NASDAQ$APLD
Applied Digital Corporation · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
Reported a 51% increase in revenue and secured a $5.0 billion perpetual preferred equity financing facility.
Applied Digital reported a 51% increase in revenue to $63.9 million for the fiscal second quarter of 2025. The company secured a $5.0 billion perpetual preferred equity financing facility and energized the on-site main substation transformer at its Ellendale HPC data center.
- Revenue increased by 51% year-over-year to $63.9 million.
- Net loss was $138.7 million, impacted by losses on debt.
- Adjusted EBITDA increased by 93% year-over-year to $21.4 million.
- Entered into a $5.0 billion perpetual preferred equity financing facility with Macquarie Asset Management.
Headline financials
Revenue & EPS history
Applied Digital · Revenue · Quarterly
$63.9M
Forward guidance
The company is in late stage negotiations for its Ellendale campus and believes it is well-positioned to capitalize on the growing demand for power and data centers.
Tailwinds
- Strategic investments from CIM Group, NVIDIA, and Macquarie Asset Management validate the company's vision.
- These investments lower the cost of capital.
- These investments accelerate the development of the company's pipeline.
- The company is establishing a platform for building and operating multiple HPC data centers.
- Significant progress has been achieved this quarter.
Headwinds
- Hyperscalers' timelines may extend longer than initially expected.
- Rapid expansion of hyperscale data centers presents challenges to electricity availability in the U.S.
- There could be a shortfall of approximately 36 GW in power availability for U.S. data centers by 2028.
- Adding new capacity requires lengthy planning, regulatory approvals, and the development of new generation and transmission infrastructure.
- These processes can span years or even decades.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2025
+5.3%
Avg return
Earnings day
+11.0%
Avg return
5 days after
+21.6%
Avg return
30 days after
75%
15 / 20 earnings
Positive
+32.6%
Q4 2023
Best reaction
-35.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +14.1% | +13.2% | +48.4% | |
| Q2 2026 | +7.8% | +13.0% | +9.4% | |
| Q1 2026 | +16.0% | +28.9% | +5.8% | |
| Q3 2025 | -35.9% | -26.4% | +4.1% | |
| Q2 2025 | +7.7% | +14.6% | +1.9% | |
| Q1 2025 | -12.2% | -3.8% | -3.7% | |
| Q4 2024 | -19.2% | -22.8% | +73.2% | |
| Q3 2024 | -9.4% | -18.1% | +10.7% | |
| Q2 2024 | -31.5% | -35.1% | -34.0% | |
| Q1 2024 | +4.8% | -0.8% | -5.4% | |
| Q4 2023 | +32.6% | +21.8% | -12.2% | |
| Q3 2023 | +22.8% | +40.9% | +57.7% | |
| Q2 2023 | +16.7% | +15.1% | +83.3% | |
| Q1 2022 | +14.9% | +21.4% | +39.3% | |
| Q1 2023 | +8.7% | +20.6% | +31.2% | |
| Q2 2022 | +1.0% | +8.7% | -15.5% | |
| Q4 2022 | +4.0% | +5.1% | -19.7% | |
| Q3 2021 | +21.1% | +41.1% | +52.2% | |
| Q4 2021 | +21.1% | +41.1% | +52.2% | |
| Q3 2022 | +21.1% | +41.1% | +52.2% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro