secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0001144879-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000004/0001144879-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000004/apld-20240116.htm
  HTML page:      https://secwatch.observer/filing/0001144879-24-000004

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