A Business at a Glance
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Our Business We are a United States ("U.S.") designer, developer, and operator of next-generation data center infrastructure across North America. We provide data center infrastructure solutions to the rapidly growing industries of high-performance computing ("HPC") and artificial intelligence ("AI"). We operate in two distinct business segments, blockchain data center hosting (the "Data Center Hosting Business") and HPC data center hosting (the "HPC Hosting Business"), as further discussed below. During the fiscal year 2025, we determined that the Cloud Services Business met the criteria to be classified as “held for sale” on our consolidated balance sheets as the Board of Directors approved plans for the sale of the segment.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 210M | 144M | 137M | 55M | - | 0 |
| Net Income | -128M | -234M | -149M | -45M | -24M | -568K |
| EPS | $-0.50 | $-1.16 | $-1.31 | $-0.48 | $-0.41 | $-2.28 |
| Free Cash Flow | -1.3B | -797M | -128M | -73M | -59M | -103K |
| ROIC | -22.2% | -5.9% | -79.4% | -65.8% | -29.6% | - |
| Gross Margin | 31.5% | 29.6% | 21.9% | 19.9% | - | - |
| Debt/Equity | 1.79 | 0.06 | 1.43 | 0.35 | 0.11 | - |
| Dividends/Share | $0.02 | $0.01 | $0.00 | - | - | - |
| Operating Income | -61M | -17M | -99M | -44M | -21M | -332K |
| Operating Margin | -29.0% | -11.7% | -72.5% | -79.5% | - | - |
| ROE | -8.8% | -75.1% | -119.6% | -75.0% | -32.5% | - |
| Shares Outstanding | 280M | 201M | 262M | 93M | 57M | 0M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 0 | N/A | 55M | 137M | 144M | 210M |
| Gross Margin | N/A | N/A | 19.9% | 21.9% | 29.6% | 31.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 332K | 20M | 55M | 98M | 83M | 125M |
| EBIT | -332K | -21M | -44M | -99M | -17M | -61M |
| Op. Margin | N/A | N/A | -79.5% | -72.5% | -11.7% | -29.0% |
| Net Income | -568K | -24M | -45M | -149M | -234M | -128M |
| Net Margin | N/A | N/A | -80.6% | -109.3% | -162.1% | -60.6% |
| Non-Recurring | 0 | 0 | 0 | 500K | -638K | -2.1M |
| Returns on Capital | ||||||
| ROIC | N/A | -29.6% | -65.8% | -79.4% | -5.9% | -22.2% |
| ROE | N/A | -32.5% | -75.0% | -119.6% | -75.1% | -8.8% |
| ROA | N/A | -19.6% | -16.9% | -19.6% | -17.8% | -2.4% |
| Cash Flow | ||||||
| Op. Cash Flow | -83K | -872K | 59M | 14M | -115M | -85M |
| Free Cash Flow | -103K | -59M | -73M | -128M | -797M | -1.3B |
| Owner Earnings | -84K | -14M | 19M | -83M | -236M | -202M |
| CapEx | 20K | 58M | 131M | 142M | 682M | 1.3B |
| Maint. CapEx | 1K | 1.1M | 7.6M | 79M | 98M | 50M |
| Growth CapEx | 19K | 57M | 124M | 62M | 584M | 1.2B |
| D&A | 1K | 1.1M | 7.6M | 79M | 98M | 50M |
| CapEx/OCF | N/A | N/A | 223.5% | 1028.0% | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 2.6M | 5.1M |
| Dividend Yield | N/A | N/A | N/A | N/A | 0.2% | 0.1% |
| Share Buybacks | 0 | 0 | 0 | 0 | 31M | 31M |
| Buyback Yield | N/A | N/A | N/A | N/A | 2.1% | 0.4% |
| Stock-Based Comp | 0 | 12M | 32M | 17M | 23M | 67M |
| Debt Repayment | 0 | 94K | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | N/A | -31M | -37M | 171M | -55M | -1.2B |
