Applied Digital annual net debt
2022
2023
2024
2025
2026
Applied Digital Net Debt Growth & History (APLD)
Applied Digital's net debt was −$1.47B for fiscal 2026.
View full Applied Digital company overviewApplied Digital annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-05-31 | −$1.47B | −$1.44B | — |
| 2025 | 2025-05-31 | −$29.2M | −$328.3M | — |
| 2024 | 2024-05-31 | $299.1M | $312.7M | — |
| 2023 | 2023-05-31 | −$13.6M | $11.7M | — |
| 2022 | 2022-05-31 | −$25.3M | — | — |
Applied Digital quarterly net debt
Q3.22
Q4.22
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
Q4.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | −$1.47B | −$1.44B | — |
| Q3 2026 | 2026-02-28 | −$1.60B | −$1.83B | — |
| Q2 2026 | 2025-11-30 | −$1.91B | −$1.94B | — |
| Q1 2026 | 2025-08-31 | −$61.0M | −$285.0M | — |
| Q4 2025 | 2025-05-31 | −$29.2M | −$328.3M | — |
| Q3 2025 | 2025-02-28 | $235.8M | $7.7M | +3.38% |
| Q2 2025 | 2024-11-30 | $33.6M | −$98.0M | −74.47% |
| Q1 2025 | 2024-08-31 | $224.0M | $170.0M | +314.91% |
| Q4 2024 | 2024-05-31 | $299.1M | $312.7M | — |
| Q3 2024 | 2024-02-29 | $228.1M | — | — |
| Q2 2024 | 2023-11-30 | $131.5M | — | — |
| Q1 2024 | 2023-08-31 | $54.0M | — | — |
| Q4 2023 | 2023-05-31 | −$13.6M | $11.7M | — |
| Q4 2022 | 2022-05-31 | −$25.3M | — | — |
| Q3 2022 | 2022-02-28 | −$10.7M | — | — |
Applied Digital net debt trends
Between the periods ended 2022-05-31 and 2026-05-31, Applied Digital's net debt decreased from −$25.3M to −$1.47B, a change of −$1.44B. The latest reported quarter, Q4 2026, shows −$1.47B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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