Inferra AI / Company / APLD

Applied Digital Corp.

APLD · Information Technology

Last earnings Oct 7, 2026

Key results

Revenuequarter

$341.9 million

Fiscal First Quarter 2027 Financial Highlights Revenues $341.9 million, up 322% from the prior year comparable period Net loss attributable to common stockholders $221.0 million Net loss attributable to common stockholders per basic and diluted share $0.76 Adjusted revenue $300.4 million Adjusted net loss $4.1 million Adjusted net loss per diluted share $0.01 Adjusted EBITDA $64.4 million Net Operating Income $58.8 million Adjusted revenue, Adjusted net income (loss) , Adjusted net income (loss) per diluted share , Adjusted EBITDA, and Net Operating Income are non-GAAP measures.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Adjusted revenuequarter

322%

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Recent Highlights As previously announced on June 8, 2026, signed a 210 MW, 15-year lease at Delta Forge 2 with the Company s tier-one investment grade hyperscaler customer, representing approximately $5.2 billion of base-term contracted revenue.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Those leases represent approximately $36 billion of contracted revenue over their initial base terms, or approximately $86 billion if all renewal options are exercised.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Revenue from our HPC Hosting business totaled $262.6 million for the quarter, including $65.8 million related to base rent, $183.5 million related to tenant fit-out services, and $13.3 million related to tenant recoveries.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

During the three months ended August 31, 2026, the Company generated $37.8 million in revenue from the Data Center Hosting Business segment, compared to $37.9 million during the three months ended August 31, 2025.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Services revenuequarter

$262.8 million

Financial Results from Operations for Fiscal First Quarter 2027 Operating Results Services revenue in the fiscal first quarter 2027 was $262.8 million compared to $80.9 million, up 225% from the fiscal first quarter 2026.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Revenuefull-year

$79.1 million

Data center rental and other revenue was $79.1 million for the three months ended August 31, 2026 compared to no revenue for the three months ended August 31, 2025, as our HPC Hosting Business commenced rental operations in the second quarter of fiscal year 2026.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

This quarter, we recognized $65.8 million in base rental revenue and $13.3 million related to tenant recoveries.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

AI analysis

Q1 2027 · reported Oct 7, 2026

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q1 2027

$341.9M

Full year: $79.1 million

EX-99 · Oct 7, 2026

Services revenue · Q1 2027

$262.8M

EX-99 · Oct 7, 2026

Headline figures

Metric	Q1 2027	Prior qtr	Year ago
Revenue	$341.9 million	—	—
Adjusted revenue	322%	—	—
Services revenue	$262.8 million	—	—

EX-99 · Oct 7, 2026

Guidance · company-stated

No guidance located in the held release

Outlook statement

“These statements use words, and variations of words, such as intend, will, continue, build, future, increase, drive, believe, look, ahead, confident, deliver, outlook, expect, project and predict.”

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through subsidiary APLD ComputeCo 3 LLC, to fund construction of the third HPC building (150 MW) at Polaris Forge 1 and to repay the $300 million bridge facility.

Interest expense increased $69.4 million, or 866%, from $8.0 million for the three months ended August 31, 2025, to $77.4 million for the three months ended August 31, 2026 due to an increase in debt arrangements between the periods.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Applied Digital Reports Fiscal First Quarter 2027 Results

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Balance Sheet As of August 31, 2026, the Company had $3.7 billion in cash, cash equivalents, and restricted cash, along with $6.4 billion in debt.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Cash, Cash Equivalents, and Restricted Cash The Company s restricted cash balances consist of debt service reserves and letters of credit secured by cash.

SEC original ↗Applied Digital Corp. — 10-Q Quarterly report10-QOct 7, 2026

The debt service reserves are held in separate accounts and are to be used to fund interest and principal on senior secured notes during construction.

SEC original ↗Applied Digital Corp. — 10-Q Quarterly report10-QOct 7, 2026

See further discussion in Note 9 - Debt.

SEC original ↗Applied Digital Corp. — 10-Q Quarterly report10-QOct 7, 2026

Strategy & priorities

Secured up to approximately 1 GW of potential power capacity in Finland, establishing a strategic foothold in an emerging European AI market.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

We are building for the long term, with a clear focus on developing large-scale, sustainable AI factory campuses and securing durable, high-quality, long-term contracts with proven, tier-one, investment grade hyperscalers that are leaders in the AI industry.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

While Applied Digital's near-term development strategy and execution priorities remain firmly centered on its growing U.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

North Dakota remains central to the Company s strategy.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

The Company considers its Data Center Hosting Business and the HPC Hosting Business to represent its core operations for long-term strategic and performance evaluation purposes.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Risks & headwinds

Adjusted operating income (loss) is Operating loss excluding operating (loss) income from ChronoScale, stock-based compensation, non-recurring repair expenses, diligence, acquisition, disposition and integration expenses, litigation expenses, non-cash amortization of customer lease incentives, loss on abandonment of assets, restructuring expenses and other non-recurring expenses that management believes are not representative of our expected ongoing costs.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Adjusted EBITDA is defined as EBITDA adjusted for stock-based compensation, non-cash amortization of customer lease incentives, non-recurring repair expenses, diligence, acquisition, disposition and integration expenses, litigation expenses, loss on abandonment of assets, loss on change in fair value of derivatives, loss on change in fair value of investments, restructuring expenses, and other non-recurring expenses that management believes are not representative of our expected ongoing costs.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

(4) Represents non-recurring litigation expense associated with our defense of class action lawsuits and legal fees related to matters with certain former employees.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

These statements are based on current expectations of future events and thus are inherently subject to uncertainty.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company s expectations and projections.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

A further list and description of these risks, uncertainties and other factors can be found in the Company s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, including in the sections captioned Forward-Looking Statements and Risk Factors, and in the Company s subsequent filings with the Securities and Exchange Commission.

SEC original ↗Applied Digital Corp. — Earnings release (8-K exhibit)EX-99Oct 7, 2026

Documents

Earnings deck slides

0 decks with slide view

Applied Digital Corp. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors