# Applied Digital Corp.: overview

APLD · Nasdaq · CIK 1144879 · [Technology](/sectors/technology.md) · fiscal year ends May 31

Pages: [Overview](/companies/apld.md) · [Financials](/companies/apld/financials.md) · [Filings](/companies/apld/filings.md) · [Insiders](/companies/apld/insiders.md)

Latest reported revenue: [$262.8m](/filings/0001144879-26-000059.md) for Q1 FY2027, three months to 2026-08-31, from the 10-Q filed Oct 7, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001144879-26-000059).

## Last eight quarters

| Line item | Unit | Q2 FY2025 (2024-11-30) | Q3 FY2025 (2025-02-28) | Q4 FY2025 (2025-05-31) | Q1 FY2026 (2025-08-31) | Q2 FY2026 (2025-11-30) | Q3 FY2026 (2026-02-28) | Q4 FY2026 (2026-05-31) | Q1 FY2027 (2026-08-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [36.2](/filings/0001144879-26-000006.md) | [52.9](/filings/0001144879-26-000030.md) | [(33.3) d](/filings/0001144879-25-000021.md) | [80.9](/filings/0001144879-26-000059.md) | [127](/filings/0001144879-26-000006.md) | [127](/filings/0001144879-26-000030.md) | [259 d](/filings/0001144879-26-000048.md) | [263](/filings/0001144879-26-000059.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(35.4%)](/filings/0001144879-26-000006.md) | [(35.8%)](/filings/0001144879-26-000030.md) | [132.4% d](/filings/0001144879-26-000048.md) | [(12.1%)](/filings/0001144879-26-000059.md) | [(24.5%)](/filings/0001144879-26-000006.md) | [(67.6%)](/filings/0001144879-26-000030.md) | [(48.2%) d](/filings/0001144879-26-000048.md) | [(23.7%)](/filings/0001144879-26-000059.md) |
| Net margin | % | [(383.6%)](/filings/0001144879-26-000006.md) | [(67.2%)](/filings/0001144879-26-000030.md) | [157.8% d](/filings/0001144879-26-000048.md) | [(20.9%)](/filings/0001144879-26-000059.md) | [(11.4%)](/filings/0001144879-26-000006.md) | [(55.7%)](/filings/0001144879-26-000030.md) | [(31.8%) d](/filings/0001144879-26-000048.md) | [(70.0%)](/filings/0001144879-26-000059.md) |
| Diluted EPS | $ per share | [(0.66)](/filings/0001144879-26-000006.md) | [(0.16)](/filings/0001144879-26-000030.md) | not reported | [(0.07)](/filings/0001144879-26-000059.md) | [(0.07)](/filings/0001144879-26-000006.md) | [(0.36)](/filings/0001144879-26-000030.md) | not reported | [(0.82)](/filings/0001144879-26-000059.md) |
| Free cash flow | $m | [(223) d](/filings/0001144879-26-000006.md) | [(252) d](/filings/0001144879-26-000030.md) | [(191) d](/filings/0001144879-26-000048.md) | [(331)](/filings/0001144879-26-000059.md) | [(568) d](/filings/0001144879-26-000006.md) | [(720) d](/filings/0001144879-26-000030.md) | [(1,157) d](/filings/0001144879-26-000048.md) | [(2,011)](/filings/0001144879-26-000059.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:ProfitLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-05-31) | FY2023 (2023-05-31) | FY2024 (2024-05-31) | FY2025 (2025-05-31) | FY2026 (2026-05-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [8.5](/filings/0001144879-23-000176.md) | [55.4](/filings/0001144879-25-000021.md) | [137](/filings/0001144879-25-000021.md) | [144](/filings/0001144879-25-000021.md) | [611](/filings/0001144879-26-000048.md) |
| Gross margin | % | [(11.2%)](/filings/0001144879-23-000176.md) | [19.9%](/filings/0001144879-23-000176.md) | not reported | not reported | not reported |
| Operating margin | % | [(244.4%)](/filings/0001144879-23-000176.md) | [(77.5%)](/filings/0001144879-25-000021.md) | [(72.0%)](/filings/0001144879-26-000048.md) | [(50.1%)](/filings/0001144879-26-000048.md) | [(38.7%)](/filings/0001144879-26-000048.md) |
| Net margin | % | [(275.1%)](/filings/0001144879-23-000176.md) | [(80.6%)](/filings/0001144879-24-000216.md) | [(109.3%)](/filings/0001144879-24-000216.md) | [(160.2%)](/filings/0001144879-26-000048.md) | [(30.2%)](/filings/0001144879-26-000048.md) |
| Diluted EPS | $ per share | [(0.41)](/filings/0001144879-23-000176.md) | [(0.47)](/filings/0001144879-25-000021.md) | [(1.31)](/filings/0001144879-26-000048.md) | [(1.16)](/filings/0001144879-26-000048.md) | [(0.91)](/filings/0001144879-26-000048.md) |
| Free cash flow | $m | [(59.1)](/filings/0001144879-23-000176.md) | [(72.5)](/filings/0001144879-25-000021.md) | [(128)](/filings/0001144879-26-000048.md) | [(797)](/filings/0001144879-26-000048.md) | [(2,776)](/filings/0001144879-26-000048.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:ProfitLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/apld/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Hood River Capital Management LLC](/funds/1578177.md) | 2026-06-30 | $840.0m | 22,518,887 |  | Reduced −556,725 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $512.1m | 13,728,812 |  | Reduced −1,078,983 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $498.9m | 13,375,070 |  | Reduced −7,521,031 |
| [Situational Awareness LP](/funds/2045724.md) | 2026-06-30 | $469.0m | 15,384,616 |  | Added +1,906,178 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $431.0m | 11,555,819 |  | Added +780,138 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $384.2m | 10,299,117 |  | Added +8,706,515 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $364.1m | 9,762,700 | Call | Added +1,073,000 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $337.3m | 9,043,600 | Call | Added +1,422,100 |
| [Situational Awareness Partners LP](/funds/2038540.md) | 2026-03-31 | $320.0m | 13,478,438 |  | Not compared |
| [EQUITEC PROPRIETARY MARKETS, LLC](/funds/1143261.md) | 2026-06-30 | $312.3m | 8,373,964 |  | New +8,373,964 |

