Applied Digital Corporation has released its financial results, reporting total revenues of $165.574 million for the fiscal year ended May 31, 2024. This marks a significant increase compared to the $55.392 million in revenues reported for the previous fiscal year ending May 31, 2023. Despite the rise in revenues, the company reported a net loss of $149.670 million for the fiscal year 2024, a deterioration from the $44.002 million loss in 2023. The basic and diluted net loss per share attributable to continuing operations was reported as $(1.31) for 2024, compared to $(0.93) in 2023. The weighted average number of shares outstanding remained consistent at approximately 193.4 million shares for 2023 and 114.1 million for 2024. Additionally, the company is considering a potential sale of its Cloud Segment, which could result in adjustments to future financial statements. Applied Digital Corporation has not provided specific outlook or guidance for future periods within the released documents.
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