APLD · Applied Digital Corp. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $126.64M | $126.59M | $64.22M | $63.87M | $52.92M | $60.70M | $42.20M | $43.35M | $36.32M | $0 |
| Cost of Revenue | $72.83M | $100.55M | $55.61M | $52.36M | $49.14M | $61.06M | $29.22M | $47.06M | $24.40M | $0 |
| Gross Profit | $53.80M | $26.04M | $8.61M | $11.51M | $3.78M | ($356.0K) | $12.98M | ($3.71M) | $11.93M | $528.0K |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $79.72M | $56.99M | $29.15M | $29.79M | $22.72M | $14.34M | $21.07M | $30.39M | $17.05M | $26.50M |
| Total Operating Expenses | $212.30M | $157.55M | $86.51M | $82.48M | $71.86M | $51.22M | $50.38M | $99.17M | $41.45M | $1.35M |
| D&A | $20.81M | $8.59M | $4.15M | $26.45M | $18.78M | $34.36M | $1.57M | $26.20M | $7.86M | $200.0K |
| Operating Income | ($85.67M) | ($30.96M) | ($22.29M) | ($18.61M) | ($18.94M) | $9.48M | ($8.17M) | ($55.82M) | ($5.13M) | ($1.35M) |
| Interest Expense | ($2.39M) | $11.48M | $3.95M | $2.62M | $4.77M | $7.31M | $2.35M | $4.40M | $2.07M | $0 |
| Income Tax | ($2.0K) | $15.0K | $8.0K | $1.0K | $117.0K | $0 | $0 | $0 | $0 | $214.0K |
| Net Income | ($100.86M) | ($14.45M) | ($16.93M) | ($10.53M) | ($62.84M) | ($11.46M) | ($10.53M) | ($62.84M) | ($11.46M) | ($26.62M) |
| EPS - Basic | ($0.36) | ($0.07) | ($0.07) | ($0.66) | ($0.16) | ($0.03) | ($0.10) | ($0.52) | ($0.12) | $0.00 |
| EPS - Diluted | ($0.36) | ($0.07) | ($0.07) | ($0.66) | ($0.16) | ($0.03) | ($0.10) | ($0.52) | ($0.12) | $0.00 |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.73B | $1.91B | $73.91M | $41.55M | $68.74M | $58.22M | $3.34M | $4.43M | $5.94M | $29.00M |
| Accounts Receivable | $20.75M | $13.35M | $29.13M | $3.04M | $14.62M | $2.30M | $3.85M | $225.0K | $27.0K | $82.0K |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $377.43M | $92.91M | $172.82M | $247.53M | $170.52M | $140.26M | $116.12M | $93.92M | $16.23M | - |
| Current Assets | $2.43B | $2.72B | $641.74M | $430.59M | $274.26M | $84.11M | $30.26M | $105.70M | $33.55M | $45.76M |
| Total Assets | $6.25B | $5.23B | $2.40B | $1.87B | $1.71B | $937.73M | $762.87M | $643.17M | $349.15M | $263.96M |
| Current Liabilities | $1.02B | $563.40M | $985.49M | $558.14M | $393.58M | $386.67M | $385.54M | $349.16M | $151.68M | $115.46M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $3.68B | $3.16B | $1.29B | $1.24B | $1.21B | $640.60M | $638.04M | $524.68M | $221.21M | $194.28M |
| Stockholders' Equity | $1.58B | $1.45B | $1.04B | $497.69M | $454.65M | $241.85M | $124.83M | $118.49M | $127.95M | $59.52M |
| Retained Earnings | ($583.06M) | ($512.38M) | ($497.98M) | ($481.06M) | ($428.52M) | ($254.28M) | ($249.99M) | ($185.54M) | ($112.17M) | ($100.72M) |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($82.02M) | - | - | ($75.89M) | - | - | $4.52M | - |
| Investing Cash Flow | - | - | ($249.42M) | - | - | ($32.61M) | - | - | ($40.54M) | - |
| Financing Cash Flow | - | - | $322.24M | - | - | $163.37M | - | - | $23.66M | - |
| CapEx | - | - | $249.42M | - | - | $54.80M | - | - | $75.66M | - |
| Free Cash Flow | - | - | ($331.44M) | - | - | ($130.69M) | - | - | ($71.14M) | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 42.5% | 20.6% | 13.4% | 18.0% | 7.1% | -0.6% | 30.8% | -8.6% | 32.8% | - |
