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NASDAQ · Financials

Applied Digital financials & valuation

Reported statements, fiscal periods and valuation definitions in one place.

Section freshness

Prices as of Oct 2, 4:00 PM EDT · Fundamentals checked Oct 3, 5:55 PM EDT · Statement period ended May 31, 2026

Financial statements

Revenue

611.31M

FY2026 · ended May 31, 2026

Operating Income

-236.46M

FY2026 · ended May 31, 2026

Net Income

—

FY2026 · ended May 31, 2026

Amounts in USD. B = billions · M = millions. Scroll horizontally for earlier periods.

Sources, units & calculation notes

TECHi unified data / SEC Companyfacts. Per-share figures are in USD/share; margins in %, debt/equity in ×. TTM sums four consecutive quarters; balance sheets remain period-end balances. A trailing-twelve-month EPS figure is not the sum of the quarterly EPS cells. Growth requires comparable positive values. EPS uses the provider’s reported share basis; a missing quarter says it is not on file, or shows a derived figure only when net income and a plausible share count are already on the page. Mixed filing split bases are not summed. EPS growth and trend lines require matching documented accounting and split bases. Tab through controls; use arrow keys inside the table.

APLD annual income
FY2026Ended May 31, 2026Filed Jul 29, 2026Source filing	FY2025Ended May 31, 2025Filed Jul 30, 2025Source filing	FY2024Ended May 31, 2024As reported in the Jul 30, 2025 filingSource filing	FY2023Ended May 31, 2023As reported in the Jul 30, 2025 filingSource filing	1Y change	3Y annual growth
611.31M	144.19M	136.62M	55.39M	324.0%	122.6%
-236.46M	-72.18M	-98.34M	-42.91M	—	—
—	—	-149.27M	-44.65M	—	—
—	—	—	11M	—	—

Earnings quality · May 31, 2026

Net income: —
Free cash flow: -2.78B
Stock-based compensation: 220.14M
FCF / net income: —
Accrual gap / revenue: —
Cash conversion: Not meaningful with non-positive or missing earnings

Accrual gap = (net income − operating cash flow) / revenue. TECHi descriptive thresholds: strong ≥100%, moderate 75–100%, weak <75%. CapEx timing, working capital and industry structure affect the ratio; it is not an accounting audit.

Download quarterly financial dataset

Changes between reports

Q4 May 31, 2026 versus Q3 Feb 28, 2026

Reported periods shown above are compared directly; a missing intervening quarter is not inferred. Margin changes are in percentage points (pp).

Revenue: 293.87M↑ +132.1%; Previous: 126.64M · USD
Operating margin: -33.19%↑ +34.5 pp; Previous: -67.65%
Cash: 1.59B↓ -8.0%; Previous: 1.73B · USD
Capex: 1.29B↑ +66.3%; Previous: 775.21M · USD
Stock-based compensation: 125.39M↑ +150.0%; Previous: 50.15M · USD

Reported-period comparison. Guidance and risk-factor changes require reading the filings.

Read the filings

Valuation & ratios

Multiples with negative or missing earnings are not meaningful. Annual free cash flow yield uses the latest fiscal year; provider forward multiples may use a different earnings horizon.

Valuation history and definitions

5Y median / percentile: Five-year observations unavailable
Forward EPS vs trailing EPS: —
PEG: —PEG is the forward P/E divided by the expected EPS growth rate in percent.

EPS growth proxy compares the available annual estimate (FY2027 period end 2027-05-31) with trailing EPS; it is not a multi-year consensus growth rate. Historical valuation uses dated observations, using price divided by the annual EPS estimate recorded that day. Legacy provider P/E observations with an unknown earnings basis are excluded. Available P/E observations: 0.

Why provider ratios differ · reconciliation

Forward P/E can use next fiscal year, current fiscal year or next-twelve-month earnings; trailing P/E can use GAAP or adjusted earnings and different closing prices. TECHi compares figures with the same earnings basis and reporting period. Different definitions are not averaged together.

Metric	Value / formula	Source and date
Trailing P/E	N/M · non-positive earnings	Not supplied
Trailing EPS	-0.91	Yahoo Finance · Oct 3, 2026, 5:55 PM EDT
Price ÷ annual EPS estimate	N/M · non-positive estimated EPS	TECHi calculation · FY2027 period end 2027-05-31

All data sources

Search the dated figures used for this view. Each entry identifies its units, reporting period and calculation status.

How to use this page

Use this to decide whether the business supports the valuation.

Best for Revenue quality, margins, cash conversion, debt, and filing cadence.

Weak when One-time items or old filings dominate the most recent reported figures.

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