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

Applied Digital has reported Operating Expenses for 6 years, with the latest figure at $212.3 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 195.42% year-over-year to $212.3 million; the trailing twelve-month figure through Feb 2026 stood at $411.8 million (up 284.0% YoY), and the FY2025 full-year result was $161.0 million, down 4.98% from the prior year.
• Operating Expenses for Q1 2026 stood at $212.3 million, up from $157.5 million in the prior quarter.
• The five-year high for Operating Expenses was $212.3 million in Q1 2026, with the low at -$44.5 million in Q2 2025.
• Historically, Operating Expenses has averaged $48.0 million across 5 years, with a median of $39.0 million in 2022.
• Annual changes were most pronounced in 2022 — Operating Expenses jumped 2781.03% — and 2024, when it sank 185.47%.
• Applied Digital's Operating Expenses stood at $39.0 million in 2022, then advanced by 28.37% to $50.1 million in 2023, then slipped by 2.29% to $49.0 million in 2024, then jumped by 221.73% to $157.5 million in 2025, then soared by 34.76% to $212.3 million in 2026.
• The last three Operating Expenses figures came in at $212.3 million (Q1 2026), $157.5 million (Q4 2025), and $86.5 million (Q3 2025), per Business Quant data.