Applied Digital Reports Fiscal Third Quarter 2026 Results Applied Digital Corporation (APLD) announced its financial results for the fiscal third quarter ended February 28, 2026, alongside operational updates. The company, which specializes in high-performance data centers and colocation services for AI, cloud, networking, and blockchain workloads, reported revenues of $126.6 million, a 139% increase compared to the prior year. However, the net loss attributable to common stockholders rose to $100.9 million, a 179% increase from the same period last year. Adjusted metrics showed improvement, with adjusted revenue at $108.6 million, adjusted net income of $33.2 million, and adjusted EBITDA of $44.1 million. The company highlighted several key projects and strategic initiatives. Delta Forge 1, a 430 MW AI Factory campus spanning over 500 acres in a southern U.S. market, broke ground during the quarter. This project is designed to deliver up to 300 MW of critical IT load for AI workloads, with initial operations expected by mid-2027. Additionally, Applied Digital secured a $100 million DevCo Facility with Macquarie Equipment Capital to fund development costs for new data center projects. Jason Zhang, the company’s co-founder, was appointed President to strengthen leadership as the company scales its AI Factory platform. Following the quarter, Applied Digital completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031, which will fund the development of the Polaris Forge 2 AI Factory campus in North Dakota. The company also entered agreements with CoreWeave to enhance the credit quality of tenants at the Polaris Forge 1 campus. These agreements included restructuring leases through a CoreWeave SPV subsidiary, receiving unconditional springing guarantees from CoreWeave Inc.#coreweave #applied_digital_corporation #delta_forge_1 #polaris_forge_1 #wes_cummins
