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Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Applied Digital Corporation is a U.S.-listed owner and developer of digital infrastructure that operates data centers serving cloud, enterprise and high-performance computing customers. Long-term growth drivers include rising data and AI demand, hyperscale and edge expansion, and efforts to improve energy efficiency that may support site economics.
Key investment risks include capital intensity and execution risk in scaling facilities, exposure to energy costs and regulatory changes, and competitive pressure from large cloud providers.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
| Income before tax | -203.61M | -74.28M | -46.13M | -21.95M | -0.57M |
| Minority interest | 0.00M | 0.40M | 0.96M | -0.01M | - |
| Net income | -231.06M | -149.27M | -45.61M | -22.49M | -0.80M |
| Selling general administrative | 83.06M | 98.46M | 55.06M | 19.89M | 0.33M |
| Gross profit | 22.70M | 29.96M | 11.00M | -0.96M | - |
| Reconciled depreciation | 97.94M | 79.36M | 7.27M | 1.12M | 0.00M |
| Ebit | -175.42M | -55.64M | -51.32M | -20.90M | -0.33M |
| Ebitda | -91.82M | -34.16M | -44.05M | -19.37M | -0.33M |
| Depreciation and amortization | 83.60M | 21.48M | 7.27M | 1.53M | 0.00M |
| Non operating income net other | - | - | -0.09M | -0.94M | - |
| Operating income | -72.25M | -15.05M | -44.05M | -20.90M | -0.33M |
| Other operating expenses | 287.76M | 151.67M | 99.45M | 29.45M | 0.33M |
| Interest expense | 17.86M | 18.64M | 1.98M | 0.11M | 0.24M |
| Tax provision | 0.10M | 0.10M | -0.52M | 0.54M | - |
| Net interest income | -14.74M | -26.83M | -1.98M | -0.11M | -0.24M |
| Income tax expense | 0.10M | 0.10M | -0.52M | 0.54M | 0.24M |
| Total revenue | 215.51M | 136.62M | 55.39M | 8.55M | 0.00M |
| Total operating expenses | 94.95M | 45.02M | 55.06M | 19.94M | 0.33M |
| Cost of revenue | 192.81M | 106.65M | 44.39M | 9.51M | - |
| Total other income expense net | -131.35M | -59.23M | -2.07M | -1.05M | -0.24M |
| Discontinued operations | - | - | - | -1.04M | -1.04M |
| Net income from continuing ops | -158.34M | -149.67M | -45.61M | -22.49M | -0.57M |
| Net income applicable to common shares | - | - | -44.65M | -23.52M | -0.57M |
| Breakdown | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
| Total assets | 1870.09M | 762.87M | 263.96M | 119.98M | 15.05M |
| Other current assets | 313.63M | 396.96M | 2.10M | 10.29M | - |
| Total liab | 1236.37M | 638.04M | 194.28M | 40.74M | 17.64M |
| Total stockholder equity | 633.73M | 124.83M | 59.52M | 72.26M | -2.58M |
| Other current liab | 269.83M | 374.22M | 1.63M | 0.02M | 0.12M |
| Common stock | 0.23M | 0.14M | 0.10M | 0.10M | 0.01M |
| Capital stock | 136.27M | 0.14M | 0.10M | 0.10M | 5.23M |
| Retained earnings | -481.06M | -249.99M | -100.72M | -56.07M | -21.62M |
| Other liab | - | - | - | 0.54M | - |
| Other assets | - | - | - | 8.95M | 3.28M |
| Cash | 113.92M | 3.34M | 43.57M | 38.80M | 11.75M |
| Total current liabilities | 558.14M | 554.11M | 115.46M | 29.00M | 2.50M |
| Current deferred revenue | 16.12M | 23.56M | 85.06M | 13.40M | - |
| Net debt | 588.96M | 132.39M | 48.24M | -25.25M | -9.62M |
| Short term debt | 24.66M | 51.80M | 13.99M | 2.34M | 2.13M |
| Short long term debt | 10.33M | 45.92M | 7.95M | 1.33M | 2.13M |
| Short long term debt total | 702.88M | 135.73M | 91.81M | 13.54M | 2.13M |
| Other stockholder equity | 978.51M | 374.68M | 160.13M | 128.23M | 13.81M |
| Property plant equipment | - | - | 195.59M | 64.26M | 0.02M |
| Total current assets | 430.59M | 404.14M | 45.76M | 49.31M | 11.75M |
| Long term investments | 6.07M | 1.20M | - | - | - |
| Net tangible assets | - | - | 59.52M | 72.26M | -7.80M |
| Net receivables | 3.04M | 3.85M | 0.08M | 0.23M | - |
| Long term debt | 677.83M | 79.47M | 68.48M | 5.90M | - |
| Inventory | - | -1.34M | - | - | - |
| Accounts payable | 247.53M | 104.53M | 14.78M | 13.24M | 0.25M |
