Applied Digital Corporation (APLD) Income Statement
APLD FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsAPLD revenue and net income
Where APLD's revenue goes
FY2026Each bar shows an amount and its share of revenue. APLD kept −39.9% of revenue as net income.
APLD profit margins
APLD growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +167.5% | +122.6% | — | +68.5% |
| Gross profit | +1,235.2% | +142.9% | — | +66.7% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
APLD quarterly EPS vs estimates
Applied Digital beat the analyst EPS estimate in 6 of the last 8 quarters.
APLD income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $611.3M | $228.6M | $136.6M | $55.4M | $8.5M | $0 | $0 | $336,995 | $1.5M | $3.9M |
| Cost of revenue | $453.6M | $216.8M | $106.7M | $44.4M | $21.9M | $1,000 | — | $218,608 | $1.4M | $2.5M |
| Gross profit | $157.7M | $11.8M | $30.0M | $11.0M | −$13.3M | −$1,000 | — | $118,387 | $117,913 | $1.4M |
| Research & development | — | — | $169,000 | — | — | — | — | $284,722 | $130,234 | $1.1M |
| Sales, general & admin | $332.1M | $107.9M | $98.5M | $55.1M | $19.9M | $331,000 | $0 | $2.4M | $3.0M | $2.6M |
| Total operating expenses | $394.0M | $84.0M | $45.0M | $55.1M | $7.6M | $331,000 | −$263,000 | $2.8M | $3.2M | $3.6M |
| Operating income | −$236.4M | −$72.2M | −$15.1M | −$44.1M | −$20.9M | −$332,000 | −$263,000 | −$2.7M | −$3.1M | −$2.3M |
| Interest expense | $29.5M | $35.3M | $18.6M | $2.0M | $112,000 | $236,000 | $263,000 | $97,590 | $252,945 | $21,614 |
| Income before taxes | −$181.5M | −$231.0M | −$74.3M | −$46.1M | −$21.9M | −$568,000 | −$263,000 | −$3.3M | −$2.8M | −$2.2M |
| Income taxes | $1.8M | $102,000 | $96,000 | −$523,000 | $540,000 | $236,000 | −$469,297 | $7,143 | −$13,591 | $24,800 |
| Net income | −$244.0M | −$231.1M | −$149.3M | −$45.6M | −$23.5M | −$568,000 | −$263,000 | −$3.3M | −$2.8M | −$2.3M |
| EBITDA | −$84.6M | −$97.8M | $23.7M | −$36.8M | −$20.7M | −$331,000 | −$263,000 | −$3.2M | −$2.7M | −$2.1M |
| EPS (diluted) | −$0.40 | −$0.32 | −$0.91 | −$0.10 | −$0.60 | −$0.15 | −$0.86 | −$0.39 | −$0.86 | −$1.65 |
| Gross margin | 25.8% | 5.2% | 21.9% | 19.9% | −156.1% | — | — | 35.1% | 7.6% | 36.0% |
| Operating margin | −38.7% | −31.6% | −11.0% | −79.5% | −244.4% | — | — | −800.2% | −197.5% | −58.3% |
| Net margin | −39.9% | −101.1% | −109.3% | −82.3% | −275.1% | — | — | −975.2% | −180.3% | −58.3% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $341.9M | $258.7M | $126.6M | $126.6M | $64.2M | $51.1M | $52.9M | $63.9M | $60.7M | $14.7M | $43.3M | $42.2M |
| Cost of revenue | $289.6M | $218.2M | $72.8M | $100.6M | $55.6M | $54.2M | $49.1M | $52.4M | $61.1M | $6.0M | $47.1M | $29.2M |
| Gross profit | $52.3M | $40.5M | $53.8M | $26.0M | $8.6M | −$3.1M | $3.8M | $11.5M | −$356,000 | $8.8M | −$3.7M | $13.0M |
| Research & development | — | — | — | — | — | — | — | — | $36,000 | — | — | — |
| Sales, general & admin | $114.7M | $165.3M | $79.7M | $57.0M | $29.2M | $41.0M | $22.7M | $29.8M | $14.3M | $31.3M | $30.4M | $21.1M |
