Applied Digital Corporation reported strong financial results for Q1 2025, with revenues increasing 67%.

From Globe Newswire: 2024-10-09 16:05:00

Applied Digital Corporation (Nasdaq: APLD) reported strong financial results for Q1 of fiscal year 2025. Revenues reached $60.7 million, marking a 67% growth from the prior year. Net loss was $4.2 million, with an adjusted net loss of $21.6 million. The company secured a $160 million private placement financing and added two new clusters to its Cloud Services Business.

The company is finalizing a lease agreement for its 100 MW facility in North Dakota and is in the design phase for two additional buildings to increase total capacity to 400 MW. Applied Digital’s Cloud Services Business revenue was $25.9 million with two new clusters added. Their HPC Data Center Hosting Business operates data centers providing space to crypto mining customers.

Total revenues for Q1 2025 were $60.7 million, a 67% increase from the previous year. Cost of revenues was $61.1 million driven by business growth. Net loss was $4.3 million, adjusted net loss was $21.6 million, and adjusted EBITDA was $20.0 million. The company ended the quarter with $86.6 million in cash and $143.6 million in debt.

Applied Digital will host a conference call today at 5:00 p.m. Eastern Time to discuss these results. U.S. dial-in number: 1-877-407-0792. International number: 1-201-689-8263. Conference ID: 13749090. Stay tuned for more updates on their growth initiatives and strategic investments.



Read more at Globe Newswire:: Applied Digital Reports Fiscal First Quarter 2025 Results