GPUSHIGH SIGNALFINANCIAL10-K

Hyperscale Data underwent massive equity dilution with outstanding shares increasing from 1.5M to 439M while significantly scaling operations and burning substantially more cash.

The company executed what appears to be a major financing event or restructuring, diluting existing shareholders by over 28,000% while raising substantial capital that boosted stockholders' equity from $8.6M to $119.8M. The dramatic share count increase suggests either a major equity raise, stock split, or conversion of debt/preferred shares, fundamentally altering the ownership structure and per-share economics for existing investors.

Comparing 2026-04-15 vs 2025-04-15View on EDGAR →
FINANCIAL ANALYSIS

The company underwent a massive transformation with current assets more than doubling to $129.8M and stockholders' equity surging over 1,200% to $119.8M, indicating substantial capital infusion. However, this growth came at a steep cost as operating cash flow deteriorated from -$19.4M to -$62.5M while capital expenditures quintupled to $24.5M, suggesting aggressive expansion that is currently burning through cash at an accelerated rate. The combination of massive dilution and worsening cash burn creates a complex risk-reward profile where the company has more resources but at the expense of existing shareholder value and operational efficiency.

FINANCIAL STATEMENT CHANGES
Stockholders Equity
Balance Sheet
+1286.7%
$8.6M$119.8M

Equity base grew 1286.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Capital Expenditure
Cash Flow
+408.3%
$4.8M$24.5M

Capital expenditure jumped 408.3% — major investment cycle underway; assess returns on deployment.

Accounts Receivable
Balance Sheet
+272.4%
$5.3M$19.6M

Receivables surged 272.4% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Operating Cash Flow
Cash Flow
-222.1%
-$19.4M-$62.5M

Operating cash flow fell 222.1% — earnings quality concerns; investigate working capital changes and non-cash items.

Cash & Equivalents
Balance Sheet
+187.6%
$4.5M$13.1M

Cash position surged 187.6% — strong cash generation or capital raise providing significant financial cushion.

Inventory
Balance Sheet
+164.8%
$1.8M$4.8M

Inventory surged 164.8% — growing significantly faster than typical sales pace; potential demand softening or supply chain overcorrection.

Provision for Credit Losses
P&L
-136%
$5.5M-$2.0M

Provisions reduced 136% — improving credit quality or reserve release boosting reported earnings.

Current Assets
Balance Sheet
+122%
$58.4M$129.7M

Current assets grew 122% — improving short-term liquidity or inventory/receivables build.

Dividends Paid
Cash Flow
+62%
$5.3M$8.6M

Dividend payments increased 62% — management confidence in sustained cash generation.

R&D Expense
P&L
-56.1%
$11.0M$4.8M

R&D spending cut 56.1% — could signal cost discipline or concerning reduction in innovation investment.

LANGUAGE CHANGES
NEW — 2026-04-15
PRIOR — 2025-04-15
ADDED
At April 12, 2026, the registrant had outstanding 415,241,090 shares of Class A common stock and 24,153,459 shares of Class B common stock.
Our Class A common stock and Series D Preferred Stock prices are volatile.
BUSINESS Company Overview Hyperscale Data, Inc., a Delaware corporation (the Company, we, us, our company or similar terminology) was incorporated in September 2017.
Our direct and indirect wholly owned subsidiaries include: Sentinum, Inc.
( Sentinum ), Alliance Cloud Services, LLC ( ACS ); BNI Montana, LLC ( BNI Montana ); and Omnipresent Robotics, LLC ( Omnipresent ).
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REMOVED
There were 1,529,995 shares of Class A common stock outstanding as of April 14, 2025.
Our Class A common stock and Series D Preferred Stock prices are volatile PART I ITEM 1.
BUSINESS Company Overview Hyperscale Data, Inc., a Delaware corporation formerly known as Ault Alliance, Inc., was incorporated in September 2017.
Our direct and indirect wholly owned subsidiaries include (i) Sentinum, Inc.
( Sentinum ), (ii) Alliance Cloud Services, LLC ( ACS ) and (iii) BNI Montana, LLC ( BNI Montana ).
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