Overview

* Applied Digital ( APLD ) fiscal Q1 revenue up 84% yr/yr, beating analyst expectations

* Adjusted EPS for fiscal Q1 beats consensus

* Company finalized new lease with CoreWeave for 150 MW at Polaris Forge 1

Outlook

* Company expects Polaris Forge 1 to generate $11 bln in revenue over 15 years

* Applied Digital ( APLD ) aims for $500 mln annualized NOI once Polaris Forge 1 is operational

* Company targets $1 bln NOI within five years

Result Drivers

* LEASE AGREEMENT - Finalized a new lease with CoreWeave for an additional 150 MW at Polaris Forge 1, securing $11 bln in prospective lease revenue

* HPC HOSTING - Revenue increase primarily driven by $26.3 mln from tenant fit-out services in HPC Hosting Business

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Beat $64.20 $51 mln

Revenue mln (9

Analysts

)

Q1 Beat -$0.03 -$0.15

Adjusted (9

EPS Analysts

)

Q1 EPS -$0.11

Q1 -$7.60

Adjusted mln

Net

Income

Q1 Net -$27.80

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

* Wall Street's median 12-month price target for Applied Digital Corp ( APLD ) is $23.00, about 21.5% below its October 8 closing price of $27.94

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)