Applied Digital Corp. (APLD) Financial Statements (2026 and earlier)
Company Profile
| Business Address |
3811 TURTLE CREEK BLVD., SUITE 2100 DALLAS, TX 75219 |
| State of Incorp. | NV |
| Fiscal Year End | May 31 |
| Industry (SIC) | 7374 - Computer Processing and Data Preparation and Processing Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 11/30/2025 MRQ | 5/31/2025 | 11/30/2024 MRQ | 5/31/2024 | 5/31/2023 | 5/31/2022 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 41,552 | 286,237 | 3,339 | 28,999 | 38,798 | |||
| Cash and cash equivalent | 41,552 | 286,237 | 3,339 | 28,999 | 38,798 | |||
| Restricted cash and investments | 21,342 | 21,349 | 14,575 | |||||
| Receivables | 3,043 | 12,313 | 3,847 | 82 | 227 | |||
| Prepaid expense | ||||||||
| Disposal group, including discontinued operation | 304,200 | 384 | ||||||
| Deposits current assets | 1,450 | |||||||
| Other current assets | ||||||||
| Other undisclosed current assets | 81,798 | 8,496 | 1,343 | 2,103 | 8,837 | |||
| Total current assets: | 430,593 | 328,388 | 30,262 | 45,759 | 49,312 | |||
| Noncurrent Assets | ||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 17,820 | 261,452 | 218,683 | 14,303 | 5,298 | |||
| Operating lease, right-of-use asset | 960 | 140,583 | 153,611 | 1,290 | 1,110 | |||
| Property, plant and equipment | 1,275,841 | 772,664 | 340,381 | 195,593 | 64,260 | |||
| Restricted cash and investments | 7,000 | 7,000 | 7,000 | |||||
| Other undisclosed noncurrent assets | 137,876 | 33,082 | 12,930 | 7,012 | ||||
| Total noncurrent assets: | 1,439,497 | 1,214,781 | 732,605 | 218,198 | 70,668 | |||
| TOTAL ASSETS: | 1,870,090 | 1,543,169 | 762,867 | 263,957 | 119,980 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 277,077 | 223,642 | 142,399 | 14,776 | 13,244 | |||
| Accounts payable | 247,528 | 192,017 | 116,117 | |||||
| Accrued liabilities | 29,549 | 31,625 | 26,282 | 1,630 | ||||
| Other undisclosed accounts payable and accrued liabilities | 13,146 | 13,244 | ||||||
| Deferred revenue | 48,692 | 3,877 | ||||||
| Debt | 23,964 | 143,054 | 117,765 | 13,672 | 2,146 | |||
| Disposal group, including discontinued operation | 216,047 | |||||||
| Other liabilities | 19,432 | 96 | 96 | 16 | ||||
| Other undisclosed current liabilities | 21,624 | 57,561 | 125,277 | 38,320 | 9,715 | |||
| Total current liabilities: | 558,144 | 424,353 | 385,537 | 115,460 | 28,998 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 15 | 62,397 | 63,288 | 8,334 | 11,207 | |||
| Long-term debt, excluding current maturities | 5,897 | |||||||
| Finance lease, liability | 15 | 62,397 | 63,288 | 8,334 | 4,374 | |||
| Liabilities, other than long-term debt | 381 | 97,821 | 109,740 | 2,005 | 540 | |||
| Deferred income tax liabilities | 540 | |||||||
| Other liabilities | 1,000 | |||||||
| Operating lease, liability | 381 | 97,821 | 109,740 | 1,005 | 936 | |||
| Other undisclosed noncurrent liabilities | 677,825 | 468,244 | 79,472 | 68,479 | ||||
| Total noncurrent liabilities: | 678,221 | 628,462 | 252,500 | 78,818 | 11,747 | |||
| Total liabilities: | 1,236,365 | 1,052,815 | 638,037 | 194,278 | 40,745 | |||
| Temporary equity, including noncontrolling interest | ||||||||
| Equity | ||||||||
| Equity, attributable to parent | 497,688 | 434,572 | 124,830 | 59,517 | 72,259 | |||
| Common stock | 230 | 222 | 144 | 101 | 98 | |||
