Applied Digital reports quarterly results and major financing

Applied Digital Corporation announced its quarterly Form 10-Q results for the quarter ended August 31, 2026, including major financing, leasing, and operational updates.

• The company reported $341.9 million of total revenue, $184.1 million net loss, and $1.59 billion of 7.000% senior secured notes due 2031 issued by APLD ComputeCo 3 LLC; it also raised $275.0 million from Series G preferred stock and increased its revolving credit facility to $430.0 million.
• Applied Digital said it signed a 210 MW lease at Delta Forge 2 representing about $5.2 billion of contracted revenue, entered a two-year strategic partnership with Microsoft for about 50 MW of AI compute capacity, and later signed a 1,200 MW power purchase agreement with Base Electron for Polaris Forge 3.