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Applied Digital APLD Cloud Services Business — SG&A

Other segment segments

HPC Hosting Business
$6.1M+102%
Data Center Hosting Business
$378K-47.2%

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Other financials

Income statement

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Revenue$258.7M+407%
Gross profit$97.3M-13.3%
Operating income-$124.8M
Net income-$82.4M-56.9%
EPS (diluted)-$0.40-73.9%

Balance sheet

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Cash & equivalents$1.6B+1,191%
Total debt$5.1B+511%
Total equity$1.7B+245%
Total assets$9.9B+431%

Cash flow

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Operating cash flow$132.5M
CapEx$1.3B+550%
Free cash flow-$1.2B-504%

Valuation

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Market cap$8.6B+122%
Enterprise value$12.14B+165%
P/S14.9×-2.0×

Profitability

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Gross margin32.2%-23.4pp
Operating margin-45.8%
Net margin-32%-13.0pp
FCF margin-481.8%+297pp

Returns & leverage

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Return on equity-16.6%-7.3pp
Debt / equity+1.3×
Current ratio+3.7×

Where this comes from

Reported directly by Applied Digital in its filing.

Tagged under the XBRL concept us-gaap:SellingGeneralAndAdministrativeExpense.

The source filing: Applied Digital’s 10-Q, filed April 8, 2026.

Filed
Apr 8, 2026, 4:26 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q1 2026
Accession
0001144879-26-000030
Line itemData Center Hosting BusinessCloud Services BusinessHPC Hosting Business
Revenue$37,542$18,087$71,008
Costs and expenses:
Cost of revenues22,9926,28243,558
Selling, general and administrative (1)6884,2429,885
Loss on classification of held for sale59,650
Loss on abandonment of assets3107
Total costs and expenses23,68370,28153,443
Segment profit (loss)$13,859$(52,194)$17,565

Item 1. Financial Statements

FAQ

What is Applied Digital's cloud services business — SG&A?
Applied Digital (APLD) reported cloud services business — SG&A of $4.24M in Q4 2025.
What does cloud services business — SG&A mean?
Captures the indirect costs of operating the cloud services segment, including sales commissions, marketing, and administrative overhead. This metric reflects the investment in business development and corporate support required to sustain the segment's growth.

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