Applied Digital Corporation
Description
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services high-performance computing (HPC) and artificial intelligence industries in North America. It operates through three segments: Data Center Hosting Business, Cloud Services Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas.
About
CEO
Mr. Wesley Cummins
Employees
150
Instrument type
Common Stock
Sector
Technology
Industry
Information Technology Services
MIC code
XNGS
Address
3811 Turtle Creek Boulevard, Dallas, TX 75219, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 12, 2026 | — | — | — | — |
| Oct 7, 2025 | — | — | — | — |
| Aug 26, 2025 | — | — | — | — |
| Apr 9, 2025 | — | — | — | — |
| Jan 15, 2025 | -0.15 | -0.66 | -0.51 | 340.00% |
Earnings estimate
|
Current Quarter
(Feb 2025)
|
Next Quarter
(May 2025)
|
Current Year
(May 2025)
|
Next Year
(May 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 4 | 4 | 4 | 3 |
| Average estimate | -0.10 | -0.12 | -0.41 | -0.40 |
| Low estimate | -0.18 | -0.30 | -0.71 | -1.15 |
| High estimate | -0.02 | -0.02 | -0.21 | 0.13 |
| Last year EPS | -0.24 | -0.36 | -0.68 | -0.41 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Feb 2025)
57.290%
Next qtr. (May 2025)
65.970%
Current year (May 2025)
40.070%
Next year (May 2026)
1.840%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 |
| Total reported revenue | 165.58M | 55.39M | 8.55M | — | — |
| Cost of revenue | 148.34M | 44.39M | 9.51M | — | — |
| Gross profit | 17.24M | 11.00M | -957,000 | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 98.46M | 55.06M | 19.94M | 332,000 | — |
| Other operating expenses | — | — | — | — | — |
| Operating income | -81.23M | -44.06M | -20.90M | -332,000 | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 26.83M | 1.98M | 112,000 | 236,000 | 263,000 |
| Other income expense | -41.52M | -94,000 | -936,000 | — | — |
| Pretax income | -149.58M | -46.13M | -21.95M | -568,000 | -263,000 |
| Tax provision | 96,000 | -523,000 | 540,000 | — | — |
| Net income | -149.67M | -45.61M | -23.53M | -568,000 | -263,000 |
| Basic EPS | -1.31 | -0.48 | -0.41 | -0.38 | -0.02 |
| Diluted EPS | -1.31 | -0.48 | -0.41 | -0.38 | -0.02 |
| Basic average shares | 114.06M | 93.98M | 57.12M | 1.51M | 16.53M |
| Diluted average shares | 114.06M | 93.98M | 57.12M | 1.51M | 16.53M |
| EBITDA | -23.08M | -36.44M | -19.37M | -331,000 | — |
| Net income from continuing op. | -149.67M | -45.61M | -22.49M | -568,000 | -263,000 |
| Minority interests | 397,000 | 960,000 | 10,000 | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 |
| Total assets | 762.87M | 263.96M | 119.98M | 15.05M | — |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 3.34M | 29.00M | 38.80M | 11.75M | — |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 3.85M | 82,000 | 227,000 | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | 1.45M | — | — |
| Restricted cash | 21.35M | 14.58M | 7.50M | — | — |
| Assets held for sale | 384,000 | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 1.34M | 2.01M | 1.34M | 5,000 | — |
| Non current assets | |||||
| Properties | 382.23M | 20.25M | 20.94M | 21,000 | — |
| Land and improvements | 7.59M | 3.45M | 2.25M | — | — |
| Machinery furniture equipment | 42.07M | 22.86M | 588,000 | 21,000 | — |
| Construction in progress | 190.16M | 108.78M | 18.31M | 3.28M | — |
| Leases | 1.05M | — | — | — | — |
| Accumulated depreciation | -14.41M | -4.94M | -1.01M | -1,000 | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 19.93M | 4.55M | 8.95M | — | — |
| Total liabilities | 638.04M | 194.28M | 40.75M | 17.64M | 2.02M |
| Current liabilities | |||||
| Accounts payable | 116.12M | 6.45M | 13.26M | 249,000 | — |
| Accrued expenses | 26.28M | 9.96M | — | — | — |
| Short term debt | 175.31M | 13.99M | 2.34M | 2.14M | 1.90M |
| Deferred revenue | 54.73M | 85.06M | 13.40M | — | — |
| Tax payable | — | 1.63M | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | 96,000 | — | 16,000 | — | — |
| Non current liabilities | |||||
