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Aug 31, 2022
Applied Digital Q1 2023 Earnings Report
Applied Digital reported financial results for the fiscal first quarter ended August 31, 2022.
Key Takeaways
Applied Digital's fiscal first quarter 2023 revenue was $6.9 million, at the high-end of guidance. The company's adjusted EBITDA was $(1.9) million, compared to adjusted EBITDA guidance of ($1.8) million) to ($2.2) million.
Fiscal first quarter 2023 revenue of $6.9 million, at the high-end of guidance.
Fiscal first quarter 2023 adjusted EBITDA of $(1.9) million, compared to adjusted EBITDA guidance of ($1.8) million) to ($2.2) million.
Announced planned corporate name change to “Applied Digital Corporation”.
Broke ground on third co-hosting facility on September 8, 2022, located in Ellendale, North Dakota with planned hosting capacity of 180MW.
Forward Guidance
The company is focused on building to nearly 500MW of hosting capacity by early calendar 2023, all of which is already contracted. Once operational, this should translate to $100 million of annualized adjusted EBITDA.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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