Applied Digital revenue reaches $341.9m as debt rises to $6.4bn
Applied Digital reported $341.9m of revenue for its fiscal first quarter, up 322 percent from the comparable period, according to results furnished to the SEC on Wednesday. The net loss attributable to common stockholders was $221m.
Debt is the other number.
The data center developer ended August with $6.4bn of debt and $3.7bn of cash, cash equivalents and restricted cash. Interest expense reached $77.4m, up from $8m a year earlier.
Services revenue was $262.8m. The company attributed approximately $157.2m of the increase to tenant fit-out work and $23m to GPU hardware sales by ChronoScale, its majority-owned subsidiary. Data center rental and other revenue was $79.1m, including $65.8m of base rent.
Selling, general and administrative expense rose to $114.7m. Applied Digital said $51.7m of the increase came from stock-based compensation tied to performance awards and added headcount.