APPLIED DIGITAL CORPORATION
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | $611.3M | $228.6M | $165.6M | $55.4M | $8.5M | $0 |
| Cost of Revenue | $396.9M | $216.8M | $148.3M | $44.4M | $9.5M | $0 |
| Gross Profit | $214.5M | $11.8M | $17.2M | $11.0M | $-957.0K | $0 |
| Gross Margin | 35.1% | 5.2% | 10.4% | 19.9% | -11.2% | — |
| Operating Expenses | ||||||
| Research & Development | — | — | — | — | — | — |
| SG&A Expense | $332.1M | $107.9M | $97.8M | $53.9M | $19.9M | $332.0K |
| Operating Income | $-236.5M | $-72.2M | $-98.3M | $-42.9M | $-20.9M | $-332.0K |
| Operating Margin | -38.7% | -31.6% | -59.4% | -77.5% | -244.4% | — |
| Interest Expense | — | — | $26.8M | $2.0M | $112.0K | $236.0K |
| Pretax Income | $-181.5M | $-231.0M | $-149.6M | $-45.0M | $-21.9M | $-568.0K |
| Income Tax Expense | $1.8M | $102.0K | $96.0K | $-523.0K | $540.0K | $0 |
| Net Income | $-184.3M | $-231.1M | $-149.3M | $-44.6M | $-23.5M | $-568.0K |
| Net Margin | -30.2% | -101.1% | -90.2% | -80.6% | -275.1% | — |
| EPS (Basic) | $-0.91 | $-1.16 | $-1.31 | $-0.47 | $-0.41 | $-0.01 |
| EPS (Diluted) | $-0.91 | $-1.16 | $-1.31 | $-0.47 | $-0.41 | $-0.01 |
| Shares Outstanding (Basic) | 275.2M | 201.2M | 114.1M | 94.0M | 57.1M | 57.4M |
| Shares Outstanding (Diluted) | 275.2M | 201.2M | 114.1M | 94.0M | 57.1M | 57.4M |
| Dividends Per Share | — | — | — | — | — | — |