Fermi Inc.
FRMINasdaqCIK 2071778Real estateFiscal year ends Dec 31
Revenue is not reported in this company’s XBRL financial statements.
Latest quarter: Q2 FY2026
Three months to Jun 30, 2026, against the same quarter a year earlier.
- Revenuenot reported (Revenue not reported)No year-earlier figure to compare
- Gross marginnot reported (Gross profit and Revenue not reported)No year-earlier figure to compare
- Operating marginnot reported (Revenue not reported)No year-earlier figure to compare
- Net marginnot reported (Revenue not reported)No year-earlier figure to compare
- Diluted EPS−$0.04Diluted EPS, Q2 FY2026, three months to 2026-06-30−$0.04 per share. XBRL concept
us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0002071778-26-000051.Report this figure−100.0% on a year earlier - Free cash flow−$233.6mFree cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$48.7m. XBRL concept
us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Capital expenditure: $185.0m. XBRL conceptus-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Report this figure−445.2% on a year earlier
Last eight quarters
Full statements| Line item | Unit | period not labelled2025-03-31 | period not labelled2025-06-30 | Q3 FY20252025-09-30 | Q4 FY20252025-12-31 | Q1 FY20262026-03-31 | Q2 FY20262026-06-30 | Shape over the periods |
|---|---|---|---|---|---|---|---|---|
| Revenue | $m | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | |
| Operating margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | |
| Net margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | not reported (Revenue not reported) | |
| Diluted EPS | $ per share | 0.00Diluted EPS, period not labelled, three months to 2025-03-31$0.00 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Report this figure | (0.02)Diluted EPS, period not labelled, three months to 2025-06-30−$0.02 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0002071778-26-000051.Report this figure | (0.84)Diluted EPS, Q3 FY2025, three months to 2025-09-30−$0.84 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2025-11-12, accession 0001213900-25-109371.Report this figure | not reported (Diluted EPS not reported) | (0.30)Diluted EPS, Q1 FY2026, three months to 2026-03-31−$0.30 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Report this figure | (0.04)Diluted EPS, Q2 FY2026, three months to 2026-06-30−$0.04 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0002071778-26-000051.Report this figure | |
| Free cash flow | $m | (0.1)Free cash flow, period not labelled, three months to 2025-03-31. operating cash flow − capital expenditureOperating cash flow: −$46.0k. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Capital expenditure: $32.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Report this figure | (42.9)Free cash flow, period not labelled, three months to 2025-06-30. operating cash flow − capital expenditureOperating cash flow: −$2.6m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Capital expenditure: $40.3m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Report this figure | (5.8)Free cash flow, Q3 FY2025, three months to 2025-09-30. operating cash flow − capital expenditureOperating cash flow: −$5.7m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2025-11-12, accession 0001213900-25-109371. Derived: 9-month figure less the 6-month figure.Capital expenditure: $153.9k. XBRL concept us-gaap:PaymentsToAcquireProductiveAssets. 10-Q filed 2025-11-12, accession 0001213900-25-109371.Report this figure | (506)Free cash flow, Q4 FY2025, three months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$25.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0002071778-26-000010. Derived: 12-month figure less the 9-month figure.Capital expenditure: $480.3m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-03-30, accession 0002071778-26-000010. Derived: 12-month figure less the 9-month figure.Report this figure | (449)Free cash flow, Q1 FY2026, three months to 2026-03-31. operating cash flow − capital expenditureOperating cash flow: −$7.3m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Capital expenditure: $441.2m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-05-15, accession 0002071778-26-000032.Report this figure | (234)Free cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$48.7m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Capital expenditure: $185.0m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0002071778-26-000051. Derived: 6-month figure less the 3-month figure.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Last five fiscal years
| Line item | Unit | FY20252025-12-31 | Shape over the periods |
|---|---|---|---|
| Revenue | $m | not reported (Revenue not reported) | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | |
| Operating margin | % | not reported (Revenue not reported) | |
| Net margin | % | not reported (Revenue not reported) | |
| Diluted EPS | $ per share | (1.13)Diluted EPS, FY2025, twelve months to 2025-12-31−$1.13 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2026-03-30, accession 0002071778-26-000010.Report this figure | |
| Free cash flow | $m | (603)Free cash flow, FY2025, twelve months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$34.2m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-03-30, accession 0002071778-26-000010.Capital expenditure: $569.3m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-03-30, accession 0002071778-26-000010.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Insider purchases and sales
All insider transactionsThe last 20 open-market transactions reported on Form 4 (codes P and S). The reported price is the price per share the insider stated on the form: filing data, not a market price.
