Applied Digital Corporation (NASDAQ: APLD) is a designer, builder, and operator of next-generation data centers focused on high-performance computing (HPC), artificial intelligence, cloud, and blockchain workloads.
The company is scheduled to report its fiscal third-quarter 2026 results (ended February 28, 2026) after market close on April 8, 2026, followed by a conference call at 5:00 p.m. Eastern Time.
Analyst estimates for Q3 include:
Growth is being fueled by the expansion of APLD’s data center portfolio, particularly the Polaris Forge campus. The company has secured long-term leases expected to generate approximately $16 billion in total prospective revenue over 15-year terms across ~600 MW of capacity. This includes major agreements with CoreWeave and a large U.S. hyperscaler.
In late March 2026, APLD restructured portions of its CoreWeave leases at the Polaris Forge 1 facility, incorporating additional credit support (including a $50 million letter of credit and parent guarantees) to strengthen the arrangements.
Risks include potential supply chain disruptions, construction delays, interest rate exposure, and customer concentration (particularly with CoreWeave). However, analysts remain generally optimistic, citing the massive contracted backlog and the AI-driven demand for high-density data centers. The stock has traded around $25 in recent sessions.
This earnings report will be closely watched for updates on construction progress at Polaris Forge, leasing momentum, and guidance for the remainder of fiscal 2026.
