Applied Digital Reports Fiscal Third Quarter 2026 Results

Applied Digital Corporation reported its financial results for the third fiscal quarter ended February 28, 2026. The company experienced a significant 139% increase in revenue, reaching $126.6 million, compared to the prior year period. However, the net loss attributable to common stockholders also increased by 179% to $100.9 million, or $0.36 per share. The company highlighted operational achievements, including breaking ground on a new 430 MW AI Factory campus, securing a $100 million development facility, and appointing a new President. Subsequent to the quarter, Applied Digital completed a $2.15 billion private offering of Senior Secured Notes and entered into agreements to enhance credit quality on existing leases. Management expressed confidence in the company's differentiation in the high-power AI data center market and its long-term growth potential, aiming for $1 billion in NOI within five years. The company also provided updates on its HPC Hosting and Data Center Hosting businesses, noting strong performance and progress on construction projects. The planned business combination of its Cloud business with EKSO Bionics to form ChronoScale Corporation is expected to close in the fourth fiscal quarter of 2026.