Event-Driven Stocks

Applied Digital Corp.

APLDNasdaq

Technology · Services-Computer Processing & Data Preparation · NV · SEC filings ↗ · Compare ⊕

View price & chart on Yahoo Finance ↗
Signs● 2 good● 3 warning● 2 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY22FY21
Revenue$144.2M$136.6M$55.4M$8.5M$0
Operating income−$16.8M−$32.9M−$42.9M−$20.9M−$332,000
Net income−$231.1M−$149.3M−$44.6M−$23.5M−$568,000
Total assets$1.87B$762.9M$264.0M$120.0M$15.1M
Total liabilities$1.24B$638.0M$194.3M$40.7M$2.5M
Equity$497.7M$124.8M$59.5M$72.3M−$2.6M
EPS (diluted)$-1.16$-1.31$-0.47$-0.41$-0.38
Shares out.261.5M157.4M104.0M94.2M1.5M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−11.7%
Net margin
−160.2%
Return on equity
−46.4%
Return on assets
−12.4%
Return on capital (ROCE)
−1.3%
Liabilities / assets
66.1%
Debt / equity
2.48×
Book value / share
$1.90
Revenue growth (YoY)
5.5%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-0.92distress
Accruals / assets
−6.2%clean
Beneish M-Score
-2.23normal
Piotroski F-Score
5/9mixed

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
52
/ 100
Profitability 0Growth 100Catalyst 67Earnings quality 67Financial strength 25

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 2 severe● 3 warning● 2 good
  • Altman Z″ in the distress zone
  • Filed a late-filing notice (Form NT) — missed an SEC deadline
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Negative operating cash flow
  • Revenue is growing year-over-year
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Risk flags

late SEC filings

A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Insider transactions

SEC Form 4 · most recent
2 acquisitions5 disposalsnet +357,212 shares · last 7
InsiderDateTypeSharesPrice
Zhang Jason GechenOfficer — PresidentMar 12, 2026Tax withholding93,037$27.48
Laltrello LauraOfficer — Chief Operating OfficerJan 6, 2026Tax withholding82,764$30.27
Zhang Jason GechenOfficer — PresidentFeb 6, 2026Grant500,000$0.00
Mohmand Mohammad Saidal LavanwayOfficer — Chief Financial OfficerFeb 6, 2026Grant250,000$0.00
Hastings ChuckDirectorJan 29, 2026Sell45,987$38.57
Miller Douglas SDirectorJan 22, 2026Gift6,000$0.00
Cummins WesOfficer — CEO; ChairmanJan 16, 2026Sell165,000$36.42

Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 202678.7M3.5-1.7%
Apr 30, 202680.1M3.3-0.0%
Apr 15, 202680.1M3.0+3.5%
Mar 31, 202677.4M4.7-1.8%
Mar 13, 202678.8M4.8-0.3%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)