Applied Digital Corp. balance sheet

At the end of fiscal 2026, Applied Digital Corp. had total assets of $9.93bn, total liabilities of $6.19bn and shareholders' equity of $1.72bn. It held $1.59bn in cash against $4.98bn of debt: net debt of $3.38bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Applied Digital Corp.: balance sheet, annual
Fiscal year	2021May 2021	2022May 2022	2023May 2023	2024May 2024	2025May 2025	2026May 2026	LTMAug 2026
Cash and equivalents	0.0	0.0	0.0	0.0	0.0	1.6	2.9
Receivables	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Total current assets	0.0	0.0	0.0	0.4	0.1	4.7	4.1
Goodwill	—	—	—	—	0.0	0.1	0.1
Total assets	0.0	0.1	0.3	0.8	1.9	9.9	11.7
Accounts payable	—	—	0.0	0.1	0.3	0.4	0.3
Deferred revenue (current)	0.0	0.0	0.0	—	0.0	0.0	0.0
Total current liabilities	0.0	0.0	0.1	0.6	0.5	1.2	1.6
Long-term debt	0.0	0.0	—	—	0.7	5.0	6.3
Total debt	0.0	0.0	0.0	0.0	0.7	5.0	6.4
Total liabilities	0.0	0.0	0.2	0.6	1.2	6.2	7.9
Shareholders' equity	−0.0	0.1	0.1	0.1	0.5	1.7	1.6
Non-controlling interests and other (assets − liabilities − equity)	0.0	0.0	0.0	—	0.1	2.0	2.2
Net debt (negative = net cash)	−0.0	−0.0	−0.0	0.0	0.6	3.4	3.4
Shares outstanding	2m	—	96m	139m	225m	288m	297m

US$ billions unless shown otherwise. Fiscal quarters.

Applied Digital Corp.: balance sheet, quarterly
Quarter	2025 Q2Nov 2024	2025 Q3Feb 2025	2025 Q4May 2025	2026 Q1Aug 2025	2026 Q2Nov 2025	2026 Q3Feb 2026	2026 Q4May 2026	2027 Q1Aug 2026
Receivables	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Total current assets	0.3	0.3	0.1	0.6	2.7	2.4	4.7	4.1
Goodwill	—	—	0.0	—	—	—	0.1	0.1
Total assets	1.5	1.7	1.9	2.4	5.2	6.2	9.9	11.7
Accounts payable	0.2	0.2	0.3	0.2	0.1	0.4	0.4	0.3
Deferred revenue (current)	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Total current liabilities	0.4	0.4	0.5	1.0	0.6	1.0	1.2	1.6
Long-term debt	—	—	0.7	0.3	2.6	2.6	5.0	6.3
Total debt	—	—	0.7	0.3	2.6	2.6	5.0	6.3
Total liabilities	1.1	1.2	1.2	1.3	3.2	3.7	6.2	7.9
Shareholders' equity	0.4	0.5	0.5	1.0	1.4	1.6	1.7	1.6
Non-controlling interests and other (assets − liabilities − equity)	0.1	0.0	0.1	0.1	0.6	1.0	2.0	2.2
Shares outstanding	217m	224m	225m	269m	279m	285m	288m	297m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Applied Digital Corp.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Applied Digital Corp.