---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-23-000100"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T04:56:03.858233+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Revenue of $14.1M for fiscal Q3 2023; adjusted EBITDA of $0.9M.
- Net loss of $7.0M ($0.08 per share); adjusted loss per share of $0.01 based on 94.1M shares.
- Energized 180MW Ellendale, ND facility in early March; expects full capacity by end of June.
- Garden City, TX 200MW facility ready to energize pending final metering approval from utility.
- First HPC revenue recognized; new 5MW Jamestown HPC building expected online in 4-5 weeks.

## SEC filing metadata
- accession: 0001144879-23-000100
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2023-04-06T23:59:59+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/1144879/000114487923000100/0001144879-23-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000100/apld-20230406.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-23-000100
- JSON: https://secwatch.observer/filing/0001144879-23-000100.json
- Plain text: https://secwatch.observer/filing/0001144879-23-000100.txt

## Key facts
- Earnings Releases
  Applied Digital Corp. reported the fiscal third quarter of 2023 ended February 28, 2023 results: revenue $14.1 million, net income $7.0 million, EPS $0.08 per basic and diluted share.
  - Period: the fiscal third quarter of 2023 ended February 28, 2023
  - Revenue: $14.1 million
  - Net income: $7.0 million
  - EPS: $0.08 per basic and diluted share
  - Result: reported results
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000100/0001144879-23-000100-index.htm

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