Applied Digital Q1 revenue more than quadruples as tenant fit-out services increase
APLD•Applied Digital’s fiscal first-quarter revenue rose 322% year over year to $341.9 million, driven mainly by increased tenant fit-out services. Its adjusted net loss narrowed to $4.1 million, or $0.01 per share.
1. Revenue growth
Applied Digital reported fiscal first-quarter revenue of $341.9 million, up 322% year over year. The company said increased tenant fit-out services in its HPC Hosting Business mainly drove the growth.
2. Hosting results
HPC Hosting rental operations began during the quarter, contributing $79.1 million in data center rental and other revenue. Revenue from the Data Center Hosting Business was materially consistent year over year, the company said. Adjusted net loss narrowed to $4.1 million, while net loss attributable to common stockholders was $237.08 million.
3. Capacity outlook
Applied Digital expects delivered critical IT load across its North Dakota campuses to reach 300 megawatts by the end of 2026. Subsequent to the quarter, it expanded operational capacity and secured new power agreements.
