secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0001144879-24-000077
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital Q3 revenue $43.3M (+208% YoY); net loss $62.8M; Ellendale outage weighs
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- Net loss of $62.8M ($0.52/share) vs $7.3M loss a year ago; adjusted EBITDA loss of $2.3M.
- Revenue rose 208% to $43.3M on expanded datacenter capacity and new Cloud services revenue.
- Ellendale 180MW facility experienced power outage in Jan; re-energized to ~14% capacity (25MW); targeting 65-75% by end of May.
- Executed LOI with US hyperscaler for 400MW lease at Ellendale campus (incl. 100MW HPC facility).
- Strengthened balance sheet with $160M in asset sales/financing; cash and equivalents $41M, debt $61.8M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000077/0001144879-24-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000077/apld-20240411.htm
  HTML page:      https://secwatch.observer/filing/0001144879-24-000077

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