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Side-by-side financial comparison of Applied Digital Corp. (APLD) and AMICUS THERAPEUTICS, INC. (FOLD). Click either name above to swap in a different company.
AMICUS THERAPEUTICS, INC. is the larger business by last-quarter revenue ($185.2M vs $126.6M, roughly 1.5× Applied Digital Corp.). AMICUS THERAPEUTICS, INC. runs the higher net margin — 0.9% vs -11.4%, a 12.3% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 23.7%). AMICUS THERAPEUTICS, INC. produced more free cash flow last quarter ($16.0M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 29.5%).
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.
Amicus Therapeutics, Inc. is a public American biopharmaceutical company based in Philadelphia, Pennsylvania. The company went public in 2007 under the Nasdaq trading symbol FOLD. This followed a 2006 planned offering and subsequent withdrawal, which would have established the trading symbol as AMTX Prior to their IPO, Amicus was funded by a variety of venture capital firms including Radius Ventures, Canaan Partners and New Enterprise Associates.
APLD vs FOLD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $185.2M |
| Net Profit | $-14.4M | $1.7M |
| Gross Margin | 20.6% | 85.7% |
| Operating Margin | -24.5% | 8.6% |
| Net Margin | -11.4% | 0.9% |
| Revenue YoY | 98.2% | 23.7% |
| Net Profit YoY | 89.6% | -88.5% |
| EPS (diluted) | $-0.07 | $0.00 |
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.
| Q4 25 | $126.6M | $185.2M | ||
| Q3 25 | $64.2M | $169.1M | ||
| Q2 25 | $-33.3M | $154.7M | ||
| Q1 25 | $52.9M | $125.2M | ||
| Q4 24 | $63.9M | $149.7M | ||
| Q3 24 | $60.7M | $141.5M | ||
| Q2 24 | $43.7M | $126.7M | ||
| Q1 24 | $43.3M | $110.4M |
| Q4 25 | $-14.4M | $1.7M | ||
| Q3 25 | $-16.9M | $17.3M | ||
| Q2 25 | $-52.5M | $-24.4M | ||
| Q1 25 | $-35.6M | $-21.7M | ||
| Q4 24 | $-138.7M | $14.7M | ||
| Q3 24 | $-4.2M | $-6.7M | ||
| Q2 24 | $-64.5M | $-15.7M | ||
| Q1 24 | $-62.8M | $-48.4M |
| Q4 25 | 20.6% | 85.7% | ||
| Q3 25 | 13.4% | 88.5% | ||
| Q2 25 | — | 90.2% | ||
| Q1 25 | 7.1% | 90.7% | ||
| Q4 24 | 18.0% | 90.1% | ||
| Q3 24 | -0.6% | 90.6% | ||
| Q2 24 | -9.1% | 91.1% | ||
| Q1 24 | -8.6% | 87.7% |
| Q4 25 | -24.5% | 8.6% | ||
| Q3 25 | -34.7% | 20.3% | ||
| Q2 25 | — | -6.1% | ||
| Q1 25 | -35.8% | -6.3% | ||
| Q4 24 | -29.1% | 10.7% | ||
| Q3 24 | 15.6% | 15.3% | ||
| Q2 24 | -68.4% | 11.8% | ||
| Q1 24 | -128.8% | -25.1% |
| Q4 25 | -11.4% | 0.9% | ||
| Q3 25 | -26.4% | 10.2% | ||
| Q2 25 | 157.8% | -15.8% | ||
| Q1 25 | -67.2% | -17.3% | ||
| Q4 24 | -217.2% | 9.8% | ||
| Q3 24 | -7.0% | -4.8% | ||
| Q2 24 | -147.5% | -12.4% | ||
| Q1 24 | -145.0% | -43.9% |
| Q4 25 | $-0.07 | $0.00 | ||
| Q3 25 | $-0.07 | $0.06 | ||
| Q2 25 | $-0.31 | $-0.08 | ||
| Q1 25 | $-0.16 | $-0.07 | ||
| Q4 24 | $-0.66 | $0.05 | ||
| Q3 24 | $-0.03 | $-0.02 | ||
| Q2 24 | $-0.57 | $-0.05 | ||
