Applied Digital delivered a strong fiscal Q1 2027 performance, with revenue surging 322% year-on-year to $341.9 million. The company benefited from continued growth in demand for AI-focused data-centre infrastructure, while its adjusted loss narrowed sharply from the year prior. (Sources: Applied Digital, Investing.com, Simply Wall St)
Applied Digital's revenue jumped to $341.9 million from $80.9 million a year earlier. Tenant fit-out services contributed $183.5 million, while base rent revenue reached $65.8 million. Adjusted EBITDA also rose sharply to $64.4 million from just $0.5 million in the year-ago quarter.
Applied Digital continues to expand its AI infrastructure footprint. Polaris Forge 1 has reached 250 MW of live capacity, while the company has leases covering around 1.41 GW of critical IT load. These agreements represent approximately $36 billion in contracted revenue over their initial terms.
Applied Digital has secured access to up to approximately 1 GW of potential power capacity in Finland, marking an important step in its international expansion. The first 100 MW is expected to become available in 2028, with the site being positioned as a potential large-scale European AI campus.
Despite strong revenue growth, Applied Digital remains loss-making as it invests heavily in expanding its data-centre infrastructure. The company reported a GAAP net loss attributable to common shareholders of $221 million, compared with a loss of $18.5 million a year earlier, highlighting the capital-intensive nature of its expansion strategy.