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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Nov. 30, 2023
Nov. 30, 2022
Revenue:        
Total revenue $ 42,203 $ 12,340 $ 78,527 $ 19,264
Costs and expenses:        
Cost of revenues 29,222 11,812 53,620 17,905
Selling, general and administrative 21,075 27,226 38,127 32,245
Loss from legal settlement 80 0 2,380 0
Total costs and expenses 50,377 39,038 94,127 50,150
Operating loss (8,174) (26,698) (15,600) (30,886)
Interest expense, net 2,355 364 4,430 709
Loss on extinguishment of debt 0 0 2,353 94
Net loss before income tax expenses (10,529) (27,062) (22,383) (31,689)
Income tax expense (benefit) 0 (312) 0 (280)
Net loss (10,529) (26,750) (22,383) (31,409)
Net loss attributable to noncontrolling interest 0 (133) (397) (261)
Net loss attributable to Applied Digital Corporation $ (10,529) $ (26,617) $ (21,986) $ (31,148)
Basic net loss per share attributable to Applied Digital Corporation (in dollars per share) $ (0.10) $ (0.28) $ (0.21) $ (0.33)
Diluted net loss per share attributable to Applied Digital Corporation (in dollars per share) $ (0.10) $ (0.28) $ (0.21) $ (0.33)
Basic weighted average number of shares outstanding (in shares) 109,663,030 93,422,427 105,067,375 93,263,266
Diluted weighted average number of shares outstanding (in shares) 109,663,030 93,422,427 105,067,375 93,263,266
Datacenter hosting revenue | Nonrelated Party        
Revenue:        
Total revenue $ 34,119 $ 8,747 $ 64,106 $ 13,086
Datacenter hosting revenue | Related Party        
Revenue:        
Total revenue 3,634 3,593 7,819 6,178
Cloud services revenue        
Revenue:        
Total revenue $ 4,450 $ 0 $ 6,602 $ 0