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Applied Digital Corp. revenue

Applied Digital Corp.'s revenue was $611m in fiscal 2026, up 167.5% on the year before. Since fiscal 2022 ($8.5m) it has grown at a compound 190.8% a year. Over the last twelve months it was $854m.

Revenue history

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

Fiscal year2021May 20212022May 20222023May 20232024May 20242025May 20252026May 2026LTMAug 2026
Revenue0955166229611854
Growth on the year before——+547.9%+198.9%+38.0%+167.5%—
Gross profit0−1111712214273
Gross margin—−11.2%19.9%10.4%5.2%35.1%32.0%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to May 31, 2026
Segments
Line of business Revenue YoY
HPC Hosting Business $271M —
Data Center Hosting Business $154M ▲ 7.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Applied Digital Corp.'s 10-K filed July 29, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Internet Services & Infrastructure: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
Applied Digital Corp. $854m 286.2% 115.9%
Mara Holdings, Inc. $804m 0.7% 66.6%
Legalzoom.com, Inc. $792m 12.3% 7.6%
Global-e Online Ltd. $962m 27.8% —
Digitalocean Holdings, Inc. $1.01bn 21.4% 15.9%
Fastly, Inc. $687m 20.4% 13.6%

Compare with peers

Head to head: APLD vs MARAAPLD vs LZAPLD vs GLBE

More: Internet Services & Infrastructure stocks compared, Technology sector, rankings of US companies

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.