Earnings summaries and quarterly performance for Applied Digital.
Executive leadership at Applied Digital.
Board of directors at Applied Digital.
Research analysts who have asked questions during Applied Digital earnings calls.
DA
Darren Aftahi
Roth Capital Partners
7 questions for APLD
Also covers: ALRM, ANTA, BQ +17 more
MG
Mike Grondahl
Lake Street Capital Markets
7 questions for APLD
Also covers: ABL, ACCS, ASPS +34 more
Nick Giles
B. Riley Securities
6 questions for APLD
Also covers: AA, AMR, AZZ +25 more
George Sutton
Craig-Hallum
5 questions for APLD
Also covers: ACIW, AEYE, AGYS +26 more
MD
Michael Donovan
H.C. Wainwright & Co.
4 questions for APLD
Also covers: BITF, BTCY, CAN +4 more
Rob Brown
Lake Street Capital Markets
4 questions for APLD
Also covers: AGX, BLDP, BW +13 more
JT
John Todaro
Needham & Company
3 questions for APLD
Also covers: BTDR, CAN, CIFR +12 more
Austin Ortiz
Needham
2 questions for APLD
Logan W Lillehaug
Craig-Hallum Capital Group LLC
2 questions for APLD
Also covers: AGYS, GDOT, GSAT +4 more
BK
Brett Knoblauch
Cantor Fitzgerald & Co.
1 question for APLD
Also covers: AVPT, BITF, BLSH +19 more
JG
Jon Gruber
Lagunitas Investments
1 question for APLD
Also covers: VICR
LP
Lucas Pipes
B. Riley Securities
1 question for APLD
Also covers: AA, AMR, AMRK +21 more
TS
Thomas Shinske
Cantor Fitzgerald
1 question for APLD
Also covers: BITF, CSGS, GENI +2 more
Recent press releases and 8-K filings for APLD.
Applied Digital Reports Q2 2026 Results, Announces Cloud Business Spin-Out, and Secures Major Leases
APLD
Earnings
New Projects/Investments
M&A
- Applied Digital reported Q2 2026 revenues of $126.6 million, a 250% increase from the prior year, driven by $73 million from turnkey fit-out services and $12 million from the first CoreWeave lease at Polaris Forge 1, resulting in a net loss of $31.2 million or $0.11 per share and Adjusted EBITDA of $20.2 million.
- The company secured significant lease agreements, including $11 billion in prospective lease revenue over approximately 15 years for 400 MW with CoreWeave at Polaris Forge 1, and a $5 billion 15-year lease for 200 MW at Polaris Forge 2 with a U.S.-based investment-grade hyperscaler, totaling $16 billion in prospective lease revenue across its North Dakota campuses.
- Applied Digital announced the spin-out of its cloud business, which generates over $60 million in trailing 12-month revenue and has $313 million in assets, to combine with Exo and form Chronoscale, with Applied Digital expected to own over 80%.
- The company is in advanced discussions for three additional sites totaling 900 MW and expects to surpass its long-term goal of $1 billion in NOI within five years, with a clear path to 5 GW+ capacity over the next 5 years across its campuses.
- Applied Digital completed a $2.35 billion private offering of 9.25% senior secured notes due 2030 and has drawn $900 million from Macquarie Asset Management's $5 billion preferred equity facility to support its Polaris Forge 1 and 2 campuses.
7 days ago
Applied Digital Reports Strong Q2 2026 Revenue Growth and Strategic Milestones
APLD
Earnings
New Projects/Investments
M&A
- Applied Digital reported Q2 2026 revenue of $126.6 million, a 250% increase from the prior year, primarily driven by $73 million from turnkey fit-out services and $12 million from the first CoreWeave lease. The company recorded a net loss of $31.2 million or $0.11 per share, with Adjusted EBITDA totaling $20.2 million.
