Applied Digital reports Q1 adjusted EPS less than 1c, consensus (2c)

Reports Q1 revenue $36.3M, consensus $34.58M. “The first quarter represented a strong start to the fiscal year and continued momentum for Applied Digital as we made meaningful progress across our business,” said Applied Digital Chairman and CEO Wes Cummins. “We are finalizing details for our Garden City facility and have a clear path now to reaching 500 MW across our three hosting facilities. The pipeline of Cloud customer opportunities remains strong and we began deploying GPUs for our first customer in that line of business during the quarter. We remain on schedule with developing additional HPC data center capacity and look forward to signing our first anchor tenant soon.” Looking ahead, we remain confident about our growth prospects as a differentiated provider of HPC data center infrastructure. Demand for our services from both traditional customers and emerging HPC applications remains robust, and we remain excited about the year ahead.”