APPLIED DIGITAL CORPORATION (APLD)
NASDAQInformation TechnologyInformation Technology ServicesSnapshot 2026-09-04
$26.37+1.78%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologyInformation Technology ServicesSnapshot 2026-09-04
QuarterlyIQ Insights · APLD
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within information technology on a research-validated quality screen. As of 2026-09-04.
The screen ranks APLD against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 0 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated weak grew net income 47% of the time over the next year (vs 59% for the rest of the cohort, n=6360).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue building and leasing AI Factory campuses with hyperscalers, targeting 1.4 GW contracted critical IT load and $36 billion in base-term revenue.
Stated as a priority in 3 of last 3 quarters. Management reported 1.4 GW of contracted critical IT load representing approximately $36 billion in base-term revenue across five AI Factory campuses as of 2026-Q4. The company broke ground on new campuses and signed multiple long-term leases, showing delivering progress on expansion.
“Signed three new leases totaling 1.4 GW and $36 billion in base-term contracted revenue across five campuses.”
“Broke ground on Delta Forge 1, a 300 MW AI Factory campus, with initial operations expected mid-2027.”
“Reported 1.4 GW of contracted critical IT load across five campuses representing $36 billion in total contracted revenue.”
Obtain and manage debt and credit facilities to support development and construction of AI Factory campuses and data centers.
Stated as a priority in 3 of last 3 quarters. The company completed a $2.15 billion senior secured notes offering and closed a $550 million revolving credit facility to fund data center construction. These financings support ongoing campus development and demonstrate delivering progress on capital allocation.
Increase revenue and operating profit from HPC Hosting and Data Center Hosting segments by expanding capacity and improving performance.
Stated as a priority in 3 of last 3 quarters. HPC Hosting revenue increased significantly from $71 million in 2026-Q3 to $203 million in 2026-Q4, while Data Center Hosting revenue remained stable around $37 million. Segment operating profits were reported at $26.2 million and $12.5 million respectively in 2026-Q4, indicating delivering growth in core businesses.
Finalize separation of cloud services business and support growth of ChronoScale as an independent accelerated-compute platform.
Stated as a priority in 2 of last 3 quarters. The company completed the separation of its cloud services business, forming ChronoScale with Applied Digital owning approximately 96% equity. This milestone was achieved as planned, showing delivering progress on this strategic separation.
“Completed separation of cloud services business, owning approximately 96% of ChronoScale.”
Focus on improving operating income and managing costs amid business growth and expansion.
Stated as a priority in 3 of last 3 quarters. Adjusted net income improved from a loss of $7.6 million in 2025-Q4 to a positive $12.9 million in 2026-Q4, and Adjusted EBITDA rose from $1.0 million to $42.4 million over the same period. Despite net losses, these non-GAAP measures indicate delivering progress on operating income and cost management.
Over the trailing year it converted 3.81x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
68 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Information Technology names rated volatile grew net income 60% of the time over the next year (vs 58% for the rest of the cohort, n=2769).
Not investment advice. As of 2026-09-04.
“Completed $2.15 billion private offering of senior secured notes and closed $550 million revolving credit facility.”
“Completed $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 to fund Polaris Forge 2 campus.”
“Closed revolving credit facility of up to $550 million arranged by Goldman Sachs to support development.”
“HPC Hosting revenue totaled $203 million with $26.2 million segment operating profit; Data Center Hosting revenue was $37.3 million with $12.5 million operating profit.”
“HPC Hosting revenue was $71 million; Data Center Hosting revenue was $37.5 million with $13.9 million segment operating profit.”
“Reported HPC Hosting revenue of $71 million and Data Center Hosting revenue of $37.5 million.”
“Announced proposed business combination of cloud business with EKSO to form ChronoScale.”
“Adjusted net income was $12.9 million and Adjusted EBITDA was $42.4 million despite net loss.”
“Adjusted net income was $33.2 million and Adjusted EBITDA was $44.1 million.”
“Reported adjusted net income and EBITDA improvements compared to prior year.”