Applied Digital (APLD) Gross Margin (2022 - 2026)
Applied Digital's (APLD) quarterly Gross Margin came in at 37.6% in Q2 2026, up 4371.0% on a YoY basis from 0.84% in Q2 2025, and down 11.5% quarter-over-quarter from 42.49% in Q1 2026.
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Applied Digital (APLD) Gross Margin (2022 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Gross Margin for 5 consecutive years, with 37.6% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 4371.0% year-over-year to 37.6%; the trailing twelve-month figure through May 2026 stood at 32.24% (up 1723.0% YoY), and the FY2026 full-year result was 35.08%, up 2991.0% from the prior year.
- Gross Margin fell to 37.6% in Q2 2026 per APLD's latest filing, from 42.49% in the prior quarter.
- Across five years, Gross Margin topped out at 42.49% in Q1 2026 and bottomed at 102.05% in Q1 2022.
- Historically, Gross Margin has averaged 11.17% across 5 years, with a median of 16.99% in 2025.
- The sharpest annual moves came in 2023 and 2024: Gross Margin jumped 12729 bps in 2023, then plunged 3381 bps in 2024.
- Over 5 years, Gross Margin stood at 4.28% in 2022, then jumped by 589 bps to 29.46% in 2023, then advanced by 27 bps to 37.34% in 2024, then plunged by 45 bps to 20.57% in 2025, then soared by 83 bps to 37.6% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 37.6%, 42.49%, and 20.57% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn | 53.14% |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn | 72.30% |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn | 37.60% |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn | 39.42% |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn | 21.51% |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn | 42.66% |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn | 18.18% |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn | 39.59% |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn | 65.45% |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | -36.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 37.60% |
| Feb 28, 2026 | 42.49% |
| Nov 30, 2025 | 20.57% |
| Aug 31, 2025 | 13.41% |
| May 31, 2025 | -6.11% |
| Feb 28, 2025 | 7.14% |
| Nov 30, 2024 | 37.34% |
| Aug 31, 2024 | 34.74% |
| May 31, 2024 | -5.93% |
| Feb 29, 2024 | -8.57% |
| Nov 30, 2023 | 29.46% |
| Aug 31, 2023 | 30.56% |
| May 31, 2023 | 27.63% |
| Feb 28, 2023 | 25.24% |
| Nov 30, 2022 | 4.28% |
| Aug 31, 2022 | 12.00% |
| May 31, 2022 | 1.20% |
| Feb 28, 2022 | -102.05% |