Applied Digital Corporation (NASDAQ:APLD) shares are tending on Friday.
Check out the current price of APLD stock here.
According to Benzinga Pro data, shares of APLD jumped to $34.20 in after-hours trading on Wednesday, rising 16.76%, after closing the regular session at $29.29. The surge came after the company released its fiscal first-quarter 2026 earnings report on Thursday.
Revenue Increases 84% Year-Over-Year
Dallas-based data center operator Applied Digital reported $64.2 million in revenue for its fiscal first quarter ended August 31 — a sharp increase from $34.8 million during the same period last year.
Despite the revenue growth, the ata center operator posted a net loss of $27.8 million, or $0.11 per share.
On an adjusted basis, the loss came in at $0.03 per share, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaling $500,000.
CoreWeave Lease Brings Total Contracted Revenue to $11 Billion
Applied Digital has also finalized a new lease deal with CoreWeave, Inc. (NASDAQ:CRWV) for an additional 150 megawatts at its Polaris Forge 1 campus in Ellendale, North Dakota. With this agreement, the 400-megawatt facility is now fully leased.
According the company's earnings release, APLD expects to generate around $11 billion in lease revenue from its fully contracted Polaris Forge 1 facility over the next 15 years. This total includes about $7 billion tied to the first two lease agreements signed in May.
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Wes Cummins, Chairman and CEO of Applied Digital, said the lease agreement “validates our platform and execution, positioning Applied Digital as a trusted strategic partner to the world’s largest technology companies.”
Post-Quarter Financing Totals $362.5 Million
After the fiscal first quarter ended August 31, the Texas-based company drew $112.5 million from its $5 billion preferred equity facility with Macquarie Asset Management, an Australian-based asset manager.
Applied Digital has also secured $50 million in funding from Macquarie Equipment Capital, Inc. to support development of its roughly $3 billion, 300-megawatt Polaris Forge 2 campus near Harwood, North Dakota.
In addition, the company raised $200 million through an expanded Series G Preferred Stock offering.
According to company press release, APLD has broken ground on its Polaris Forge 2 campus, with the first 200 megawatts expected to come online in 2026 and the facility reaching full capacity by 2027.
Balance Sheet Shows $114.1 Million Cash Position
As of August 31, Applied Digital reported $114.1 million in cash, cash equivalents, and restricted cash, along with $687.3 million in debt. These figures do not include the $362.5 million raised through financings completed after the quarter ended. The company also stated it is targeting an annualized net operating income run rate of around $500 million once Polaris Forge 1 is fully up and running.
Market Presence
Applied Digital's stock has seen significant upward movement across multiple timeframes. Over the past year, shares have increased by 325.11%. In 2025 to date, the stock is up 283.38%, including a 470.96% gain over the past six months.
Over the past year, shares of the digital infrastructure solutions has traded between $3.31 and $29.98. The company currently has a market capitalization of $7.89 billion, with an average of 27.49 million shares changing hands each day.
Benzinga’s Edge Stock Rankings highlight APLD has Momentum in 98th percentile. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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