Applied Digital reported revenue of $258.75M and net income of -$147.31M for the quarter ended May 2026, up 406.6% year over year. This income statement covers 21 quarters of results from May 2021 through May 2026, standardized by Business Quant from the company’s SEC filings.
| Income Statement | May2021 | Aug2021 | Nov2021 | Feb2022 | May2022 | Aug2022 | Nov2022 | Feb2023 | May2023 | Aug2023 | Nov2023 | Feb2024 | May2024 | Aug2024 | Nov2024 | Feb2025 | May2025 | Aug2025 | Nov2025 | Feb2026 | May2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue & cost | |||||||||||||||||||||
| Revenue | 1.03M | 7.52M | 6.92M | 12.34M | 14.09M | 22.04M | 36.32M | 42.20M | 43.35M | 43.70M | 34.85M | 36.16M | 52.92M | 51.08M | 64.22M | 126.59M | 126.64M | 258.75M | |||
| Cost of RevenueCost of Rev | 2.07M | 7.43M | 6.09M | 11.81M | 10.53M | 15.94M | 25.22M | 29.77M | 47.06M | 46.29M | 22.74M | 22.66M | 49.14M | 54.20M | 55.61M | 100.55M | 72.83M | 161.46M | |||
| Gross Profit | -1.05M | 0.09M | 0.83M | 0.53M | 3.56M | 6.09M | 11.10M | 12.43M | -3.71M | -2.59M | 12.11M | 13.50M | 3.78M | -3.12M | 8.61M | 26.04M | 53.80M | 97.29M | |||
| Operating items | |||||||||||||||||||||
| Depreciation & Amortization - TotalDep. & Amort. (Tot) | 0.00M | 0.20M | 0.24M | 0.76M | 0.84M | 0.80M | |||||||||||||||
| Selling, General & AdministrativeSG&A | 0.70M | 1.18M | 1.37M | 4.36M | 5.01M | 27.23M | 10.55M | 11.14M | 16.17M | 20.27M | 30.02M | 31.32M | 10.99M | 25.97M | 22.72M | 41.02M | 29.15M | 56.99M | 79.72M | 165.28M | |
| Other Operating ExpensesOther Opex | 12.34M | -0.03M | -0.24M | -0.76M | -2.30M | -0.08M | -21.72M | 6.31M | 24.81M | -0.19M | -1.75M | -59.65M | |||||||||
| Operating ExpensesOpex | 13.04M | 1.35M | 1.37M | 4.36M | 11.10M | 39.04M | 21.08M | 27.07M | 43.69M | 50.12M | 98.80M | 71.30M | 9.56M | 48.97M | 71.86M | 95.18M | 86.51M | 157.55M | 212.30M | 383.57M | |
| Operating IncomeOp. Inc | -13.04M | -1.35M | -2.42M | -4.27M | -4.18M | -26.70M | -6.99M | -5.04M | -7.37M | -7.91M | -55.46M | -27.60M | 25.29M | -12.80M | -18.94M | -44.10M | -22.29M | -30.96M | -85.67M | -124.82M | |
| EBIT | -13.04M | -1.35M | -2.42M | -4.27M | -4.18M | -26.70M | -6.99M | -5.04M | -7.37M | -7.91M | -55.46M | -27.60M | 25.29M | -12.80M | -18.94M | -44.10M | -22.29M | -30.96M | -85.67M | -124.82M | |
| Non-operating items | |||||||||||||||||||||
| Non Operating Interest Expenses | 0.11M | 0.36M | 0.36M | 0.35M | 0.94M | 2.13M | 2.62M | 4.77M | 18.00M | 2.96M | 2.93M | 8.90M | 8.45M | 3.95M | 11.48M | -2.39M | 10.63M | ||||
| Non Operating Investment IncomeNon-Op. Investment Inc. | 2.77M | 3.31M | 4.77M | ||||||||||||||||||
| Other Non Operating IncomeOther Non Op Inc. | -1.34M | -0.09M | -2.35M | 2.35M | -1.18M | 1.18M | 13.13M | 9.42M | 53.27M | ||||||||||||
| Non Operating IncomeNon Op. Inc. | -1.30M | 0.08M | -0.11M | -0.45M | -0.39M | -0.38M | -0.85M | ||||||||||||||
| Net income details | |||||||||||||||||||||
| EBT | -14.34M | -1.35M | -2.34M | -4.38M | -4.63M | -27.06M | -7.34M | -5.98M | -11.85M | -10.53M | -62.84M | -64.35M | 15.91M | -128.36M | -35.44M | -52.55M | -26.24M | -26.55M | -70.56M | -79.62M | |
| Tax ProvisionsTaxes | 0.21M | 0.06M | 0.27M | 0.03M | -0.31M | -0.24M | 0.10M | 0.00M | 0.12M | -0.02M | 0.01M | 0.01M | -0.00M | 1.77M | |||||||
