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Applied Digital Corp.

APLD Clue Score50
United States Fiscal year ends May CIK 0001144879
$23.68 -0.71% Close, 9 Oct 2026
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Price $23.68 +761.09% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue0.0Operating income−0.3Net income−0.6EPS, diluted−0.38Fiscal year 2022Revenue8.5Operating income−20.9Net income−23.5EPS, diluted−0.41Fiscal year 2023Revenue55.4 +547.9%Operating income−42.9Net income−44.6EPS, diluted−0.47Fiscal year 2024Revenue136.6 +146.6%Operating income−98.3Net income−149.3EPS, diluted−1.31Fiscal year 2025Revenue144.2 +5.5%Operating income−72.2EPS, diluted−1.16Fiscal year 2026Revenue611.3 +324.0%Operating income−236.5EPS, diluted−0.91
FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 0.0 8.5 55.4 136.6 144.2 611.3
Growth +547.9% +146.6% +5.5% +324.0%
Operating income −0.3 −20.9 −42.9 −98.3 −72.2 −236.5
Net income −0.6 −23.5 −44.6 −149.3 n/a n/a
Growth
EPS, diluted −0.38 −0.41 −0.47 −1.31 −1.16 −0.91

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Fiscal year 2022Gross margin−11.2%Operating margin−244.4%Net margin−275.1%Free cash flow margin−691.6%Fiscal year 2023Gross margin19.9%Operating margin−77.5%Net margin−80.6%Free cash flow margin−131.0%Fiscal year 2024Operating margin−72.0%Net margin−109.3%Free cash flow margin−93.7%Fiscal year 2025Operating margin−50.1%Free cash flow margin−552.7%Fiscal year 2026Operating margin−38.7%Free cash flow margin−454.1%
FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin n/a −11.2% 19.9% n/a n/a n/a
Operating margin n/a −244.4% −77.5% −72.0% −50.1% −38.7%
Net margin n/a −275.1% −80.6% −109.3% n/a n/a
Free cash flow margin n/a −691.6% −131.0% −93.7% −552.7% −454.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow−0.1Capital expenditure−0.0Free cash flow−0.1Fiscal year 2022Operating cash flow−0.9Capital expenditure−58.3Free cash flow−59.1Fiscal year 2023Operating cash flow58.7Capital expenditure−131.3Free cash flow−72.5Buybacks0.0Fiscal year 2024Operating cash flow13.8Capital expenditure−141.8Free cash flow−128.0Buybacks0.0Fiscal year 2025Operating cash flow−115.4Capital expenditure−681.6Free cash flow−797.0Buybacks−31.3Fiscal year 2026Operating cash flow89.7Capital expenditure−2,865.8Free cash flow−2,776.1Buybacks0.0
FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow −0.1 −0.9 58.7 13.8 −115.4 89.7
Capital expenditure −0.0 −58.3 −131.3 −141.8 −681.6 −2,865.8
Free cash flow −0.1 −59.1 −72.5 −128.0 −797.0 −2,776.1
Growth
Buybacks n/a n/a 0.0 0.0 −31.3 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash11.8Shareholders’ equity−2.6Fiscal year 2022Cash38.8Total debt7.2Net cash (debt)31.6Shareholders’ equity72.3Debt to equity0.10Fiscal year 2023Cash29.0Shareholders’ equity59.5Fiscal year 2024Cash3.3Shareholders’ equity124.8Fiscal year 2025Cash44.0Shareholders’ equity497.7Fiscal year 2026Cash1,592.0Shareholders’ equity1,717.5
FY2021FY2022FY2023FY2024FY2025FY2026
Cash 11.8 38.8 29.0 3.3 44.0 1,592.0
Total debt n/a 7.2 n/a n/a n/a n/a
Net cash (debt) n/a 31.6 n/a n/a n/a n/a
Shareholders’ equity −2.6 72.3 59.5 124.8 497.7 1,717.5
Debt to equity n/a 0.10 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending May, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 May 2021 FY2022 31 May 2022 FY2023 31 May 2023 FY2024 31 May 2024 FY2025 31 May 2025 FY2026 31 May 2026
Margins
n/a −11.2% 19.9% n/a n/a n/a
n/a −244.4% −77.5% −72.0% −50.1% −38.7%
n/a −256.7% −81.3% −109.5% −160.2% −29.7%
n/a −275.1% −80.6% −109.3% n/a n/a
n/a −691.6% −131.0% −93.7% −552.7% −454.1%
Spending
n/a 233.3% 97.3% 71.6% 74.8% 54.3%
n/a 681.4% 237.0% 103.8% 472.7% 468.8%
Returns
n/a −32.5% −75.0% −119.6% n/a n/a
−3.8% −19.6% −16.9% −19.6% n/a n/a
Balance and payout
n/a 0.10 n/a n/a n/a n/a
16.6% 34.0% 73.6% 83.6% 66.1% 62.3%