IOND · Ionic Digital Inc.
Price & Indicators
The closing range uses available history since Jul 28, 2026; less than a full year is stored.
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Jul 22, 2026TL;DR. Ionic Digital completed its direct listing and began cash rent on its Ward County N-Scale lease while reaffirming full-year 2026 guidance, but faces regulatory risk as ERCOT's batch zero review could delay the 466 MW expansion and its Q2 GAAP result was a net loss driven by a non-cash Bitcoin fair value mark and tax provision.
- + Cash rent commenced in August under the N-Scale lease with a fully ramped run rate of ~$183M by end of 2028.
- + Revenue mix shifted to 90% digital infrastructure leasing with adjusted gross margin of 93% and Adjusted EBITDA of $37.6M vs $3.8M prior year.
- + Company is debt-free with over $415M cash plus $168.7M in Bitcoin and reaffirmed 2026 outlook.
- + N-Scale lease amended to 323 MW and $2.6B of contracted revenue with NVIDIA guaranteeing initial rent and Microsoft option on additional power.
- − Q2 GAAP net loss of $35.3M driven by $28.2M non-cash Bitcoin fair value loss and $27.2M tax provision.
- − Reported Q2 digital infrastructure revenue of $43.8M is entirely straight-line non-cash; cash conversion is still ramping.
- − G&A was elevated at $19.5M, including $9M of non-cash stock-based comp and ~$2.9M of one-time direct listing/private placement costs.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Capital Markets — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
IOND
this stock
Ionic Digital Inc.
|
$3.43B | — | — | — | 1.4% |
|
MS
Morgan Stanley
|
$341.94B | +22.6% | +5.5% | 17.6 | 0.9% |
|
GS
Goldman Sachs Group Inc
|
$302.41B | +18.2% | +8.9% | 16.0 | 2.1% |
|
SCHW
Schwab Charles Corp
|
$189.00B | +9.4% | +22.0% | 19.9 | 1.0% |
|
HOOD
Robinhood Markets, Inc.
|
$109.79B | +8.0% | +51.6% | 54.0 | 3.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| IOND | +6.8% | +20.7% | — | +6.1% | — |
| SPY | +0.1% | -0.4% | +15.1% | +0.4% | +12.9% |
| vs SPY | +6.7% | +21.1% | — | +5.7% | — |