APLD - Applied Digital Corporation
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$63.88
DETAILS
HIGH:
$99.00
LOW:
$40.00
MEDIAN:
$65.50
CONSENSUS:
$63.88
UPSIDE:
39.26%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 215.5 | 136.6 | 55.4 | 8.5 | 0 | 0 |
| Cost of Revenue | 192.8 | 106.7 | 44.4 | 21.9 | 0.0 | 0 |
| Gross Profit | 22.7 | 30.0 | 11.0 | (13.3) | (0.0) | 0 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 94.9 | 45.0 | 55.1 | 7.6 | 0.3 | 0 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 94.9 | 45.0 | 55.1 | 7.6 | 0.3 | 0 |
| Operating Income | ||||||
| Operating Income | (72.3) | (15.1) | (44.1) | (20.9) | (0.3) | 0 |
| Interest Expense | 17.9 | 18.6 | 2.0 | 0.1 | 0.2 | 0.3 |
| Interest Income | 3.1 | 0.9 | 0 | 0 | 0 | 0 |
| Profitability | ||||||
| EBITDA | (91.8) | (34.2) | (36.9) | (20.7) | (0.3) | 0 |
| EBIT | (175.4) | (55.6) | (44.1) | (21.8) | (0.3) | 0 |
| Income Before Tax | (203.6) | (74.3) | (46.1) | (21.9) | (0.6) | (0.3) |
| Income Tax Expense | 0.1 | 0.1 | (0.5) | 0.5 | 0 | 0 |
| Net Income | (231.1) | (149.3) | (44.6) | (23.5) | (0.6) | (0.3) |
| Per Share Data | ||||||
| EPS (Basic) | -1.16 | -1.31 | -0.48 | -0.41 | -0.06 | -0.17 |
| EPS (Diluted) | -1.16 | -1.31 | -0.48 | -0.41 | -0.06 | -0.17 |
| Shares Outstanding | 201.2 | 114.1 | 94.0 | 57.1 | 8.9 | 1.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 113.9 | 3.3 | 29.0 | 38.8 | 11.8 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 3.0 | 3.8 | 0.1 | 0.2 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 313.6 | 397.0 | 16.7 | (0.1) | 0 |
| Total Current Assets | 430.6 | 404.1 | 45.8 | 40.4 | 11.8 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 1,294.6 | 339.4 | 211.2 | 70.7 | 3.3 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 7 | 1.2 | 0 | 0 | 0 |
| Other Non-Current Assets | 137.9 | 18.1 | 1.4 | 8.9 | 0 |
| Total Non-Current Assets | 1,439.5 | 358.7 | 218.2 | 79.6 | 3.3 |
| Total Assets | 1,870.1 | 762.9 | 264.0 | 120.0 | 15.1 |
| Current Liabilities | |||||
| Account Payables | 247.5 | 104.5 | 6.4 | 13.3 | 0.2 |
| Short-Term Debt | 10.3 | 45.9 | 8.0 | 1.3 | 0 |
| Deferred Revenue | 16.1 | 23.6 | 85.1 | 13.4 | 0 |
| Other Current Liabilities | 240.3 | 336.5 | 0 | 0 | 0.1 |
| Total Current Liabilities | 558.1 | 554.1 | 115.5 | 29.0 | 2.5 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 677.8 | 79.5 | 68.5 | 5.9 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 5.6 | 0.5 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 1 | 0 | 15.1 |
| Total Non-Current Liabilities | 678.2 | 83.9 | 78.8 | 11.7 | 15.1 |
| Total Liabilities | 1,236.4 | 638.0 | 194.3 | 40.7 | 17.6 |
| Stockholders' Equity | |||||
| Common Stock | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 |
| Retained Earnings | (481.1) | (250.0) | (100.7) | (56.1) | (21.6) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 633.7 | 124.8 | 59.5 | 72.3 | (2.6) |
| Total Liabilities & Equity | 1,870.1 | 762.9 | 264.0 | 120.0 | 15.1 |
| Debt Metrics | |||||
| Total Debt | 702.9 | 135.7 | 91.8 | 13.5 | 2.1 |
| Net Debt | 589.0 | 132.4 | 62.8 | (25.3) | (9.6) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | (231.1) | (149.7) | (45.6) | (22.5) | (0.6) |
| Depreciation & Amortization | 97.9 | 79.4 | 7.6 | 1.1 | 0.0 |
| Stock-Based Compensation | 22.7 | 17.4 | 32.1 | 12.3 | 0 |
| Change in Working Capital | (149.4) | 6.1 | 64.7 | 16.8 | 0.2 |
| Other Non-Cash Items | 144.4 | 60.7 | 0.5 | (9.2) | 0.2 |
| Operating Cash Flow | (115.4) | 13.8 | 58.7 | (0.9) | (0.1) |
| Investing Activities | |||||
| Capital Expenditure | (681.6) | (141.8) | (131.3) | (55.0) | (3.3) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (4.9) | (0.4) | (0.8) | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 18.8 | (30.2) | 0 | 9.1 | 0 |
| Investing Cash Flow | (667.7) | (172.4) | (132.1) | (45.9) | (3.3) |
| Financing Activities | |||||
| Net Debt Issuance | 694.0 | 17.4 | 68.8 | 7.1 | 0 |
| Stock Repurchased | (31.3) | 0 | 0 | 0 | 0 |
| Dividends Paid | (2.6) | 0 | 0 | 0 | 0 |
| Other Financing Activities | (175.1) | (1.5) | 1.9 | (0.3) | (1.4) |
| Financing Cash Flow | 874.7 | 146.8 | 70.6 | 81.3 | 15.1 |
| Cash Position | |||||
| Net Change in Cash | 89.2 | (11.9) | (2.7) | 34.5 | 11.8 |
| Cash at Beginning | 31.7 | 43.6 | 46.3 | 11.8 | 0 |
| Cash at End | 120.9 | 31.7 | 43.6 | 46.3 | 11.8 |
| Free Cash Flow | (797.0) | (128.0) | (72.5) | (55.8) | (3.4) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 215.5 | 136.6 | 55.4 | 8.5 | 0 | 0 |
| Gross Profit | 22.7 | 30.0 | 11.0 | (13.3) | (0.0) | 0 |
| Operating Income | (72.3) | (15.1) | (44.1) | (20.9) | (0.3) | 0 |
| Net Income | (231.1) | (149.3) | (44.6) | (23.5) | (0.6) | (0.3) |
| EPS (Diluted) | -1.16 | -1.31 | -0.48 | -0.41 | -0.06 | -0.17 |
| Balance Sheet | ||||||
| Cash & Equivalents | 113.9 | 3.3 | 29.0 | 38.8 | 11.8 | |
| Total Assets | 1,870.1 | 762.9 | 264.0 | 120.0 | 15.1 | |
| Total Debt | 702.9 | 135.7 | 91.8 | 13.5 | 2.1 | |
| Stockholders' Equity | 633.7 | 124.8 | 59.5 | 72.3 | (2.6) | |
| Cash Flow | ||||||
| Operating Cash Flow | (115.4) | 13.8 | 58.7 | (0.9) | (0.1) | |
| Capital Expenditure | (681.6) | (141.8) | (131.3) | (55.0) | (3.3) | |
| Free Cash Flow | (797.0) | (128.0) | (72.5) | (55.8) | (3.4) | |