Applied Digital Corp. Files Q3 2025 10-Q

Ticker: APLD · Form: 10-Q · Filed: 2025-04-14T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, reporting

TL;DR

APLD filed its Q3 10-Q, covering financials up to Feb 28, 2025. Check for updates.

AI Summary

Applied Digital Corp. filed its 10-Q for the period ending February 28, 2025. The company, formerly known as Applied Blockchain, Inc., is incorporated in Nevada and headquartered in Dallas, Texas. The filing covers the third quarter of their fiscal year, which ends on May 31st. The company's SIC code is 7374 for Computer Processing & Data Preparation services.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Applied Digital Corp., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The company has a history of name changes and operates in the technology sector, which can be volatile.

Key Numbers

05-31 — Fiscal Year End (Indicates the end of the company's financial year.)
20250228 — Reporting Period End Date (Marks the end of the financial period covered by this 10-Q.)

Key Players & Entities

Applied Digital Corp. (company) — Filer of the 10-Q
February 28, 2025 (date) — End of reporting period
May 31 (date) — Fiscal year end
Dallas, Texas (location) — Company headquarters
Applied Blockchain, Inc. (company) — Former company name

FAQ

What is the company's primary business activity?

The company's Standard Industrial Classification (SIC) code is 7374, indicating services in Computer Processing & Data Preparation.

When does Applied Digital Corp.'s fiscal year end?

Applied Digital Corp.'s fiscal year ends on May 31st.

What was the company formerly known as?

The company was formerly known as Applied Blockchain, Inc.

In which state is Applied Digital Corp. incorporated?

Applied Digital Corp. is incorporated in Nevada (NV).

What is the filing date of this 10-Q?

This 10-Q filing was made on April 14, 2025.

From the Filing

0001628280-25-017684.txt : 20250414 0001628280-25-017684.hdr.sgml : 20250414 20250414161707 ACCESSION NUMBER: 0001628280-25-017684 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 88 CONFORMED PERIOD OF REPORT: 20250228 FILED AS OF DATE: 20250414 DATE AS OF CHANGE: 20250414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Applied Digital Corp. CENTRAL INDEX KEY: 0001144879 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] ORGANIZATION NAME: 06 Technology EIN: 954863690 STATE OF INCORPORATION: NV FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-31968 FILM NUMBER: 25836226 BUSINESS ADDRESS: STREET 1: 3811 TURTLE CREEK BLVD., SUITE 2100 CITY: DALLAS STATE: TX ZIP: 75219 BUSINESS PHONE: 214-556-2465 MAIL ADDRESS: STREET 1: 3811 TURTLE CREEK BLVD., SUITE 2100 CITY: DALLAS STATE: TX ZIP: 75219 FORMER COMPANY: FORMER CONFORMED NAME: Applied Blockchain, Inc. DATE OF NAME CHANGE: 20210423 FORMER COMPANY: FORMER CONFORMED NAME: Applied Science Products, Inc. DATE OF NAME CHANGE: 20110118 FORMER COMPANY: FORMER CONFORMED NAME: FLIGHT SAFETY TECHNOLOGIES INC DATE OF NAME CHANGE: 20020926 10-Q 1 apld-20250228.htm 10-Q apld-20250228 0001144879 05-31 2025 Q3 false 0.1025431 P3D 215 220 xbrli:shares iso4217:USD iso4217:USD xbrli:shares apld:segment xbrli:pure apld:agreement apld:day apld:tradingDay apld:plan apld:offering utr:D 0001144879 2024-06-01 2025-02-28 0001144879 2025-04-11 0001144879 2025-02-28 0001144879 2024-05-31 0001144879 us-gaap:NonrelatedPartyMember 2025-02-28 0001144879 us-gaap:NonrelatedPartyMember 2024-05-31 0001144879 us-gaap:RelatedPartyMember 2025-02-28 0001144879 us-gaap:RelatedPartyMember 2024-05-31 0001144879 us-gaap:SeriesEPreferredStockMember 2025-02-28 0001144879 us-gaap:SeriesEPreferredStockMember 2024-05-31 0001144879 apld:SeriesE1PreferredStockMember 2025-02-28 0001144879 apld:SeriesE1PreferredStockMember 2024-05-31 0001144879 us-gaap:NonrelatedPartyMember 2024-12-01 2025-02-28 0001144879 us-gaap:NonrelatedPartyMember 2023-12-01 2024-02-29 0001144879 us-gaap:NonrelatedPartyMember 2024-06-01 2025-02-28 0001144879 us-gaap:NonrelatedPartyMember 2023-06-01 2024-02-29 0001144879 us-gaap:RelatedPartyMember 2024-12-01 2025-02-28 0001144879 us-gaap:RelatedPartyMember 2023-12-01 2024-02-29 0001144879 us-gaap:RelatedPartyMember 2024-06-01 2025-02-28 0001144879 us-gaap:RelatedPartyMember 2023-06-01 2024-02-29 0001144879 2024-12-01 2025-02-28 0001144879 2023-12-01 2024-02-29 0001144879 2023-06-01 2024-02-29 0001144879 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember apld:MaraGardenCityFacilityMember 2024-06-01 2025-02-28 0001144879 us-gaap:SeriesEPreferredStockMember 2024-11-30 0001144879 us-gaap:SeriesFPreferredStockMember 2024-11-30 0001144879 apld:SeriesE1PreferredStockMember 2024-11-30 0001144879 us-gaap:CommonStockMember 2024-11-30 0001144879 us-gaap:TreasuryStockCommonMember 2024-11-30 0001144879 us-gaap:AdditionalPaidInCapitalMember 2024-11-30 0001144879 us-gaap:RetainedEarningsMember 2024-11-30 0001144879 2024-11-30 0001144879 us-gaap:CommonStockMember 2024-12-01 2025-02-28 0001144879 us-gaap:AdditionalPaidInCapitalMember 2024-12-01 2025-02-28 0001144879 apld:SeriesE1PreferredStockMember 2024-12-01 2025-02-28 0001144879 us-gaap:SeriesFPreferredStockMember 2024-12-01 2025-02-28 0001144879 us-gaap:CommonStockMember apld:ConversionOfConvertiblePreferredStockMember 2024-12-01 2025-02-28 0001144879 us-gaap:AdditionalPaidInCapitalMember apld:ConversionOfConvertiblePreferredStockMember 2024-12-01 2025-02-28 0001144879 apld:ConversionOfConvertiblePreferredStockMember 2024-12-01 2025-02-28 0001144879 us-gaap:RetainedEarningsMember 2024-12-01 2025-02-28 0001144879 us-gaap:SeriesFPreferredStockMember 2025-02-28 0001144879 us-gaap:CommonStockMember 2025-02-28 0001144879 us-gaap:TreasuryStockCommonMember 2025-02-28 0001144879 us-gaap:AdditionalPaidInCapitalMember 2025-02-28 0001144879 us-gaap:RetainedEarningsMember 2025-02-2