Applied Digital reports quarterly results and major data center deals

Applied Digital reported fiscal first quarter 2027 results and highlighted multiple data center and power-related announcements.

• The company said it reported revenue of $341.9 million, adjusted revenue of $300.4 million, and adjusted EBITDA of $64.4 million for the quarter ended August 31, 2026; it also said it closed $1.59 billion of 7.000% Senior Secured Notes due 2031 and had $3.7 billion in cash, cash equivalents, and restricted cash with $6.4 billion in debt.
• Operational highlights included a 210 MW, 15-year lease at Delta Forge 2 representing about $5.2 billion of contracted revenue, delivery of the second 75 MW phase at Polaris Forge 1, up to approximately 1 GW of potential power capacity in Finland, and a PPA with Base Electron tied to an approximately 1,200 MW natural gas-fired facility in North Dakota; the release also noted a planned 50 MW AI deployment with Microsoft and NVIDIA GB300 NVL72 systems through ChronoScale.