Applied Digital (APLD) Fiscal Q1 2027 Earnings Call: Revenue Up 322%, AI Capacity Buildout
Source Tradingkey
Key Takeaways
- Applied Digital reported fiscal Q1 2027 revenue of $341.9 million, up 322% from $80.9 million a year earlier, led by $262.6 million from HPC hosting.
- Adjusted EBITDA rose to $64.4 million from $0.5 million in the prior-year quarter. Adjusted net loss was $4.1 million, or $0.01 per diluted share.
- GAAP net loss attributable to common stockholders was $221.0 million, or $0.76 per share, including significant stock-based compensation and a noncash mark-to-market loss.
- The company has approximately $36 billion of contracted revenue across five campuses in three states. Management expects to place more than 600 MW into service over the next 12 months, compared with 250 MW during the previous 12 months.
- Applied Digital expects to execute approximately 250 MW of expansion leases by calendar year-end at materially higher pricing. Management indicated potential lease-rate increases of more than 15%, potentially combined with longer terms.
- Management said the operating portfolio could reach 3.5 GW to 4 GW by the end of calendar 2030 if demand remains strong and the company continues delivering projects as planned.
Key Financial Results
| Metric | Fiscal Q1 2027 | Comparison / Details |
|---|---|---|
| Total revenue | $341.9 million | Up 322% from $80.9 million year over year |
| HPC hosting revenue | $262.6 million | $65.8 million base rent, $183.5 million tenant fit-out services and $13.3 million tenant recoveries |
| Data center hosting revenue | $37.8 million | Approximately in line with the prior-year quarter |
| ChronoScale revenue | $41.5 million | Included approximately $23 million of GPU hardware sales |
| HPC hosting NOI | $58.8 million | 89% margin |
| Adjusted EBITDA | $64.4 million | Up from $0.5 million a year earlier |
| Adjusted net loss | $4.1 million | $0.01 per diluted share |
| GAAP net loss attributable to common stockholders | $221.0 million | $0.76 per share |
| SG&A | $114.7 million | Included $65.4 million of stock-based compensation |
| Cash and cash equivalents | Approximately $2.9 billion | Plus $0.7 billion of restricted cash |
| Debt | Approximately $6.4 billion | More than 80% matures in fiscal 2031 or later |
| Stockholders’ equity | Approximately $1.6 billion | At quarter-end |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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