Applied Digital Announces Fiscal Q2 2026 Results
Applied Digital Corporation, based in Dallas, Texas, has reported significant financial results for the fiscal second quarter of 2026, ending November 30, 2025. The company specializes in high-performance data centers customized for artificial intelligence and other advanced computational workloads.
Fiscal Q2 2026 Results Overview
During the fiscal second quarter of 2026, Applied Digital achieved revenues of $126.6 million, marking a remarkable 250% increase from the same period last year.
- Net Loss: The net loss attributable to common stockholders was $31.2 million, a considerable reduction of 76% compared to the previous year’s quarter.
- Net Loss per Share: Net loss per basic and diluted share stood at $0.11, down 82% from the prior year.
- Adjusted EBITDA: The company reported adjusted EBITDA of $20.2 million for the quarter.
Operational Highlights
Several key developments occurred during this quarter:
- Polaris Forge Projects: The first building of the 400 MW AI Factory campus at Polaris Forge 1 was completed, contributing 100 MW of operational capacity.
- New Lease Agreement: A 15-year lease was signed with an investment-grade hyperscaler for 200 MW of capacity at Polaris Forge 2, expected to generate around $5 billion in revenue.
- Private Offering: The company completed a $2.35 billion issuance of senior secured notes due in 2030.
- Funding for AI Factory: Applied Digital secured an additional $562.5 million from Macquarie Asset Management, aiding in the development of both Polaris Forge 1 and 2.
Financial Position and Future Outlook
As of the end of November 2025, Applied Digital maintained a robust balance sheet:
- Cash Position: The company reported approximately $2.3 billion in cash and cash equivalents.
- Total Assets: Total assets amounted to $5.2 billion against liabilities of $3.2 billion.
The management anticipates strong future growth, fueled by increasing demand for AI infrastructure. Applied Digital’s CEO, Wes Cummins, noted the significant momentum in the market and the company’s position as a competitive force.
Focus on Technological Advancements
Applied Digital continues to invest in cutting-edge technologies, particularly in direct-to-chip liquid-cooling systems, which support high-density data operations. The company has made strategic investments in companies like Corintis to enhance its technological edge.
Conclusion
The fiscal second quarter results demonstrate Applied Digital’s strong growth trajectory, propelled by substantial investment and strategic partnerships. The company’s focus on expanding its data center capacity aligns with the rising demand for AI and high-performance computing solutions.
