Applied Digital (APLD) Q1 2027 Earnings
How Did APLD Stock React to Q1 2027 Earnings?
Did APLD Beat Earnings? Q1 2027 Results
Yes. Applied Digital reported Q1 2027 earnings of $-0.01 a share on Oct 7, 2026, beating the $-0.30 consensus estimate by 96.7%. Revenue was $341.9M against a $124.6M estimate.
Applied Digital Corp. delivered a blowout fiscal Q1 2027, beating Wall Street on both lines and extending its streak of consecutive quarterly EPS beats to six. The company posted adjusted EPS of $-0.01, far ahead of the $-0.3023 consensus estimate, a 96.69% beat, while revenue of $341.88 million demolished the $124.57 million estimate by 174.45% and reflected 432.4% growth year-over-year. The driving force behind the quarter was the rapid ramp of Applied Digital's HPC Hosting segment, which alone generated $262.60 million in revenue as tenant fit-out services at its Polaris Forge campuses accelerated, pushing adjusted EBITDA to $64.41 million from just $537,000 a year ago. The company has now leased approximately 1.41 GW of critical IT load representing roughly $36.00 billion in contracted revenue over initial base terms, and with Polaris Forge 2 in Harwood expected to bring North Dakota capacity to 300 MW by year-end 2026, management sees sustained infrastructure demand as coastal and metro markets grow increasingly constrained, reinforcing the company's positioning in the AI data center buildout.
- HPC Hosting revenue of $262.6 million driven by $183.5 million in tenant fit-out services and $65.8 million in base rental revenue
- Polaris Forge 1 campus reached 250 MW of live capacity across two buildings and 10 data halls
- Adjusted EBITDA surged to $64.4 million from $0.5 million in the prior-year quarter
- Net Operating Income of $58.8 million at 89% margin from HPC Hosting base rental operations
- Data Center Hosting stable at $37.8 million in revenue with facilities operating at full capacity
“Our goal is to establish Applied Digital as the category leader in the design, construction, deployment, and operation of purpose-built AI factories. We are building for the long term, with a clear focus on developing large-scale, sustainable AI factory campuses and securing durable, high-quality, long-term contracts with proven, tier-one, investment grade hyperscalers that are leaders in the AI industry.”
Applied Digital CEO, on the earnings call
What Is Applied Digital's Outlook?
Applied Digital expects initial operations at Polaris Forge 2 in Harwood to increase delivered critical IT load across its North Dakota campuses to 300 MW by the end of calendar 2026. The company has approximately 1.41 GW of leased critical IT load representing approximately $36 billion of contracted revenue over initial base terms, or approximately $86 billion if all renewal options are exercised. The company secured up to approximately 1 GW of potential power capacity in Finland as a measured entry into European AI markets, while its near-term development strategy remains centered on its U.S. portfolio. Management expects additional hyperscalers to enter the Dakotas over time as coastal and metro markets become increasingly constrained.
APLD YoY Financials
| Metric | Q1 2027 | Q1 2026 | Year over year |
|---|---|---|---|
| Revenue | $341.9M | $64.2M | +432.4% |
| Gross Profit | $52.3M | $8.6M | +507.5% |
APLD Revenue by Segment
When Does Applied Digital Report Next?
Figures from SEC filings and company reports. Not investment advice.