Applied Digital Q4 Results Overview
Applied Digital Corporation (NASDAQ:APLD) reported fourth‑quarter adjusted earnings per share of $0.04, surpassing the consensus estimate of a loss of $0.19 per share. Revenue for the quarter reached $258.7 million, far exceeding the analyst consensus of $95.32 million and representing a 407% year‑over‑year increase from $51.0 million in the comparable period of the prior year.
Adjusted revenue for the quarter was $240.4 million, while adjusted net income amounted to $12.9 million. The company’s high‑performance computing (HPC) Hosting business contributed $203.0 million in revenue, broken down into $152.4 million from tenant fit‑out services and $44.1 million from base rent. Following the earnings release, shares rose 3.4% in after‑hours trading on Monday.
CEO and Chairman Wes Cummins described the quarter as “defining,” noting that the firm signed three new 15‑year take‑or‑pay leases with a high‑investment‑grade hyperscaler at Delta Forge 1, Polaris Forge 3, and Delta Forge 2, each located in a different state. Delta Forge 1 and Polaris Forge 3 each provide approximately $7.5 billion in base‑term contracted revenue, while Delta Forge 2 adds roughly $5.2 billion. Collectively, the agreements secure about 1.4 gigawatts of critical IT load and represent roughly $36 billion in contracted lease revenue.
For the full fiscal year 2026, Applied Digital recorded total revenue of $611.3 million, a 167% increase year‑over‑year. Adjusted net income for the year was $36.1 million, or $0.11 per diluted share, reversing the adjusted net loss of $12.5 million reported in fiscal 2025. GAAP net loss attributable to common stockholders was $249.2 million, or $0.91 per share.
During the quarter, the company completed a private offering of senior secured notes totaling $2.15 billion and closed a revolving credit facility with a maximum commitment of $550 million. Additionally, Applied Digital finalized the separation of its cloud services business, creating ChronoScale Holdings Corporation, in which Applied Digital retains approximately 96% ownership.