Applied Digital Stock After Q1: $341.9 Million Revenue,…
By Tobi Opeyemi Amure
AI summary of the source article
Applied Digital reported fiscal first-quarter revenue of $341.9 million, representing a 322 percent increase year over year, driven by $262.8 million in services revenue and $79.1 million in data center rental revenue. While adjusted revenue of $300.4 million and adjusted EBITDA of $64.4 million beat expectations, the company posted a widened GAAP net loss of $221.0 million, or $0.76 per share. Leases now cover approximately 1.41 GW across five campuses, representing around $36 billion of base-term revenue. To fund expansion, including Polaris Forge 1, the company issued $1.59 billion in senior secured notes at a 7 percent coupon.
Why it matters
The company's expansion highlights strong demand for hyperscaler AI capacity, though high debt and widening GAAP losses make ongoing access to capital markets critical.
Key facts
- Revenue reached $341.9 million, up 322 percent year on year, with adjusted EBITDA rising to $64.4 million.
- GAAP net loss attributable to common stockholders widened to $221.0 million, or $0.76 per share.
- Leases cover approximately 1.41 GW across five campuses, totaling roughly $36 billion of base-term revenue.