6 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2026 | $611M | -$184M | 35.1% | -38.7% | -10.7% | -1.9% | -$2.8B | — | $1.6B |
| 2025 | $229M | -$231M | 5.2% | -31.6% | -46.4% | -12.4% | -$797M | — | $44M |
| 2024 | $166M | -$150M | 10.4% | -59.4% | -119.9% | -19.6% | -$128M | — | $3M |
| 2023 | — | -$46M | — | — | -76.6% | -17.3% | -$73M | — | $29M |
| 2022 | — | -$24M | — | — | -32.6% | -19.6% | -$56M | $7M | $39M |
| 2021 | — | -$568000 | — | — | 22.0% | -3.8% | — | — | $12M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| May '26 | — | -$82M | — | — | -4.8% | -0.8% | -$1.2B | — | $1.6B |
| Feb '26 | — | -$71M | — | — | -4.5% | -1.1% | -$720M | — | $1.7B |
| Nov '25 | — | -$14M | — | — | -1.0% | -0.3% | -$568M | — | $1.9B |
| Aug '25 | — | -$17M | — | — | -1.6% | -0.7% | -$331M | — | $74M |
| May '25 | — | -$53M | — | — | -10.6% | -2.8% | -$191M | — | $44M |
| Feb '25 | — | -$36M | — | — | -7.8% | -2.1% | -$252M | — | $69M |
| Nov '24 | — | -$139M | — | — | -31.9% | -9.0% | -$223M | — | $286M |
| Aug '24 | — | -$4M | — | — | -1.8% | -0.5% | -$131M | — | $58M |
| May '24 | — | -$64M | — | — | -51.6% | -8.4% | -$89M | — | $3M |
| Feb '24 | — | -$63M | — | — | -53.0% | -9.8% | -$2M | — | $4M |
| Nov '23 | — | -$11M | — | — | -6.8% | -2.2% | -$9M | — | $9M |
| Aug '23 | — | -$12M | — | — | -9.3% | -3.4% | -$28M | — | $6M |
| May '23 | — | -$7M | — | — | -11.5% | -2.6% | -$30M | — | $29M |
| Feb '23 | — | -$7M | — | — | -12.1% | -3.5% | $256000 | — | $8M |
| Nov '22 | — | -$27M | — | — | -42.1% | -16.0% | -$28M | — | $11M |
| Aug '22 | — | -$5M | — | — | -6.8% | -3.2% | -$14M | — | $33M |
| May '22 | — | -$3M | — | — | -3.9% | -2.3% | — | $7M | $39M |
| Feb '22 | — | -$6M | — | — | 74.9% | -10.2% | — | — | $12M |
| Nov '21 | — | -$171000 | — | — | 18.5% | — | — | — | — |
| Aug '21 | — | -$14M | — | — | — | — | — | — | — |
How the market has priced APLD against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Applied Digital's revenue has grown 92.1% per year. These are computed facts, not advice.
As of FY2026, Applied Digital reported — of total debt against $1.6B of cash; operating income covered interest expense -8.0×.
In FY2026, gross margin was 35.1%, operating margin -38.7%, and net margin -30.2%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.