secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2023-01-09T23:59:59+00:00
Accession:  0001144879-23-000022
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000022/0001144879-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000022/apld-20230109.htm
  HTML page:      https://secwatch.observer/filing/0001144879-23-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer