APLD · NasdaqGS
Information Technology Services · United States
Snapshot 2026-11-03 · Latest financial period 2026-08-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-06 (provider estimate; issuer confirmation unavailable here).
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting, and HPC Hosting Business. The company provides energized infrastructure services to crypto mining customers; and cloud services to customers, such as AI and machine learning developers. It also engages in the designing, constructing, and operating of data centers to provide computing power and support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas.
Company websiteQ1 FY2027
Published 2026-10-08
Q1 FY2027 REPORT HIGHLIGHTS
Recurring rent is taking shape, but tenant fit-out, preferred claims and construction funding separate operating progress from value per common share.
HPC base rent reached $65.8 million and property NOI was $58.8 million. The 250 MW October milestone gives the next quarter a larger operating base.
Tenant fit-out contributed $183.5 million, versus $65.8 million of HPC base rent; tenant recoveries add revenue with matching cost.
Operating cash of $63.9 million compared with $2.075 billion of purchases of property, equipment and other assets. Financing remains central.
Debt was $6.377 billion, redeemable minority equity $2.011 billion, and parent preferred equity $181.3 million at quarter end. The preferred partnership return can compound.
Finland potential capacity and the related-party Base Electron power agreement expand possibilities. Neither substitutes for contracted rent, completed facilities or funding.
Comparable businesses
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No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | APLDApplied Digital CorporationSnapshot 2026-11-03Financial period: 2026-08-31 |
|---|---|
| Market capMarket value, converted to USD | US$4.90B |
| Forward P/EProvider forward earnings estimate | — |
| EV / EBITDAEnterprise value / trailing EBITDA | — |
| Revenue growthLatest quarter vs prior-year quarter | 322.4% |
| Operating marginLatest reported quarter | -18.2% |
| Free cash flow yieldTrailing cash flow / market cap | -87.3% |
| Net debt / EBITDANet debt / trailing EBITDA | — |
| Debt / equityTotal debt / positive book equity | 1.71x |
| Trailing P/ETrailing twelve-month earnings | — |
| Price / bookPrice / positive book equity per share | 3.01x |
| EV / salesEnterprise value / trailing revenue | 12.19x |
| Earnings growthLatest quarter vs prior-year quarter | — |
| Gross marginTrailing twelve months | 21.6% |
| Net marginTrailing twelve months | -53.0% |
| Return on equityProvider trailing return; positive equity only | -13.6% |
| Free cash flow marginTrailing free cash flow / revenue | -491.1% |
| Dividend yieldIndicated annual dividend / price | — |
| Earnings payoutProvider trailing dividend payout | — |
| Current ratioCurrent assets / current liabilities | 2.56x |
| BetaProvider historical market sensitivity | 5.54 |
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Reported performance
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Market context
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THE RESEARCH RECORD
FREE RESEARCH PACKET · Q1 FY2027
Recurring rent is taking shape, but tenant fit-out, preferred claims and construction funding separate operating progress from value per common share.
Research published October 7, 2026 · Download original report
Read Research PacketPresentation · 2026-10-08 · YouTube
Presentation · 2026-07-28 · YouTube
Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.
