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← Applied Digital Corporation
Q2 FY2026 earningsWed, Jan 7, 2026

Applied Digital reports fiscal Q2 2026 results

Source document ↗
Total Revenue126.59M USD
Adjusted EBITDA20.2M USD
Net Income (Loss)-14.45M USD
Revenue Backlog~16B USD

Key points

  • Fiscal Q2 2026 continuing-operations revenue of $126.6 million, up 250% year over year
  • Net loss attributable to common stockholders (continuing operations) of $31.2 million; adjusted EBITDA of $20.2 million
  • Polaris Forge 1 first 100 MW building reached ready-for-service; signed 200 MW hyperscaler lease at Polaris Forge 2, lifting aggregate prospective lease revenue to about $16 billion
  • Completed $2.35 billion 9.25% senior secured notes offering and drew $562.5 million more from the Macquarie preferred equity facility
  • $2.3 billion in cash and restricted cash and $2.6 billion in debt at quarter end