APLD at a glance
Applied Digital Corp. (APLD, SEC CIK 1144879) filed its latest 10-K annual report on July 29, 2026, a 10-Q quarterly report on April 8, 2026, an 8-K current report on July 27, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended May 31, 2026 (FY2026), Applied Digital Corp. (APLD) reported revenue of $611.3 million (up 167.5% from FY2025) and a net loss of $250.3 million. Diluted EPS was -$0.91.
- As of June 30, 2026, 36 institutional investment managers tracked by SignalX reported holding Applied Digital Corp. (APLD) shares worth $3.0 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Nottenburg Richard N on August 4, 2026 of 75,000 shares at $31.15 per share.
- In the last 90 days, APLD insiders reported 0 open-market purchases ($0) and 1 open-market sale ($2.3M) on Form 4, a net sale of $2.3M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2026
- $611.3M
- +167.5% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$2.3M
- 13F holders
- 36 funds
- $3.0B · +2 vs prior quarter
- Latest 8-K
- Jul 27, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended May 31, 2026
Management Discussion & Analysis
- Contracted lease portfolio 1,410 MW, ~$36.2B revenue over initial 15-year leases
- Data Center Hosting revenue 25%, HPC Hosting 59% from one major customer each in FY 2026
- Operating data centers 100 MW generating revenue, 1.5 GW under construction or contracted
- Capital raised: $196.4M in ATM offerings, $1.04B from Series G Preferred Stock issuance
- Risks: supply chain delays, construction risks, regulatory scrutiny on AI and energy use
Risk Factors
- Regulatory risk: potential material impact from U.S. tariffs on imports of construction materials, jeopardizing timely completion of HPC and AI projects
- Geopolitical exposure: reliance on North Dakota operations with concentrated regulatory framework, market conditions, and natural disaster risks
- Operational vulnerability: dependence on third-party suppliers for power, risking service failures, price hikes, and supply volatility affecting data centers
- Competitive disruption: AI efficiency advancements could reduce demand for high-power liquid-cooled data center infrastructure, impacting business and results
- Financial risk: significant indebtedness with restrictive covenants, refinancing risk, and potential dilution from $2B preferred stock and convertible notes issuance
Business Overview
- Core business: design, develop, own, operate large-scale HPC data centers for AI, machine learning, and accelerated-compute under long-term leases
- New emphasis: expanded Polaris Forge 2 and Delta Forge 1 & 2 HPC campuses with 710 MW combined capacity under long-term leases signed in 2025-2026
- Strategic shift: accelerated transition from legacy blockchain hosting to AI-focused HPC data centers, targeting ~$36.2B total contracted revenue for 1,410 MW capacity
- Quantitative highlight: workforce growth to ~256 employees as of May 31, 2026, supporting rapid multi-GW HPC capacity expansion pipeline
- Noteworthy fact: separation and Nasdaq listing of cloud business ChronoScale in May 2026, with divestiture plan for exoskeleton Legacy Ekso business
AI summary of the APLD 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Feb 28, 2026
Management Discussion & Analysis
- Revenue $126.6M for quarter, including Data Center Hosting $37.5M, Cloud Services $18.1M, HPC Hosting $71.0M
- HPC Hosting best-performing segment at $71.0M quarterly revenue
- Cloud Services lowest segment at $18.1M and 14% of total quarterly revenue
- $59.7M loss on Cloud Services asset remeasurement after held-for-sale reclassification
- Headwinds: evolving AI regulation, energy scrutiny, financing needs, construction delays, customer concentration, cryptoasset volatility
Risk Factors
- No material changes to 2025 Form 10-K risk factors
- Capital-access risk: Series G commitment increased from $590.0 million to $1.6 billion for Polaris Forge I construction
- Dilution risk: 231,750 Series G preferred shares issued and converted into common stock
- Debt risk: 6.750% senior secured notes due 2031 added during the quarter
- Customer concentration risk: Springing guarantees established for CoreWeave-related obligations in March 2026
AI summary of the APLD 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q4 fiscal 2026 results for quarter ended May 31, 2026
- Press release issued July 27, 2026
Item 3.02: Unregistered Sales of Equity Securities
- Series G Preferred Stock issuance under PEPA relying on Securities Act Section 4(a)(2) private-placement exemption
- Common Stock issuable upon conversion also exempt from registration under Section 4(a)(2)
Item 1.01: Entry into a Material Definitive Agreement
- Revolving credit commitments increased to $430.0M, expanding liquidity but adding secured borrowing capacity
- Facility matures May 28, 2029, with a $430.0M letter-of-credit sub-facility reducing cash borrowing availability
Item 1.01: Entry into a Material Definitive Agreement
- $-denominated note proceeds released from escrow to APLD ComputeCo 2 LLC on June 17, 2026
- ESA Condition satisfied, enabling deployment under the Escrow Agreement and Indenture
AI summaries of APLD 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for APLD
