Applied Digital Corp (APLD) financials
Applied Digital revenue and earnings by year
Applied Digital's revenue was $611 million in the fiscal year to May 31, 2026, up 167.5% from the year before. Net income was -$244 million, -39.9% of revenue. Since the fiscal year to May 31, 2022, revenue has grown 190.8% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 5 fiscal years
| Fiscal year to | May 2026 | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|
| Revenue | 0.61 | 0.23 | 0.17 | 0.06 | 0.01 |
| Revenue growth | 167.5% | 38.0% | 198.9% | 547.9% | — |
| Gross profit | 0.16 | 0.01 | 0.02 | 0.01 | -0.00 |
| Gross margin | 25.8% | 5.2% | 10.4% | 19.9% | -11.2% |
| Operating income | -0.24 | -0.07 | -0.10 | -0.04 | -0.02 |
| Operating margin | -38.7% | -31.6% | -58.0% | -79.5% | -244.4% |
| Net income | -0.24 | -0.23 | -0.15 | -0.04 | -0.02 |
| Net margin | -39.9% | -101.1% | -90.6% | -80.6% | -275.1% |
| Diluted EPS | -$0.91 | -$1.16 | -$1.31 | -$0.47 | -$0.41 |
| Free cash flow | -2.78 | -0.77 | -0.11 | -0.07 | -0.06 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open APLD in Markets.
How Applied Digital makes money
Revenue by segment in the quarter to February 28, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| HPC Hosting Business | $71.0M | 56.1% |
| Data Center Hosting Business | $37.5M | 29.6% |
| Cloud Services Business | $18.1M | 14.3% |
See also: APLD returns
No forecast, no recommendation. This page describes Applied Digital Corp from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.