First facility customer concentration
Company: Applied Digital
The claim, verbatim
Five customers account for 100% of first facility revenue until second facility is operational
Source (primary)
Applied Digital 10-K filed 2022-08-29 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Together these customers will account for 100% of our co-hosting facility revenue until our second facility is constructed and operational.”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The document states these customers account for 100% of first facility revenue until the second facility is constructed and operational.
Confirmed in the source:
- five customers account for 100% of the first co-hosting facility revenue until the second facility is operational
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000162828022023816/apld-20220531.htm) in full (312,378 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-K filed 2022-08-29
Quote: “Together these customers will account for 100% of our co-hosting facility revenue until our second facility is constructed and operational.”