Applied Digital Corp (NASDAQ:APLD) reported financial results for the first quarter of fiscal 2026 after the market close on Thursday. Here’s a look at the key details from the report.

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Q1 Highlights: Applied Digital reported first-quarter revenue of $64.22 million, beating analyst estimates of $49.99 million, according to Benzinga Pro. The digital infrastructure provider reported a first-quarter adjusted loss of three cents per share, beating analyst estimates for a loss of 13 cents per share.

Total revenue was up 84% on a year-over-year basis, primarily driven by $26.3 million of revenue related to tenant fit-out services associated with the company’s high performance computing (HPC) hosting business. The rest of the ...