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โข Adj. EPS: -$0.01 (Est. -$0.30) โ
โข Revenue: $341.9M (Est. $124.57M) โ , +322% YoY.
โข Adj. Revenue: $300.4M, vs. $64.2M YoY.
โข Adj. EBITDA: $64.4M, vs. $0.5M YoY.
โข Net Operating Income: $58.8M.
โข GAAP EPS: -$0.76, vs. -$0.07 YoY.
โข Net Loss: $221.0M, vs. $18.5M YoY.
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๐ฏ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
โข Contracted Capacity: ~1.41 GW across five AI data center campuses.
โข Base-Term Contracted Revenue: ~$36B.
โข Potential Contracted Revenue: ~$86B if all lease renewal options are exercised.
โข Polaris Forge 1: 250 MW operational as of October 1.
โข North Dakota Delivered Capacity: 300 MW expected by year-end 2026.
โข Finland Expansion: Up to ~1 GW of potential power capacity secured.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Revenue surged 322% YoY, significantly exceeding consensus, while Adj. EBITDA jumped to $64.4M.
โข Applied Digital now holds ~$36B in contracted base-term revenue across 1.41 GW of leased capacity, potentially reaching ~$86B with all renewal options exercised.
โข HPC Hosting generated $262.6M in quarterly revenue, including $183.5M from tenant fit-out services and $65.8M in base rent.
โข The company delivered 250 MW of operational capacity at Polaris Forge 1 and targets 300 MW across its North Dakota campuses by year-end.
โข ChronoScale announced a planned 50 MW AI compute deployment with Microsoft using NVIDIA GB300 NVL72 systems.
โข Cash, including restricted cash, totaled $3.7B against $6.4B in debt, while quarterly interest expense rose to $77.4M.
โข Non-GAAP results exclude majority-owned ChronoScale, limiting direct comparability with consolidated results and potentially with consensus estimates.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur goal is to establish Applied Digital as the category leader in the design, construction, deployment, and operation of purpose-built AI factories.โ