Applied Digital Reports Fiscal First Quarter 2027 Results

Key Points:

• Applied Digital Corporation reported fiscal Q1 2027 revenues of $341.9 million, a 322% increase year-over-year, with an adjusted revenue of $300.4 million excluding its majority-owned subsidiary ChronoScale.
• The company posted a GAAP net loss attributable to common stockholders of $221.0 million ($0.76 per share), but an adjusted net loss of $4.1 million ($0.01 per diluted share), reflecting operational growth and excluding one-time and non-recurring expenses.
• Applied Digital expanded its AI factory capacity, delivering 250 MW at Polaris Forge 1 and securing a 210 MW, 15-year lease at Delta Forge 2 worth approximately $5.2 billion in contracted revenue; it also entered the European market with potential 1 GW power capacity in Finland.
• The company closed $1.59 billion in senior secured notes to fund construction of additional HPC buildings and repaid a $300 million bridge facility, ending the quarter with $3.7 billion in cash and $6.4 billion in debt.
• Management emphasized long-term growth focused on large-scale, sustainable AI factory campuses in power-rich regions like North Dakota, highlighting community partnerships and the strategic advantage of scalable, low-cost power infrastructure.