Applied Digital Stock Price, News & Analysis

Applied Blockchain (Nasdaq: APLD) reported fiscal Q1 2023 revenue of $6.9 million, meeting the high end of guidance, with adjusted EBITDA of $(1.9 million, within expectations. The company announced its name change to Applied Digital Corporation, pending shareholder approval on November 10, 2022. Construction continues on co-hosting facilities with planned capacity reaching 500MW by early 2023. Notably, Marathon Digital exercised its option for additional capacity, increasing its total to 276MW. The company ended the quarter with $40.8 million in cash and $14.7 million in debt.

Applied Blockchain, Inc. (Nasdaq: APLD) will host a conference call on October 11, 2022, at 5:00 p.m. ET to discuss its fiscal first-quarter financial results ending August 31, 2022. A press release with detailed results will be shared after market close on the same day. Management will provide remarks followed by Q&A. Interested parties can join via a U.S. dial-in number or an international line. A replay will be available from 8:00 p.m. ET on October 11 through October 25, 2022.

For more information, visit the company's website.

Applied Blockchain (Nasdaq: APLD) announced on September 16, 2022, the filing of a Registration Statement on Form S-1 for approximately 48.3 million existing shares of common stock. These shares, primarily held by insiders and partners, are set to be available for sale starting December 1, 2022, under Rule 144, pending SEC approval of the Form S-1. The registration does not include new shares, and offers to buy may only be accepted once the Form S-1 is effective. This filing aims to facilitate the sale of unregistered securities without constituting an offer prior to registration.

Applied Blockchain (Nasdaq: APLD) has commenced groundbreaking of a 180MW hosting facility in Ellendale, North Dakota, having secured an Energy Service Agreement with a utility partner. This facility is the third in the company's network, following a 100MW site in Jamestown and a 200MW site in Texas. The company also expanded its partnership with Marathon Digital Holdings (Nasdaq: MARA), increasing contracted capacity at Ellendale to 276MW. The facility aims to utilize renewable energy, enhancing high-performance computing solutions by commencing operations in early 2023.

DALLAS, Sept. 07, 2022 – Applied Blockchain (Nasdaq: APLD) announced its participation in the upcoming investment conferences. The 6th Annual Lake Street Capital Markets Best Ideas Growth Conference will take place on September 14, 2022, in New York, where the management will hold one-on-one meetings with investors. Additionally, the 2nd Annual B. Riley Securities Crypto Conference is scheduled for September 29, 2022, featuring a fireside chat with Chairman and CEO Wes Cummins. Applied Blockchain focuses on developing next-generation datacenters for the high-performance computing industry.

Applied Blockchain (Nasdaq: APLD) reported fiscal fourth quarter revenue of $7.5 million, surpassing guidance of $7.0 million to $7.4 million. This marked a significant increase from the prior estimate of $5.7 million to $6.2 million. The company announced a new $15 million credit facility and continues to progress on datacenter buildouts, with plans for three facilities totaling 500MW of capacity by mid-2023. Net loss was $2.8 million, with an adjusted EBITDA of ($3.1 million). The company ended the quarter with $46.3 million in cash and $7.2 million in debt.

Applied Blockchain (Nasdaq: APLD) plans to change its name to Applied Digital Corporation to better represent its expanded services in high-performance computing (HPC). This change aims to clarify the company’s offerings beyond cryptocurrency mining. If shareholders approve the name change at the Annual General Meeting on November 10, 2022, the APLD ticker symbol will remain unchanged. Chairman and CEO Wes Cummins emphasized the company's commitment to best-in-class infrastructure while exploring new opportunities in HPC applications.

Applied Blockchain (Nasdaq: APLD) announced a conference call for August 25, 2022, at 5:00 p.m. Eastern Time to discuss its fiscal fourth quarter and yearly financial results ending May 31, 2022. The press release detailing these results will be publicized post-market close on the same day. Investors can participate via dial-in, with a replay option available from August 25 to September 8. The company operates next-gen datacenters supporting blockchain infrastructure and Bitcoin mining, partnering with leading industry players.

Applied Blockchain (Nasdaq: APLD) announced a loan agreement with a North Dakota bank for up to $15 million on July 25, 2022. The funds will be used to repay existing debt and enhance liquidity for datacenter expansion. The initial interest rate is 1.5% for the first 13 months, increasing to 6.5% thereafter. CEO Wes Cummins emphasized the facility's role in supporting growth and meeting customer demand, highlighting the company's low-cost, non-dilutive debt financing strategy.