undamentalytics Newsletter

Internet Services & Infrastructure stocks

44 US-listed companies in internet services & infrastructure, with $36.2bn of combined revenue in their latest fiscal years. Coreweave, Inc. is the largest ($5.1bn). The fastest grower with at least $100m of revenue in both years is Coreweave, Inc., up 167.9%. The median company grew 15.5% with a net margin of −9.5%.

Companies44
Combined revenue$36.2bn
Median revenue growth15.5%
Median net margin−9.5%
Median return on equity−12.9%
#CompanyRevenueGrowthNet marginROEFiscal year
1 Coreweave, Inc.CRWV $5.1bn 167.9% −22.7% −79.9% 2025
2 Twilio IncTWLO $5.1bn 13.7% 0.7% 0.4% 2025
3 Godaddy Inc.GDDY $5.0bn 8.3% 17.7% 192.9% 2025
4 Akamai TechnologiesAKAM $4.2bn 5.4% 10.7% 9.2% 2025
5 Rackspace Technology, Inc.RXT $2.7bn −1.9% −8.4% — 2025
6 Cloudflare, Inc.NET $2.2bn 29.8% −4.7% −8.2% 2025
7 Verisign IncVRSN $1.7bn 6.4% 49.8% — 2025
8 Global-e Online Ltd.GLBE $962m 27.8% 7.1% 7.5% 2025
9 Mara Holdings, Inc.MARA $907m 38.2% −144.6% −34.5% 2025
10 Digitalocean Holdings, Inc.DOCN $901m 15.5% 28.8% — 2025
11 Cleanspark, Inc.CLSK $766m 102.2% 47.6% 18.5% 2025
12 Legalzoom.com, Inc.LZ $756m 10.9% 2.0% 11.6% 2025
13 IREN LtdIREN $707m 41.1% −99.4% −23.4% 2026
14 Riot Platforms, Inc.RIOT $647m 71.9% −102.4% −22.1% 2025
15 Fastly, Inc.FSLY $624m 14.8% −19.5% −12.8% 2025
16 Applied Digital Corp.APLD $611m 167.5% −40.9% −22.6% 2026
17 Nebius Group N.V.NBIS $530m 479.0% 15.6% 2.1% 2025
18 Bitfufu Inc.FUFU $478m 3.1% −6.5% −20.0% 2025
19 Fiverr International Ltd.FVRR $431m 10.1% 4.9% 5.4% 2025
20 Core Scientific, Inc.CORZ $319m −37.5% −90.5% — 2025
21 Hive Digital Technologies Ltd.HIVE $298m 158.3% −49.8% −30.3% 2026
22 Hut 8 Corp.HUT $235m 44.8% −96.2% −18.9% 2025
23 Cipher Digital Inc.CIFR $224m 48.0% −367.2% −110.6% 2025
24 Terawulf Inc.WULF $168m 20.3% −392.6% — 2025
25 DHI Group, Inc.DHX $128m −9.9% −10.6% −12.9% 2025
26 Bit Digital, IncBTBT $114m 5.1% −70.7% −13.5% 2025
27 TravelzooTZOO $92m 9.3% 5.1% — 2025
28 Whitefiber, Inc.WYFI $79m 66.2% −31.2% −7.6% 2025
29 Bgin Blockchain LtdBGIN $67m −77.7% −262.6% −134.0% 2025
30 Marchex IncMCHX $45m −5.6% −11.5% −16.7% 2025
31 Big Digital Energy, Inc.BGDE $40m −32.9% −59.5% — 2025
32 Eightco Holdings Inc.ORBS $33m −16.8% −794.4% — 2025
33 Soluna Holdings, IncSLNH $30m −21.8% −179.7% — 2025
34 Upexi, Inc.UPXI $25m 58.1% −984.3% — 2026
35 Btcs Inc.BTCS $16m 304.8% −202.2% −38.5% 2025
36 Openworld, Inc.OPNW $16m −32.3% −29.9% −46.3% 2025
37 BTC Digital Ltd.BTCT $14m 20.3% −64.5% −23.5% 2025
38 Darkhorse Technologies Inc.DRK $11m −32.7% −192.1% −68.6% 2025
39 Onfolio Holdings, IncONFO $11m 36.5% −24.1% −89.4% 2025
40 Directbooking Technology Co., Ltd.ZDAI $9m −53.6% −148.8% −119.3% 2026
41 Powercompute, Inc.PWCM $9m −19.6% −304.4% −79.6% 2025
42 Datacentrex, Inc.DTCX $7m 939640.5% −122.1% −23.9% 2025
43 Z Squared Inc.ZSQR $1m — −874.3% — 2025
44 Lite Strategy, Inc.LITS $0 −100.0% — −63.8% 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other technology industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.