Short answer
Applied Digital Corp. (APLD) filed its Q4 2025 10-Q quarterly report on Jan 8, 2026 for the quarter ended Nov 30, 2025. Quarterly revenue was $127M (up 98.2% year over year) with net income of −$19M.
Q4 2025 key financials · XBRL
- Revenue
- $127M
- +98.2% YoY · +97.1% QoQ
- Net income
- −$19M
- +86.3% YoY · −3.1% QoQ
- Operating margin
- -24.5%
- EPS (diluted)
- −$0.07
- +90.9% YoY · +0.0% QoQ
Source: XBRL data from the Applied Digital Corp. (APLD) Q4 2025 10-Q on SEC EDGAR. USD.
Applied Digital Corp. Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue Data Center Hosting $41.6M (3 months), $79.5M (6 months); HPC Hosting $85.0M (3 months), $111.3M (6 months) ended Nov 30, 2025; discontinued Cloud Services $18.4M (3 months), $35.1M (6 months)
- Best performing segment HPC Hosting with $85.0M revenue for 3 months ended Nov 30, 2025; worst discontinued Cloud Services with $18.4M revenue for same period
- Cash position: $196.4M gross proceeds from common stock sales under ATM; $590M gross proceeds from Series G Preferred Stock for 6 months ended Nov 30, 2025; full repayment of $50M Promissory Note in November 2025
- Near-term outlook: Polaris Forge 2 data center anticipated initial capacity in 2026; regulatory risks noted with evolving AI/blockchain legislation and energy usage scrutiny; no updated revenue or margin guidance provided
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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