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Applied Digital Corp. cash flow statement

In fiscal 2026, Applied Digital Corp.'s operations generated $89.7m of cash; it spent $2.87bn on capital projects, leaving free cash flow of −$2.78bn.

Cash flow statement

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

Fiscal year2021May 20212022May 20222023May 20232024May 20242025May 20252026May 2026LTMAug 2026
Cash from operations−0−15914−11590235
Depreciation and amortisation0177913567105
Stock-based pay012321723220271
Capital spending0581311426822,8664,691
Free cash flow−0−59−73−128−797−2,776−4,455
Free cash flow after stock pay−0−71−105−145−820−2,996−4,727
Share buybacks——00310—
Shares issued——01311921960

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.