Applied Digital posted $52.9M in revenue, up from the previous year, but recorded a net loss of $36.1M. The company advanced development on its Ellendale data center and secured $375M financing from SMBC. It also announced plans to divest its Cloud Services business.
Total revenue grew to $52.9 million, a 22% increase year-over-year.
Adjusted EBITDA reached $10 million, compared to a loss of $1.3 million in Q3 2024.
Cloud Services revenue increased 220% year-over-year to $17.8 million.
Net loss for the quarter was $36.1 million, an improvement from $62.8 million a year ago.
The company expects to sharpen its strategic focus by selling the Cloud Services business and scaling its Ellendale HPC Campus.
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