---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-23-000022"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2023-01-09T23:59:59+00:00"
generated_at: "2026-06-20T17:30:49.745453+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Applied Digital Q2 revenue $12.3M, adjusted EBITDA -$2.1M; two new facilities expected by Feb 2023

## Summary
- Revenue $12.3M; cost of revenue $11.8M (energy $10.3M); adjusted gross profit $1.5M (12% margin).
- Net loss $26.6M ($0.29/sh); adjusted net loss $3.8M ($0.04/sh). Stock-based comp $21.8M.
- Adjusted EBITDA loss $2.1M. Cash $18.1M, debt $20.5M.
- Jamestown 100MW at full capacity; Garden City (200MW) and Ellendale (180MW) on track for energization by end of Feb.
- Signed first two non-crypto HPC customers; launched $100M JV with GMR for distressed crypto assets.

## SEC filing metadata
- accession: 0001144879-23-000022
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2023-01-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000022/0001144879-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000022/apld-20230109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-23-000022
- JSON: https://secwatch.observer/filing/0001144879-23-000022.json
- Plain text: https://secwatch.observer/filing/0001144879-23-000022.txt

## Key facts
- Earnings Releases
  Applied Digital Corp. reported fiscal second quarter of 2023 ended November 30, 2022 results: revenue $12.3 million.
  - Period: fiscal second quarter of 2023 ended November 30, 2022
  - Revenue: $12.3 million
  - Result: reported results
  source text: of 2023 ended November 30, 2022. The Company also provided an operational update and outlook. Recent Operational and Financial Highlights • Fiscal second quarter 2023 revenue of $12.3 million • Fiscal second quarter 2023 adjusted EBITDA of $(2.1) million • 100-Megawatt (“MW”) facility in Jamestown, North Dakota operated at full capacity during the quarter • Changed
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000022/0001144879-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.