Applied Digital Corp. income statement

In fiscal 2026, Applied Digital Corp. reported revenue of $611m, up 167.5% on the year before, operating income of −$236m (a -38.7% margin) and net income of −$250m, or −$0.91 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Applied Digital Corp.: income statement, annual
Fiscal year	2021May 2021	2022May 2022	2023May 2023	2024May 2024	2025May 2025	2026May 2026	LTMAug 2026
Revenue	0	9	55	166	229	611	854
Cost of revenue	0	10	44	148	217	397	581
Gross profit	0	−1	11	17	12	214	273
Selling, general and administrative	0	20	54	98	108	332	417
Operating income	−0	−21	−43	−98	−72	−236	−304
Interest expense	0	0	2	27	32	30	97
Income before tax	−1	−22	−45	−150	−231	−182	−343
Income tax	0	1	−1	0	0	2	4
Net income	−1	−24	−45	−149	−234	−250	−411
Diluted EPS	−$0.38	−$0.41	−$0.47	−$1.31	−$1.16	−$0.91	−$1.45
Diluted shares (average)	2m	57m	94m	114m	201m	275m	284m
EBITDA	−0	−20	−36	−19	63	−169	−199

US$ millions unless shown otherwise. Fiscal quarters.

Applied Digital Corp.: income statement, 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
Revenue	36	53	51	81	127	127	259	342
Cost of revenue	23	49	54	59	101	73	161	246
Gross profit	14	4	−3	22	26	54	97	96
Selling, general and administrative	26	23	41	29	57	80	165	115
Operating income	−13	−19	−44	−10	−31	−86	−125	−62
Interest expense	3	9	8	8	11	−2	11	77
Income before tax	−128	−35	−53	−17	−27	−71	−80	−166
Income tax	0	0	−0	0	0	−0	2	2
Net income	−139	−36	−54	−17	−14	−101	−112	−184
Diluted EPS	−$0.66	−$0.16	−$0.23	−$0.07	−$0.07	−$0.36	−$0.40	−$0.82
EBITDA	−8	−0	11	−6	−22	−65	−91	−20

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.