Technology
Price
$26.37
+1.78%Market Cap
$7.55B
Day High
$26.48
Day Low
$25.78
Applied Digital Corporation reported FY2026 revenue growth of 167.5% YoY to $611.31M, driven by the ramp-up of its HPC Hosting segment, while aggressive infrastructure expansion widened operating losses to $236.46M.
Key risk: Extreme Customer Concentration
In FY2026, a single HPC customer generated 59% of total revenue from continuing operations, and a single crypto mining customer accounted for 25%. The loss of, or non-performance by, either customer would severely harm results of operations and cash flows.