DayOne’s IPO Filing Shows the Cost of Data-Centre Growth
Matthew Leo · Published October 9, 2026 · Business & Policy
DayOne Data Centers has filed for a US public offering, giving investors and policymakers a detailed look at what rapid data-centre expansion actually costs.
The Singapore-based company reported US$512 million in revenue for the six months ended June 30, 2026. That was up 238 per cent from US$151.5 million during the same period a year earlier, according to its Form F-1 filed with the US Securities and Exchange Commission.
Its net loss also grew, from US$12.6 million to US$77.2 million. Those two numbers are not contradictory. They show a company adding capacity quickly while carrying the financing, construction and operating costs that come with it.
Power and depreciation grew with the business
DayOne said cost of revenue rose 249.5 per cent to US$375.6 million. It attributed the increase mainly to higher power costs from greater customer consumption and higher depreciation as more facilities entered service.
The company’s billings capacity increased from 213 megawatts in June 2025 to 666 MW in June 2026. Revenue rose as new capacity in Johor, Batam and Thailand was delivered to customers.
Interest expense reached US$62.3 million in the first half of 2026, up from US$49.6 million a year earlier. DayOne said the change reflected increased debt. Its filing also records a US$62-million one-time fee associated with terminating a services agreement and US$38 million in share-based compensation during the period.
That context matters. The US$77.2-million loss should not be treated as a simple measure of whether an individual data centre is profitable. It includes financing costs, foreign-exchange effects and company-level expenses alongside operating results.
The filing does not confirm a US$5-billion IPO
DayOne has applied to list American depositary shares on Nasdaq under the symbol DODC. The preliminary filing leaves the number of shares and price range blank.
Earlier reporting suggested the company could seek as much as US$5 billion at a valuation near US$20 billion. Those figures are not confirmed offering terms. They may change before pricing, or the offering may not proceed on that scale.
Why the numbers matter in Canada
Canadian data-centre proposals are often presented through investment totals, construction jobs and projected computing capacity. DayOne’s filing shows why governments and utilities also need operating details.
A credible Canadian review should ask:
- How much firm electricity capacity is needed at opening and at full build-out?
- Who pays for transmission, substations and backup infrastructure?
- How many permanent jobs remain after construction?
- What water source and cooling method will be used?
- What happens to public infrastructure if customer demand or financing changes?
Mapletechie has raised those questions in its reporting on Meta’s proposed Alberta data centre and the need for better Canadian water disclosure.
DayOne is not announcing a Canadian facility, and its Asian operating costs cannot simply be applied to Alberta, Ontario or Quebec. The useful comparison is structural: fast capacity growth can produce impressive revenue while power costs, depreciation, debt and infrastructure commitments rise at the same time.
Sources: SEC filing index; DayOne Form F-1; Reuters coverage of the filing.
Tags: DayOne Data Centers, data centres, IPO, AI infrastructure, electricity