$1 billion annual NOI target
Company: Applied Digital
The claim, verbatim
Management expects to achieve a run rate of $1 billion in annual net operating income (base rent from leased campuses less property costs, taxes and insurance) one year from its July 2026 quarterly report
Source (primary)
Can Applied Digital Stock Recover On Leases It Has Already Signed? - Trefis (-, news_article)
View cached copy (2026-09-20)Live source ↗
Quote: “A year ago management set a goal of $1 billion in net operating income within five years. It now expects that run rate a year from its July report, three years early.”
How we checked this
Checked on September 25, 2026. The cited source supports every part of this claim.
The article gives both the NOI definition and the timing: a year from the July report.
Confirmed in the source:
- Management expects a $1 billion net operating income run rate one year from its July 2026 report on fiscal Q4 2026
- Net operating income here means base rent from the leased campuses less property costs, taxes and insurance
What we did: Read our cached copy of the publisher (https://www.trefis.com/stock/apld/articles/615734/can-applied-digital-stock-recover-on-leases-it-has-already-signed/2026-09-17) in full (11,286 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Can Applied Digital Stock Recover On Leases It Has Already Signed? - Trefis
Quote: “A year ago management set a goal of $1 billion in net operating income within five years. It now expects that run rate a year from its July report, three years early.”