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APLD · Software & cloud · U.S.

Applied Digital

Builds and runs data centers for AI computers.

Company Health

25
/100
Weak
A quick check of the business from its yearly reports (2023–2026). It doesn’t say whether the stock is a good buy.
Does it make money?
0 of 25 · Poor
It lost money last year: $30 of every $100 in sales.
Is it growing?
25 of 25 · Good
Sales grew about 123% a year over the last 3 years.
Can it handle what it owes?
0 of 25 · Poor
It would take about 51 years of the cash its business brings in to pay off everything it owes.
Does it bring in spare cash?
0 of 25 · Poor
It spent more cash than it brought in: $454 of every $100 in sales.

Who owns it

1 of 23 own it · 1 bought more lately
bought lately
owns it
doesn’t own it
Didn’t report owning it: Whale Rock, Appaloosa, Melqart, Coatue, D1 Capital, Light Street, Lone Pine, TCI, Pershing Square, Duquesne, Himalaya Capital, Greenlight, Giverny Capital, Fundsmith, Semper Augustus, Akre
Their letters don’t mention it: Arquitos, Laughing Water, Alluvial, Bireme, Kingdom Capital, Saga Partners
From each fund’s latest 13F report (Jun 30, 2026). Funds that don’t file one: from their own letters.

The numbers

From Applied Digital’s yearly reports. Tap a year to see its figures.

Sales and profit

Sales went from $0 in the year to May 2021 to $611 million in the year to May 2026, and it lost money every year.
FY2026
Sales
$611 million
Loss
$184 million

Spare cash each year

It spent more cash than it brought in every year: $2.78 billion more in the year to May 2026.
FY2026
Cash shortfall
$2.78 billion
Spare cash is the cash its business brought in, minus what it spent on buildings and equipment.

What it owns and what it owes

At the end of May 2026 it owned $9.93 billion, including $1.59 billion in cash, and owed $6.19 billion.

Key facts

From its yearly report for the year to May 2026.
Sales
$611 million
Loss
$184 million
Cash shortfall
$2.78 billion
Cash in the bank
$1.59 billion
Everything it owes
$6.19 billion
Year ends
May
Money shown in
U.S. dollars
Latest yearly report
10-K, filed Jul 29, 2026
Figures from Applied Digital’s yearly reports to the SEC (EDGAR), collected Oct 12, 2026.
Not investment advice. Holdings come from public SEC reports and the funds’ own letters, and can be up to 4½ months old. How this works
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