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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
May 31, 2023
May 31, 2022
Revenues:    
Hosting revenue $ 55,392 $ 8,549
Cost of revenues 44,388 9,506
Gross profit 11,004 (957)
Costs and expenses:    
Selling, general and administrative 55,059 19,941
Total costs and expenses 55,059 19,941
Operating loss (44,055) (20,898)
Other income (expense):    
Interest Expense (1,980) (112)
Gain on extinguishment of accounts payable 0 406
Loss on extinguishment of debt (94) (1,342)
Total other expense, net (2,074) (1,048)
Net loss from continuing operations before income tax expenses (46,129) (21,946)
Income tax benefit (expense) 523 (540)
Net loss from continuing operations (45,606) (22,486)
Net loss from discontinued operations, net of income taxes 0 (1,044)
Net loss including noncontrolling interests (45,606) (23,530)
Net loss attributable to noncontrolling interest (960) (10)
Net loss attributable to Applied Digital Corporation $ (44,646) $ (23,520)
Basic and diluted net loss per share:    
Continuing Operations - basic ( in dollars per share) $ (0.49) $ (0.39)
Continuing Operations - diluted ( in dollars per share) (0.49) (0.39)
Discontinued Operations - basic ( in dollars per share) 0 (0.02)
Discontinued Operations - diluted ( in dollars per share) 0 (0.02)
Basic net loss per share (in dollars per share) (0.49) (0.41)
Diluted net loss per share (in dollars per share) $ (0.49) $ (0.41)
Basic weighted average number of shares outstanding (in shares) 93,976,233 57,121,096
Diluted weighted average number of shares outstanding (in shares) 93,976,233 57,121,096