Applied Digital reports revenue surge in fiscal Q1 2027

Applied Digital reported total revenue of $341.9 million for its fiscal Q1 2027, a significant increase from the $80.9 million recorded during the same period the previous year.

While the company saw headline growth, the revenue was largely driven by tenant fit-out services, which contributed $183.5 million. In contrast, base rent within the AI computing segment accounted for $65.8 million of the total quarterly revenue.

The company recorded a net loss from continuing operations of $221 million, or $0.76 per share, which included non-cash charges and stock compensation. However, the operating loss has narrowed from 52% of revenue three years ago to 29% over the last twelve months. Management expects to place over 600 megawatts into service over the next twelve months.