Applied Digital Q4 Highlights: 56% Sequential Revenue Growth, AI Cloud Service, Solid Outlook & More
Portfolio Pulse from Lekha Gupta
Applied Digital Corp (APLD) reported Q4 FY23 revenue of $22 million, up 193% Y/Y, but missed the consensus of $29.57 million. The company launched an AI cloud service and acquired its first and second AI customers. For FY 2024, the company expects revenue within $385 million – $405 million and adjusted EBITDA of $195 million – $205 million. APLD shares are trading higher by 20.3% at $9.29.
July 24, 2023 | 2:55 pm
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POSITIVE IMPACT
Applied Digital's Q4 FY23 revenue grew 193% Y/Y but missed consensus. The company launched an AI cloud service and acquired its first and second AI customers. Shares are up 20.3%.
Despite missing the consensus, Applied Digital's significant Y/Y revenue growth, the launch of an AI cloud service, and the acquisition of its first and second AI customers are positive developments that could boost investor confidence. This is reflected in the 20.3% increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100