The earnings call highlighted significant progress in securing major lease agreements and increasing revenue, which are positive indicators of growth. However, increased expenses and net losses present challenges. Despite the complexity in lease negotiations, the company's strategic efforts in expansion and financing position them favorably for future growth.

Company Guidance -

Q1 2026

During the fiscal fourth quarter 2025 conference call, Applied Digital provided several key metrics and updates. The company reported a 41% year-over-year revenue increase to $38 million, primarily driven by enhanced capacity in its Data Center Hosting Business. The cost of revenues rose to $30.2 million, and SG&A expenses increased to $28.1 million due to business growth, stock-based compensation, and personnel expenses. Applied Digital's net loss attributable to common stockholders was $26.6 million, or $0.12 per share, while the adjusted net loss was $7.6 million, or $0.03 per share. Adjusted EBITDA was reported at $1 million. The company ended the quarter with $120.9 million in cash and $688.2 million in debt, excluding an additional $268.9 million from stock offerings post-quarter. Looking ahead, Applied Digital anticipates significant revenue increases due to developments at its Polaris Forge 1 campus, with the first 100-megawatt facility set to be operational in Q4 2025. The company aims to generate $1 billion in annual net operating income within 3 to 5 years, capitalizing on its strong relationships with hyperscalers and its competitive advantages in the AI and HPC infrastructure market.

Transformative Lease Agreements

Applied Digital signed 15-year lease agreements with CoreWeave to deliver 250 megawatts of critical IT load, expected to generate approximately $7 billion in contracted revenue.

Increased Revenue

Revenues for the fiscal fourth quarter of 2025 were $38 million, up 41% year-over-year due to an increase in capacity online in their Data Center Hosting Business.

Expansion Plans

CoreWeave exercised their option for an additional 150 megawatts in a third building at Polaris Forge 1, highlighting the project's scalability.

Successful Financing

Since the end of the quarter, Applied Digital raised approximately $270 million between their ATM and Series G preferred stock, bolstering their financial position for future projects.

Applied Digital Corporation (APLD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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APLD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 14, 2025	2026 (Q1)	-0.14 / -	-0.03	―	―	―
Jul 30, 2025	2025 (Q4)	-0.15 / -0.03	-0.52	94.23% (+0.49)	―
Apr 14, 2025	2025 (Q3)	-0.10 / -0.08	-0.52	84.62% (+0.44)	―
Jan 14, 2025	2025 (Q2)	-0.14 / -0.06	-0.1	40.00% (+0.04)	―
Oct 09, 2024	2025 (Q1)	-0.27 / -0.03	-0.1	70.00% (+0.07)	―
Aug 28, 2024	2024 (Q4)	-0.22 / -0.52	-0.07	-642.86% (-0.45)	―
Apr 11, 2024	2024 (Q3)	-0.07 / -0.52	-0.08	-550.00% (-0.44)	―
Jan 16, 2024	2024 (Q2)	0.07 / -0.10	-0.29	65.52% (+0.19)	―
Oct 09, 2023	2024 (Q1)	-0.04 / -0.10	-0.05	-100.00% (-0.05)	―
Jul 24, 2023	2023 (Q4)	-0.05 / -0.07	-0.06	-16.67% (-0.01)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

APLD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$10.03	$13.14	+31.01%
Apr 14, 2025	$5.37	$3.44	-35.94%
Jan 14, 2025	$8.54	$8.37	-1.99%
Oct 09, 2024	$7.40	$6.89	-6.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.