Home / Auditor changes / Applied Digital Corp.
Filed 2025-06-20 路 Form 8-K 路 Accession 0001641172-25-015732 mid
Price before filing: $10.61 (2025-06-18 close, split/dividend-adjusted)
Market cap at flag: $2.64B (2025-06-20) 路 Latest: $5.26B (2026-10-16)
| Window | APLD | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +4.5% | +5.6% | -1.0% | 2025-07-21 |
| 90 days | +87.7% | +11.2% | +76.5% | 2025-09-18 |
| 180 days | +107.4% | +13.0% | +94.3% | 2025-12-17 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 2 insiders sold $288K (2 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-16 | Benson Ella G. Director | Sale | 18,242 | $6.50 | $119K | yes | Form 4 |
| 2025-05-21 | Lee Rachel H. Director | Sale | 24,212 | $7.00 | $169K | yes | Form 4 |
| 2025-06-20: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-03-22 to 2025-07-20. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As a result of this transaction, on June 18, 2025, Marcum resigned as the independent registered public accounting firm of Applied Digital Corporation (the "Company") and, with the approval of the Audit Committee of the Company's Board of Directors, CBIZ CPAs was engaged as the Company's independent registered public accounting firm for the year ended May 31, 2025."
Quoted from the filing. Source
The company changed its outside auditor (8-K Item 4.01). A dismissal or resignation, especially near an annual report or with reported disagreements, is a warning sign. Changes caused by audit firms merging are usually routine.
Type: routine (audit-firm merger)
Disagreements reported: no
Former auditor: Marcum LLP · New auditor: CBIZ CPAs P.C.
Why this score: routine: audit firm merged/was acquired; also within 90 days: Going-concern doubt
Read the original filing on SEC.gov →
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