secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2025-10-09T23:59:59+00:00
Accession:  0001144879-25-000068
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487925000068/0001144879-25-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487925000068/apld-20251009.htm
  HTML page:      https://secwatch.observer/filing/0001144879-25-000068

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