Applied Digital Corp
For the period ended May 31, 2024. Filed Aug 30, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Aug 30, 2024
APLD$16.72+7.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(In thousands, except share and par value data)
| May 31, 2024 | May 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $3,339 | $28,999 |
| Restricted cash | 21,349 | 14,575 |
| Accounts receivable | 3,847 | 82 |
| Prepaid expenses and other current assets | 1,343 | 2,012 |
| Current assets held for sale | 384 | — |
| Total current assets | 30,262 | 45,668 |
| Property and equipment, net | 340,381 | 198,151 |
| Operating lease right of use assets, net | 153,611 | 1,290 |
| Finance lease right of use assets, net | 218,683 | 14,303 |
| Other assets | 19,930 | 4,545 |
| TOTAL ASSETS | $762,867 | $263,957 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $116,117 | $6,446 |
| Accrued liabilities | 26,282 | 9,960 |
| Current portion of operating lease liability | 21,705 | 320 |
| Current portion of finance lease liability | 107,683 | 5,722 |
| Current portion of debt | 10,082 | 7,950 |
| Current portion of debt, at fair value | 35,836 | — |
| Customer deposits | 13,819 | 32,560 |
| Related party customer deposits | 1,549 | 3,810 |
| Deferred revenue | 37,674 | 47,168 |
| Related party deferred revenue | 1,692 | 1,524 |
| Due to customer | 13,002 | — |
| Other current liabilities | 96 | — |
| Total current liabilities | 385,537 | 115,460 |
| Long-term portion of operating lease liability | 109,740 | 1,005 |
| Long-term portion of finance lease liability | 63,288 | 8,334 |
| Long-term debt ($44,407 as of May 31, 2024, and $0 as of May 31, 2023 at fair value) | 79,472 | 33,222 |
| Long-term related party loan | — | 35,257 |
| Other long-term related party liabilities | — | 1,000 |
| Total liabilities | 638,037 | 194,278 |
| Commitments and contingencies | ||
| Stockholders' equity: | ||
| Common stock, $0.001 par value, 166,666,667 shares authorized, 144,083,944 shares issued and 139,051,142 shares outstanding at May 31, 2024, and 100,927,358 shares issued and 95,925,630 shares outstanding at May 31, 2023 | 144 | 101 |
| Treasury stock, 5,032,802 shares at May 31, 2024 and 5,001,728 shares at May 31, 2023, at cost | (62) | (62) |
| Additional paid in capital | 374,738 | 160,194 |
| Accumulated deficit | (249,990) | (100,716) |
| Total stockholders’ equity attributable to Applied Digital Corporation | 124,830 | 59,517 |
| Noncontrolling interest | — | 10,162 |
| Total stockholders' equity including noncontrolling interest | 124,830 | 69,679 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $762,867 | $263,957 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.