| Date | Insider | Transaction | Shares | Reported price | Value | Filing |
|---|---|---|---|---|---|---|
| 2026-10-20 | Neugebauer Toby R10% owner | Sale | 420,749 | $3.0356 | $1.3m | Form 4 |
Funds that report holding it
All fundsFrom each manager's latest Form 13F, largest reported value first. Reported value is as filed at the quarter end: filing data, not a price. A put or call is an option position, not shares held.
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|
| SRS Investment Management, LLC | 2026-06-30 | $185.1m | 20,205,579 | New+20,205,579 | |
| CITADEL ADVISORS LLC | 2026-06-30 | $78.7m | 8,587,055 | Added+2,365,349 | |
| Point72 Asset Management, L.P. | 2026-06-30 | $64.5m | 7,036,123 | Added+5,790,511 | |
| D. E. Shaw & Co., Inc. | 2026-06-30 | $49.6m | 5,418,891 | Added+4,590,533 | |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2026-06-30 | $45.2m | 4,938,700 | Call | Added+3,373,300 |
| MILLENNIUM MANAGEMENT LLC | 2026-06-30 | $39.4m | 4,303,619 | Added+4,244,460 | |
| BlackRock, Inc. | 2026-06-30 | $38.5m | 4,202,985 | Added+3,397,240 | |
| MARSHALL WACE, LLP | 2026-06-30 | $38.1m | 4,160,290 | Added+3,883,540 | |
| ExodusPoint Capital Management, LP | 2026-06-30 | $37.3m | 4,068,302 | Added+4,037,542 | |
| Gotham Asset Management, LLC | 2026-06-30 | $36.1m | 3,943,404 | Added+3,586,239 |
Recent filings
All 164 filingsReports and events: 10-K, 10-Q, 8-K, proxy statements and ownership schedules.
| Filed | Form | What it is | Accession number |
|---|---|---|---|
| 2026-10-1610:06 ET | 8-K | 8.01 Other events | 0001213900-26-109980 |
| 2026-10-1412:00 ET | 8-K | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-109227 |
| 2026-10-0220:08 ET | DEF 14A | Proxy statementPeriod 2026-10-30 | 0001213900-26-106378 |
| 2026-08-3120:15 ET | 8-K | 5.08 Item not in the standard list; 8.01 Other events | 0001213900-26-095719 |
| 2026-08-1420:41 ET | 10-Q | Quarterly reportPeriod 2026-06-30 | 0002071778-26-000051 |
| 2026-08-1423:19 ET | 8-K | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-089340 |
| 2026-08-1311:10 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0002071778-26-000046 |
| 2026-07-2320:34 ET | 8-K | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-080917 |
| 2026-07-2120:01 ET | 8-K/A | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-079998 |
| 2026-07-1520:54 ET | 8-K | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-078366 |
Latest annual report
Form 10-K for the fiscal year ended Dec 31, 2025Filed Mar 30, 2026. Its page lists the documents and the extracted sections, such as Business and Risk factors.
Forecast league
Not in this season’s league. The league lists companies whose quarter has ended and whose results are not yet filed.This season’s league
About the filer
- CIK
- 2071778
- Tickers
- FRMI
- Exchange
- Nasdaq
- SIC code
- 6798 Real Estate Investment Trusts
- Sector
- Real estate
- Fiscal year ends
- Dec 31
- Incorporated in
- TX
- Filer category
- <br>Emerging growth company
- Former names
- Fermi LLC (to 2025-10-01)
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:50 ET. Listed shows no prices and gives no investment advice.