Applied Digital Cash Flow Statement

Financials in millions USD. Fiscal year is June - May.

Millions USD. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Net Income	-125	-231.07	-149.27	-44.65	-23.52	-0.57
Depreciation & Amortization	101.87	97.95	79.36	7.61	1.12	0
Other Amortization	18.84	9.56	5.21	0.41	-	-
Loss (Gain) From Sale of Assets	-	-24.62	15.42	-	-	-
Asset Writedown & Restructuring Costs	2.61	1.14	-	-	-	-
Loss (Gain) From Sale of Investments	-2.77	-	-	-	-	-
Stock-Based Compensation	66.75	22.7	17.36	32.07	12.34	-
Other Operating Activities	27.11	158.31	39.65	-1.41	2.85	0.24
Change in Accounts Receivable	-10.01	-2.93	-3.77	0.15	-0.23	-
Change in Accounts Payable	-154.41	-78.26	41.84	-13.75	6.42	0.25
Change in Unearned Revenue	23.41	-35.77	-9.33	44.81	3.88	-
Change in Other Net Operating Assets	18.43	-32.42	-22.68	33.48	6.43	-
Operating Cash Flow	-85.12	-115.4	13.79	58.74	-0.87	-0.08
Operating Cash Flow Growth	-	-	-76.52%	-	-	-
Capital Expenditures	-1,257	-681.6	-141.81	-131.28	-54.97	-3.3
Sale of Property, Plant & Equipment	-	25	19.85	-	-	-
Investment in Securities	-20.45	-4.87	-0.39	-0.81	-	-
Other Investing Activities	-0.91	-6.18	-50.09	-	9.1	-
Investing Cash Flow	-1,279	-667.65	-172.44	-132.09	-45.87	-3.3
Long-Term Debt Issued	-	1,112	144.55	82.15	7.32	-
Long-Term Debt Repaid	-	-418.12	-127.18	-13.39	-0.22	-
Net Debt Issued (Repaid)	2,072	693.97	17.37	68.77	7.1	-
Issuance of Common Stock	202.63	191.59	130.85	-	40	-
Repurchase of Common Stock	-19.58	-35.46	-0.86	-0.17	-	-
Preferred Dividends Paid	-5.09	-2.62	-	-	-	-
Dividends Paid	-5.09	-2.62	-	-	-	-
Other Financing Activities	374.58	-171	-0.6	2.03	-0.31	-1.37
Financing Cash Flow	3,345	874.69	146.76	70.63	81.29	15.14
Net Cash Flow	1,981	91.63	-11.89	-2.73	34.55	11.75
Free Cash Flow	-1,342	-797.01	-128.02	-72.54	-55.85	-3.39
Free Cash Flow Margin	-508.50%	-552.74%	-93.70%	-130.96%	-653.25%	-
Free Cash Flow Per Share	-5.48	-3.96	-1.12	-0.77	-0.98	-2.24
Cash Interest Paid	50.21	62.71	17.78	1.12	0.11	0.24
Cash Income Tax Paid	0.11	0.11	0.01	-	-	-
Levered Free Cash Flow	-1,607	-542.86	-43.65	-59.55	-29.09	-
Unlevered Free Cash Flow	-1,609	-543.21	-37.79	-58.71	-29.02	-
Change in Working Capital	-122.59	-149.38	6.07	64.69	16.5	0.25

Source: S&P Global Market Intelligence. Standard template. Financial Sources.