Q2’FY23 revenue stood at $12.3 million, below Needham’s $13 million and against the Street consensus of $12.2 million.
Q2’FY23 adjusted EBITDA loss of $(2.13) million missed Needham’s $(0.70) million loss and Street consensus loss of $(1.18) million.
Q2’FY23 EPS loss of $(0.29) missed Street’s consensus loss of $(0.06).
In Todaro’s view, Applied Digital is on track to hit top-line and adjusted EBITDA estimates with facility expansions tracking along.
APLD’s Texas facility won regulatory approval and will likely be energized in Feb ’23.
Todaro shared excitement about the longer-term opportunity in HPC, given the more robust economics and the demand backdrop stemming from AI and machine learning.
Price Action: APLD shares traded higher by 2.40% at $2.13 on the last check Tuesday.
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