Applied Digital Corporation · NASDAQ:APLD
Applied Digital — Investor Day (October 2023)
12 slides from Applied Digital's investor day presentation, Oct 12, 2023
Slide 1: CFO Summary Investor Day | October 12, 2023
Applied Digital CFO Summary Investor Day | October 12, 2023
Slide 2: Disclaimer and Forward-Looking Statements
Applied Digital This presentation has been designed to provide general information about Applied Digital Corporation (“Applied Digital” or the “Company”). Any information contained or referenced herein is suitable only as an introduction to the Company. The information contained in this presentation
Slide 3: Business Overview
Applied Digital Business Overview Offering Industry Leading Infrastructure Solutions and Compute Intensive Applications 3 AI BASED CLOUD SERVICES NEXT GENERATION HPC DATACENTERS BLOCKCHAIN DATACENTERS Rent AI/ML companies access to cloud servers to train and run applications Provide hosting infrastr
Slide 4: Organizational Chart
Applied Digital Organizational Chart Real Estate (12) Operations (103) Wes Cummins Chief Executive Officer Accounting (7) HR (6) EH&S (3) Finance (3) Technology (22) David Rench Chief Financial Officer Mike Maniscalco Chief Technology Officer Jason Zhang Co-Founder/Consultant 4
Slide 5: Financial Overview At A Glance
Applied Digital 5 -$4.0 -$2.0 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 Revenue Adj. EBITDA Financial Overview At A Glance Revenue and Adjusted EBITDA Historicals* *Reconciliation of the GAAP and non-GAAP measure is pr
Slide 6: Blockchain Colocation Datacenters
Applied Digital Blockchain Colocation Datacenters 6 No new capacity being added, financed with site level mortgages 480 MW - $100MM Segment EBITDA* Capacity Segment EBITDA Use of Cash Flow 480 MW Across All Three Sites in ND, TX $100MM Across All Three Sites in ND, TX Funding Development of our Grow
Slide 7: Sai Computing Overview
Applied Digital Sai Computing Overview 7 Key Performance Indicators: GPUs deployed and ACV Segment Economics Anticipated 40% Non-GAAP Segment Operating Margins at scale. Target and Estimated ~2 Year Cluster Payback 6 Year Useful Life. Estimated ~$18MM of annualized revenue on a reserve cluster of 10
Slide 8: HPC Hosting
Applied Digital HPC Hosting 8 Key Performance Indicators & Next Steps: Segment Economics How Do We Finance and Cost to Build? MWs Energized and signing of an investment grade tenant for a majority of the capacity. We have ~300MW to develop between North Dakota and Utah Traditional datacenter Economi
Slide 9: Building Blocks (Illustrative Economics)
Applied Digital Building Blocks (Illustrative Economics) 9 PER 1 MW MW (Per Annum) REVENUE ~$ 625K Segment EBITDA* ~$ 208K MW (Per Annum) REVENUE ~$ 2 MM Segment EBITDA* $ 900K - 1MM PER 1 MW BTC Colocation HPC PER 1.5 MW 1,024 GPUs = 1.5 MW REVENUE $ 18 MM Per Annum Segment Operating Margin* 40% at
Slide 10: Thank You For Joining
Applied Digital Thank You For Joining
Slide 11: EBITDA and Adjusted EBITDA Definitions
Applied Digital “EBITDA” is defined as earnings before interest, taxes, and depreciation and amortization. “Adjusted EBITDA” is defined as EBITDA adjusted for stock-based compensation, gain on extinguishment of accounts payable, loss on extinguishment of debt, and onetime professional service costs
Slide 12: Reconciliation of GAAP to Non-GAAP for Historical Adjusted EBITDA
Applied Digital Reconciliation of GAAP to Non GAAP for Historical Adjusted EBITDA EBITDA and Adjusted EBITDA ($ in thousands) 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q23 Net Loss (GAAP) $ (2,397) $ (4,643) $ (4,531) $ (26,750) $ (7,341) $ (6,856) ($11,457) Add: Interest Expense - 112 356 385 384 855 2,074 Ad