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Side-by-side financial comparison of Applied Digital Corp. (APLD) and FIRSTSUN CAPITAL BANCORP (FSUN). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $110.0M, roughly 1.2× FIRSTSUN CAPITAL BANCORP). FIRSTSUN CAPITAL BANCORP runs the higher net margin — 19.6% vs -11.4%, a 31.0% gap on every dollar of revenue. Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 6.9%).
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.
FirstSun Capital Bancorp is a U.S.-headquartered financial holding company that offers a comprehensive range of banking and financial services, including commercial and consumer lending, deposit products, wealth management, and treasury solutions. It mainly serves individual customers, small and medium-sized enterprises, and corporate clients across U.S. regional markets.
APLD vs FSUN — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $110.0M |
| Net Profit | $-14.4M | $21.6M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | — |
| Net Margin | -11.4% | 19.6% |
| Revenue YoY | 98.2% | — |
| Net Profit YoY | 89.6% | -8.4% |
| EPS (diluted) | $-0.07 | $0.76 |
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 | — | $110.0M | ||
| Q4 25 | $126.6M | $110.2M | ||
| Q3 25 | $64.2M | $107.3M | ||
| Q2 25 | $-33.3M | $105.6M | ||
| Q1 25 | $52.9M | $96.2M | ||
| Q4 24 | $63.9M | $98.7M | ||
| Q3 24 | $60.7M | $98.2M | ||
| Q2 24 | $43.7M | $96.2M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-14.4M | $24.8M | ||
| Q3 25 | $-16.9M | $23.2M | ||
| Q2 25 | $-52.5M | $26.4M | ||
| Q1 25 | $-35.6M | $23.6M | ||
| Q4 24 | $-138.7M | $16.4M | ||
| Q3 24 | $-4.2M | $22.4M | ||
| Q2 24 | $-64.5M | $24.6M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | -9.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | -24.5% | 29.0% | ||
| Q3 25 | -34.7% | 26.4% | ||
| Q2 25 | — | 31.2% | ||
| Q1 25 | -35.8% | 30.9% | ||
| Q4 24 | -29.1% | 20.4% | ||
| Q3 24 | 15.6% | 29.1% | ||
| Q2 24 | -68.4% | 32.3% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | -11.4% | 22.5% | ||
| Q3 25 | -26.4% | 21.6% | ||
| Q2 25 | 157.8% | 25.0% | ||
| Q1 25 | -67.2% | 24.5% | ||
| Q4 24 | -217.2% | 16.6% | ||
| Q3 24 | -7.0% | 22.8% | ||
| Q2 24 | -147.5% | 25.5% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $-0.07 | $0.89 | ||
| Q3 25 | $-0.07 | $0.82 | ||
| Q2 25 | $-0.31 | $0.93 | ||
| Q1 25 | $-0.16 | $0.83 | ||
| Q4 24 | $-0.66 | $0.57 | ||
| Q3 24 | $-0.03 | $0.79 | ||
| Q2 24 | $-0.57 | $0.88 |
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 | $413.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $1.2B |
| Total Assets | $5.2B | $8.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $413.7M | ||
| Q4 25 | $1.9B | $652.6M | ||
| Q3 25 | $73.9M | $659.9M | ||
| Q2 25 | $41.6M | $785.1M | ||
| Q1 25 | $68.7M | $621.4M | ||
| Q4 24 | $286.2M | $615.9M | ||
| Q3 24 | $58.2M | $573.7M | ||
| Q2 24 | $3.3M | $535.8M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $497.7M | $1.1B | ||
| Q1 25 | $454.6M | $1.1B | ||
| Q4 24 | $434.6M | $1.0B | ||
| Q3 24 | $241.8M | $1.0B | ||
| Q2 24 | $124.8M | $996.6M |
| Q1 26 | — | $8.6B | ||
| Q4 25 | $5.2B | $8.5B | ||
| Q3 25 | $2.4B | $8.5B | ||
| Q2 25 | $1.9B | $8.4B | ||
| Q1 25 | $1.7B | $8.2B | ||
| Q4 24 | $1.5B | $8.1B | ||
| Q3 24 | $937.7M | $8.1B | ||
| Q2 24 | $762.9M | $8.0B |
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 | $111.5M | ||
| Q3 25 | $-82.0M | $49.4M | ||
| Q2 25 | $6.9M | $15.0M | ||
| Q1 25 | $5.9M | $26.4M | ||
| Q4 24 | $-52.3M | $101.1M | ||
| Q3 24 | $-75.9M | $48.1M | ||
| Q2 24 | $-34.1M | $20.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-567.9M | $104.0M | ||
| Q3 25 | $-331.4M | $47.6M | ||
| Q2 25 | $-191.4M | $13.0M | ||
| Q1 25 | $-251.6M | $24.3M | ||
| Q4 24 | $-223.3M | $95.7M | ||
| Q3 24 | $-130.7M | $47.1M | ||
| Q2 24 | $-88.9M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | -448.6% | 94.3% | ||
| Q3 25 | -516.1% | 44.4% | ||
| Q2 25 | 574.8% | 12.3% | ||
| Q1 25 | -475.4% | 25.3% | ||
| Q4 24 | -349.6% | 97.0% | ||
| Q3 24 | -215.3% | 47.9% | ||
| Q2 24 | -203.5% | 20.6% |
| Q1 26 | — | — | ||
| Q4 25 | 436.1% | 6.8% | ||
| Q3 25 | 388.4% | 1.6% | ||
| Q2 25 | -595.4% | 1.9% | ||
| Q1 25 | 486.6% | 2.1% | ||
| Q4 24 | 267.8% | 5.5% | ||
| Q3 24 | 90.3% | 1.1% | ||
| Q2 24 | 125.4% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.49× | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | 6.18× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 0.85× |
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% |
FSUN
| Net Interest Income | $82.8M | 75% |
| Noninterest Income | $27.2M | 25% |
