Applied Digital Shares Surge In Pre-market On Higher Q1 Revenues, Despite Wider Loss

(RTTNews) - Applied Digital Corp. (APLD), a data center developer, reported that its net loss widened for the first quarter compared to last year, despite significantly higher revenues.

Looking ahead, the company said, "With a multi-GW pipeline, active and increasing hyperscaler interest, and long-term contracted visibility, we are positioned to scale rapidly at a moment when demand for advanced infrastructure is reaching unprecedented levels worldwide."

In the pre-market activity on the Nasdaq, the shares wre gaining 21.4 percent or 6.28 cents, to trade at $35.57.

In the first quarter, the company's net loss attributable to stockholders widened to $18.50 million from a loss of $4.29 million in the previous year.

On a per share basis, net loss increased to $0.07 from loss of $0.03 a year ago.

On a continuing operations basis, the company slipped to net loss of $27.82 million from a profit of $15.87 million last year.

Loss per share from continuing operations was $0.11, compared to earnings of $0.11 per share a year ago.

Adjusted net loss from continuing operations was $7.57 million or $0.03 per share in the latest quarter, compared to loss of $0.80 million or $0.01 per share a year ago.

For the quarter, revenue was $64.22 million, 84% higher than $32.92 million in the prior year.