# APLD Forecast-vs-Actual Independent Verification Report

Verification method: sampled ledger rows were checked against archived extracted text under `/home/dev/research_loop/runs/strategic25-apld-002/artifacts/source_text/`. The check is independent of the extractor because it reads already-emitted CSV rows and source text files, then tests whether row numeric tokens and key phrase fragments appear in the cited primary source text.

## Sample Results

| source_id | period | metric_name | raw_value | support | verification_note |
|---|---:|---|---:|---|---|
| APLD_SRC_02 | FY2025Q4 | planned_ready_for_service_capacity | 100 | pass | numeric_hits=1/1; phrase_hits=3/3; snippet_support_status=exact; caveat: Forecast timing for first AI/HPC building; compare with later RFS actuals. |
| APLD_SRC_06 | FY2026Q2 | ready_for_service_capacity | 100 | pass | numeric_hits=1/1; phrase_hits=3/3; snippet_support_status=exact; caveat: Actual delivery against the FY2025Q4 forecast for a first 100 MW facility in Q4 2025. |
| APLD_SRC_07 | FY2026Q2 | operating_hpc_capacity | 100 | pass | numeric_hits=1/1; phrase_hits=4/4; snippet_support_status=partial; caveat: Confirms operations commenced during the quarter; same building as RFS row. |
| APLD_SRC_04 | FY2026Q1 | possible_expansion_capacity | 1 | pass | numeric_hits=1/1; phrase_hits=5/5; snippet_support_status=partial; caveat: Normalized GW to MW; optional/potential only and should not be counted as contracted or delivered. |
| APLD_SRC_09 | FY2026Q3 | under_construction_capacity | 150+150 | pass | numeric_hits=2/2; phrase_hits=2/3; snippet_support_status=partial; caveat: Derived from two 150 MW buildings; still not operating. |
| APLD_SRC_10 | FY2026Q3 | contracted_revenue | 7.5 | pass | numeric_hits=1/1; phrase_hits=3/3; snippet_support_status=exact; caveat: Contract value, not revenue recognized or capex. |
| APLD_SRC_11 | FY2026Q4 | total_contracted_capacity | 1 | pass | numeric_hits=1/1; phrase_hits=3/3; snippet_support_status=partial; caveat: Raw source uses GW wording; normalized to MW. Contracted capacity, not delivered operating capacity. |

## Findings
- Rows sampled: 7
- Passed source-text numeric/phrase support: 7
- Review flags: 0
- Ambiguity retained intentionally: GW portfolio capacity is normalized to MW but caveated as contracted capacity, not live capacity; derived sums retain `is_derived=true` and `value_qualifier=derived_sum`.
- No sampled row used secondary-discovery evidence; all sampled URLs are Applied Digital primary IR releases or primary PDFs.