Applied Digital (APLD) - 2025 Q4 - Annual Report

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-31968 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2025 APPLIED DIGITAL CORPORATION | Nevada | | | 95-4863690 | | | --- | --- | --- | --- | --- | | (State or other jurisdiction of incorpor ...