Grass, a decentralized bandwidth-sharing and AI data infrastructure project, said its foundation-owned subsidiary Grass DataCo Ltd. provides data infrastructure to AI labs training frontier models. The project also released an independent revenue verification prepared by Regen Financial, covering results through the second quarter of 2026.
Grass said revenue generated from customer contracts goes directly to Grass DataCo Ltd., not Wynd Labs. It described Wynd Labs as an independent vendor that helps build products and handles sales and marketing. The structure, according to Grass, is intended to keep DataCo revenue within the Grass ecosystem.
Verification covered two reporting periods
The verification document said 100% of work orders across two periods were reviewed and traced to cash receipts.
- For the first period, from March 14, 2025 to Dec. 31, 2025, billed revenue was about $17.5869 million, while cash receipts verified through the procedure were about $16.2395 million.
- For the second period, from Jan. 1, 2026 to June 30, 2026, billed revenue was about $14.5276 million, while cash-verified receipts were about $11.3514 million.
Across both periods, billed revenue totaled about $32.1145 million and verified cash receipts came to about $27.5909 million. The roughly $4.5236 million gap was described in the document as the portion that had not yet been independently confirmed through cash receipt procedures as of the procedure date, largely tied to long-term contract delivery and payment cycles of around 60 days.
Grass says the work was not an audit
The document also stated that the engagement was a due diligence procedure rather than an audit or assurance engagement, and that it did not express an opinion on the overall financial statements.
Grass said it reinvests most of its revenue back into the business. The project added that it prepaid for compute and storage in 2025, a move it said reduced network operating expenses by more than $2.5 million per month on average and was one of the direct reasons it is currently profitable.
Grass also said it will continue building its ecosystem around the token and views financial transparency as part of building trust with network participants and token holders.