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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:ProfitLoss.

The source filing: Applied Digital’s 10-K, filed July 29, 2026.

Filed
Jul 29, 2026, 4:07 PM EDT
Fiscal year
FY2026
Accession
0001144879-26-000048
Line itemFiscal Year Ended / May 31, 2026Fiscal Year Ended / May 31, 2025Fiscal Year Ended / May 31, 2024
Income tax expense1,78710296
Net loss from continuing operations(183,319)(231,065)(149,671)
Net loss from discontinued operations(1,020)
Net loss(184,339)(231,065)(149,671)
Net loss attributable to noncontrolling interest and redeemable noncontrolling interest(59,665)(397)
Preferred dividends(6,259)(2,615)
Net loss attributable to common stockholders$(250,263)$(233,680)$(149,274)
Net loss attributable to common stockholders

Item 8. Financial Statements and Supplementary Data

FAQ

What is Applied Digital's net income?
Applied Digital (APLD) reported net income of -$82.41M in Q1 2026.
How has Applied Digital's net income changed year-over-year?
Applied Digital's net income decreased by 56.9% year-over-year, from -$52.54M to -$82.41M.
What is the long-term trend for Applied Digital's net income?
Over 4 years (2022 to 2026), Applied Digital's net income has grown at a 67.3% compound annual growth rate (CAGR), from -$23.52M to -$184.34M.
What does net income mean?
Net income as the starting point for the indirect method operating cash flow reconciliation.

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