Applied Digital financials
$25.41+3.59%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q4 '26 May 31 | Q3 '26 Feb 28 | Q2 '26 Nov 30 | Q1 '26 Aug 31 | Q4 '25 May 31 | Q3 '25 Feb 28 | Q2 '25 Nov 30 | Q1 '25 Aug 31 | Q4 '24 May 31 | Q3 '24 Feb 29 | Q2 '24 Nov 30 | Q1 '24 Aug 31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $258.7M | $126.6M | $126.6M | $64.2M | $51.1M | $52.9M | $36.2M | $34.8M | $14.7M | $43.3M | $42.2M | $36.3M |
| Gross profit | $40.5M | $53.8M | $26.0M | $8.6M | -$3.1M | $3.8M | $13.5M | $12.1M | $10.1M | -$3.7M | $12.4M | $11.1M |
| Gross margin | 15.7% | 42.5% | 20.6% | 13.4% | −6.1% | 7.1% | 37.3% | 34.7% | 68.8% | −8.6% | 29.5% | 30.6% |
| Operating income | -$124.8M | -$25.9M | -$31.0M | -$22.3M | -$44.1M | -$18.9M | -$12.8M | $485.0K | $13.8M | -$33.7M | -$7.9M | -$7.4M |
| Net income | -$111.7M | -$100.9M | -$19.1M | -$18.5M | -$53.9M | -$36.1M | -$139.4M | -$4.3M | -$64.5M | -$62.8M | -$10.5M | -$11.5M |
| Net margin | −43.2% | −79.6% | −15.1% | −28.8% | −105.6% | −68.2% | −385.4% | −12.3% | −437.2% | −145.0% | −24.9% | −31.5% |
| Diluted EPS | $-0.39 | $-0.36 | $-0.07 | $-0.07 | $-0.24 | $-0.16 | $-0.66 | $-0.03 | $-0.52 | $-0.52 | $-0.10 | $-0.11 |
| EBITDA | -$90.9M | -$5.1M | -$22.4M | -$16.4M | -$25.7M | -$164.0K | $14.0M | $35.4M | $16.2M | -$7.4M | $5.6M | $2.8M |
| Operating cash flow | $132.5M | $55.0M | -$15.8M | -$82.0M | $6.9M | $5.9M | -$52.3M | -$75.9M | -$31.5M | $36.3M | $4.5M | $4.5M |
| Free cash flow | -$1.16B | -$720.2M | -$567.9M | -$331.4M | -$191.4M | -$251.6M | -$223.3M | -$130.7M | -$88.9M | -$2.3M | -$8.7M | -$28.1M |
| Diluted shares | 285.5M | 282.0M | 277.4M | 255.9M | 223.7M | 222.5M | 209.6M | 149.1M | 124.6M | 121.4M | 109.7M | 100.5M |
Balance sheet
| Period end | May 31 | Feb 28 | Nov 30 | Aug 31 | May 31 | Feb 28 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.59B | $1.73B | $1.91B | $73.9M | $44.0M | $68.7M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $5.03B | $2.76B | $2.61B | $699.3M | $835.2M | $861.5M |
| Total assets | $9.93B | $6.25B | $5.23B | $2.40B | $1.87B | $1.71B |
| Total liabilities | $6.19B | $3.68B | $3.16B | $1.29B | $1.24B | $1.21B |
| Shareholders' equity | $1.79B | $1.64B | $1.45B | $1.11B | $633.7M | $497.9M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology