Applied Digital's Q2 revenue surges, net loss narrows

Applied Digital

07/01/2026 22:02

Overview

Data center operator's fiscal Q2 revenue rose 250% yr/yr

Net loss for fiscal Q2 narrowed 76% yr/yr

Outlook

Company expects to exceed $1 bln NOI target within next five years

Applied Digital plans to spin out cloud services in business combination

Company anticipates increased demand from hyperscalers for new sites

Result Drivers

HPC HOSTING REVENUE - Revenue from HPC Hosting Business contributed significantly to the 250% revenue increase, with $85 mln generated in the quarter

POLARIS FORGE 1 MILESTONE - Reached Ready-for-Service at Polaris Forge 1, delivering 100 MW on schedule, contributing $12 mln in lease revenue

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$126.60 mln
Q2 Adjusted Net Income
$100,000
Q2 Net Income
-$31.20 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Applied Digital Corp is $40.50, about 33.8% above its January 6 closing price of $30.26

Press Release: ID:nGNXDF34n

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)