Applied Digital (APLD) Operating Leases (2022 - 2026)
Applied Digital's (APLD) quarterly Operating Leases came in at $124.0 million in Q2 2026, up 110.85% on a YoY basis from $58.8 million in Q2 2025, and down 8.03% quarter-over-quarter from $134.8 million in Q1 2026.
Analysis
Applied Digital (APLD) Operating Leases (2022 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Operating Leases for 5 consecutive years, with $124.0 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Leases rose 110.85% year-over-year to $124.0 million; the trailing twelve-month figure through May 2026 stood at $124.0 million (up 110.85% YoY), and the FY2026 full-year result was $124.0 million, up 110.85% from the prior year.
- Operating Leases eased to $124.0 million in Q2 2026 per APLD's latest filing, from $134.8 million in the prior quarter.
- Across five years, Operating Leases topped out at $319.8 million in Q4 2024 and bottomed at $936000.0 in Q2 2022.
- Historically, Operating Leases has averaged $94.4 million across 5 years, with a median of $35.8 million in 2025.
- The widest YoY moves for Operating Leases: up 5385.07% in 2025, down 99.34% in 2025.
- Over 5 years, Operating Leases stood at $8.6 million in 2022, then surged by 1530.91% to $140.8 million in 2023, then soared by 127.21% to $319.8 million in 2024, then tumbled by 99.34% to $2.1 million in 2025, then surged by 5772.95% to $124.0 million in 2026.
- According to Business Quant data, Operating Leases over the past three periods registered $124.0 million, $134.8 million, and $2.1 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 123.98 Mn |
| Feb 28, 2026 | 134.81 Mn |
| Nov 30, 2025 | 2.11 Mn |
| Aug 31, 2025 | 12.87 Mn |
| May 31, 2025 | 58.80 Mn |
| Feb 28, 2025 | 304.54 Mn |
| Nov 30, 2024 | 319.83 Mn |
| Aug 31, 2024 | 282.18 Mn |
| May 31, 2024 | 1.07 Mn |
| Feb 29, 2024 | 232.52 Mn |
| Nov 30, 2023 | 140.76 Mn |
| Aug 31, 2023 | 59.92 Mn |
| May 31, 2023 | 1.01 Mn |
| Feb 28, 2023 | 8.49 Mn |
| Nov 30, 2022 | 8.63 Mn |
| Aug 31, 2022 | 5.62 Mn |
| May 31, 2022 | 936,000.00 |
| Feb 28, 2022 | 1.22 Mn |