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APLDApplied Digital Corporation
$30.71$8.8B
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APLD logoApplied Digital Corporation(APLD)Earnings, Financials & Key Ratios

APLD•NASDAQ
$30.71
Price updated Jul 7, 2026
SectorTechnologyIndustryIT ServicesSub-IndustryData Centers and Cloud Infrastructure
AboutApplied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services high-performance computing (HPC) and artificial intelligence industries in North America. It operates through three segments: Data Center Hosting Business, Cloud Services Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas.Show more
  • Revenue$216M+57.7%
  • EBITDA$11M+76.7%
  • Net Income-$231M-54.8%
  • EPS (Diluted)-1.16+11.5%
  • Gross Margin10.53%-52.0%
  • EBITDA Margin5.26%+12.0%
  • Operating Margin-33.53%-204.2%
  • Net Margin-107.22%+1.9%
  • ROE-60.92%+60.3%

APLD Price & Volume

Applied Digital Corporation (APLD) stock price & volume — 10-year historical chart

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Aggressive Infrastructure Scaling Drives Revenue Growth Volatility

Investment Thesis • Updated 2026Q3

VerdictNegative
Growth:Accelerating
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:High capital intensity

Key Thesis Takeaways

  • Applied Digital is undergoing a high-stakes transition from blockchain hosting to AI-compute infrastructure, characterized by a 139.3% year-over-year revenue surge in 2026Q3.
  • While this pivot offers significant growth potential, the company's reliance on $2.8 billion in total debt and massive capital expenditures creates substantial solvency risks.
  • Investors should monitor whether the company can achieve operating leverage, as current SG&A expenses of $82.7 million continue to outpace gross profit growth.

Verdict Logic

the company's reliance on debt-funded growth and a persistent net loss of $99.3 million in 2026Q3 suggest significant long-term solvency risks that outweigh current revenue expansion.

APLD Growth Metrics

Applied Digital Corporation (APLD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years69.62%
5 Years264.06%
3 Years193.21%
TTM84.9%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM23.34%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM47.35%

Return on Capital

10 Years-33.75%
5 Years-19.55%
3 Years-18.24%
Last Year-9.5%

APLD Recent Earnings

Applied Digital Corporation (APLD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/12 qtrs (17%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 8, 2026
Metric
Actual
Est
EPS
$0.36-260.0%
$0.10
Rev
$127M+67.7%
$76M
Q1 2026
Jan 7, 2026
Metric
Actual
Est
EPS
$0.11-22.2%
$0.09
Rev
$127M+48.3%
$85M
Q4 2025
Oct 9, 2025
Metric
Actual
Est
EPS
$0.11+14.7%
$0.13
Rev
$64M+28.5%
$50M
Q3 2025
Jul 30, 2025
Metric
Actual
Est
EPS
$0.12+0.0%
$0.12
Rev
$38M+5.9%
$36M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 8, 2026
$0.36vs $0.10-260.0%
$127Mvs $76M+67.7%
Q1 2026Jan 7, 2026
$0.11vs $0.09-22.2%
$127Mvs $85M+48.3%
Q4 2025Oct 9, 2025
$0.11vs $0.13+14.7%
$64Mvs $50M+28.5%
Q3 2025Jul 30, 2025
$0.12vs $0.12+0.0%
$38Mvs $36M+5.9%
Based on last 12 quarters of dataView full earnings history →

Latest APLD News

Recent stock market news and headlines for Applied Digital Corporation (APLD)

24/7 Wall Street·6 days ago
Oracle Just Became an AI Cloud Powerhouse. Here Are 5 Under-the-Radar Stocks Along for the Ride

Hyperscaler capex has ballooned to nearly $700 billion, up from roughly $400 billion just three months earlier, according to Applied Digital CEO Wes Cummins.

