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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Feb. 28, 2023
Feb. 28, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss attributable to Applied Digital Corporation $ (38,173) $ (20,713)
Net loss from discontinued operations, net of income taxes 0 (2,870)
Net loss attributable to noncontrolling interest (577) 0
Net loss from continuing operations (38,750) (17,843)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and Amortization 4,631 245
Gain on extinguishment of accounts payable 0 (405)
Loss on extinguishment of debt 94 1,342
Stock-Based Compensation 26,878 12,337
Lease Expense 246 136
Deferred Tax (280) 274
Changes in assets and liabilities:    
Accounts receivable 145 12
Prepaid expenses and other current assets (51) (2,091)
Customer deposits 26,846 2,126
Deferred revenue 43,742 2,883
Accounts payable and accrued liabilities (10,020) 4,479
Sales and use tax payable 1,563 0
Interest on finance leases (104) 0
Lease Assets and Liabilities (796) (233)
Net cash provided by operating activities of continuing operations 54,144 3,262
Net cash provided by operating activities of discontinued operations 0 966
NET CASH PROVIDED BY OPERATING ACTIVITIES 54,144 4,228
CASH FLOW FROM INVESTING ACTIVITIES    
Purchases of property and equipment (96,214) (28,180)
Investments in private companies (100) 0
Net cash used in investing activities of continuing operations (96,314) (28,180)
Net cash used in investing activities of discontinued operations 0 (7,408)
NET CASH USED IN INVESTING ACTIVITIES (96,314) (35,588)
CASH FLOW FROM FINANCING ACTIVITIES    
Issuance of preferred stock 0 34,500
Repayment of finance leases (1,635) (2)
Preferred issuance costs 0 (2,927)
Term loan payoff (7,056) 0
Proceeds from issuance of term loan 25,567 0
Term Loan Issuance Costs (333) 0
Loan Payments (1,784) 0
Payments of employee restricted stock tax withholdings (114) 0
Noncontrolling interest contributions 4,147 0
Net cash provided by financing activities of continuing operations 18,792 31,571
Net cash provided by financing activities of discontinued operations 0 0
CASH FLOW PROVIDED BY FINANCING ACTIVITIES 18,792 31,571
NET (DECREASE ) INCREASE IN CASH AND CASH EQUIVALENTS (23,378) 211
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 46,299 11,750
CASH AND CASH EQUIVALENTS, END OF PERIOD 22,921 11,961
Less: cash and cash equivalents of discontinued operations 0 0
Cash and cash equivalents of continuing operations 22,921 11,961
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest Paid 1,118 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Right-of-use asset obtained by lease obligation 8,693 1,207
Fixed assets in accounts payable $ 9,384 $ 12,156