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Side-by-side financial comparison of Applied Digital Corp. (APLD) and Climb Global Solutions, Inc. (CLMB). Click either name above to swap in a different company.
Climb Global Solutions, Inc. is the larger business by last-quarter revenue ($182.4M vs $126.6M, roughly 1.4× Applied Digital Corp.). Climb Global Solutions, Inc. runs the higher net margin — 1.8% vs -11.4%, a 13.2% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 32.1%). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 40.7%).
BAE Systems Digital Intelligence is an international defence and security technology firm owned by BAE Systems. They specialize in delivering digital solutions that enable rapid, data-driven decision-making. Their services, solutions and products span customers in Law Enforcement, National Security, Government Departments and Government Enterprises, Critical National Infrastructure, Telecommunications, the Military, and Space.
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
APLD vs CLMB — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $182.4M |
| Net Profit | $-14.4M | $3.3M |
| Gross Margin | 20.6% | 14.5% |
| Operating Margin | -24.5% | 2.1% |
| Net Margin | -11.4% | 1.8% |
| Revenue YoY | 98.2% | 32.1% |
| Net Profit YoY | 89.6% | -9.5% |
| EPS (diluted) | $-0.07 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $182.4M | ||
| Q4 25 | $126.6M | $193.8M | ||
| Q3 25 | $64.2M | $161.3M | ||
| Q2 25 | $-33.3M | $159.3M | ||
| Q1 25 | $52.9M | $138.0M | ||
| Q4 24 | $63.9M | $161.8M | ||
| Q3 24 | $60.7M | $119.3M | ||
| Q2 24 | $43.7M | $92.1M |
| Q1 26 | — | $3.3M | ||
| Q4 25 | $-14.4M | $7.0M | ||
| Q3 25 | $-16.9M | $4.7M | ||
| Q2 25 | $-52.5M | $6.0M | ||
| Q1 25 | $-35.6M | $3.7M | ||
| Q4 24 | $-138.7M | $7.0M | ||
| Q3 24 | $-4.2M | $5.5M | ||
| Q2 24 | $-64.5M | $3.4M |
| Q1 26 | — | 14.5% | ||
| Q4 25 | 20.6% | 15.4% | ||
| Q3 25 | 13.4% | 15.9% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | 7.1% | 16.9% | ||
| Q4 24 | 18.0% | 19.3% | ||
| Q3 24 | -0.6% | 20.3% | ||
| Q2 24 | -9.1% | 20.2% |
| Q1 26 | — | 2.1% | ||
| Q4 25 | -24.5% | 4.9% | ||
| Q3 25 | -34.7% | 4.3% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | -35.8% | 3.5% | ||
| Q4 24 | -29.1% | 7.2% | ||
| Q3 24 | 15.6% | 7.1% | ||
| Q2 24 | -68.4% | 4.6% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | -11.4% | 3.6% | ||
| Q3 25 | -26.4% | 2.9% | ||
| Q2 25 | 157.8% | 3.7% | ||
| Q1 25 | -67.2% | 2.7% | ||
| Q4 24 | -217.2% | 4.3% | ||
| Q3 24 | -7.0% | 4.6% | ||
| Q2 24 | -147.5% | 3.7% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $-0.07 | $1.51 | ||
| Q3 25 | $-0.07 | $1.02 | ||
| Q2 25 | $-0.31 | $1.30 | ||
| Q1 25 | $-0.16 | $0.81 | ||
| Q4 24 | $-0.66 | $1.52 | ||
| Q3 24 | $-0.03 | $1.19 | ||
| Q2 24 | $-0.57 | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $41.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $118.4M |
| Total Assets | $5.2B | $458.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $41.8M | ||
| Q4 25 | $1.9B | $36.6M | ||
| Q3 25 | $73.9M | $49.8M | ||
| Q2 25 | $41.6M | $28.6M | ||
| Q1 25 | $68.7M | $32.5M | ||
| Q4 24 | $286.2M | $29.8M | ||
| Q3 24 | $58.2M | $22.1M | ||
| Q2 24 | $3.3M | $48.4M |
| Q1 26 | — | $118.4M | ||
| Q4 25 | $1.4B | $116.6M | ||
| Q3 25 | $1.0B | $109.3M | ||
| Q2 25 | $497.7M | $105.2M | ||
| Q1 25 | $454.6M | $95.6M | ||
| Q4 24 | $434.6M | $90.6M | ||
| Q3 24 | $241.8M | $87.7M | ||
| Q2 24 | $124.8M | $79.8M |
| Q1 26 | — | $458.8M | ||
| Q4 25 | $5.2B | $460.2M | ||
| Q3 25 | $2.4B | $376.1M | ||
| Q2 25 | $1.9B | $420.7M | ||
| Q1 25 | $1.7B | $370.1M | ||
| Q4 24 | $1.5B | $469.2M | ||
| Q3 24 | $937.7M | $371.9M | ||
| Q2 24 | $762.9M | $302.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.8M | — |
| Free Cash FlowOCF − Capex | $-567.9M | — |
| FCF MarginFCF / Revenue | -448.6% | — |
| Capex IntensityCapex / Revenue | 436.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.8M | $-11.9M | ||
| Q3 25 | $-82.0M | $22.2M | ||
| Q2 25 | $6.9M | $-2.2M | ||
| Q1 25 | $5.9M | $8.5M | ||
| Q4 24 | $-52.3M | $16.0M | ||
| Q3 24 | $-75.9M | $-3.6M | ||
| Q2 24 | $-34.1M | $7.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-567.9M | — | ||
| Q3 25 | $-331.4M | — | ||
| Q2 25 | $-191.4M | — | ||
| Q1 25 | $-251.6M | — | ||
| Q4 24 | $-223.3M | — | ||
| Q3 24 | $-130.7M | — | ||
| Q2 24 | $-88.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | -448.6% | — | ||
| Q3 25 | -516.1% | — | ||
| Q2 25 | 574.8% | — | ||
| Q1 25 | -475.4% | — | ||
| Q4 24 | -349.6% | — | ||
| Q3 24 | -215.3% | — | ||
| Q2 24 | -203.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 436.1% | — | ||
| Q3 25 | 388.4% | — | ||
| Q2 25 | -595.4% | — | ||
| Q1 25 | 486.6% | — | ||
| Q4 24 | 267.8% | — | ||
| Q3 24 | 90.3% | — | ||
| Q2 24 | 125.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.70× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.37× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | — | -0.66× | ||
| Q2 24 | — | 2.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
CLMB
Segment breakdown not available.
