Applied Digital (NASDAQ: APLD) reported Q2 EPS of ($0.05), $0.13 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $42.2 million versus the consensus estimate of $56.8 million.

Guidance:

Due to the delayed delivery of certain networking components for GPU clusters, we now expect our revenue and EBITDA to be below the low end of our previously guided range for fiscal year 2024. While the delay in network components did have a significant impact on the timing of commissioning clusters and on our revenue and EBITDA, deliveries of these key components improved significantly in recent weeks. We now expect to exit fiscal year 2024 at an annual revenue run rate of approximately $500 million and an annualized adjusted EBITDA run rate of approximately $250 million. Our expected fiscal year 2024 exit revenue and adjusted EBITDA run-rates represent a year-over-year growth in exit run-rate in revenue and adjusted EBITDA of approximately 360% and 935%, respectively and without any further equity-dilution.

For earnings history and earnings-related data on Applied Digital (APLD) click here.