PerpEquitiesEquity
APLD perpetual futures
Applied Digital Corporation tracked across crypto venues with normalized contract specs.
Price chart
33.68▼ 10.49%
33.0034.0035.0036.0037.0038.00
Jun 30Jul 1Jul 3Jul 4Jul 6
24/7 perp mark · BingX (APLD-USDT)
Auto: market closed → highest-volume perp venue
Trading data
Perpetual market activity
Venues
4
Live markets
4/4
24h volume
$3.3M
Open interest
$373k
Best liquidity
$493k
Bitget
Tightest spread
+8.9 bps
OKX
Highest volume
$1.4M
BingX
Settlement mix
USDT · 4/4
Best Liquidity
APLDTightest Spread
APLDHighest Volume
APLDCompany data
Company fundamentals
Market cap
$9.8B
Updated 2h ago
Revenue
$355.5M
Trailing 12 months
Net income
$-186.3M
Trailing 12 months
Free cash flow
$-1.8B
Trailing 12 months
Profit margin
-52.4%
P/E
-45.6
P/S
27.6
Revenue estimate
$819.0M
Next fiscal year
Revenue growth
+280%
Next fiscal year
Fundamental detail
Annual + quarterlyLatest revenue$215.5M
Net margin-107.2%
Free cash flow$-797.0M
Net debt$589.0M
PeriodRevenueGrowthNet incomeFCF
2020$0.0-$-263k-
2021$0.0-$-568k$-3.4M
2022$8.5M-$-23.5M$-55.8M
2023$55.4M+548%$-44.6M$-72.5M
2024$136.6M+147%$-149.3M$-128.0M
2025$215.5M+58%$-231.1M$-797.0M
PeriodGross marginOperating marginNet marginROEROA
2020+0.0%+0.0%+0.0%+0.0%+0.0%
2021+0.0%+0.0%+0.0%+22.0%-3.8%
2022-156.1%-244.4%-275.1%-32.5%-19.6%
2023+19.9%-79.5%-80.6%-75.0%-16.9%
2024+21.9%-11.0%-109.3%-119.6%-19.6%
2025+10.5%-33.5%-107.2%-36.5%-12.4%
PeriodCashDebtNet debtCurrent ratio
2020---0.00
2021$11.8M$2.1M$-9.6M4.70
2022$38.8M$13.5M$-25.3M1.39
2023$29.0M$91.8M$62.8M0.40
2024$3.3M$135.7M$132.4M0.73
2025$113.9M$702.9M$589.0M0.77
PeriodMarket capEnterprise valueP/SP/E
2020$7.3M$0.00.0-28.5
2021$43.2M$33.5M0.0-80.8
2022$275.9M$250.6M32.3-11.8
2023$786.6M$849.4M14.2-17.4
2024$482.5M$614.9M3.5-3.2
2025$1.4B$2.0B6.4-5.9
PeriodRevenueGrowthNet incomeFCF
Q4 2024$14.7M-33%$-64.5M$-88.9M
Q1 2025$60.7M+67%$-4.2M$-130.7M
Q2 2025$63.9M+51%$-138.7M$-223.3M
Q3 2025$52.9M+22%$-35.6M$-251.6M
Q4 2025$38.0M+158%$-52.5M$-191.4M
Q1 2026$64.2M+6%$-16.9M$-331.4M
Q2 2026$126.6M+98%$-17.5M$-567.9M
Q3 2026$126.6M+139%$-99.3M$-720.2M
PeriodGross marginOperating marginNet marginROEROA
Q4 2024+59.5%+216.4%-437.1%-51.6%-8.4%
Q1 2025-0.6%-24.2%-7.0%-1.8%-0.5%
Q2 2025+18.0%-28.6%-217.2%-31.9%-9.0%
Q3 2025+7.1%-35.8%-67.2%-7.1%-2.1%
Q4 2025+20.4%-53.5%-138.2%-8.3%-2.8%
Q1 2026+13.4%-28.9%-26.4%-1.6%-0.7%
Q2 2026+20.6%-24.5%-13.8%-1.2%-0.3%
Q3 2026+42.5%-15.0%-78.4%-6.3%-1.6%
PeriodCashDebtNet debtCurrent ratio
Q4 2024$3.3M$135.7M$132.4M0.73
Q1 2025$58.2M$425.8M$367.6M0.22
Q2 2025$286.2M$799.4M$513.2M0.77
Q3 2025$68.7M$993.7M$924.9M0.70
Q4 2025$41.6M$702.9M$661.3M0.77
Q1 2026$73.9M$700.2M$626.3M0.65
Q2 2026$1.9B$2.6B$695.2M4.82
Q3 2026$1.7B$2.8B$1.1B2.38
PeriodMarket capEnterprise valueP/SP/E
Q4 2024$482.5M$614.9M32.7-1.8
Q1 2025$543.9M$911.4M9.0-31.7
Q2 2025$2.1B$2.6B33.1-3.8
Q3 2025$1.8B$2.7B33.6-12.5
Q4 2025$1.4B$2.0B36.1-7.1
Q1 2026$4.1B$4.7B63.7-55.3
Q2 2026$7.5B$8.2B59.4-100.8
Q3 2026$7.4B$8.5B58.5-18.4
Refreshed 2h ago
Research data
Estimates, events and peers
Estimates
6 periodsFY 2026$413.4M+92%7 analysts
FY 2027$819.0M+280%5 analysts
FY 2028$2.1B+858%5 analysts
FY 2029$3.3B+1450%2 analysts
FY 2030$6.9B+3114%1 analysts
Q3 2027$298.1M+135%2 analysts
Events
Earnings · dividends · splits2026-08-20EarningsRevenue est. $79.7M
2026-07-29EarningsRevenue est. $92.6M
2026-04-08EarningsRevenue est. $75.5M
2026-01-07EarningsRevenue est. $85.3M
2025-10-09EarningsRevenue est. $50.0M
2025-07-30EarningsRevenue est. $35.9M