Applied Digital reports Q2 revenue $42.2M, adjusted EBITDA $10.6M; cuts FY guidance on component delays

Applied Digital Corp.

2024-Q2 EPS reported -$0.21 revenue$78,527,000

Revenue $42.2M, up 242% YoY; net loss $10.5M ($0.10 per share).
Adjusted EBITDA $10.6M vs. loss of $2.2M a year ago.
Guidance cut: FY2024 revenue and EBITDA below prior range due to delayed networking components.
Now expects exit annual revenue run rate ~$500M and adjusted EBITDA run rate ~$250M.
Signed conditional agreement for datacenter capacity at Ellendale, ND; completed ATM offering with $23.1M net proceeds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Applied Digital Corp. reported fiscal second quarter ended November 30, 2023 results: net income Net loss of $10.5 million.

Period: fiscal second quarter ended November 30, 2023
Net income: Net loss of $10.5 million
Result: reported results

Exact text from the filing

Fiscal Second Quarter 2024 Financial and Operational Highlights • Total revenue of $42.2 million • Net loss of $10.5 million • Adjusted EBITDA of $10.6 million • Adjusted net loss of $5.2 million, or adjusted loss per share of $0.05 • Energized 200 megawatt ("MW") hosting facility in Garden City, Texas • Began construction of 100 megawatt ("MW") high-performance computing facility (“HPC”) in Ellendale, North Dakota Adjusted EBITDA, adjusted net income, and adjusted earnings per share are non-GAAP measures.

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Source: SEC EDGAR

accession 0001144879-24-000004

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