secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2025-04-14T23:59:59+00:00
Accession:  0001628280-25-017683
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital Q3 revenue up 22% to $52.9M, net loss widens; board approves sale of Cloud Services
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- Revenue $52.9M (+22% YoY); net loss $36.1M ($0.16/sh) vs $62.8M loss prior year.
- Adjusted EBITDA positive $10.0M vs loss of $1.3M YoY; adjusted net loss $17.8M ($0.08/sh).
- Board approved plan to sell Cloud Services Business on April 10, 2025.
- Closed $375M SMBC financing; used proceeds to repay Macquarie promissory note.
- Laura Laltrello appointed COO; Ellendale HPC construction on schedule for H2 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000162828025017683/0001628280-25-017683-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000162828025017683/apld-20250414.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-017683

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