| Operating margin | -67.6% | -24.5% | -34.7% | -29.1% | -35.8% | 15.6% | -19.4% | -128.8% | -14.1% | - |
| EBITDA margin | -51.2% | -17.7% | -28.2% | 12.3% | -0.3% | 72.2% | -15.7% | -68.3% | 7.5% | - |
| Net margin | -79.6% | -11.4% | -26.4% | -16.5% | -118.7% | -18.9% | -24.9% | -145.0% | -31.5% | - |
| Free cash flow margin | - | - | -516.1% | - | - | -215.3% | - | - | -195.9% | - |
| FCF / Net income | - | - | 19.58 | - | - | 11.41 | - | - | 6.21 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 63.0% | 45.0% | 45.4% | 46.6% | 42.9% | 23.6% | 49.9% | 70.1% | 46.9% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -1.6% | -0.3% | -0.7% | -0.6% | -3.7% | -1.2% | -1.4% | -9.8% | -3.3% | -10.1% |
| Return on equity | -6.4% | -1.0% | -1.6% | -2.1% | -13.8% | -4.7% | -8.4% | -53.0% | -9.0% | -44.7% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.38 | 4.82 | 0.65 | 0.77 | 0.70 | 0.22 | 0.08 | 0.30 | 0.22 | 0.40 |
| Quick ratio | 2.38 | 4.82 | 0.65 | 0.77 | 0.70 | 0.22 | 0.08 | 0.30 | 0.22 | 0.40 |
| Cash ratio | 1.70 | 3.40 | 0.07 | 0.07 | 0.17 | 0.15 | 0.01 | 0.01 | 0.04 | 0.25 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 35.9x | -2.7x | -5.6x | -7.1x | -4.0x | 1.3x | -3.5x | -12.7x | -2.5x | - |
| Equity multiplier | 3.95 | 3.61 | 2.30 | 3.76 | 3.76 | 3.88 | 6.11 | 5.43 | 2.73 | 4.43 |
| Liabilities / Assets | 0.59 | 0.60 | 0.54 | 0.66 | 0.71 | 0.68 | 0.84 | 0.82 | 0.63 | 0.74 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.06 | 0.06 | 0.07 | 0.10 | 0.00 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 60d | 38d | 166d | 17d | 101d | 14d | 33d | 2d | 0d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 1891d | 337d | 1134d | 1725d | 1267d | 838d | 1450d | 728d | 243d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 4.9x | 5.2x | 3.9x | 2.9x | 3.9x | 2.2x | 3.7x | 4.3x | 4.7x | 7.5x |
| P / S | 60.7x | 59.4x | 63.7x | 22.4x | 33.6x | 9.0x | 11.0x | 11.6x | 16.7x | - |
| EV / EBITDA | - | - | - | 177.5x | - | 11.1x | - | - | 220.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 139.3% | 98.2% | 5.8% | 51.3% | 22.1% | 67.1% | - | 207.7% | - | - |
| Revenue CAGR (3y) | 107.9% | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 1323.4% | 126.3% | - | -11.4% | - | - | 2358.5% | - | 1335.0% | - |
| Operating income growth (YoY) | -352.2% | -66.3% | - | -127.7% | 66.1% | - | -503.2% | -702.4% | -22.7% | - |
| Net income growth (YoY) | -60.5% | -37.2% | -47.7% | 0.0% | 0.0% | 0.0% | 60.4% | -794.5% | 18.7% | - |
| EPS growth (YoY) | -125.0% | 89.4% | -133.3% | -560.0% | 69.2% | 75.0% | - | -550.0% | -140.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -153.6% | - | - | -83.7% | - | - | -2836.1% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 247.8% | 191.3% | 331.8% | 298.7% | 283.7% | 89.0% | 109.7% | 94.7% | 87.3% | -17.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-31.
Business segments
$142.27M totalData Center Hosting Business$142.27M · 100.0%
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing Applied Digital Corp. against the 5 most active filers in the same SIC group.