| Long term debt | 252.50M | 77.82M | 11.21M | — | — |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | 540,000 | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 144,000 | 101,000 | 98,000 | 2,000 | 9,000 |
| Retained earnings | -249.99M | -100.72M | -56.07M | -21.62M | -21.06M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 124.83M | 69.68M | 79.24M | -2.58M | -2.02M |
| Additional paid in capital | 374.74M | 160.19M | 128.29M | 13.88M | 13.87M |
| Treasury stock | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 |
| Minority interest | — | 10.16M | 6.98M | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2001 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | -149.67M | -45.61M | -22.49M | -568,000 | -263,000 | -3.29M | -2.79M | -2.26M | -1.41M | -424,214 | -943,974 | -809,100 |
| Depreciation | 79.36M | 7.61M | 1.12M | 1,000 | — | 323,018 | 90,870 | 108,001 | 125,660 | 88,053 | 59,083 | 44,507 |
| Deferred Taxes | — | -540,000 | 540,000 | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 17.36M | 32.07M | 12.34M | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 58.17M | 410,000 | 18,000 | 236,000 | 263,000 | 447,764 | 50,145 | -145,794 | 22,179 | — | — | — |
| Accounts Receivable | -3.77M | 145,000 | -227,000 | — | — | 41,375 | 90,443 | 518,953 | -135,531 | -513,830 | -157,390 | 395,404 |
| Accounts Payable | 41.84M | -13.75M | 6.42M | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -56.48M | 44.73M | 2.43M | — | — | 122,515 | 81,723 | -212,988 | -14,499 | -4,112 | -14,116 | 16,033 |
| Operating Cash Flow | -13.18M | 25.08M | 146,000 | -331,000 | — | -2.35M | -2.48M | -1.99M | -1.41M | -854,103 | -1.06M | -353,156 |
| Investing Activities | ||||||||||||
| Capital Expenditures | -141.81M | -131.28M | -54.97M | -3.30M | — | -47,912 | -80,536 | -131,233 | -105,542 | -224,805 | -3,355 | -7,967 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -390,000 | -810,000 | — | — | — | — | -4.37M | -16.42M | -11.03M | -7.49M | — | — |
| Sale of Investments | — | — | — | — | — | 825,000 | 9.47M | 17.87M | 11.05M | — | — | — |
| Investing Cash Flow | -172.44M | -132.09M | -54.97M | -3.30M | — | 777,088 | 5.02M | 1.32M | -128,827 | -7.75M | -37,865 | -46,891 |
| Financing Activities | ||||||||||||
| Long-Term Debt Issuance | 144.55M | 82.15M | 7.32M | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -127.18M | -13.39M | -221,000 | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -1.47M | 1.86M | -311,000 | -1.37M | — | — | — | — | — | — | 200,000 | — |
| Financing Cash Flow | 146.76M | 70.63M | 81.29M | 15.14M | — | — | — | 330 | -199,827 | 9.29M | 1.73M | 11,635 |
| Other Cash Details | ||||||||||||
| End Cash Position | 31.69M | 43.57M | 46.30M | 11.75M | — | 877,899 | 2.44M | 145,572 | 494,837 | 2.18M | 1.04M | 277,870 |
| Income Tax Paid | 5,000 | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 17.78M | 1.12M | 112,000 | 236,000 | — | — | — | — | — | — | — | — |
| Free Cash Flow | -128.02M | -72.54M | -55.85M | -3.39M | — | -2.41M | -2.81M | -1.80M | -1.51M | -631,264 | -860,710 | -536,140 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Roxbury/Hood River Small Cap Growth Fund | Oct 31, 2024 | 9,081,810 | 73.56M | 4.07% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 3,538,589 | 28.66M | 1.59% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 3,385,869 | 27.43M | 1.52% |
| Vanguard Information Technology Index Fund | Nov 30, 2024 | 3,057,153 | 24.76M | 1.37% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 1,567,463 | 12.70M | 0.70% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 1,198,286 | 9.71M | 0.54% |
| VanEck ETF Trust-VanEck Digital Transformation ETF | Nov 30, 2024 | 1,173,313 | 9.50M | 0.53% |
| Voya Small Cap Growth Fund | Nov 30, 2024 | 1,064,212 | 8.62M | 0.48% |
| Global X Fds-Global X Blockchain ETF | Nov 30, 2024 | 907,512 | 7.35M | 0.41% |
| Avantis U.S. Small Cap Value ETF | Nov 30, 2024 | 746,332 | 6.05M | 0.33% |
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