---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-24-000004"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T22:58:59.235626+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001144879-24-000004
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000004/0001144879-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000004/apld-20240116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-24-000004
- JSON: https://secwatch.observer/filing/0001144879-24-000004.json
- Plain text: https://secwatch.observer/filing/0001144879-24-000004.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000004/0001144879-24-000004-index.htm

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