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Applied Digital (APLD) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Apr 8, 2026
Applied Digital (APLD) reported revenue of $127M for the third quarter fiscal 2026 (Q3 FY26), +139% from a year earlier and 0% from the quarter before. Operating margin was -67.6%, net loss $70.6M (55.7% of revenue).
Applied Digital, Q3 FY26: revenue $127M (+139% year over year), operating margin -67.6%, net loss $70.6M, operating cash flow $55.0M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $127M | 0% | +139% |
| Operating profit | −$85.7M | — | — |
| Net earnings | −$70.6M | — | — |
| Operating cash flow | $55.0M | — | +833% |
What changed
Revenue was $126.6M in Q3 FY26, up 139% year over year and roughly flat from the previous quarter. HPC Hosting Business was the largest line at 56% of revenue. Data Center Hosting Business added $2.4M year over year (up 7%), 3% of the total change.
Operating costs exceeded revenue by $85.7M, an operating margin of -67.6%. Total costs grew 195% against revenue growth of 139%. The fastest-growing cost line was SG&A (+251%). The quarter ended with a net loss of $70.6M, wider than the previous quarter's $14.4M loss. Non-operating items added $15.1M, -21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $55.0M (up 833% year over year). Non-cash charges added back $20.8M of depreciation and amortization and $50.1M of share-based compensation. Working capital and other items added $54.6M. Capital expenditures of $775.2M exceeded it, leaving free cash flow of −$720.2M.
Questions
What was Applied Digital's revenue in the third quarter fiscal 2026?
Applied Digital (APLD) reported revenue of $127M for the third quarter fiscal 2026 (Q3 FY26), +139% from a year earlier and 0% from the quarter before.
Was Applied Digital profitable in the third quarter fiscal 2026?
Operating loss was $85.7M (-67.6% of revenue) and net loss $70.6M.
Source: Applied Digital 10-Q on SEC EDGAR.