Applied Digital Q3 FY2023 revenue $14.1M, adjusted EBITDA $0.9M, net loss $7.0M

Revenues in the fiscal third quarter 2023 were $14.1 million. Hosting revenues were generated entirely from the Company’s first hosting facility in Jamestown, North Dakota. The Jamestown facility operated at full capacity during the quarter. Cost of revenues in the fiscal third quarter 2023 was $10.5 million, consisting of approximately $8.6 million of energy costs, $0.9 million of depreciation and amortization expense, and $1.0 million of personnel expenses for employees directly working at the Jamestown hosting facility. Adjusted Gross Profit, a non-GAAP measure, for the fiscal third quarter of 2023 was $4.4 million, or 31% of revenue. Operating expenses for the fiscal third quarter of 2023 were $10.5 million, which included $4.5 million in stock-based compensation, $3.9 million in other selling, general and administrative costs and $1.1 million of depreciation and amortization expenses not attributable to cost of sales. Net loss attributable to Applied Digital for the fiscal third q