- The Polaris Forge One campus, hosting 100 megawatts for CoreWeave, reached ready for service, representing approximately $11 billion in prospective lease revenue over 15 years. A $5 billion 15-year lease for 200 megawatts at Polaris Forge Two was also announced with an investment-grade hyperscaler.
- The company is in advanced discussions for three additional sites totaling 900 megawatts and anticipates surpassing its long-term goal of $1 billion in Net Operating Income (NOI) within five years.
- Applied Digital announced a non-binding letter of intent to combine its Cloud business with Exo to form Chronoscale, a dedicated GPU-accelerated compute platform, with Applied Digital expected to own over 80%. This cloud business currently generates over $60 million in trailing 12-month revenue.
7 days ago
Applied Digital Reports Strong Q2 2026 Revenue Growth, Secures Major Leases, and Announces Cloud Business Spin-Out
APLD
Earnings
New Projects/Investments
M&A
- Applied Digital reported Q2 2026 revenues of $126.6 million, a 250% increase year-over-year, primarily driven by $73 million from turnkey fit-out services and $12 million from the first CoreWeave lease. The company recorded a net loss of $31.2 million or $0.11 per share, but achieved Adjusted EBITDA of $20.2 million.
- The company secured significant lease agreements for 600 megawatts across its North Dakota campuses, including 400 megawatts for CoreWeave and 200 megawatts for another hyperscaler, representing approximately $16 billion in prospective lease revenue over 15 years.
- Applied Digital is in advanced discussions for an additional three sites and 900 megawatts with another investment-grade hyperscaler, with a long-term goal to grow capacity to 5 gigawatts across five campuses over the next five years.
- The company announced the spin-out of its Applied Digital Cloud business, merging it with Exo to form Chronoscale, with Applied Digital expected to own over 80%. This cloud business currently generates over $60 million in trailing 12-month revenue.
- Financially, Applied Digital ended Q2 2026 with $2.3 billion in cash and equivalents and $2.6 billion in debt. Key financings include drawing $900 million from a $5 billion preferred equity facility and completing a $2.35 billion private offering of senior secured notes.
7 days ago
Applied Digital Reports Fiscal Second Quarter 2026 Results
APLD
Earnings
New Projects/Investments
M&A
- Applied Digital reported Q2 2026 revenues of $126.6 million, a 250% increase from the prior year, and an Adjusted EBITDA of $20.2 million.
- The company achieved Ready-for-Service at Polaris Forge 1, delivering 100 MW, and announced a 15-year lease for 200 MW of AI and HPC capacity at Polaris Forge 2, with an expected $5 billion in revenue.
- A $2.35 billion private offering of 9.25% senior secured notes due 2030 was completed.
- Applied Digital plans to spin out Applied Digital Cloud and combine it with EKSO Bionics Holdings to form ChronoScale, expecting to initially own over 80% of the combined company.
- As of November 30, 2025, the company's balance sheet showed $2.3 billion in cash, cash equivalents, and restricted cash, and $2.6 billion in debt.
7 days ago
Applied Digital Reports Fiscal Second Quarter 2026 Results
APLD
Earnings
New Projects/Investments
Debt Issuance
- Applied Digital Corporation reported fiscal second quarter 2026 revenues of $126.6 million, representing a 250% increase from the prior year comparable period, with a net loss attributable to common stockholders of $31.2 million or $0.11 per basic and diluted share, which is an 82% decrease in loss per share from the prior year comparable period.
- The company achieved Ready-for-Service at Polaris Forge 1, delivering 100 MW and fully energizing the first building, and announced an approximately 15-year lease with a U.S. based investment-grade hyperscaler for 200 MW of AI and HPC capacity at the under-construction Polaris Forge 2 campus, expected to deliver approximately $5 billion in revenue.
- Applied Digital completed a $2.35 billion private offering of 9.25% senior secured notes due 2030 and drew an additional $562.5 million from Macquarie Asset Management under its preferred equity financing facility, contributing to a strong liquidity position with $2.3 billion in cash, cash equivalents, and restricted cash as of November 30, 2025.