| Q1 24 | $-0.52 | $-0.16 |
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 | $293.5M |
| Total DebtLower is stronger | — | $392.7M |
| Stockholders' EquityBook value | $1.4B | $274.2M |
| Total Assets | $5.2B | $949.9M |
| Debt / EquityLower = less leverage | — | 1.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $293.5M | ||
| Q3 25 | $73.9M | $263.8M | ||
| Q2 25 | $41.6M | $231.0M | ||
| Q1 25 | $68.7M | $250.6M | ||
| Q4 24 | $286.2M | $249.9M | ||
| Q3 24 | $58.2M | $249.8M | ||
| Q2 24 | $3.3M | $260.1M | ||
| Q1 24 | $4.4M | $239.6M |
| Q4 25 | — | $392.7M | ||
| Q3 25 | — | $392.0M | ||
| Q2 25 | — | $391.3M | ||
| Q1 25 | — | $390.7M | ||
| Q4 24 | — | $390.1M | ||
| Q3 24 | — | $389.5M | ||
| Q2 24 | — | $388.9M | ||
| Q1 24 | — | $388.4M |
| Q4 25 | $1.4B | $274.2M | ||
| Q3 25 | $1.0B | $230.4M | ||
| Q2 25 | $497.7M | $204.3M | ||
| Q1 25 | $454.6M | $193.6M | ||
| Q4 24 | $434.6M | $194.0M | ||
| Q3 24 | $241.8M | $178.8M | ||
| Q2 24 | $124.8M | $132.5M | ||
| Q1 24 | $118.5M | $130.7M |
| Q4 25 | $5.2B | $949.9M | ||
| Q3 25 | $2.4B | $868.8M | ||
| Q2 25 | $1.9B | $815.3M | ||
| Q1 25 | $1.7B | $789.8M | ||
| Q4 24 | $1.5B | $785.0M | ||
| Q3 24 | $937.7M | $786.6M | ||
| Q2 24 | $762.9M | $749.5M | ||
| Q1 24 | $643.2M | $721.8M |
| Q4 25 | — | 1.43× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.02× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.93× | ||
| Q1 24 | — | 2.97× |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-567.9M | $16.0M |
| FCF MarginFCF / Revenue | -448.6% | 8.6% |
| Capex IntensityCapex / Revenue | 436.1% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 9.62× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $29.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $16.3M | ||
| Q3 25 | $-82.0M | $35.7M | ||
| Q2 25 | $6.9M | $-26.5M | ||
| Q1 25 | $5.9M | $7.8M | ||
| Q4 24 | $-52.3M | $-3.9M | ||
| Q3 24 | $-75.9M | $-23.0M | ||
| Q2 24 | $-34.1M | $22.7M | ||
| Q1 24 | $38.8M | $-29.7M |
| Q4 25 | $-567.9M | $16.0M | ||
| Q3 25 | $-331.4M | $35.3M | ||
| Q2 25 | $-191.4M | $-28.9M | ||
| Q1 25 | $-251.6M | $7.5M | ||
| Q4 24 | $-223.3M | $-4.2M | ||
| Q3 24 | $-130.7M | $-23.3M | ||
| Q2 24 | $-88.9M | $21.6M | ||
| Q1 24 | $-2.3M | $-31.5M |
| Q4 25 | -448.6% | 8.6% | ||
| Q3 25 | -516.1% | 20.9% | ||
| Q2 25 | 574.8% | -18.7% | ||
| Q1 25 | -475.4% | 6.0% | ||
| Q4 24 | -349.6% | -2.8% | ||
| Q3 24 | -215.3% | -16.5% | ||
| Q2 24 | -203.5% | 17.0% | ||
| Q1 24 | -5.4% | -28.5% |
| Q4 25 | 436.1% | 0.2% | ||
| Q3 25 | 388.4% | 0.2% | ||
| Q2 25 | -595.4% | 1.6% | ||
| Q1 25 | 486.6% | 0.2% | ||
| Q4 24 | 267.8% | 0.2% | ||
| Q3 24 | 90.3% | 0.3% | ||
| Q2 24 | 125.4% | 0.9% | ||
| Q1 24 | 95.0% | 1.6% |
| Q4 25 | — | 9.62× | ||
| Q3 25 | — | 2.06× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
FOLD
| Other | $105.8M | 57% |
| Galafold | $64.8M | 35% |
| Pombiliti Opfolda | $14.6M | 8% |
