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May 31, 2024
Applied Digital Q4 2024 Earnings Report
Reported financial results for the fiscal fourth quarter and full year ended May 31, 2024.
Key Takeaways
Applied Digital reported Q4 2024 revenue of $43.7 million and a net loss of $64.8 million. The company resolved transformer issues at its Ellendale Data Center Hosting facility, restoring it to full power capacity by the end of June. They also secured over $150 million in funding and are in advanced discussions for project-level financing with an investment-grade tenant.
Q4 revenue reached $43.7 million.
Net loss for Q4 was $64.8 million.
Adjusted EBITDA for Q4 was $4.8 million.
Ellendale Data Center Hosting facility restored to full capacity by the end of June.
Applied Digital
Applied Digital
Forward Guidance
Applied Digital anticipates sequential improvements in top-line revenue as they enter the first quarter of fiscal year 2025.
Positive Outlook
- Successfully resolved all transformer issues at Ellendale Data Center Hosting facility, restoring it to full power capacity.
- Made significant progress on key growth initiatives, particularly in expanding Cloud Services business.
- Executing an LOI with a U.S.-based hyperscaler for 400 MW capacity.
- State-of-the-art, 369,000-square-foot facility is designed for HPC applications such as Artificial Intelligence.
- Actively marketing three additional campuses totaling 1.4 GW.