Applied Digital reported fiscal Q1 2025 revenues of $60.7 million, up 67% YoY, with a net loss of $4.2 million ($0.03 per share). The revenue growth was primarily driven by its Cloud Services segment, while adjusted EBITDA reached $20 million despite being impacted by $4.1 million in expenses from non-revenue generating facilities.The company secured a strategic $160 million private placement financing from institutional investors, NVIDIA and Related Companies in September 2024. Applied Digital expanded its Cloud Services Business by adding two additional GPU clusters, bringing the total to six clusters with 1,024 GPUs each. The company is also finalizing a lease agreement with a U.S.-based hyperscaler for its 100 MW HPC facility in Ellendale.Management announced executive changes effective October 14th, with David Rench becoming Chief Administrative Officer and Saidal Mohmand assuming the role of CFO. The company plans to expand its Ellendale campus capacity to 400 MW through two additional buildings and is actively marketing three additional campuses totaling 1.4 GW to support its vision of becoming a major HPC data center platform.

Applied Digital reported fiscal Q1 2025 revenues of $60.7 million, up 67% YoY, with a net loss of $4.2 million ($0.03 per share). The revenue growth was primarily driven by its Cloud Services segment, while adjusted EBITDA reached $20 million despite being impacted by $4.1 million in expenses from non-revenue generating facilities.The company secured a strategic $160 million private placement financing from institutional investors, NVIDIA and Related Companies in September 2024. Applied Digital expanded its Cloud Services Business by adding two additional GPU clusters, bringing the total to six clusters with 1,024 GPUs each. The company is also finalizing a lease agreement with a U.S.-based hyperscaler for its 100 MW HPC facility in Ellendale.Management announced executive changes effective October 14th, with David Rench becoming Chief Administrative Officer and Saidal Mohmand assuming the role of CFO. The company plans to expand its Ellendale campus capacity to 400 MW through two additional buildings and is actively marketing three additional campuses totaling 1.4 GW to support its vision of becoming a major HPC data center platform.