RMED · Ra Medical Systems, 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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $432.0K | - | $226.0K | $212.0K | $82.0K | - | $96.0K | $93.0K | $82.0K | - |
| Cost of Revenue | $42.0K | - | $10.0K | $14.0K | $5.0K | - | $10.0K | $16.0K | $5.0K | - |
| Gross Profit | $390.0K | - | $208.0K | $198.0K | $132.0K | - | $86.0K | $77.0K | $77.0K | - |
| R&D | $149.0K | - | $63.0K | $155.0K | $37.0K | - | $63.0K | $81.0K | $37.0K | - |
| SG&A | $2.56M | - | $2.95M | $2.88M | $3.48M | - | $2.88M | $2.71M | $2.66M | - |
| Total Operating Expenses | $2.71M | - | $3.23M | $4.88M | $3.71M | - | $2.94M | $2.79M | $2.69M | - |
| D&A | $405.0K | - | $17.0K | $18.0K | $522.0K | - | $19.0K | $15.0K | $522.0K | - |
| Operating Income | ($2.32M) | - | ($3.02M) | ($4.69M) | ($3.58M) | - | ($2.86M) | ($2.72M) | ($2.62M) | - |
| Interest Expense | - | - | - | - | - | - | $0 | - | - | - |
| Income Tax | ($175.0K) | - | $0 | ($950.0K) | $0 | - | - | - | - | - |
| Net Income | ($1.68M) | - | ($2.25M) | ($5.11M) | ($4.04M) | - | ($4.12M) | ($4.22M) | ($2.67M) | - |
| EPS - Basic | ($1.39) | - | ($38.17) | ($5.57) | ($3.60) | - | - | - | - | - |
| EPS - Diluted | - | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $441.0K | $88.0K | $1.07M | $838.0K | $450.0K | $2.87M | $1.27M | $16.0K | $1.49M | $3.56M |
| Accounts Receivable | $261.0K | $155.0K | $123.0K | $115.0K | $85.0K | $70.0K | $107.0K | $105.0K | $73.0K | $137.0K |
| Inventory | $62.0K | $86.0K | $34.0K | $48.0K | $71.0K | $33.0K | $32.0K | $63.0K | $63.0K | $44.0K |
| Accounts Payable | $1.08M | $1.49M | $1.08M | $804.0K | $647.0K | $230.0K | $708.0K | $827.0K | $543.0K | $464.0K |
| Current Assets | $1.25M | $390.0K | $2.47M | $2.05M | $854.0K | $3.29M | $1.71M | $388.0K | $1.95M | $4.16M |
| Total Assets | $35.09M | $15.86M | $25.47M | $25.56M | $24.80M | $27.77M | $26.75M | $26.26M | $28.02M | $30.74M |
| Current Liabilities | $19.74M | $3.91M | $5.33M | $4.64M | $4.09M | $2.08M | $2.59M | $3.32M | $2.35M | $2.47M |
| Long-term Debt | - | $3.08M | $1.50M | $1.50M | - | - | - | - | - | - |
| Total Liabilities | $25.93M | $9.21M | $19.02M | $19.01M | $16.88M | $16.01M | $13.92M | $11.94M | $9.50M | $9.54M |
| Stockholders' Equity | $9.57M | $7.05M | $6.78M | $6.79M | $7.92M | $11.76M | $12.83M | $14.32M | $18.52M | $21.19M |
| Retained Earnings | ($311.22M) | ($309.54M) | ($303.76M) | ($301.51M) | ($296.40M) | ($292.35M) | ($286.72M) | ($282.60M) | ($278.38M) | ($275.71M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.80M) | - | - | - | ($2.34M) | - | - | - | ($1.94M) | - |
| Investing Cash Flow | ($1.32M) | - | - | - | ($10.0K) | - | - | - | ($22.0K) | - |
| Financing Cash Flow | $4.47M | - | - | - | ($75.0K) | - | - | - | ($110.0K) | - |
| CapEx | $6.0K | - | - | - | $10.0K | - | - | - | $22.0K | - |
| Free Cash Flow | ($2.80M) | - | - | - | ($2.35M) | - | - | - | ($1.96M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 90.3% | - | 92.0% | 93.4% | 161.0% | - | 89.6% | 82.8% | 93.9% | - |
| Operating margin | -536.6% | - | -1336.7% | -2210.4% | -4359.8% | - | -2978.1% | -2921.5% | -3190.2% | - |
