Applied Digital (APLD) Operating Expenses (2021 - 2026)

Applied Digital's Operating Expenses history runs 6 years deep, the most recent figure standing at $212.3 million for Q1 2026.

• Quarterly Operating Expenses rose 195.42% year-over-year to $212.3 million in Q1 2026, while the trailing twelve-month figure through Feb 2026 was $411.8 million (up 284.0% YoY) and the FY2025 annual result came in at $161.0 million, down 4.98% from the prior year.
• Operating Expenses was $212.3 million for Q1 2026 at Applied Digital, up from $157.5 million in the prior quarter.
• Across five years, Operating Expenses topped out at $212.3 million in Q1 2026 and bottomed at -$44.5 million in Q2 2025.
• A 5-year average of $48.0 million and a median of $39.0 million in 2022 frame the typical range for Operating Expenses.
• Annual changes were most pronounced in 2022 — Operating Expenses jumped 2781.03% — and 2024, when it plunged 185.47%.
• Applied Digital's Operating Expenses stood at $39.0 million in 2022, then grew by 28.37% to $50.1 million in 2023, then declined by 2.29% to $49.0 million in 2024, then soared by 221.73% to $157.5 million in 2025, then surged by 34.76% to $212.3 million in 2026.
• Business Quant data shows APLD's Operating Expenses at $212.3 million in Q1 2026, $157.5 million in Q4 2025, and $86.5 million in Q3 2025.