Calendar 2023 year-end EBITDA run rate
Company: Applied Digital
What the later record shows
The date slipped · new target May 31, 2024
In January 2024 the company said component delays had significantly hurt EBITDA, and it moved the run-rate target to the end of fiscal 2024 (May 31, 2024) at about $250M. Fiscal Q4 2024 adjusted EBITDA was only $4.8M, far below a $200M+ annualized rate.
“While the delay in network components did have a significant impact on the timing of commissioning clusters and on our revenue and EBITDA”
2024-01-16 · Earnings Release View cached copy (2026-10-08)Live source ↗Archive.org ↗
“We now expect to exit fiscal year 2024 at an annual revenue run rate of approximately $500 million and an annualized adjusted EBITDA run rate of approximately $250 million.”
2024-01-16 · Earnings Release View cached copy (2026-10-08)Live source ↗Archive.org ↗
“$15.5 million of expenses associated with facilities and equipment that were not yet generating revenue Fiscal fourth quarter 2024 adjusted EBITDA of $4.8 million”
2024-08-28 · Earnings Release View cached copy (2026-10-08)Live source ↗Archive.org ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Expected to exit calendar 2023 at EBITDA run rate over $200 million
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “exiting calendar 2023 at an over $200 million EBITDA run rate”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release states the expectation of exiting calendar 2023 at an over $200 million EBITDA run rate.
Confirmed in the source:
- The company expects to exit calendar 2023 at an EBITDA run rate of over $200 million
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/10/applied-blockchain-reports-fiscal-third-quarter-2022-ended/) in full (19,855 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “exiting calendar 2023 at an over $200 million EBITDA run rate”
confirms Earnings Release
Quote: “exiting calendar 2023 at an over $200 million EBITDA run rate”
delays Earnings Release
Quote: “$15.5 million of expenses associated with facilities and equipment that were not yet generating revenue Fiscal fourth quarter 2024 adjusted EBITDA of $4.8 million”
delays Earnings Release
Quote: “While the delay in network components did have a significant impact on the timing of commissioning clusters and on our revenue and EBITDA”