Applied Digital (APLD) 10-K Summary — Year Ended May 31, 2023
Applied Digital Corporation reported a significant increase in revenue for the latest annual period, though it incurred substantial operating and net losses. The company's operating cash flow was positive, indicating cash generation from operations despite the net loss.
Key takeaway
Year ended May 31, 2023 · FY2025 10-K
Applied Digital Corporation reported a significant increase in revenue for the latest annual period, though it incurred substantial operating and net losses. The company's operating cash flow was positive, indicating cash generation from operations despite the net loss.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$55.4M
Revenue reported for the fiscal year.
Operating income
-$42.9M
Income from operations reported for the year.
Net income
-$45.6M
Net income reported for the year.
Operating cash flow
$58.7M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2021 | $0 | n/a |
| May 31, 2022 | $8.5M | n/a |
| May 31, 2023 | $55.4M | +547.9% |
Business overview
Applied Digital Corporation operates in the digital infrastructure sector. The filing describes its business overview and risk factors, but does not provide specific details on products or services.
Financial performance
Revenue grew substantially compared to the prior year, reaching a reported level. However, operating income and net income were both negative, reflecting significant expenses. Operating cash flow was positive, suggesting the company generated cash from its core operations.
Material risks
The filing lists risk factors in Item 1A, but the supplied text does not include the specific content of those risks. Therefore, no material risks can be identified from the provided context.
Liquidity and capital
The filing does not provide specific information on liquidity or capital allocation strategies beyond the reported cash flow metrics.
What to watch
Monitor whether the company can sustain its revenue growth while reducing operating losses in the next filing.