🇺🇸QumulusAI (Nasdaq: QMLS) reported $6.7 million in quarterly revenue, up 118%, with AI compute contributing 84%.

QumulusAI reported second-quarter 2026 revenue of $6.7 million, an increase of $3.6 million, or 118%, from $3.1 million in the corresponding 2025 quarter. Compute-power revenue reached $5.6 million, while AI compute represented 84% of total revenue, up from 61% in the first quarter of 2026 and 43% in the second quarter of 2025.

The company reported a 67% gross margin and said GPU activations allowed revenue to grow faster than colocation costs. Deferred revenue increased by $30.5 million during the first half of 2026, while operating cash flow totaled $22.3 million.

QumulusAI expanded its deployed graphics processing unit fleet from 952 to 3,088 during the quarter, an increase of approximately 224%. It ended the quarter with 8 megawatts of high-performance computing capacity covered by executed lease and colocation agreements.

This was QumulusAI’s first quarterly report after its shares began trading on the Nasdaq Global Market under QMLS on July 16, 2026. The business traces its origins to data-center operator SPRE and blockchain managed-services provider WAHA, later adding GPU-as-a-Service operations through its acquisition of The Cloud Minders.