Applied Digital (APLD) shares rose 5.5% in extended trading on Wednesday after the technology company reported second-quarter results.
For the period ending Nov. 30, Applied said it broke-even per share on an adjusted basis, as revenue rose 250% year-over-year to $126.6M.
In addition, Applied said it has signed leases with two hyperscalers across two campuses in North Dakota.
“The Dakotas represent a compelling region for hyperscalers due to their cool climate and abundant energy. We believe our first-mover advantage, combined with our proven ability to execute technically complex data center construction, positions Applied Digital with a strong competitive advantage. Having already secured two hyperscalers in the region, inbound demand has increased meaningfully. We are also in advanced discussions with another investment-grade hyperscaler across multiple regions, including additional locations in the Dakotas and select southern U.S. markets. While there can be no assurance of future contracts, we believe we are well positioned to begin construction in the near term on these new sites,” said Wes Cummins, Chairman and Chief Executive Officer.
The company will host a conference call at 5 p.m. EST to discuss the results.
