APLD Applied Digital Corp.
FY2025 10-K
Applied Digital Corp. (APLD) filed its fiscal year 2025 10-K annual report with the SEC on Jul 30, 2025. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business model: Designer, developer, and operator of next-generation data centers for HPC, AI, and blockchain hosting in North America
- • Strategic shift: Cloud Services Business classified as held for sale, excluded from continuing operations and segment results starting FY2025
Management Discussion & Analysis
- • Revenue from continuing operations $0; Data Center Hosting Business only; Cloud Services Business discontinued with $84.4M revenue FY25
- • Operating results: HPC Hosting Business pre-revenue; Data Center Hosting at full capacity (286 MW total) but no specific margin data disclosed
Risk Factors
- • Regulatory risk from SEC inquiries on trading and short selling activities affecting stock liquidity and compliance costs
- • Geopolitical threat from U.S. tariffs on construction materials and specialized electricity equipment delaying HPC and AI projects
Financial SummaryXBRL
Revenue
$144M
Net Income
-$234M
Operating Margin
-11.7%
Net Margin
-162.1%
ROE
-47.0%
Total Assets
$1.9B
EPS (Diluted)
$-1.16
Operating Cash Flow
-$115M
Source: XBRL data from Applied Digital Corp. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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