| Noncontrolling interest in consolidated entity | - | - | 10.16M | 6.98M | - |
| Accumulated other comprehensive income | - | 0.00M | - | - | - |
| Common stock total equity | - | - | 0.10M | 0.10M | - |
| Retained earnings total equity | - | - | -100.72M | -56.07M | - |
| Treasury stock | - | - | -0.06M | -0.06M | - |
| Non currrent assets other | 137.88M | 18.15M | 7.01M | - | - |
| Non current assets total | 1439.50M | 358.72M | 218.20M | 70.67M | 3.30M |
| Capital lease obligations | 14.72M | 302.42M | 15.38M | 6.31M | - |
| Breakdown | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 |
| Investments | -667.65M | -172.44M | -0.81M | -45.87M | -3.30M |
| Change to liabilities | - | - | -6.26M | 6.75M | 0.25M |
| Total cashflows from investing activities | -667.65M | -172.44M | -132.09M | -45.87M | -3.30M |
| Net borrowings | 693.97M | 17.37M | 80.03M | 7.23M | 7.10M |
| Total cash from financing activities | 874.69M | 146.76M | 70.63M | 81.29M | 15.13M |
| Change to operating activities | - | - | 26.00M | 6.43M | 6.43M |
| Net income | -231.06M | -149.67M | -45.61M | -22.49M | -0.57M |
| Change in cash | 89.23M | -11.89M | -2.73M | 34.55M | 11.75M |
| Begin period cash flow | 31.69M | 43.57M | 46.30M | 11.75M | 0.00M |
| End period cash flow | 120.92M | 31.69M | 43.57M | 46.30M | 11.75M |
| Total cash from operating activities | -115.40M | 13.79M | 58.73M | -0.87M | -0.08M |
| Issuance of capital stock | 389.80M | 130.85M | 0.00M | 74.50M | 16.50M |
| Depreciation | 97.94M | 79.36M | 7.27M | 1.12M | 0.00M |
| Other cashflows from investing activities | 18.82M | -30.24M | -2.56M | 12.38M | 9.10M |
| Dividends paid | 2.62M | 0.00M | - | -11.04M | - |
| Change to inventory | - | - | -0.40M | - | - |
| Change to account receivables | -2.93M | -3.77M | 0.14M | -0.23M | -0.23M |
| Sale purchase of stock | -31.34M | -0.86M | 4.15M | 74.28M | - |
| Other cashflows from financing activities | 23.09M | -1.47M | 84.01M | 52.65M | 15.13M |
| Change to netincome | - | - | 32.04M | 4.07M | 0.24M |
| Capital expenditures | 681.60M | 141.81M | 131.28M | 58.25M | 3.30M |
| Change receivables | - | - | 0.14M | -0.23M | - |
| Cash flows other operating | - | - | 71.16M | 10.02M | - |
| Cash and cash equivalents changes | - | - | -2.73M | 34.55M | - |
| Change in working capital | -149.38M | 6.07M | 65.02M | 17.14M | 0.25M |
| Stock based compensation | 22.70M | 17.36M | 32.07M | 12.34M | - |
| Other non cash items | 144.40M | 60.67M | 0.52M | -9.52M | 0.24M |
| Free cash flow | -797.00M | -128.01M | -72.54M | -59.12M | -3.38M |
Sector: Technology Industry: Information Technology Services
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| APLD Applied Digital Corporation |
0.88 4.51% |
20.39 | - | 526.32 | 28.81 | 5.82 | 32.25 | -7.43 |
| IBM International Business Machines |
2.97 1.19% |
253.22 | 22.06 | 18.73 | 3.39 | 6.81 | 4.22 | 16.61 |
| ACN Accenture plc |
8.24 3.50% |
243.40 | 16.00 | 14.29 | 1.66 | 3.84 | 1.65 | 9.80 |
| INFY Infosys Ltd ADR |
-0.02 0.17% |
12.09 | 25.55 | 22.78 | 4.20 | 8.01 | 4.10 | 15.87 |
| FJTSF Fujitsu Limited |
- -% |
28.52 | 21.97 | 14.84 | 0.01 | 3.44 | 1.86 | 11.66 |
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.
3811 Turtle Creek Boulevard, Dallas, TX, United States, 75219
214 427 1704
205
| Name | Title | Year Born |
|---|---|---|
| Mr. Wesley Cummins | Chairman, CEO, Pres, Sec. & Treasurer | 1978 |
| Mr. David Rench | Chief Financial Officer | 1978 |
| Ms. Regina Ingel | Chief Marketing Officer | 1987 |
| Mr. Jason Zhang | Co-Founder & Director | 1993 |
| Mr. Michael Maniscalco | Exec. VP of Technology | NA |
| Mr. Nick Phillips | Exec. VP of Hosting Operations & Public Affairs | NA |
| Mr. John Browder | Director of HR and Recruiting | NA |
| Mr. Etienne Snyman | Exec. VP of Power | NA |
| Mr. Saidal Mohmand | Exec. VP of Fin. | NA |
| Mr. Jeff Nicholas | Exec. VP of Real Estate Devel. | NA |
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