Short answer
Applied Digital Corp. (APLD) filed its Q1 2026 10-Q quarterly report on Apr 8, 2026 for the quarter ended Feb 28, 2026. Quarterly revenue was $162M (up 205.7% year over year) with net income of −$101M.
Q1 2026 key financials · XBRL
- Revenue
- $162M
- +205.7% YoY · +27.8% QoQ
- Net income
- −$101M
- −179.7% YoY · −429.1% QoQ
- Operating margin
- -36.1%
- EPS (diluted)
- −$0.37
- −184.6% YoY · −428.6% QoQ
Source: XBRL data from the Applied Digital Corp. (APLD) Q1 2026 10-Q on SEC EDGAR. USD.
Applied Digital Corp. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $126.6M for quarter, including Data Center Hosting $37.5M, Cloud Services $18.1M, HPC Hosting $71.0M
- HPC Hosting best-performing segment at $71.0M quarterly revenue
- Cloud Services lowest segment at $18.1M and 14% of total quarterly revenue
- $59.7M loss on Cloud Services asset remeasurement after held-for-sale reclassification
- Headwinds: evolving AI regulation, energy scrutiny, financing needs, construction delays, customer concentration, cryptoasset volatility
Risk Factors
- No material changes to 2025 Form 10-K risk factors
- Capital-access risk: Series G commitment increased from $590.0 million to $1.6 billion for Polaris Forge I construction
- Dilution risk: 231,750 Series G preferred shares issued and converted into common stock
- Debt risk: 6.750% senior secured notes due 2031 added during the quarter
- Customer concentration risk: Springing guarantees established for CoreWeave-related obligations in March 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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