Applied Digital revenue quadruples on AI data center demand

Applied Digital Corp (NASDAQ:APLD) reported fourth-quarter gross of $258.7 million, up 407% from a twelvemonth earlier, arsenic the institution accelerates its displacement into a pure-play AI infrastructure developer.

The institution posted adjusted net of $0.04 per stock for the quarter, compared with expert estimates of a nonaccomplishment of $0.22 per share.

Applied Digital said it is gathering 5 multibillion-dollar AI Factory campuses for 2 hyperscalers and CoreWeave.

The institution has secured astir $20 cardinal successful recently contracted hyperscaler leases, including an $11 cardinal contracted gross lease with CoreWeave for Polaris Forge 1 and a $5 cardinal hyperscaler lease for Polaris Forge 2.

Adjusted EBITDA came successful astatine $42.4 million. The bulk of quarterly revenue, $152.4 million, came from one-time tenant fit-out services alternatively than recurring lease income.

GAAP nett nonaccomplishment astir doubled year-over-year to $110.6 million, driven successful portion by a $127.8 cardinal stock-based compensation charge.

"We are inactive successful the aboriginal innings of what we judge volition apt beryllium the largest buildout of captious infrastructure successful modern economical history," CEO Wes Cummins said. "We spot request for high-power-density, purpose-built AI information centers remaining highly robust."

Shares were up 3.4% successful premarket trading.