Wednesday, October 7, 2026

Applied Digital reports Oct 7. Analysts expect $116M revenue and a loss of $0.30 a share. Management expects to achieve its $1B net operating income run-rate goal a year from now. In July, revenue was $259M, 167.2% above the analyst estimate, while EPS was -$0.39 versus -$0.11 expected; shares moved up 0.9%. Management is marketing 1.7GW more capacity and negotiating about 250MW of expansion leases. Watch whether the $1B goal stays on track, whether Polaris Forge 2's remaining 100MW is contracted, and whether expansion talks become signed leases.

Analysts expect $59M in revenue and $0.09 EPS for the quarter. Management gave no quarterly revenue or EPS guide and instead described continued growth for FY2027, with combined PMT and GES backlog up 24.8% and a record $40.8M Canvys backlog. Last quarter, sales were 19.6% above the estimate and EPS was $0.21 versus a $0.065 estimate; the stock rose 21.2%. Since then, no new deals were disclosed. Going in, we watch whether backlog converts, whether the promised multimillion-dollar battery energy storage order arrives, and how margins move.