Applied Digital Reports Fiscal First Quarter 2027 Results

Applied Digital Corporation announced its financial results for the fiscal first quarter ended August 31, 2026. The company reported revenues of $341.9 million, a significant increase of 322% from the prior year. However, they also reported a net loss attributable to common stockholders of $221.0 million, or $0.76 per share. Non-GAAP measures, which exclude the results of ChronoScale, showed an adjusted revenue of $300.4 million and an adjusted net loss of $4.1 million. Key highlights include a 15-year lease agreement valued at approximately $5.2 billion, the delivery of Phase 1 of Building 2 at Polaris Forge 1, and the closure of $1.59 billion in Senior Secured Notes. ChronoScale also announced plans for a 50 MW AI compute deployment with Microsoft. Subsequent to the quarter, the company delivered the second phase of Building 2 at Polaris Forge 1, secured power capacity in Finland, and entered into a Power Purchase Agreement in North Dakota. Management expressed a focus on establishing Applied Digital as a leader in AI factory development through long-term contracts with hyperscalers.