Applied Digital reported fiscal year 2024 revenue of $165.6 million, up 199% from $55.4 million in FY2023, despite a net loss of $149.7 million. The fourth quarter revenue was $43.7 million, with adjusted EBITDA of $4.8 million, though impacted by transformer issues at the Ellendale facility. The company successfully restored full power capacity by June 2024.The company's Cloud Services division generated $29.0 million in revenue during FY2024, with six clusters now online. In HPC Data Center development, Applied Digital entered into an LOI with a US-based hyperscaler for 400MW capacity, including their 100MW facility under construction and two planned buildings in Ellendale, North Dakota.Post fiscal year-end, Applied Digital secured over $150 million in funding through various financings and the Garden City contingency settlement. The company received $25 million from the Garden City facility sale escrow and completed transformer-based repairs at the Ellendale Data Center, restoring it to full operating capacity by June 28, 2024.

Applied Digital reported fiscal year 2024 revenue of $165.6 million, up 199% from $55.4 million in FY2023, despite a net loss of $149.7 million. The fourth quarter revenue was $43.7 million, with adjusted EBITDA of $4.8 million, though impacted by transformer issues at the Ellendale facility. The company successfully restored full power capacity by June 2024.The company's Cloud Services division generated $29.0 million in revenue during FY2024, with six clusters now online. In HPC Data Center development, Applied Digital entered into an LOI with a US-based hyperscaler for 400MW capacity, including their 100MW facility under construction and two planned buildings in Ellendale, North Dakota.Post fiscal year-end, Applied Digital secured over $150 million in funding through various financings and the Garden City contingency settlement. The company received $25 million from the Garden City facility sale escrow and completed transformer-based repairs at the Ellendale Data Center, restoring it to full operating capacity by June 28, 2024.