0001144879-26-000057
SEC filingAPLD首季营收3.419亿美元同比增322%，HPC租赁与fit-out驱动，但GAAP净亏2.21亿美元、调整后仅亏410万。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $341,875 thousand | $80,934 thousand | +322% |
| Services revenue | $262,755 thousand | $80,934 thousand | +225% |
| Data center rental and other revenue | $79,120 thousand | — | — |
| Operating loss | $(62,379) thousand | $(9,762) thousand | — |
| Net loss from continuing operations | $(168,001) thousand | $(16,926) thousand | — |
| Net loss attributable to common stockholders | $(237,082) thousand | $(18,502) thousand | — |
| Net loss attributable to common stockholders from continuing operations | $(221,028) thousand | $(18,502) thousand | — |
| Basic and diluted net loss per share attributable to common stockholders | $(0.82) | $(0.07) | — |
| Basic and diluted net loss per share from continuing operations | $(0.76) | $(0.07) | — |
| Adjusted revenue (Non-GAAP) | $300,393 thousand | $64,216 thousand | — |
| Adjusted net loss (Non-GAAP) | $(4,053) thousand | $(7,570) thousand | — |
| Adjusted net loss per diluted share (Non-GAAP) | $(0.01) | $(0.03) | — |
| Adjusted EBITDA (Non-GAAP) | $64,412 thousand | $537 thousand | — |
| Net Operating Income (Non-GAAP) | $58,829 thousand | — | — |
| 分部 | 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|---|
| HPC Hosting | Revenue | $262.6 million | — | — |
| HPC Hosting | Segment operating profit | $33.4 million | — | — |
| Data Center Hosting | Revenue | $37.8 million | $37.9 million | — |
| Data Center Hosting | Segment operating profit | $13.3 million | — | — |
本期营收 $341.9 million 同比大增 322%，核心来自 HPC Hosting 业务：base rent $65.8 million、tenant fit-out services $183.5 million、tenant recoveries $13.3 million，合计 $262.6 million，分部经营利润 $33.4 million；Data Center Hosting 营收 $37.8 million 与去年 $37.9 million 基本持平，分部经营利润 $13.3 million。GAAP 层面仍录得净亏损，主因是 stock-based compensation $59.4 million、interest expense $77.4 million（同比 +866%）、derivatives 公允价值损失 $49.5 million 及 investment 公允价值损失 $11.4 million；剔除 ChronoScale 后，Adjusted revenue $300.4 million、Adjusted net loss 仅 $4.1 million、Adjusted EBITDA $64.4 million，Net Operating Income $58.8 million（margin 89%），显示核心租赁业务已接近盈亏平衡。
管理层强调以 tier-one investment grade hyperscaler 的长期合约为核心：截至 2026 年 8 月 31 日，五个园区合计约 1.41 GW 租约，初始 base term 合约收入约 $36 billion，全部续约行使则约 $86 billion。季内完成 $1.59 billion 7.000% Senior Secured Notes due 2031 发行并偿还 $300 million bridge facility；季末现金及受限现金 $3.7 billion、债务 $6.4 billion。季后续 Polaris Forge 1 第二期 75 MW 交付使 campus 达 250 MW，并锁定芬兰约 1 GW 潜在电力、与 Base Electron 签署约 1,200 MW 天然气发电购电协议。本次披露未提供前瞻财务指引，也未宣布普通股分红或回购授权。