Applied Digital reported quarterly revenue of $258.7 million in Q4 fiscal 2026, a 407% year-over-year increase, beating Wall Street estimates. The company posted full-year adjusted net income of $36.1 million, or $0.11 per diluted share. Its contracted backlog stands at approximately $36 billion, supported by three 15-year take-or-pay lease agreements worth roughly $20 billion covering 810 MW of capacity with an investment-grade hyperscaler. Applied Digital also completed the spinoff of its cloud services business into ChronoScale Holdings, now trading on Nasdaq under the ticker CHRN, while retaining 96% ownership.
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