7 days ago
Applied Digital to Spin Out Cloud Business and Combine with EKSO to Form ChronoScale
APLD
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Applied Digital (APLD) has entered into a non-binding term sheet for a proposed business combination of its cloud computing business, Applied Digital Cloud, with EKSO Bionics Holdings, Inc. (EKSO).
- The combined company will operate as ChronoScale Corporation, an accelerated compute platform purpose-built for AI workloads.
- Upon closing of the Proposed Transaction, Applied Digital would own approximately 97% of the combined company.
- Applied Digital Cloud generated a twelve-month revenue of approximately $75.2 million as of August 31, 2025.
- The Proposed Transaction is expected to close in the first half of 2026.
Dec 29, 2025, 10:00 PM
Applied Digital to Combine Cloud Business with EKSO Bionics to Form ChronoScale
APLD
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Applied Digital (APLD) announced a non-binding term sheet for a proposed business combination of its cloud computing business, Applied Digital Cloud, with EKSO Bionics Holdings, Inc. (EKSO), which will operate as ChronoScale Corporation, an accelerated compute platform for AI workloads.
- Upon closing of the Proposed Transaction, Applied Digital is expected to own approximately 97% of the combined company, ChronoScale.
- The transaction is intended to allow each business to scale independently, pursue distinct growth trajectories, and operate with greater strategic and capital flexibility.
- Applied Digital Cloud generated approximately $75.2 million in revenue for the twelve months ending August 31, 2025.
- The Proposed Transaction is expected to close in the first half of 2026, subject to customary due diligence, execution of final binding documents, and regulatory and shareholder approvals.
Dec 29, 2025, 9:45 PM
Applied Digital secures development loan facility with Macquarie Group
APLD
Debt Issuance
New Projects/Investments
- Applied Digital Corporation (APLD) entered into a loan facility with Macquarie Group on December 18, 2025, to fund pre-lease development costs for new data center projects.
- The initial draws from this facility amount to $100 million, intended to support development activities for multiple campuses, as the company is in advanced negotiations with an investment-grade hyperscaler.
- This financing is designed to support Applied Digital's strategy of developing purpose-built campuses for hyperscale customers, aligning capital deployment with customer demand for AI-optimized data center infrastructure.
Dec 22, 2025, 9:30 PM
Applied Digital Secures Development Loan Facility with Macquarie Group
APLD
New Projects/Investments
Debt Issuance
- Applied Digital Corporation (APLD) entered into a loan facility with Macquarie Group's Commodities and Global Market's business on December 18, 2025.
- The facility is intended to fund pre-lease development costs for new data center projects designed for high-performance computing (HPC) and artificial intelligence (AI) workloads.
- The initial $100 million in draws from this facility will support development activities for multiple campuses, as Applied Digital is in advanced negotiations with an investment-grade hyperscaler.
- This financing aims to support Applied Digital's strategy of developing purpose-built campuses for hyperscale customers and enhance its ability to advance projects efficiently.
Dec 18, 2025, 1:15 PM
Applied Digital Corporation's Subsidiary Establishes Indenture for 9.250% Senior Secured Notes Due 2030
APLD
Debt Issuance
New Projects/Investments
- On November 20, 2025, APLD ComputeCo LLC, an indirect subsidiary of Applied Digital Corporation, entered into an Indenture for 9.250% Senior Secured Notes Due 2030.
- The Indenture was established with APLD HPC Holdings 2 LLC, Subsidiary Guarantors, and Wilmington Trust, National Association serving as both trustee and collateral agent.
- This Indenture outlines the terms and conditions for the notes, covering aspects such as redemption, prepayment, and various covenants.
Nov 20, 2025, 10:00 PM
Quarterly earnings call transcripts for Applied Digital.
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