# Fermi Inc.: overview FRMI · Nasdaq · CIK 2071778 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/frmi.md) · [Financials](/companies/frmi/financials.md) · [Filings](/companies/frmi/filings.md) · [Insiders](/companies/frmi/insiders.md) Revenue is not reported in this company’s XBRL financial statements. ## Last eight quarters | Line item | Unit | period not labelled (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | not reported | not reported | not reported | not reported | not reported | not reported | | Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | | Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | | Net margin | % | not reported | not reported | not reported | not reported | not reported | not reported | | Diluted EPS | $ per share | [0.00](/filings/0002071778-26-000032.md) | [(0.02)](/filings/0002071778-26-000051.md) | [(0.84)](/filings/0001213900-25-109371.md) | not reported | [(0.30)](/filings/0002071778-26-000032.md) | [(0.04)](/filings/0002071778-26-000051.md) | | Free cash flow | $m | [(0.1)](/filings/0002071778-26-000032.md) | [(42.9) d](/filings/0002071778-26-000051.md) | [(5.8) d](/filings/0001213900-25-109371.md) | [(506) d](/filings/0002071778-26-000010.md) | [(449)](/filings/0002071778-26-000032.md) | [(234) d](/filings/0002071778-26-000051.md) | - Revenue. XBRL not reported. - Gross margin (gross profit / revenue). XBRL not reported. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss. Derived values: 12-month figure less the 9-month figure. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss. Derived values: 12-month figure less the 9-month figure. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure. ## Last five fiscal years | Line item | Unit | FY2025 (2025-12-31) | | --- | --- | ---: | | Revenue | $m | not reported | | Gross margin | % | not reported | | Operating margin | % | not reported | | Net margin | % | not reported | | Diluted EPS | $ per share | [(1.13)](/filings/0002071778-26-000010.md) | | Free cash flow | $m | [(603)](/filings/0002071778-26-000010.md) | - Revenue. XBRL not reported. - Gross margin (gross profit / revenue). XBRL not reported. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing. ## Insider purchases and sales The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/frmi/insiders.md) | Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing | | --- | --- | --- | --- | ---: | ---: | ---: | --- | | 2026-10-20 | [Neugebauer Toby R](/insiders/1098464.md) | 10% owner | Sale (S) | 420,749 | $3.0356 | $1.3m | [Form 4](/filings/0000905148-26-004542.md) | ## Funds that report holding it From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md) | Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before | | --- | --- | ---: | ---: | --- | --- | | [SRS Investment Management, LLC](/funds/1503174.md) | 2026-06-30 | $185.1m | 20,205,579 | | New +20,205,579 | | [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $78.7m | 8,587,055 | | Added +2,365,349 | | [Point72 Asset Management, L.P.](/funds/1603466.md) | 2026-06-30 | $64.5m | 7,036,123 | | Added +5,790,511 | | [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $49.6m | 5,418,891 | | Added +4,590,533 | | [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $45.2m | 4,938,700 | Call | Added +3,373,300 | | [MILLENNIUM MANAGEMENT LLC](/funds/1273087.md) | 2026-06-30 | $39.4m | 4,303,619 | | Added +4,244,460 | | [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $38.5m | 4,202,985 | | Added +3,397,240 | | [MARSHALL WACE, LLP](/funds/1318757.md) | 2026-06-30 | $38.1m | 4,160,290 | | Added +3,883,540 | | [ExodusPoint Capital Management, LP](/funds/1736225.md) | 2026-06-30 | $37.3m | 4,068,302 | | Added +4,037,542 | | [Gotham Asset Management, LLC](/funds/1510387.md) | 2026-06-30 | $36.1m | 3,943,404 | | Added +3,586,239 | ## Recent filings [All 164 filings](/companies/frmi/filings.md) | Filed | Accepted | Form | What it is | Accession | | --- | --- | --- | --- | --- | | 2026-10-16 | 10:06 ET | [8-K](/filings/0001213900-26-109980.md) | 8.01 Other events | 0001213900-26-109980 | | 2026-10-14 | 12:00 ET | [8-K](/filings/0001213900-26-109227.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-109227 | | 2026-10-02 | 20:08 ET | [DEF 14A](/filings/0001213900-26-106378.md) | Proxy statement, period 2026-10-30 | 0001213900-26-106378 | | 2026-08-31 | 20:15 ET | [8-K](/filings/0001213900-26-095719.md) | 5.08 Item not in the standard list; 8.01 Other events | 0001213900-26-095719 | | 2026-08-14 | 20:41 ET | [10-Q](/filings/0002071778-26-000051.md) | Quarterly report, period 2026-06-30 | 0002071778-26-000051 | | 2026-08-14 | 23:19 ET | [8-K](/filings/0001213900-26-089340.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-089340 | | 2026-08-13 | 11:10 ET | [8-K](/filings/0002071778-26-000046.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0002071778-26-000046 | | 2026-07-23 | 20:34 ET | [8-K](/filings/0001213900-26-080917.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-080917 | | 2026-07-21 | 20:01 ET | [8-K/A](/filings/0001213900-26-079998.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001213900-26-079998 | | 2026-07-15 | 20:54 ET | [8-K](/filings/0001213900-26-078366.md) | 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, 2025](/filings/0002071778-26-000010.md), filed Mar 30, 2026. ## Forecast league Not in this season’s league. [This season’s league](/leagues.md) ## About the filer - CIK: 2071778 - Tickers: FRMI - Exchange: Nasdaq - SIC code: 6798 Real Estate Investment Trusts - State of incorporation: TX - Filer category:
Emerging growth company Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:50 ET. No prices; not investment advice.