Applied Digital posts fiscal first-quarter revenue growth and expands AI data-center capacity
Applied Digital reported fiscal first-quarter 2027 revenue of $341.9 million, up 322% from the comparable prior-year period, and a net loss attributable to common stockholders of $221.0 million. Adjusted revenue was $300.4 million and adjusted EBITDA was $64.4 million for the quarter ended August 31, 2026. The company also reported new power arrangements in Finland and North Dakota, while Polaris Forge 1 reached 250 MW of live capacity after quarter-end.
Why it matters
The results show rapid revenue growth as Applied Digital brings AI-focused hosting capacity online, but the company remains loss-making on a GAAP basis. Management expects Polaris Forge 2 to lift delivered critical IT load across its North Dakota campuses to 300 MW by the end of calendar 2026.
Key facts
- 1Applied Digital reported fiscal first-quarter 2027 revenue of $341.9 million, up 322% from the prior-year comparable period. globenewswire.com
- 2Net loss attributable to common stockholders was $221.0 million, or $0.76 per basic and diluted share. globenewswire.com
- 3Adjusted revenue was $300.4 million and adjusted EBITDA was $64.4 million. globenewswire.com
- 4The company completed a $1.59 billion issuance of 7.000% Senior Secured Notes due 2031. globenewswire.com
- 5Applied Digital said its second 75 MW phase at Polaris Forge 1 entered service, taking live campus capacity to 250 MW. globenewswire.com
- 6The company secured up to approximately 1 GW of potential power capacity in Finland. globenewswire.com
Open questions
- Material 12 reports a GAAP net loss of $184.1M and material 16 reports a net loss of $237.08M, conflicting with the company's reported net loss attributable to common stockholders of $221.0 million.
Summary written by AlphAI from 20 of 38 sources. Not investment advice. Figures are as stated by the linked sources.