In the second quarter, Applied Digital Corporation (APLD) experienced a significant increase in its reported losses compared to the previous year. The company's net loss amounted to $139.36 million, or $0.66 per share, contrasting with a loss of $10.53 million, or $0.10 per share, during the same period last year.
After making adjustments for specific items, the company reported an adjusted net loss of $12.57 million, equating to $0.06 per share for the quarter. Despite the increased losses, Applied Digital Corporation saw its revenue climb by 51.4%, reaching $63.87 million, up from $42.20 million in the previous year.
A summary of Applied Digital Corporation's earnings under Generally Accepted Accounting Principles (GAAP) for Q2 includes:
- Net Loss: $139.36 million compared to $10.53 million last year.
- Earnings Per Share (EPS): -$0.66 versus -$0.10 in the prior year.
- Revenue: $63.87 million, an increase from $42.20 million last year.