GlobeNewsWire·6 days ago
Applied Digital Delivers Second Building at Polaris Forge 1

DALLAS, July 01, 2026 (GLOBE NEWSWIRE) -- Applied Digital (NASDAQ: APLD), a designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, today announced it has achieved Ready for Service for Phase 1 of Building 2 at Polaris Forge 1, delivering 75 MW of operational AI capacity to its customer on schedule and bringing total live capacity at the campus to 175 MW. The delivery marks the next major milestone in the continued buildout of Polaris Forge 1, Applied Digital's fully leased AI Factory Campus designed to support high-density artificial intelligence and high-performance computing workloads.

24/7 Wall Street·Jun 30, 2026
Coinbase Strategist: Bitcoin Has Survived “6 of These Cycles” in 15 Years and “Over 40 Countries” Hold Bitcoin

Coinbase (NASDAQ:COIN | COIN Price Prediction) Head of Institutional Strategy John D'Agostino used a recent CNBC Squawk Box appearance to push back on the wave of skepticism that has followed a brutal stretch for crypto prices.

24/7 Wall Street·Jun 30, 2026
Up Over 400%, I'm Standing Still on Applied Digital Stock

At $45.20, Applied Digital (NASDAQ:APLD) looks fully valued.

24/7 Wall Street·Jun 29, 2026
Applied Digital CEO: AI Industry Will See “Pretty Significant Delays Through 2026 and 2027”

Applied Digital Chairman and CEO Wes Cummins delivered a message on CNBC's Squawk on the Street about the AI data center buildout.

Peers Comparison

Key metrics vs top competitors for Applied Digital Corporation (APLD)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
APLD logoAPLDApplied Digital CorporationCurrent
$30.71$8.78B-26.4757.74%-107.22%-60.92%0.04%
BTBT logoBTBTBit Digital, Inc.
$1.65$537.3M-5.32-30.65%-146.01%-0.11%—
CIFR logoCIFRCipher Mining Inc.
$20.47$8.31B-9.5248.04%-512.96%-115.53%—
IREN logoIRENIREN Limited
$39.82$14.21B102.09167.65%31.71%9.12%—
CORZ logoCORZCore Scientific, Inc.
$21.54$6.85B-24.48-37.53%-342.93%——
HUT logoHUTHut 8 Corp.
$96.74$10.89B-45.21-90.71%—-17.66%—

Compare APLD vs Peers

Applied Digital Corporation (APLD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BTBT

Most directly comparable listed peer for APLD.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare APLD against a more recognizable public peer.

Peer Set

Compare Top 5

vs BTBT, CIFR, IREN, CORZ

APLD SEC Filings & Documents

Applied Digital Corporation (APLD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 16, 2026·SEC

Material company update

Jun 9, 2026·SEC

Material company update

Jun 9, 2026·SEC

10-K Annual Reports

1
FY 2025

Jul 30, 2025·SEC

10-Q Quarterly Reports

4
FY 2026

Apr 8, 2026·SEC

FY 2026

Jan 8, 2026·SEC

FY 2025

Oct 9, 2025·SEC

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APLD Frequently Asked Questions

Applied Digital Corporation (APLD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Applied Digital Corporation's revenue?

Applied Digital Corporation (APLD) reported $355.5M in revenue for fiscal year 2025. This represents a 72437% increase from $0.5M in 2002.

How fast is Applied Digital Corporation growing?

Applied Digital Corporation (APLD) grew revenue by 57.7% over the past year. This is strong growth.

Is APLD profitable?

Applied Digital Corporation (APLD) reported a net loss of $186.3M for fiscal year 2025.

Dividend & Returns
Does APLD pay dividends?

Applied Digital Corporation (APLD) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

What is APLD's return on equity?

Applied Digital Corporation (APLD) has a return on equity (ROE) of -60.9%. Negative ROE indicates the company is unprofitable.

What is Applied Digital Corporation's free cash flow?

Applied Digital Corporation (APLD) had negative free cash flow of $1.81B in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in APLD back in 2002?

Total return calculator · dividends reinvested · 24+ years of data

See returns →