Applied Digital Corporation Q3 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Applied Digital Fiscal Q3 2025 Earnings Summary

  • Quarter Ending: February 28, 2025
  • Total Revenue: $52.9 million, up 22% YoY
  • Cloud Services Revenue: $17.8 million, down sequentially due to the shift from reserve to on-demand model and technical hurdles, which are now resolved
  • Data Center Hosting Revenue: $35.2 million
  • Adjusted EBITDA: $10 million, up 878% YoY
  • Adjusted Net Loss: $17.8 million or $0.08 per diluted share
  • GAAP Net Loss: $36.1 million or $0.16 per basic and diluted share

Key Business Updates

  • Operating 286MW of contracted data center hosting capacity across two North Dakota locations, both fully utilized
  • Construction at Ellendale Campus on schedule:
    • Building 1 (100MW): RFS in Q4 2025
    • Building 2 (150MW): RFS end of Q2 2026
    • Building 3 (150MW): RFS Q1 2027
  • All construction power secured and supply chain in place; equipment already landed for Building 1
  • Capital Financing:
    • Macquarie Asset Management: up to $5B investment agreement
    • Sumitomo Mitsui Bank Corporation (SMBC): $375M financing at attractive rates

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon, and welcome to Applied Digital's Fiscal Third Quarter 2025 Conference Call. My name is Jerome, and I'll be your operator today. Before this call, Applied Digital issued its financial results for the fiscal third quarter ended February 28, 2025, in a press release, a copy of which will be furnished in a report on a Form 8-K filed with the SEC and will be available in the Investor Relations section of the company's website. Joining us on today's call are Applied Digital's Chairman and CEO, Wes Cummins; and CFO, Saidal Mohmand. Following their remarks, we will open the call for questions. Before we begin, Matt Glover from Gateway Group will make a brief introductory statement. Mr. Glover, you may begin. Matt Glover: Thank you, Jerome. Good afternoon, everyone, and welcome to Applied Digital's Fiscal Third Quarter 2025 Conference Call. Before management begins formal remarks, we would like to remind everyone that some statements we're making today may be considered forward-looking statements under the securities laws and involve a number of risks and uncertainties. As a result, we caution you that there are a number of factors, many of which are beyond our control which could cause actual results and events to differ materially from those described in the forward-looking statements. For more detailed risks, uncertainties, and assumptions relating to our forward-looking statements, please see the disclosures in our earnings release and public filings made

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional