GeoPark Updates Reporting Date for Second Quarter Results and Conference Call Details
Reporting Date for 2Q2025 Results Release, Conference Call and Webcast
GeoPark will report its 2Q2025 financial results on Tuesday, August 5, 2025, after market close.
GeoPark management will host a conference call on Wednesday, August 6, 2025, at 10:00 am (Eastern Daylight Time) to discuss the 2Q2025 financial results.
To listen to the call, participants can access the webcast located in the Invest with Us section of the Company's website at www.geo-park.com, or by clicking below:
https://events.q4inc.com/attendee/211725993
Interested parties can join the conference call by using the following dial-in information:
United States Participants: +1 404-975-4839Global Dial-In Numbers:https://www.netroadshow.com/events/global-numbers?confId=72342 Passcode: 553033
Please allow extra time prior to the call to visit the website and download any streaming media software that might be required to listen to the webcast.
An archive of the webcast replay will be made available in the Invest with Us section of the Company's website at www.geo-park.com after the conclusion of the live call.
NOTICE
Additional information about GeoPark can be found in the "Invest with Us" section on the website at www.geo-park.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250729055566/en/
Contacts
For further information, please contact: INVESTORS: Maria Catalina Escobar Shareholder Value and Capital Markets Directormescobar@geo-park.com
Miguel Bello Investor Relations Officermbello@geo-park.com
Maria Alejandra Velez Investor Relations Leadermvelez@geo-park.com
MEDIA: Communications Departmentcommunications@geo-park.com
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An operator will register your name and organization. If you have difficulty connecting with the conference call, please get in touch with Applied Digital's investor relations team at 1-949-574-3860. A phone replay of the call will also be available from 8:00 p.m. Eastern Time on July 30, 2025, through August 7, 2025, at 11:59 p.m. Eastern Time. Replay Dial-In: 1-888-660-6264 Playback Passcode: 67205# About Applied Digital Applied Digital Corporation (Nasdaq: APLD) designs, develops, and operates next-generation digital infrastructure across North America to provide digital infrastructure solutions and cloud services to the rapidly growing industries of High-Performance Compute ("HPC") and Artificial Intelligence ("AI"). Find more information at Follow us on X (formerly Twitter) at @APLDdigital. Forward-Looking Statements This press release contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives and the closing of the transaction described herein. These statements use words, and variations of words, such as 'will,' 'continue,' 'build,' 'future,' 'increase,' 'drive,' 'believe,' 'look,' 'ahead,' 'confident,' 'deliver,' 'outlook,' 'expect,' 'project' and 'predict.' Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding the datacenter leases and the Polaris Forge 1 campus development, including statements regarding expected timeline of operating readiness and construction completion with respect to various Polaris Forge 1 facilities, (ii) statements about the high performance compute industry, (iii) statements of Company plans and objectives, including our evolving business model, or estimates or predictions of actions by suppliers, (iv) statements of future economic performance, (v) statements of assumptions underlying other statements and statements about the Company or its business and (vi) the Company's plans to obtain future financing. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. These risks, uncertainties, and other factors include: our ability to complete construction of the Polaris Forge 1 HPC data centers; our ability to finalize and execute the new, third lease with CoreWeave pursuant to its option exercise; our ability to raise additional capital to fund the ongoing data center construction and operations; our dependence on principal customers, including our ability to execute leases with key customers, including leases for our Polaris Forge 1 campus; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; and maintenance of third party relationships. 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13,633 5,283 Current portion of debt 10,331 10,082 Current portion of debt, at fair value — 35,836 Customer deposits 16,125 13,819 Related party customer deposits — 1,549 Deferred revenue — 6,496 Related party deferred revenue — 1,692 Due to customer 4,807 13,002 Other current liabilities 19,432 96 Total current liabilities 558,144 554,112 Long-term portion of operating lease liability 381 1,072 Long-term portion of finance lease liability 15 3,381 Long-term debt 677,825 79,472 Total liabilities 1,236,365 638,037 Commitments and contingencies Temporary equity Series E preferred stock, 0.001 par value, 2,000,000 shares authorized, 301,673 shares issued and outstanding at May 31, 2025, and no shares authorized, issued or outstanding at May 31, 2024 6,932 — Series E-1 preferred stock, $0.001 par value, 62,500 shares authorized, 62,500 shares issued and 62,485 shares outstanding at May 31, 2025, and no shares authorized, issued or outstanding at May 31, 2024 57,011 — Series G preferred stock, 0.001 par value, 156,000 shares authorized, 78,000 shares issued and outstanding at May 31, 2025, and 0 shares authorized, issued or outstanding at May 31, 2024 72,094 — Stockholders' equity: Common stock, $0.001 par value, 400,000,000 shares authorized, 234,200,868 shares issued and shares outstanding at May 31, 2025, and 144,083,944 shares issued and 139,051,142 shares outstanding at May 31, 2024 230 144 Treasury stock, 9,291,199 shares at May 31, 2025 and 5,032,802 shares at May 31, 2024, at cost (31,400 ) (62 ) Additional paid in capital 1,009,913 374,738 Accumulated deficit (481,055 ) (249,990 ) Total stockholders' equity attributable to Applied Digital Corporation 497,688 124,830 TOTAL LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS' EQUITY $ 1,870,090 762,867 APPLIED DIGITAL CORPORATION AND SUBSIDIARIESConsolidated Statements of Operations (In thousands, except per share data) Three Months Ended Fiscal Year Ended May 31, 2025 May 31, 2024 May 31, 2025 May 31, 2024 Revenue: Revenue $ 38,013 $ 23,020 $ 142,267 $ 121,857 Related party revenue — 3,878 1,926 14,761 Total revenue 38,013 26,898 144,193 136,618 Costs and expenses: Cost of revenues 30,247 22,776 101,451 106,653 Selling, general and administrative (1) 28,096 13,079 83,065 45,020 (Gain) loss on classification as held for sale (2) — (6,306 ) (24,616 ) 15,417 Loss on abandonment of assets 369 — 1,138 — Loss from legal settlement — — — 2,380 Total costs and expenses 58,712 29,549 161,038 169,470 Operating loss (20,699 ) (2,651 ) (16,845 ) (32,852 ) Interest expense, net (3) 4,497 13,814 14,739 17,708 Loss on conversion of debt — — 33,612 — Loss on change in fair value of debt — 4,789 85,439 7,401 Loss on change in fair value of related party debt — 8,116 — 8,116 Loss on extinguishment of debt — — 1,177 — Loss on extinguishment of related party debt — 154 — 2,507 Loss on change in fair value of warrants — — 6,421 — Loss on change in fair value of related party warrants — 5,696 — 5,696 Net loss before income tax expenses (25,196 ) (35,220 ) (158,233 ) (74,280 ) Income tax expense (benefit) (16 ) 96 102 96 Net loss from continuing operations (25,180 ) (35,316 ) (158,335 ) (74,376 ) Net loss from discontinued operations (27,357 ) (29,441 ) (72,730 ) (75,295 ) Net loss (52,537 ) (64,757 ) (231,065 ) (149,671 ) Net loss attributable to noncontrolling interest — — — (397 ) Preferred dividends (1,402 ) — (2,615 ) — Net loss attributable to common stockholders $ (53,939 ) $ (64,757 ) $ (233,680 ) $ (149,274 ) Net loss attributable to common stockholders Continuing operations $ (26,582 ) $ (35,316 ) $ (160,950 ) $ (73,979 ) Discontinued operations (27,357 ) (29,441 ) (72,730 ) (75,295 ) Net loss $ (53,939 ) $ (64,757 ) $ (233,680 ) $ (149,274 ) Basic and diluted net loss per share attributable to common stockholders Continuing operations $ (0.12 ) $ (0.28 ) $ (0.80 ) $ (0.65 ) Discontinued operations (0.12 ) (0.24 ) (0.36 ) (0.66 ) Basic and diluted net loss per share $ (0.24 ) $ (0.52 ) $ (1.16 ) $ (1.31 ) Basic and diluted weighted average number of shares outstanding 224,306,661 124,666,579 201,194,451 114,061,414 (1) Includes related party selling, general and administrative expense of $0.1 million and $0.1 million for the three months ended May 31, 2025 and May 31, 2024, respectively, and $0.3 million and $0.6 million for the fiscal year ended May 31, 2025 and May 31, 2024, respectively. (2) Includes $25 million received in connection with the sale of our Garden City facility once conditional approval requirements were met and escrowed funds were released during the fiscal year ended May 31, 2025. The fiscal year ended May 31, 2024 includes $21.7 million loss on held for sale classification related to the sale of the Garden City facility. (3) For the three months ended and fiscal year ended May 31, 2024, amounts include related party interest expense of $5.2 million and $5.7 million, respectively. APPLIED DIGITAL CORPORATION AND SUBSIDIARIESConsolidated Statements of Cash Flows (In thousands) Fiscal Year Ended May 31, 2025 May 31, 2024 CASH FLOW FROM OPERATING ACTIVITIES Net loss $ (231,065 ) $ (149,671 ) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Depreciation and amortization 97,945 79,360 Stock-based compensation 22,704 17,362 Lease expense 31,661 13,944 Loss on extinguishment of debt 1,177 — Loss on extinguishment of related party debt — 2,507 Loss on legal settlement — 2,380 Amortization of debt issuance costs 9,563 5,214 (Gain) loss on classification of held for sale (24,616 ) 15,417 Loss on conversion of debt 33,612 — Loss on change in fair value of debt 85,439 7,401 Loss on change in fair value of related party debt — 13,812 Loss on change in fair value of warrants issued 6,421 — Loss on abandonment of assets 1,138 — Changes in operating assets and liabilities: Accounts receivable (2,934 ) (3,765 ) Prepaid expenses and other current assets (8,309 ) 899 Other assets 2,979 327 Customer deposits 2,306 (8,770 ) Related party customer deposits (1,549 ) (2,261 ) Deferred revenue (34,080 ) (9,494 ) Related party deferred revenue (1,692 ) 168 Accounts payable (78,256 ) 41,840 Accrued liabilities (12,127 ) 21,601 Due to customer (8,195 ) 13,002 Lease assets and liabilities (7,524 ) (47,479 ) CASH FLOW (USED IN) PROVIDED BY OPERATING ACTIVITIES (115,402 ) 13,794 CASH FLOW FROM INVESTING ACTIVITIES Purchases of property and equipment and other assets (681,603 ) (141,809 ) Proceeds from sale of assets 25,000 19,852 Finance lease prepayments (6,178 ) (50,089 ) Purchases of investments (4,873 ) (391 ) CASH FLOW USED IN INVESTING ACTIVITIES (667,654 ) (172,437 ) CASH FLOW FROM FINANCING ACTIVITIES Repayment of finance leases (125,073 ) (59,967 ) Borrowings of long-term debt 650,083 116,554 Borrowings of related party debt — 28,000 Repayment of long-term debt (293,045 ) (21,714 ) Repayment of related party debt — (45,500 ) Payment of deferred financing costs (42,398 ) (320 ) Tax payments for restricted stock upon vesting (4,116 ) (861 ) Proceeds from issuance of common stock 191,590 130,849 Common stock issuance costs (10,305 ) (284 ) Proceeds from issuance of preferred stock 198,205 — Preferred stock issuance costs (13,812 ) — Dividends issued on preferred stock (2,615 ) — Proceeds from issuance of SAFE agreement included in long-term debt 12,000 — Repurchase of shares (31,342 ) — Proceeds from convertible notes 450,000 — Purchase of capped call options (51,750 ) — Purchase of prepaid forward contract (52,736 ) — CASH FLOW PROVIDED BY FINANCING ACTIVITIES 874,686 146,757 NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 91,630 (11,886 ) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD, INCLUDING CASH FROM DISCONTINUED OPERATIONS 31,688 43,574 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD, INCLUDING CASH FROM DISCONTINUED OPERATIONS 123,318 31,688 Less: CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FROM DISCONTINUED OPERATIONS 2,398 — CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FROM CONTINUING OPERATIONS $ 120,920 $ 31,688 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Interest paid $ 62,712 $ 17,782 Income taxes paid $ 105 $ 5 SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES Operating right-of-use assets obtained by lease obligation $ 20,280 $ 159,153 Finance right-of-use assets obtained by lease obligation $ 113,674 $ 227,047 Property and equipment in accounts payable and accrued liabilities $ 246,472 $ 85,019 Extinguishment of non-controlling interest $ — $ 9,765 Conversion of debt to common stock $ 104,945 $ 52,060 Conversion of preferred stock to common stock $ 48,350 $ — Loss on legal settlement $ — $ 2,380 Issuance of warrants, at fair value $ 136,292 $ 5,696 Conversion of warrants $ 5 $ — APPLIED DIGITAL CORPORATION AND SUBSIDIARIESReconciliation of GAAP to Non-GAAP Measures (Unaudited)(In thousands, except percentage data) Three Months Ended Fiscal Year Ended May 31, 2025 May 31, 2024 May 31, 2025 May 31, 2024 Adjusted operating income (loss) Operating loss (GAAP) $ (20,699 ) $ (2,651 ) $ (16,845 ) $ (32,852 ) Stock-based compensation 11,558 1,803 22,492 6,973 Non-recurring repair expenses (1) — 645 173 1,224 Diligence, acquisition, disposition and integration expenses (2) 4,908 1,726 17,269 5,545 Litigation expenses (3) 48 929 1,389 1,589 Loss on abandonment of assets 369 — 1,138 — (Gain) loss on classification as held for sale — (6,306 ) (24,616 ) 15,417 Accelerated depreciation and amortization (4) — 88 45 4,307 Loss on legal settlement — — — 2,380 Restructuring expenses (5) 668 — 711 — Other non-recurring expenses (6) 69 45 627 169 Adjusted operating (loss) income (Non-GAAP) $ (3,079 ) $ (3,721 ) $ 2,383 $ 4,752 Adjusted operating margin (8 )% (14 )% 2 % 3 % Adjusted net loss from continuing operations attributable to common stockholders Net loss from continuing operations attributable to common stockholders (GAAP) $ (26,582 ) $ (35,316 ) $ (160,950 ) $ (73,979 ) Stock-based compensation 11,558 1,803 22,492 6,973 Non-recurring repair expenses (1) — 645 173 1,224 Diligence, acquisition, disposition and integration expenses (2) 4,908 1,726 17,269 5,545 Litigation expenses (3) 48 929 1,389 1,589 Loss on abandonment of assets 369 — 1,138 — (Gain) loss on classification as held for sale — (6,306 ) (24,616 ) 15,417 Accelerated depreciation and amortization (4) — 88 45 4,307 Loss on conversion of debt — — 33,612 — Loss on change in fair value of debt — 4,789 85,439 7,401 Loss on change in fair value of related party debt — 8,116 — 8,116 Loss on change in fair value of warrants — — 6,421 — Loss on change in fair value of warrants issued to related parties — 5,696 — 5,696 Loss on extinguishment of debt — — 1,177 — Loss on extinguishment of related party debt — 154 — 2,507 Loss on legal settlement — — — 2,380 Preferred dividends 1,402 — 2,615 — Restructuring expenses (5) 668 — 711 — Other non-recurring expenses (6) 69 45 627 169 Adjusted net loss from continuing operations attributable to common stockholders (Non-GAAP) $ (7,560 ) $ (17,631 ) $ (12,458 ) $ (12,655 ) Adjusted net loss from continuing operations attributable to common stockholders per diluted share (Non-GAAP) $ (0.03 ) $ (0.14 ) $ (0.06 ) $ (0.11 ) EBITDA and Adjusted EBITDA Net loss from continuing operations attributable to common stockholders (GAAP) $ (26,582 ) $ (35,316 ) $ (160,950 ) $ (73,979 ) Interest expense, net 4,497 13,814 14,739 17,708 Income tax expense (benefit) (16 ) 96 102 96 Depreciation and amortization (4) 4,059 3,636 17,289 21,477 EBITDA (Non-GAAP) $ (18,042 ) $ (17,770 ) $ (128,820 ) $ (34,698 ) Stock-based compensation 11,558 1,803 22,492 6,973 Non-recurring repair expenses (1) — 645 173 1,224 Diligence, acquisition, disposition and integration expenses (2) 4,908 1,726 17,269 5,545 Litigation expenses (3) 48 929 1,389 1,589 (Gain) loss on classification as held for sale — (6,306 ) (24,616 ) 15,417 Loss on abandonment of assets 369 — 1,138 — Loss on conversion of debt — — 33,612 — Loss on change in fair value of debt — 4,789 85,439 7,401 Loss on change in fair value of related party debt — 8,116 — 8,116 Loss on change in fair value of warrants — — 6,421 — Loss on change in fair value of warrants issued to related parties — 5,696 — 5,696 Loss on extinguishment of debt — — 1,177 — Loss on extinguishment of related party debt — 154 — 2,507 Loss on legal settlement — — — 2,380 Preferred dividends 1,402 — 2,615 — Restructuring expenses (5) 668 — 711 — Other non-recurring expenses (6) 69 45 627 169 Adjusted EBITDA (Non-GAAP) $ 980 $ (173 ) $ 19,627 $ 22,319 (1) Represents costs incurred in the repair and replacement of equipment at Ellendale Data Center Hosting facility as a result of the previously disclosed power outage. (2) Represents legal, accounting and consulting costs incurred in association with certain discrete transactions and projects. (3) Represents non-recurring litigation expense associated with our defense of class action lawsuits and legal fees related to matters with certain former employees. We do not expect to incur these expenses on a regular basis. (4) Represents the acceleration of expense related to assets that were abandoned by us due to operational failure or other reasons. Depreciation and amortization in this amount is included in Depreciation and Amortization expense within our calculation of EBITDA, and therefore is not added back as a management adjustment in our calculation of Adjusted EBITDA. (5) Represents non-recurring expenses associated with employee separations. (6) Represents expenses that are not representative of our expected ongoing while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
