AERG · Applied Energetics, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $461.7K | $2.43M | $2.63M | $1.31M | - | - |
| Cost of Revenue | $212.6K | $1.48M | $637.7K | $305.7K | - | $153.6K |
| Gross Profit | $249.1K | $946.5K | $1.99M | $1.00M | - | $22.3K |
| R&D | $1.67M | $239.1K | $233.7K | $320.5K | $281.9K | $266.9K |
| SG&A | $12.16M | $9.51M | $8.77M | $6.13M | $4.90M | $4.70M |
| Total Operating Expenses | $15.18M | $10.12M | $9.39M | $6.77M | $5.50M | $5.26M |
| D&A | $282.2K | $218.9K | $127.6K | - | $20.0K | $17.1K |
| Operating Income | ($14.93M) | ($9.18M) | ($7.40M) | ($5.77M) | ($5.50M) | ($5.24M) |
| Interest Expense | - | - | - | - | - | $211.0K |
| Income Tax | - | - | - | - | - | - |
| Net Income | ($14.87M) | ($9.17M) | ($7.35M) | ($5.77M) | ($5.43M) | ($3.23M) |
| EPS - Basic | ($0.07) | ($0.04) | ($0.03) | ($0.03) | ($0.02) | - |
| EPS - Diluted | ($0.07) | ($0.04) | ($0.03) | ($0.03) | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.44M | $164.8K | $1.32M | $5.64M | $3.32M | $3.32M |
| Accounts Receivable | - | $335.8K | $353.1K | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $220.9K | $258.5K | $313.0K | $117.0K | $195.4K | $152.4K |
| Current Assets | $6.97M | $664.8K | $2.04M | $6.09M | $3.71M | $3.37M |
| Total Assets | $9.06M | $2.07M | $3.54M | $6.73M | $4.89M | $4.63M |
| Current Liabilities | $840.3K | $732.4K | $927.4K | $756.5K | $1.42M | $1.80M |
| Long-term Debt | - | - | - | - | - | $1.13M |
| Total Liabilities | $1.50M | $1.68M | $1.92M | $1.15M | $1.92M | $2.93M |
| Stockholders' Equity | $7.56M | $392.7K | $1.62M | $5.58M | $2.97M | $1.70M |
| Retained Earnings | ($134.86M) | ($119.99M) | ($110.81M) | ($103.46M) | ($97.69M) | ($92.27M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($9.24M) | ($5.09M) | ($3.45M) | ($3.93M) | ($3.21M) | ($160.3K) |
| Investing Cash Flow | ($1.23M) | ($98.8K) | ($369.3K) | ($74.2K) | ($207.4K) | - |
| Financing Cash Flow | $16.74M | $4.04M | ($500.9K) | $5.98M | $3.76M | $3.40M |
| CapEx | $1.23M | $98.8K | $369.3K | $74.2K | $207.4K | $12.4K |
| Free Cash Flow | ($10.47M) | ($5.19M) | ($3.82M) | ($4.00M) | ($3.42M) | ($172.7K) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 54.0% | 39.0% | 75.8% | 76.6% | - | - |
| Operating margin | -3233.6% | -378.2% | -281.1% | -441.2% | - | - |
| EBITDA margin | -3172.4% | -369.2% | -276.2% | - | - | - |
| Net margin | -3221.1% | -378.1% | -279.3% | -441.3% | - | - |
| Free cash flow margin | -2268.2% | -213.9% | -145.2% | -306.2% | - | - |
| FCF / Net income | 0.70 | 0.57 | 0.52 | 0.69 | 0.63 | 0.05 |
| R&D / Revenue | 361.7% | 9.9% | 8.9% | 24.5% | - | - |
| SG&A / Revenue | 2633.4% | 391.9% | 333.3% | 468.7% | - | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -164.1% | -443.0% | -207.5% | -85.8% | -110.9% | -69.7% |
| Return on equity | -196.7% | -2336.1% | -453.7% | -103.5% | -182.8% | -189.8% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 8.29 | 0.91 | 2.20 | 8.04 | 2.62 | 1.87 |
| Quick ratio | 8.29 | 0.91 | 2.20 | 8.04 | 2.62 | 1.87 |
| Cash ratio | 7.66 | 0.23 | 1.42 | 7.46 | 2.35 | 1.85 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | 0.67 |
| Debt / Assets | - | - | - | - | - | 0.24 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | -24.8x |
| Equity multiplier | 1.20 | 5.27 | 2.19 | 1.21 | 1.65 | 2.72 |
| Liabilities / Assets | 0.17 | 0.81 | 0.54 | 0.17 | 0.39 | 0.63 |
| Efficiency | ||||||
| Asset turnover | 0.05 | 1.17 | 0.74 | 0.19 | - | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | 51d | 49d | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 379d | 64d | 179d | 140d | - | 362d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 53.6x | 346.9x | 288.6x | 73.1x | 156.5x | - |
| P / S | 878.1x | 56.1x | 177.7x | 311.9x | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -81.0% | -7.8% | 101.2% | - | - | - |
| Revenue CAGR (3y) | -29.3% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -73.7% | -52.5% | 99.0% | - | - | - |
| Operating income growth (YoY) | -62.7% | -24.1% | -28.2% | -4.9% | -5.0% | -1.3% |
| Net income growth (YoY) | -62.1% | -24.8% | -27.4% | -6.4% | -67.9% | 41.9% |
| EPS growth (YoY) | -75.0% | -33.3% | 0.0% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -101.7% | -35.9% | 4.6% | -17.0% | -1881.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 1824.8% | -75.8% | -71.0% | 87.9% | 74.4% | - |
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-15.07
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Search, Detection, Navigation, Guidance, Aeronautical Sys
Comparing APPLIED ENERGETICS against the 5 most active filers in the same SIC group.