| EBITDA margin | -442.8% | - | -1329.2% | -2201.9% | -3723.2% | - | -2958.3% | -2905.4% | -2553.7% | - |
| Net margin | -389.1% | - | -996.0% | -2409.9% | -4932.9% | - | -4291.7% | -4537.6% | -3262.2% | - |
| Free cash flow margin | -648.6% | - | - | - | -2863.4% | - | - | - | -2395.1% | - |
| FCF / Net income | 1.67 | - | - | - | 0.58 | - | - | - | 0.73 | - |
| R&D / Revenue | 34.5% | - | 27.9% | 73.1% | 45.1% | - | 65.6% | 87.1% | 45.1% | - |
| SG&A / Revenue | 592.4% | - | 1306.6% | 1359.0% | 4250.0% | - | 3002.1% | 2917.2% | 3239.0% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.8% | - | -8.8% | -20.0% | -16.3% | - | -15.4% | -16.1% | -9.5% | - |
| Return on equity | -17.6% | - | -33.2% | -75.3% | -51.1% | - | -32.1% | -29.5% | -14.4% | - |
| Return on invested capital | - | - | -28.8% | -44.7% | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.06 | 0.10 | 0.46 | 0.44 | 0.21 | 1.58 | 0.66 | 0.12 | 0.83 | 1.68 |
| Quick ratio | 0.06 | 0.08 | 0.46 | 0.43 | 0.19 | 1.56 | 0.65 | 0.10 | 0.80 | 1.67 |
| Cash ratio | 0.02 | 0.02 | 0.20 | 0.18 | 0.11 | 1.38 | 0.49 | 0.00 | 0.63 | 1.44 |
| Leverage | ||||||||||
| Debt / Equity | - | 0.44 | 0.22 | 0.22 | - | - | - | - | - | - |
| Debt / Assets | - | 0.19 | 0.06 | 0.06 | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.67 | 2.25 | 3.76 | 3.77 | 3.13 | 2.36 | 2.09 | 1.83 | 1.51 | 1.45 |
| Liabilities / Assets | 0.74 | 0.58 | 0.75 | 0.74 | 0.68 | 0.58 | 0.52 | 0.45 | 0.34 | 0.31 |
| Efficiency | ||||||||||
| Asset turnover | 0.01 | - | 0.01 | 0.01 | 0.00 | - | 0.00 | 0.00 | 0.00 | - |
| Inventory turnover | 0.68 | - | 0.29 | 0.29 | 0.07 | - | 0.31 | 0.25 | 0.08 | - |
| Days sales outstanding | 221d | - | 199d | 198d | 378d | - | 407d | 412d | 325d | - |
| Days inventory outstanding | 539d | - | 1241d | 1251d | 5183d | - | 1168d | 1437d | 4599d | - |
| Days payable outstanding | 9377d | - | 39384d | 20961d | 47231d | - | 25842d | 18866d | 39639d | - |
| Cash conversion cycle | -8618d | - | -37944d | -19512d | -41670d | - | -24267d | -17017d | -34715d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 426.8% | - | 135.4% | 128.0% | 0.0% | - | -27.8% | 1760.0% | -3.5% | - |
| Revenue CAGR (3y) | 71.9% | - | - | 248.7% | 108.9% | - | 167.8% | -54.8% | -58.1% | - |
| Revenue CAGR (5y) | -17.3% | - | -24.4% | -25.1% | -43.1% | - | -45.0% | -46.7% | -45.8% | - |
| Gross profit growth (YoY) | 195.5% | - | 141.9% | 157.1% | 71.4% | - | -32.3% | -13.5% | 2.7% | - |
| Operating income growth (YoY) | 35.2% | - | -5.7% | -72.5% | -36.7% | - | -4.7% | 56.9% | 96.1% | - |
| Net income growth (YoY) | 58.4% | - | 45.4% | -21.1% | -51.2% | - | -113.8% | -167.8% | 96.0% | - |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -19.3% | - | - | - | -19.6% | - | - | - | 83.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 20.9% | -40.0% | -47.1% | -52.6% | -57.3% | -44.5% | -41.3% | -39.8% | -48.3% | 128.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$819.0K totalProduct$819.0K · 100.0%
Geographic
$819.0K totalUS$655.0K · 80.0%
Europe$164.0K · 20.0%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Ra Medical Systems against the 5 most active filers in the same SIC group.