Applied Digital Reports $258.7M Q4 Revenue, Up 407% YoY; Adjusted Net Income $12.9M

Applied Digital reported Q4 FY2026 revenue of $258.7 million, surging 407% year-over-year, according to its official financial results. The company generated adjusted EBITDA of $42.4 million with net operating income (NOI) of $39.9 million, representing a 91% NOI margin. HPC hosting services contributed $203 million, while crypto data center hosting generated $37.3 million.

The company reported net loss attributable to common shareholders of $111.6 million, primarily driven by $116.8 million in equity compensation costs. Adjusted net income reached $12.9 million, or $0.04 per share.