Applied Digital Corp. (NASDAQ:APLD) shares have been on a wild ride since the AI data center operator posted fiscal fourth-quarter results Monday that blew past Wall Street’s expectations.
- Applied Digital shares are declining. Why is APLD stock trading lower?
Q4 Highlights
Applied Digital reported adjusted earnings per share of 4 cents, beating the consensus estimate of a loss of 22 cents. In addition, it reported revenue of $258.74 million, beating the consensus of $94.83 million.
Total revenue grew 407% year-over-year, with services revenue reaching $208.2 million, up 308%, and data center revenue totaling $50.6 million. The company ended the quarter with approximately $4.2 billion in cash, cash equivalents, and restricted cash, and $5 billion in total debt.
As of May 31, Applied Digital has executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses. Total live capacity at Polaris Forge 1 stands at up to 175 MW, with additional buildings at Polaris Forge 1, along with Polaris Forge 2, Polaris Forge 3, Delta Forge 1, and Delta Forge 2, in various stages of construction.
“Nearly three years ago, we made a deliberate decision to build a company that scales, not just a company that builds data centers,” said Wes Cummins, Chairman and CEO of Applied Digital. “Combined with our proven supply chain and design approvals from every major hyperscaler, we believe this repeatable, differentiated platform is why we have emerged as one of the clear leaders in AI infrastructure.”
Applied Digital Shares Slip
APLD Price Action: At the time of publication, Applied Digital Shares are trading 1.95% higher at $26.89, according to data from Benzinga Pro.
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