| Cash & Equiv. | N/A | 39M | 29M | 3.3M | 42M | 3.8B |
| Long-Term Debt | N/A | 7.2M | 8.3M | 63M | 15K | 8K |
| Debt/Equity | N/A | 0.11 | 0.35 | 1.43 | 0.06 | 1.79 |
| Interest Coverage | -1.4 | -186.6 | -22.3 | -5.6 | -1.1 | -1.1 |
| Equity | N/A | 72M | 60M | 125M | 498M | 1.4B |
| Total Assets | N/A | 120M | 264M | 763M | 1.9B | 5.2B |
| Total Liabilities | N/A | 41M | 194M | 638M | 1.2B | 3.2B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | -56M | -101M | -250M | -481M | -512M |
| Working Capital | N/A | 20M | -70M | -150M | -128M | 2.2B |
| Current Assets | N/A | 49M | 46M | 404M | 431M | 2.7B |
| Current Liabilities | N/A | 29M | 115M | 554M | 558M | 563M |
| Per Share Data | ||||||
| EPS | -2.28 | -0.41 | -0.48 | -1.31 | -1.16 | -0.50 |
| Owner EPS | -0.34 | -0.25 | 0.20 | -0.32 | -1.17 | -0.72 |
| Book Value | N/A | 1.26 | 0.64 | 0.48 | 2.47 | 5.18 |
| Cash Flow/Share | -0.33 | -0.02 | 0.63 | 0.05 | -0.57 | -0.28 |
| Dividends/Share | N/A | N/A | N/A | 0.00 | 0.01 | 0.02 |
| Shares Out. | 0.2M | 57.4M | 93.0M | 261.5M | 201.4M | 279.6M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -62.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.7 | 12.4 | 4.2 | 2.9 | 6.1 |
| Price/Sales | N/A | N/A | 4.1 | 4.7 | 9.3 | 41.8 |
| FCF Yield | N/A | -22.4% | -9.8% | -24.3% | -54.4% | -15.3% |
| Market Cap | N/A | 264M | 738M | 526M | 1.5B | 8.8B |
| Avg. Price | N/A | 3.46 | 2.46 | 5.68 | 6.67 | 31.47 |
| Year-End Price | N/A | 4.60 | 7.93 | 4.62 | 7.27 | 31.47 |
Applied Digital Corp. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 23.8%. Total shareholder yield (buybacks) is 0.4%.
Applied Digital Corp. (APLD) has a 5-year average return on invested capital (ROIC) of -45.2%. This is below average and may indicate limited pricing power.
Applied Digital Corp. (APLD) has a market capitalization of $8.8B. It is classified as a mid-cap stock.
Yes, Applied Digital Corp. (APLD) pays a dividend with a trailing twelve-month yield of 0.06%. The company also returns capital through share buybacks, with a buyback yield of 0.36%.
Applied Digital Corp. (APLD) operates in the Services-Computer Processing & Data Preparation industry, within the Technology sector.
Applied Digital Corp. (APLD) reported annual revenue of $144 million in its most recent fiscal year, based on SEC EDGAR filings.
Applied Digital Corp. (APLD) has a net profit margin of -162.1%. The company is currently unprofitable.
Applied Digital Corp. (APLD) generated $-797 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Applied Digital Corp. (APLD) has a debt-to-equity ratio of 0.06. This indicates a conservatively financed balance sheet.
Applied Digital Corp. (APLD) reported earnings per share (EPS) of $-1.16 in its most recent fiscal year.
Applied Digital Corp. (APLD) has a return on equity (ROE) of -75.1%. A negative ROE may indicate losses or negative equity.
Applied Digital Corp. (APLD) has a 5-year average gross margin of 23.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for Applied Digital Corp. (APLD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Applied Digital Corp. (APLD) has a book value per share of $2.47, based on its most recent annual SEC filing.