Applied Digital to Release Q3 Results Amid AI Data Center Lease Launch
Applied Digital Corp is set to announce its Q3 fiscal results, with a focus on recurring revenue from AI data center leases. Analysts predict a loss of $0.135 per share on revenues of $75.5 million, a significant drop from the previous quarter's $126.6 million.
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Applied Digital Corp is expected to report a Q3 fiscal loss of $0.135 per share with revenues at $75.5 million, down from $126.6 million in the prior quarter. The decrease is attributed to the completion of low-margin tenant setup services at Polaris Forge 1.
Analysts maintain a 'Strong Buy' rating, with a target price of $45.27, indicating an 80% upside from the current $25.18. The company's total leased capacity has reached 600 MW across two North Dakota campuses.
A second 150 MW HPC data center is under construction, targeted for operation in 2026. The results will be pivotal in assessing the viability of Applied Digital's ambitious revenue strategy amid market expectations for $1 billion in annualized net operating income within five years.
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