Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data APPLIED ENERGETICS, INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.18
1.31
2.63
2.43
0.46
Cost of revenue
0.15
0.31
0.64
1.48
0.21
Gross profit
0
0.02
1
1.99
0.95
0.25
Research and development
0.19
0.34
0.27
0.28
0.32
0.23
0.24
1.67
Selling and marketing
0.05
0.21
0.3
0.32
0.32
0.38
0.37
1.35
General and administrative
0.5
0.75
2.52
4.62
4.7
4.9
6.13
8.77
9.51
12.2
Operating expenses
0.5
0.75
2.76
5.17
5.26
5.5
6.77
9.39
10.1
15.2
Operating income
-0.5
-0.75
-2.76
-5.17
-5.24
-5.5
-5.77
-7.4
-9.18
-14.9
Interest expense
0
0.02
0.4
0.21
Interest income
0
Other non-operating income
0
-0.04
-0.25
-0.38
2.01
0.08
-0
0.05
0
0.06
Pre-tax income
-0.49
-0.79
-3.01
-5.56
-3.23
-5.43
-5.77
-7.35
-9.17
-14.9
Income tax
0
Net income
-0.49
-0.79
-3.01
-5.56
-3.23
-5.43
-5.77
-7.35
-9.17
-14.9
EBITDA
-5.16
-5.22
-5.48
-5.7
-7.27
-8.96
-14.6
EPS, basic
-0.01
-0.01
-0.02
-0.03
-0.02
-0.03
-0.03
-0.03
-0.04
-0.07
EPS, diluted
-0.01
-0.01
-0.02
-0.03
-0.02
-0.03
-0.03
-0.03
-0.04
-0.07
Shares, basic (weighted)
93.2
155
192
204
194
201
208
211
213
224
Shares, diluted (weighted)
93.2
155
192
204
194
201
208
211
213
224
Dividend per share
1.00
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0
0
0.18
0.09
3.32
3.66
5.64
1.32
0.16
6.44
Short-term investments
3.47
Receivables
0.35
0.57
0.34
0
Other current assets
0
0
0.01
0.05
0.04
0.04
0.09
0.15
0.16
0.53
Total current assets
0
0
0.25
0.14
3.37
3.71
6.09
2.04
0.66
6.97
Property, plant and equipment
0.04
0.04
0.02
0.21
0.19
0.43
0.31
1.27
Lease right-of-use assets
0.54
0.43
1.05
1.07
0.81
Other non-current assets
0.44
Total assets
0
0
0.73
2.85
4.63
4.89
6.73
3.54
2.07
9.06
Accounts payable
0.07
0.08
0.68
0.47
0.15
0.2
0.12
0.31
0.26
0.22
Accrued liabilities
0.11
0.19
0
0.02
0
0.02
0.03
0.04
0.06
0.24
Deferred revenue
0.31
Total current liabilities
0.35
0.86
1.37
4.27
1.8
1.42
0.76
0.93
0.73
0.84
Long-term debt
1.5
1
Lease liabilities
0.51
0.39
0.99
0.95
0.66
Total liabilities
0.35
0.86
1.37
5.77
2.93
1.92
1.15
1.92
1.68
1.5
Total debt
1.5
1.13
Paid-in capital
79.2
79.5
82.6
85.9
93.8
100
109
112
120
142
Retained earnings
-79.7
-80.5
-83.5
-89
-92.3
-97.7
-103
-111
-120
-135
Shareholders' equity
-0.35
-0.86
-0.64
-2.92
1.7
2.97
5.58
1.62
0.39
7.56
Total equity
-0.35
-0.86
-0.64
-2.92
1.7
2.97
5.58
1.62
0.39
7.56
Total liabilities and equity
0
0
0.73
2.85
4.63
4.89
6.73
3.54
2.07
9.06
Shares outstanding
155
158
202
207
191
208
211
211
214
230
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.49
-0.79
-3.01
-5.56
-3.23
-5.43
-5.77
-7.35
-9.17
-14.9
Depreciation and amortization
0.01
0.02
0.02
0.07
0.13
0.22
0.28
Stock-based compensation
0.06
0.09
0.38
2.16
1.5
1.78
3.49
3.77
5.14
Change in receivables
-0.01
0.01
-0.35
-0.21
0.23
0.34
Change in inventory
-0.01
0.01
Change in payables
0.07
0.01
0.63
-0.22
-0.23
0.04
-0.08
0.2
-0.05
-0.04
Cash from operations
-0.14
-0.2
-1.79
-3.25
-0.16
-3.21
-3.93
-3.45
-5.09
-9.24
Capital expenditures
-0.01
-0.21
-0.07
-0.37
-0.1
-1.23
Cash from investing
0
-0.04
-0.01
-0.21
-0.07
-0.37
-0.1
-1.23
Stock issued
0.06
2.23
0.85
1.64
5.3
6.59
0.04
4.17
9.99
Cash from financing
0
0.2
2.01
3.17
3.4
3.76
5.98
-0.5
4.04
16.7
Net change in cash
-0.14
0
0.18
-0.09
3.23
0.34
1.98
-4.32
-1.15
6.27
Free cash flow
-3.26
-3.42
-4
-3.82
-5.19
-10.5
Interest paid
0.02
0
0.05
0
0
0.01
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.90 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-735.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-394.9%
Net income / average total assets.
Return on invested capital (ROIC)
-1,195.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-81.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-29.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
21.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-73.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-37.1%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
62.1%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
1,825.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
10.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
34.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
337.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
10.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
14.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
5.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
2.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
3.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.58x
Current assets / current liabilities.
Quick ratio
0.86x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.80x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$0.05
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.04
Cash from operations / diluted weighted shares.
Book value per share
$0.01
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
94.8x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
94.8x
Market cap / tangible book value, when positive.
FCF yield
-5.0%
Free cash flow / market cap.
Earnings yield
-7.8%
Net income / market cap (the inverse of P/E).
What was APPLIED ENERGETICS, INC.'s revenue in fiscal 2025?
APPLIED ENERGETICS, INC. reported revenue of $461.7K for fiscal 2025, 81% lower than the year before.
Was APPLIED ENERGETICS, INC. profitable in fiscal 2025?
No. It reported a net loss of $14.9M.
How much free cash flow did APPLIED ENERGETICS, INC. generate in fiscal 2025?
Cash from operations of $9.2M minus capital expenditures of $1.2M left free cash flow of -$10.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.