---
schema_version: "secwatch.filing_event.v1"
accession: "0001898844-23-000007"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T02:02:36.633265+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001898844-23-000007
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000189884423000007/0001898844-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000189884423000007/apld-20231009.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001898844-23-000007
- JSON: https://secwatch.observer/filing/0001898844-23-000007.json
- Plain text: https://secwatch.observer/filing/0001898844-23-000007.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000189884423000007/0001898844-23-000007-index.htm

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