Applied Digital (APLD) Operating Income (2021 - 2026)
Applied Digital's (APLD) quarterly Operating Income came in at -$124.8 million in Q2 2026, down 183.03% on a YoY basis from $150.3 million in Q2 2025, and down 45.7% quarter-over-quarter from -$85.7 million in Q1 2026.
Analysis
Applied Digital (APLD) Operating Income (2021 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Operating Income for 6 consecutive years, with -$124.8 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Income fell 183.03% year-over-year to -$124.8 million; the trailing twelve-month figure through May 2026 stood at -$263.7 million (down 421.67% YoY), and the FY2026 full-year result was -$236.5 million, down 227.62% from the prior year.
- Operating Income retreated to -$124.8 million in Q2 2026 per APLD's latest filing, from -$85.7 million in the prior quarter.
- Across five years, Operating Income topped out at $25.3 million in Q3 2024 and bottomed at -$124.8 million in Q2 2026.
- Historically, Operating Income has averaged -$25.7 million across 5 years, with a median of -$15.9 million in 2024.
- The sharpest annual moves came in 2022 and 2024: Operating Income tumbled 1870.33% in 2022, then surged 443.28% in 2024.
- Over 5 years, Operating Income stood at -$26.7 million in 2022, then soared by 70.36% to -$7.9 million in 2023, then sank by 61.84% to -$12.8 million in 2024, then plunged by 141.76% to -$31.0 million in 2025, then sank by 303.2% to -$124.8 million in 2026.
- According to Business Quant data, Operating Income over the past three periods registered -$124.8 million, -$85.7 million, and -$31.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 665.00 Mn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | -140.45 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | -78.54 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | -124.82 Mn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 64.73 Mn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | -78.47 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 33.79 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | 11.79 Mn |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | -9.26 Mn |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | -9.64 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | -124.82 Mn |
| Feb 28, 2026 | -85.67 Mn |
| Nov 30, 2025 | -30.96 Mn |
| Aug 31, 2025 | -22.29 Mn |
| May 31, 2025 | -44.10 Mn |
| Feb 28, 2025 | -18.94 Mn |
| Nov 30, 2024 | -12.81 Mn |
| Aug 31, 2024 | 25.29 Mn |
| May 31, 2024 | -27.60 Mn |
| Feb 29, 2024 | -55.46 Mn |
| Nov 30, 2023 | -7.91 Mn |
| Aug 31, 2023 | -7.37 Mn |
| May 31, 2023 | -5.04 Mn |
| Feb 28, 2023 | -6.99 Mn |
| Nov 30, 2022 | -26.70 Mn |
| Aug 31, 2022 | -4.18 Mn |
| May 31, 2022 | -4.27 Mn |
| Feb 28, 2022 | -2.42 Mn |
| Nov 30, 2021 | -1.36 Mn |
| Aug 31, 2021 | -13.04 Mn |