Don't miss the next APLD filing
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- Fund moves. Which tracked funds opened, added or cut APLD, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Mohmand Mohammad Saidal LaVanway | M | Oct 4, 2026 | 81,666 | - |
| Mohmand Mohammad Saidal LaVanway | M | Oct 4, 2026 | 81,666 | - |
| Mohmand Mohammad Saidal LaVanway | F | Oct 4, 2026 | 32,136 | $25.38 |
| Zhang Jason Gechen | F | Sep 12, 2026 | 49,188 | $26.42 |
| Cummins Wes | J | Aug 4, 2026 | 714,685 | - |
| Nottenburg Richard N | Sell | Aug 4, 2026 | 75,000 | $31.15 |
| Mohmand Mohammad Saidal LaVanway | J | Aug 4, 2026 | 13,408 | - |
| Cummins Wes | F | Jul 31, 2026 | 629,600 | $27.39 |
Financial SummaryXBRL
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $228.6M | $611.3M |
| Operating Income | -$99.0M | -$16.8M | -$236.5M |
| Net Income | -$149.3M | -$233.7M | -$250.3M |
| Op. Margin | - | -7.4% | -38.7% |
| Net Margin | - | -102.2% | -40.9% |
| Balance Sheet | |||
| Total Assets | $762.9M | $1.9B | $9.9B |
| Equity | $124.8M | $497.7M | $1.7B |
| ROE | -119.6% | -47.0% | -14.6% |
| Per Share | |||
| EPS | $-1.31 | $-1.16 | $-0.91 |
| Cash Flow | |||
| Operating CF | $13.8M | -$115.4M | $89.7M |
Source: XBRL data in Applied Digital Corp. (APLD)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate APLD share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 36 | $3.02B |
| Q1 2026 | 34 | $2.02B |
| Q4 2025 | 30 | $2.27B |
| Q3 2025 | 30 | $2.31B |
| Q2 2025 | 26 | $685.0M |
| Q1 2025 | 22 | $256.1M |
| Q4 2024 | 19 | $304.0M |
| Q3 2024 | 12 | $207.2M |
- Two Sigma Investments+8.71M (+547%)
- Ameriprise Financial+1.44M (+235%)
- Citadel Advisors LLC+1.07M (+350%)
- Millennium Management+979.6K (+1136%)
- T. Rowe Price Group+940.3K (+110%)
- BlackRock−7.52M (-36%)
- Marex Group plc−3.27M (-96%)
- JPMorgan Chase & Co−1.58M (-91%)
- State Street Corp−1.09M (-20%)
- Vanguard Portfolio Management LLC−1.08M (-7%)
- Tiger Global Management+885.0K
- Third Point LLC+22.0K
- StoneX Group Inc.+11.6K
- Truist Financial+12.7K
- Blackstone Group−211.1K
- Principal Financial Group−15.5K
Source: 13F-HR filings on SEC EDGAR (aggregated from 209 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
APLD filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Aug 6, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 10-K | Jul 29, 2026 | May 31, 2026 | Analysis | |
| 8-K | Jul 27, 2026 | - | Analysis | - |
| 4 | Jul 7, 2026 | - | - | - |
| 8-K | Jun 26, 2026 | - | Analysis | - |
| 4 | Jun 24, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 8-K | Jun 17, 2026 | - | Analysis | - |
| 8-K | Jun 16, 2026 | - | Analysis | - |
| 8-K | Jun 9, 2026 | - | Analysis | |
| 8-K | Jun 9, 2026 | - | Analysis | |
| 8-K | Jun 9, 2026 | - | Analysis | |
| SC 13D | May 12, 2026 | - | - | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 4 | Apr 30, 2026 | - | - | - |
| SC 13G | Apr 28, 2026 | - | - | |
| 4 | Apr 28, 2026 | - | - | - |
| 8-K | Apr 23, 2026 | - | Analysis | - |
| 8-K | Apr 16, 2026 | - | Analysis | - |
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APLD SEC filings: frequently asked questions
Are APLD insiders buying or selling?
In the last 90 days, Applied Digital Corp. (APLD) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $2.3 million by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold APLD stock?
As of June 30, 2026, the largest Applied Digital Corp. (APLD) holders among the 13F filers tracked by SignalX were Vanguard Portfolio Management LLC ($512.1 million), BlackRock ($498.9 million), Vanguard Capital Management LLC ($431.0 million), Two Sigma Investments ($384.2 million), Goldman Sachs Group ($260.4 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was APLD's revenue in fiscal year 2026?
For the fiscal year ended May 31, 2026 (FY2026), Applied Digital Corp. (APLD) reported revenue of $611.3 million (up 167.5% from FY2025) and a net loss of $250.3 million. Diluted EPS was -$0.91. The figures come from the XBRL data in the 10-K.
What are the main risks in APLD's latest 10-K?
In the 10-K filed July 29, 2026, Applied Digital Corp. (APLD) flagged: Regulatory risk: potential material impact from U.S. tariffs on imports of construction materials, jeopardizing timely completion of HPC and AI projects. Geopolitical exposure: reliance on North Dakota operations with concentrated regulatory framework, market conditions, and natural disaster risks. (AI summary of the Risk Factors section.)
What did APLD report in its latest 8-K?
Applied Digital Corp. (APLD) filed an 8-K on July 27, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q4 fiscal 2026 results for quarter ended May 31, 2026.
What are the latest APLD SEC filings?
Applied Digital Corp. (APLD) filed its latest 10-K annual report on July 29, 2026, a 10-Q quarterly report on April 8, 2026, an 8-K current report on July 27, 2026 and a Form 4 insider filing on October 5, 2026.
What is APLD's SEC CIK number?
Applied Digital Corp. (APLD)'s SEC Central Index Key (CIK) is 1144879. EDGAR lists every APLD filing under that number.
Ask anything about APLD
The research agent reads APLD's filings, financials, insider trades and 13F holders, then answers with sources.