Applied Digital Q1 revenue $36.3M, adj. EBITDA $10.0M, reaffirms FY2024 guidance

Applied Digital Corp.

2024-Q1 EPS reported -$0.12 revenue$36,323,000

Revenue $36.3M (+425% YoY); net loss $11.9M ($0.12/share) vs loss $4.7M a year ago.
Adjusted EBITDA $10.0M vs $(1.7)M YoY; adjusted net income $0.1M.
Reaffirmed FY2024 guidance: revenue $385M-$405M, adj. EBITDA $195M-$205M.
Fully energized 180MW Ellendale facility; Garden City, TX expected to energize in Q4 2023.
Accrued $2.3M loss on legal settlement, increasing net loss from previously reported $9.6M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Applied Digital Corp. reported fiscal first quarter ended August 31, 2023 results: revenue $36.3 million, net income $11.9 million, EPS $(0.12) per basic and diluted share. Guidance reaffirmed.

Period: fiscal first quarter ended August 31, 2023
Revenue: $36.3 million
Net income: $11.9 million
EPS: $(0.12) per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ended August 31, 2023. The Company also provided forward guidance and an operational update. Fiscal First quarter 2024 Financial and Operational Highlights • Total revenue of $36.3 million • Net loss of $11.9 million • Adjusted EBITDA of $10.0 million • Adjusted net income from operations of $0.1 million, or adjusted earnings per share of less than $0.01 • Fully

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Applied Digital Corp. filing history →

Source: SEC EDGAR

accession 0001898844-23-000007

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