaq-listed company sources GPU capacity and coordinates hardware, colocation, networking, storage, power infrastructure and financing for customers. It continues to evaluate strategic alternatives for Helomics, its legacy oncology drug-discovery operation and proprietary tumor-sample biobank, which is outside its core compute-infrastructure business.