## Recent filings

[All 644 filings](/companies/apld/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-07 | 21:19 ET | [10-Q](/filings/0001144879-26-000059.md) | Quarterly report, period 2026-08-31 | 0001144879-26-000059 |
| 2026-10-07 | 20:43 ET | [8-K](/filings/0001144879-26-000057.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001144879-26-000057 |
| 2026-09-25 | 20:30 ET | [DEF 14A](/filings/0001493152-26-044325.md) | Proxy statement, period 2026-09-25 | 0001493152-26-044325 |
| 2026-07-29 | 20:07 ET | [10-K](/filings/0001144879-26-000048.md) | Annual report, period 2026-05-31 | 0001144879-26-000048 |
| 2026-07-27 | 21:04 ET | [8-K](/filings/0001144879-26-000044.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001144879-26-000044 |
| 2026-07-08 | 01:41 ET | [SCHEDULE 13D/A](/filings/0001493152-26-032572.md) | Ownership report, active investor, amended | 0001493152-26-032572 |
| 2026-06-26 | 01:30 ET | [SCHEDULE 13D/A](/filings/0001493152-26-030373.md) | Ownership report, active investor, amended | 0001493152-26-030373 |
| 2026-06-26 | 21:03 ET | [8-K](/filings/0001493152-26-030333.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 9.01 Financial statements and exhibits | 0001493152-26-030333 |
| 2026-06-17 | 12:01 ET | [8-K/A](/filings/0001493152-26-028993.md) | 1.01 Entry into a material agreement | 0001493152-26-028993 |
| 2026-06-16 | 20:30 ET | [8-K](/filings/0001493152-26-028899.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001493152-26-028899 |

## Latest annual report

[Form 10-K for the fiscal year ended May 31, 2026](/filings/0001144879-26-000048.md), filed Jul 29, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1144879
- Tickers: APLD
- Exchange: Nasdaq
- SIC code: 7374 Services-Computer Processing & Data Preparation
- State of incorporation: NV
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:34 ET. No prices; not investment advice.