| Treasury stock, value | (31,400) | (31,400) | (62) | (62) | (62) | |||
| Additional paid in capital | 1,009,913 | 858,713 | 374,738 | 160,194 | 128,293 | |||
| Accumulated deficit | (481,055) | (392,963) | (249,990) | (100,716) | (56,070) | |||
| Equity, attributable to noncontrolling interest | 10,162 | 6,976 | ||||||
| Other undisclosed equity | ||||||||
| Total equity: | 497,688 | 434,572 | 124,830 | 69,679 | 79,235 | |||
| Other undisclosed liabilities and equity | 136,037 | 55,782 | ||||||
| TOTAL LIABILITIES AND EQUITY: | 1,870,090 | 1,543,169 | 762,867 | 263,957 | 119,980 | |||
Income Statement (P&L) ($ in thousands)
| 11/30/2025 TTM | 5/31/2025 | 11/30/2024 TTM | 5/31/2024 | 5/31/2023 | 5/31/2022 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 144,193 | 211,619 | 165,575 | 55,392 | 8,549 | ||
| Cost of revenue | (101,451) | (206,771) | (148,340) | (44,388) | (9,506) | ||
| Gross profit: | 42,742 | 4,848 | 17,235 | 11,004 | (957) | ||
| Operating expenses | (84,203) | (106,604) | (100,841) | (55,059) | (7,604) | ||
| Other undisclosed operating income (loss) | 24,616 | 9,199 | (15,417) | (12,337) | |||
| Operating loss: | (16,845) | (92,557) | (99,023) | (44,055) | (20,898) | ||
| Nonoperating income (expense) | (2,074) | (1,048) | |||||
| Investment income, nonoperating | |||||||
| Interest and debt expense | (14,739) | (37,344) | (29,339) | (94) | (1,342) | ||
| Loss from continuing operations before equity method investments, income taxes: | (31,584) | (129,901) | (128,362) | (46,223) | (23,288) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (126,649) | (140,263) | (21,213) | 94 | 1,342 | ||
| Loss from continuing operations before income taxes: | (158,233) | (270,164) | (149,575) | (46,129) | (21,946) | ||
| Income tax expense (benefit) | (102) | (1) | (96) | 523 | (540) | ||
| Other undisclosed loss from continuing operations | (96) | ||||||
| Loss from continuing operations: | (158,335) | (270,261) | (149,671) | (45,606) | (22,486) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | (23,530) | |
| Loss from discontinued operations | (72,730) | (1,044) | |||||
| Net loss: | (231,065) | (270,261) | (149,671) | (45,606) | (23,530) | ||
| Net income (loss) attributable to noncontrolling interest | 397 | 960 | 10 | ||||
| Other undisclosed net income attributable to parent | |||||||
| Net loss attributable to parent: | (231,065) | (270,261) | (149,274) | (44,646) | (23,520) | ||
| Preferred stock dividends and other adjustments | (2,615) | (673) | |||||
| Other undisclosed net loss available to common stockholders, basic | |||||||
| Net loss available to common stockholders, diluted: | (233,680) | (270,934) | (149,274) | (44,646) | (23,520) | ||
Comprehensive Income ($ in thousands)
| 11/30/2025 TTM | 5/31/2025 | 11/30/2024 TTM | 5/31/2024 | 5/31/2023 | 5/31/2022 | ||
|---|---|---|---|---|---|---|---|
| Net loss: | (231,065) | (270,261) | (149,671) | (45,606) | (23,530) | ||
| Net loss attributable to redeemable noncontrolling interest | ✕ | ✕ | ✕ | ||||
| Comprehensive loss: | (231,065) | (270,261) | (149,671) | (45,606) | (23,530) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 397 | 960 | 10 | ||||
| Comprehensive loss, net of tax, attributable to parent: | (231,065) | (270,261) | (149,274) | (44,646) | (23,520) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.