---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-25-000068"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2025-10-09T23:59:59+00:00"
generated_at: "2026-05-17T04:09:23.816999+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Applied Digital Q1 FY2026: revenue $64.2M (+84% YoY), net loss $27.8M; signs 150 MW CoreWeave lease

## Summary
- Revenue $64.2M (+84% YoY); net loss $27.8M vs prior year net income $15.9M; adjusted EBITDA $0.5M (vs $6.3M).
- Signed third lease with CoreWeave for additional 150 MW at Polaris Forge 1; total lease revenue ~$11B over ~15 years.
- Nearing completion of 100 MW building; began construction on next 150 MW building at Polaris Forge 1 campus.
- Post-quarter: drew $112.5M from Macquarie facility, secured $50M for Polaris Forge 2, raised $200M from Series G preferred.
- Management targets ~$500M annualized NOI run rate once Polaris Forge 1 fully operational.

## SEC filing metadata
- accession: 0001144879-25-000068
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2025-10-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487925000068/0001144879-25-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487925000068/apld-20251009.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-25-000068
- JSON: https://secwatch.observer/filing/0001144879-25-000068.json
- Plain text: https://secwatch.observer/filing/0001144879-25-000068.txt

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