| Total operating expenses | $114.7M | $157.6M | $79.7M | $57.0M | $29.2M | $41.0M | $22.7M | $30.1M | −$9.8M | −$23.1M | $30.0M | $21.1M |
| Operating income | −$62.4M | −$117.0M | −$25.9M | −$31.0M | −$20.5M | −$44.1M | −$18.9M | −$18.6M | $9.5M | $31.9M | −$33.7M | −$8.1M |
| Interest income | — | — | $2.4M | — | — | — | — | — | — | — | — | — |
| Interest expense | $77.4M | $10.6M | $2.4M | $11.5M | $3.9M | $8.5M | $8.9M | $7.5M | $7.3M | $9.4M | $4.8M | $2.4M |
| Income before taxes | −$166.1M | −$79.6M | −$70.6M | −$26.5M | −$26.2M | −$52.6M | −$35.4M | −$138.7M | −$4.2M | $10.9M | −$62.8M | −$10.5M |
| Income taxes | $1.9M | $1.8M | −$2,000 | $15,000 | $8,000 | −$16,000 | $117,000 | $1,000 | $17.4M | $96,000 | — | −$13.4M |
| Net income | −$235.5M | −$110.0M | −$99.3M | −$17.5M | −$16.9M | −$52.5M | −$35.6M | −$138.7M | −$4.2M | −$64.5M | −$62.8M | −$10.5M |
| EBITDA | −$46.8M | −$83.2M | −$5.1M | −$6.5M | −$18.1M | −$25.7M | −$7.8M | −$104.8M | $37.4M | $86.8M | −$31.7M | $5.2M |
| EPS (diluted) | −$0.76 | −$0.39 | $0.09 | −$0.07 | −$0.03 | −$0.03 | −$0.08 | −$0.06 | −$0.15 | −$0.52 | −$0.24 | −$0.05 |
| Gross margin | 15.3% | 15.7% | 42.5% | 20.6% | 13.4% | −6.1% | 7.1% | 18.0% | −0.6% | 59.5% | −8.6% | 30.8% |
| Operating margin | −18.2% | −45.2% | −20.5% | −24.5% | −32.0% | −86.3% | −35.8% | −29.1% | 15.6% | 216.4% | −77.8% | −19.2% |
| Net margin | −68.9% | −42.5% | −78.4% | −13.8% | −26.4% | −102.9% | −67.2% | −217.2% | −7.0% | −437.1% | −145.0% | −24.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in APLD's financial statements (latest annual report filed July 29, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
APLD financial results
In fiscal year 2026 (ended May 31, 2026), Applied Digital reported revenue of $611.3 million, up 167.5% from the year before. It had a net loss of $244.0 million, a net profit margin of −39.9%. Diluted earnings per share came to −$0.40.
See the APLD stock overview for the latest quote and news, or the APLD chart for price history and technical indicators.
APLD income statement FAQ
What is Applied Digital's annual revenue?
Applied Digital reported total revenue of $611.3 million for fiscal year 2026, which ended on May 31, 2026. That was up 167.5% from $228.6 million the previous year.
Is Applied Digital profitable?
No. Applied Digital reported a net loss of $244.0 million in fiscal 2026, a net profit margin of −39.9%; its operating margin was −38.7%.
What is Applied Digital's gross margin?
Applied Digital's gross margin was 25.8% in fiscal 2026: for every $100 of revenue, Applied Digital kept $26 after the direct cost of its products and services.
What are Applied Digital's earnings per share?
Applied Digital earned $-0.40 per diluted share in fiscal 2026, compared with $-0.32 a year earlier.
When does Applied Digital's fiscal year end?
Applied Digital's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 29, 2026.