Applied Digital Earnings Call Transcripts
Fiscal Year 2026
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Contracted lease value surged to $36B with five campuses and robust AI infrastructure demand. Q4 revenue grew 407% year-over-year, with strong margins and conservative leverage. Expansion and higher pricing are expected as new capacity comes online.
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Revenue surged 139% year-over-year to $126.6 million, with adjusted EBITDA of $44.1 million and strong growth in HPC and data center segments. Construction and financing milestones were achieved, and demand for AI data centers remains robust, with significant expansion and refinancing plans underway.
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Achieved record revenue growth of 250% year-over-year, driven by major hyperscale leases and strong hosting segment performance. Advanced expansion plans position the company for significant capacity growth and robust financial flexibility.
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Revenue surged 84% year-over-year to $64.2 million, driven by tenant fit-out services and expanded hyperscaler contracts. Major financing from Macquarie supports rapid campus expansion, with a 4 GW pipeline and $1 billion NOI run rate targeted within five years.
Fiscal Year 2025
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Secured $7B in long-term leases with CoreWeave, driving a 41% YoY revenue increase to $38M in Q4. Project financing is on track, with significant sequential revenue growth expected from Polaris Forge 1 fit-out, and a robust pipeline supported by strong hyperscaler demand.
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Revenue grew 22% year-over-year to $52.9 million, driven by cloud and data center hosting. Major financing deals and on-schedule construction support expansion, while a strategic review of the cloud business is underway. Demand and pricing for data center capacity remain strong.
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Revenue grew 51% year-over-year to $63.9 million, led by cloud and data center hosting. Announced a $5 billion Macquarie financing facility, enabling over 2 GW of future HPC capacity. Adjusted EBITDA rose 93% to $21.4 million, with strong demand and robust project pipeline.
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Revenue surged 67% year-over-year to $60.7M, driven by cloud services, while a major investment round post-quarter nearly doubled shareholders' equity. The Ellendale HPC campus lease is nearing completion, with strong demand from hyperscalers for 2025–2026 capacity and expansion plans underway.
Fiscal Year 2024
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Fiscal Q4 2024 saw revenue rise to $43.7M, driven by expanded hosting and cloud services, but net loss widened to $64.8M due to power outages and higher costs. Progress continued on the Ellendale HPC campus and cloud clusters, with strong demand and financing initiatives underway.