As of Q2'26 (2025-11-30), APLD reported an operating income of -30.96M USD, continuing its negative trend after a brief positive spike to 9.48M USD in Q1'25. The latest year-over-year (YoY) change stands at -66.3%, indicating a significant deterioration compared to the same period last year. Over the period from Q3'23 to Q2'26, APLD's operating income has generally remained negative, with losses deepening in the most recent quarters. Notably, there was a sharp improvement in Q1'25, where operating income turned positive, but this was short-lived as losses quickly resumed and widened, reaching their worst levels in Q3'24 and Q2'26. The YoY growth rate has been highly volatile, with occasional positive quarters, but overall the trend reflects increasing operational challenges and inconsistent performance.