What Are Applied Digital Corporation's Key Financial Figures?
| Fiscal year | FY2026 ended May 31, 2026 | FY2025 ended May 31, 2025 | FY2024 ended May 31, 2024 | FY2023 ended May 31, 2023 |
|---|---|---|---|---|
| Revenue | $611 million | $229 million | $166 million | $55 million |
| Operating income | -$236 million | -$72 million | -$98 million | -$43 million |
| Operating margin | -38.7% | -31.6% | -59.4% | -77.5% |
| Net income | -$250 million | -$234 million | -$149 million | -$45 million |
| Net margin | -40.9% | -102.2% | -90.2% | -80.6% |
| Operating cash flow | $90 million | -$115 million | $14 million | $59 million |
| Capital expenditures | $2.9 billion | $682 million | $142 million | $131 million |
| Free cash flow | -$2.8 billion | -$797 million | -$128 million | -$73 million |
Operating margin narrowed by 7.1 percentage points between fiscal 2025 and 2026, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$2.8 billion against net income of -$250 million; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does Applied Digital Corporation's Balance Sheet Show?
| Cash and cash equivalents | $1.6 billion |
|---|---|
| Long-term debt | $5.0 billion |
| Total assets | $9.9 billion |
| Total liabilities | $6.2 billion |
| Shareholders' equity | $1.7 billion |
| Current ratio | 4.0x |
Balance sheet values are as of the end of fiscal 2026. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Applied Digital Corporation reported in its own SEC filings, read from the SEC's XBRL data (accession 0001144879-26-000048 for fiscal year 2026). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Applied Digital Corporation's revenue in fiscal 2026?
Applied Digital Corporation reported revenue of $611 million for the fiscal year ended May 31, 2026, according to its SEC filings.
What is Applied Digital Corporation's operating margin?
Applied Digital Corporation's operating margin was -38.7% in fiscal 2026: operating income of -$236 million on revenue of $611 million.
How much free cash flow did Applied Digital Corporation generate?
Operating cash flow of $90 million less capital expenditures of $2.9 billion gives free cash flow of -$2.8 billion for fiscal 2026.