Filing Flows

Filing Flows › Companies › Applied Digital › Cash flow

Applied Digital cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$2.0B in Q1 FY27 · −$4.5B over twelve months

Operating cash flow$63.9M
Capital spending−$2.1B
Free cash flow−$2.0B
Cash conversion cycle-114 days

Analysis

In Q1 FY27, Applied Digital generated $63.9M of operating cash flow and spent $2.1B on capital projects, leaving free cash flow of −$2.0B. That is $1.7B less than in Q1 FY26 (−$331M).

Over the twelve months to Aug 31, 2026, operating cash flow was $235M; the largest uses were capital spending ($4.7B), taxes on employees’ shares ($131M), net borrowing (+) / repaid (−) ($83.8M); besides operations, cash came from other financing ($5.6B), partners ($1.8B); the cash balance rose by $3.6B.

Operating cash flow was $63.9M against net income of −$184M. The largest differences: accrued liabilities +$107M, stock-based pay +$66.5M, receivables −$57.0M.

Its cash conversion cycle was -114 days (receivables 23 + inventory 0 − payables 137): suppliers fund its working capital.

Free cash flow

Applied Digital: free cash flow by quarterApplied Digital: free cash flow by quarter−$223MQ2 FY25−$252MQ3 FY25−$191MQ4 FY25−$331MQ1 FY26−$568MQ2 FY26−$720MQ3 FY26−$1.2BQ4 FY26−$2.0BQ1 FY27
Operating cash flow less capital spending.
Applied Digital: operating cash flow against capital spendingApplied Digital: operating cash flow against capital spendingOperating cash flowCapital spending−$52.3M$171MQ2 FY25$5.9M$257MQ3 FY25$6.9M$198MQ4 FY25−$81.5M$250MQ1 FY26−$16.3M$552MQ2 FY26$55.0M$775MQ3 FY26$133M$1.3BQ4 FY26$63.9M$2.1BQ1 FY27
Latest (Q1 FY27): Operating cash flow $63.9M, Capital spending $2.1B.

Capital allocation, year by year

Applied Digital: where the cash came from (up) and went (down), by fiscal yearApplied Digital: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow −$872KFY22: Net borrowing −$221KFY22: Shares issued $74.5MFY22: Capital spending −$58.3M$74.5MFY22FY23: Operating cash flow $58.7MFY23: Net borrowing −$3.4MFY23: Capital spending −$131M$58.7MFY23FY24: Operating cash flow $13.8MFY24: Net borrowing −$60.0MFY24: Shares issued $131MFY24: Asset sales $19.9MFY24: Capital spending −$142M$164MFY24FY25: Operating cash flow −$115MFY25: Net borrowing $325MFY25: Shares issued $390MFY25: Asset sales $25.0MFY25: Capital spending −$682MFY25: Buybacks −$31.3M$740MFY25FY26: Operating cash flow $89.7MFY26: Net borrowing −$99.5MFY26: Shares issued $1.0BFY26: Capital spending −$2.9B$1.1BFY26
Over these 5 years operating cash flow totalled $45.9M; the largest uses were capital spending ($3.9B) and net borrowing ($163M). Cash-flow statements as filed.

Where the cash came from and went

Applied Digital: sources (+) and uses (−) of cash, Q1 FY27Applied Digital: sources (+) and uses (−) of cash, Q1 FY27Capital spending−$2.1BOther financing$1.3BCash drawn (+) / kept (−)$475MShares issued$275MTaxes on employees’ shares−$99.4MNet borrowing (+) / repaid (−)$68.1MOperating cash flow$63.9MOther investing−$8.2MPartners$1.3M
Applied Digital: sources (+) and uses (−) of cash, TTM to Q1 FY27Applied Digital: sources (+) and uses (−) of cash, TTM to Q1 FY27Other financing$5.6BCapital spending−$4.7BCash drawn (+) / kept (−)−$3.6BPartners$1.8BShares issued$915MOperating cash flow$235MTaxes on employees’ shares−$131MNet borrowing (+) / repaid (−)−$83.8MOther investing−$78.8M

From profit to cash

Applied Digital: net income to operating cash flow, Q1 FY27Applied Digital: net income to operating cash flow, Q1 FY27Net income−$184MDepreciation & amortization$41.9MStock-based pay$66.5MGains on investments$11.4MReceivables−$57.0MPayables−$8.0MAccrued liabilities$107MDeferred revenue$34.5MPrepaid and other assets−$47.8MOther liabilities$1.9MOperating cash flow$63.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2723—137-114
Q3 FY2612—291-278
Q2 FY2615—120-105
Q1 FY2620—332-311
Q3 FY2523—332-309
Q2 FY2518—667-649

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$63.9M−$2.1B$68.1M$275M$475M−$2.0B
Q4 FY26$133M−$1.3B−$5.0M$75.0M−$2.0B−$1.2B
Q3 FY26$55.0M−$775M−$24.4M$150M$188M−$720M
Q2 FY26−$16.3M−$552M−$21.6M$415M−$2.2B−$568M
Q1 FY26−$81.5M−$250M−$29.9M$371M$9.2M−$331M
Q4 FY25$6.9M−$198M−$31.1M$97.7M$138M−$191M
Q3 FY25$5.9M−$257M−$31.8M$33.4M$53.4M−$252M
Q2 FY25−$52.3M−$171M−$36.1M$166M−$228M−$223M

Applied Digital: income statement and cash flow

Applied Digital, Q1 FY27: revenue $342M (+322% year over year), operating margin -18.2%. The chart follows the revenue to costs, profit and cash.

Applied Digital: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.