Applied Digital reports mixed fiscal first-quarter results as revenue tops estimates
Applied Digital's fiscal first-quarter revenue reached $341.9 million, up 322% and well above the $137.6 million consensus. The company posted a GAAP loss of $0.76 per share, wider than the expected $0.31 loss, while adjusted EBITDA was $64.4 million. The stock moved only slightly higher after hours as investors weighed the revenue beat against the larger loss.
Applied Digital, based in Dallas, reported for the quarter ending Aug. 31, 2026. Revenue was $341.9 million, versus $137.6 million expected, and rose 322% from a year earlier. GAAP loss from continuing operations attributable to common stockholders was $221.0 million, or $0.76 per share, compared with an expected $0.31 loss.
The top line leaned on HPC hosting: $262.6 million, including $183.5 million of tenant fit-out work, $65.8 million base rent, and $13.3 million recoveries. Legacy crypto hosting contributed $37.8 million, roughly flat, with $13.3 million segment operating profit. Adjusted EBITDA was $64.4 million, versus $0.5 million a year earlier.
Applied Digital's expansion may affect communities near its data centers through construction jobs, tax revenue, and increased electricity demand. The Finland and North Dakota power plans could shape local energy infrastructure and costs, while investors and lenders may face risk if fit-out revenue proves uneven. The scale of AI/HPC leasing could influence how quickly digital infrastructure grows, with possible effects on grid reliability and land use.