| Profit After TaxPAT | -14.34M | -1.57M | -6.45M | -2.82M | -4.66M | -26.75M | -7.34M | -6.86M | -11.85M | -10.53M | -62.84M | -64.45M | 15.91M | -138.73M | -35.55M | -55.15M | -27.82M | -31.20M | -70.56M | -147.31M | |
| Income from Non-Controlling InterestsInc. Minority | -0.01M | -0.13M | -0.13M | -0.32M | -0.38M | -0.40M | |||||||||||||||
| Income from Continuing OperationsIncome (Continuing) | -14.34M | -1.57M | -2.40M | -4.64M | -4.66M | -26.75M | -7.34M | -5.74M | -11.85M | -10.53M | -62.84M | -64.45M | 15.91M | -128.36M | -35.55M | -52.54M | -26.25M | -26.56M | -70.56M | -81.39M | |
| Income from Discontinued OperationsIncome (Discontinued) | 0.24M | 1.40M | -4.05M | -1.04M | -1.12M | -21.72M | 21.72M | -20.16M | -10.36M | 9.32M | 12.11M | ||||||||||
| Consolidated Net IncomeConsol Net Inc. | -14.10M | -0.17M | -6.45M | -5.69M | -4.66M | -26.75M | -7.34M | -6.86M | -11.85M | -10.53M | -84.56M | -42.73M | -4.25M | -138.73M | -35.55M | -52.54M | -16.93M | -14.45M | -70.56M | -81.39M | |
| Income towards Parent CompanyParent Net Inc | -14.10M | -0.17M | -6.45M | -5.69M | -4.66M | -26.75M | -7.34M | -6.86M | -11.85M | -10.53M | -84.56M | -42.73M | -4.25M | -138.73M | -35.55M | -52.54M | -16.93M | -14.45M | -70.56M | -81.39M | |
| Preferred Dividend PaymentsPref Dividends | 0.40M | 0.04M | 0.63M | 0.54M | 1.40M | 1.58M | 3.06M | 28.75M | 27.75M | ||||||||||||
| Net Income towards Common StockholdersNet Income | -14.10M | -0.17M | -6.45M | -5.69M | -4.66M | -26.75M | -7.34M | -6.86M | -11.46M | -10.53M | -62.84M | -64.45M | -4.29M | -139.35M | -36.09M | -53.94M | -18.50M | -19.08M | -100.86M | -111.72M | |
| Additional items | |||||||||||||||||||||
| EPS (Basic) | -0.31 | 0.00 | -0.12 | -0.10 | -0.05 | -0.29 | -0.08 | -0.07 | -0.11 | -0.10 | -0.52 | -0.57 | -0.03 | -0.66 | -0.16 | -0.27 | -0.07 | -0.07 | -0.36 | -0.41 | |
| EPS (Diluted) | -0.31 | 0.00 | -0.12 | -0.10 | -0.05 | -0.29 | -0.08 | -0.07 | -0.11 | -0.10 | -0.52 | -0.57 | -0.03 | -0.66 | -0.16 | -0.27 | -0.07 | -0.07 | -0.36 | -0.41 | |
| Shares Outstanding | 44.94M | 53.40M | 53.40M | 57.12M | 93.11M | 93.42M | 94.12M | 93.98M | 100.52M | 109.66M | 121.43M | 114.06M | 149.01M | 209.56M | 222.45M | 201.19M | 255.89M | 277.42M | 281.98M | 275.19M | |
| Shares Outstanding (Diluted)Shares Outstanding (Dil.) | 44.94M | 53.40M | 53.40M | 57.12M | 93.11M | 93.42M | 94.12M | 93.98M | 100.52M | 109.66M | 121.43M | 114.06M | 149.01M | 209.56M | 222.45M | 201.19M | 255.89M | 277.42M | 281.98M | 275.19M | |
| Shares Outstanding (Entity)Shares Outstanding (Entity.) | 53.40M | 53.40M | 53.40M | 57.12M | 92.84M | 93.95M | 94.47M | 95.93M | 105.85M | 117.73M | 122.42M | 114.06M | 157.44M | 216.56M | 224.39M | 224.91M | 269.29M | 279.08M | 285.38M | 287.88M | |
| EBITDA | -13.04M | -1.16M | -2.17M | -3.51M | -3.34M | -25.90M | -6.99M | -5.04M | -7.37M | -7.91M | -55.46M | -27.60M | 25.29M | -12.80M | -18.94M | -44.10M | -22.29M | -30.96M | -85.67M | -124.82M | |
| Interest ExpensesInt Expense | 0.11M | 0.36M | 0.36M | 0.35M | 0.94M | 2.13M | 2.62M | 4.77M | 18.00M | 2.96M | 2.93M | 8.90M | 8.45M | 3.95M | 11.48M | -2.39M | 10.63M | ||||
| Tax Rate | -15.79% | -2.57% | -6.08% | -0.69% | 1.15% | 4.06% | -0.15% | 0.00% | -0.33% | 0.03% | -0.03% | -0.06% | 0.00% | -2.22% |