Applied Digital (APLD) Q4 FY2026 Earnings News: $18.7M Revenue Beat Offset by Wider GAAP Loss

AI Market Summary
Applied Digital's Q4 FY2026 results showed a sharp revenue surge (+407% YoY) and an $18.7M beat driven largely by AI data-center fit-out services, but a wider-than-expected GAAP loss highlights margin, financing, and execution risk. A sizable ~1.4 GW contracted load and ~$36B base-term lease pipeline supports demand visibility, yet the fit-out-heavy mix underscores uncertainty around the pace of conversion to recurring rent.
Impact level
● Low
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● Neutral
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Applied Digital reported Q4 FY2026 revenue of $258.7 million, up 407% year over year, and adjusted diluted EPS of $0.04, while its GAAP loss widened. This report reviews segments, management's operational outlook, the 0.91% post-earnings move, and verified technical levels.