PAVmed (PAVM) Financial Statements & Analysis

PAVmed (PAVM) Income Statement

PAVmed reported revenue of $71.00K in fiscal 2025 (fiscal year ended Dec 31, 2025), down 97.6% from $3.00M a year earlier. Net income was $401.00K, down 99.0% year over year, a net margin of 564.8%. Gross margin was -207.0% and operating margin -30712.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $33.00K, up 450.0% from the same quarter a year earlier.

PAVmed Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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PAVmed Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Mar 2020	Mar 2019	Dec 2017
Revenue & Gross Profit
Revenue	0.07	3.00	2.45	0.38	0.50	0.00	0.00	0.00	0.00
Cost of Revenue	0.22	6.04	6.42	3.61	0.59	0.00	0.01	0.01	0.01
Gross Profit	-0.15	-3.04	-3.97	-3.24	-0.09	0.00	-0.01	-0.01	-0.01
Operating Expenses
Research & Development	4.49	5.93	14.28	25.34	19.85	10.96	6.63	4.25	2.62
Selling, General & Administrative	17.17	36.15	48.53	60.73	34.32	12.39	7.66	6.31	5.42
Operating Expenses	21.66	41.44	64.83	87.85	54.31	23.35	14.30	10.56	8.03
Operating Income	-21.81	-44.49	-68.80	-91.09	-54.39	-23.35	-14.30	-10.56	-8.03
Other Income/Expense
Interest Income	0.03	0.25	0.51	0.17	0.00	0.05	0.03	0.00	0.00
Interest Expense	0.02	0.05	-0.59	1.28	0.00	0.05	0.03	2.39	0.72
Other Income/Expense	19.34	72.91	0.51	-11.04	1.68	-12.54	-2.97	-7.61	-1.49
Income
Income Before Tax	-2.47	28.43	-79.26	-103.24	-56.13	-35.89	-17.27	-18.17	-9.52
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	0.40	39.79	-66.27	-88.98	-50.63	-34.28	-15.93	-17.97	-9.52
Net Income - Continuous Operations	-2.47	39.79	-64.18	-103.24	-50.35	-34.28	-15.93	-17.97	-9.52
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-21.70	29.67	-65.86	-99.50	-54.17	-23.33	-16.67	-12.07	-11.15
EBIT	-21.81	-44.49	-68.80	-101.96	-54.39	-23.35	-	-	-
Depreciation & Amortization	0.11	1.20	2.93	1.78	0.23	0.02	0.01	0.01	0.01
Earnings Per Share
Basic EPS	-6.00	99.00	-275.00	-451.00	-294.00	-328.00	-249.00	-379.00	-346.00
Diluted EPS	-6.00	15.00	-275.00	-451.00	-189.00	-328.00	-249.00	-379.00	-346.00
Basic Shares Outstanding	0.67	0.32	0.24	0.20	0.17	0.11	0.07	0.05	0.03
Diluted Shares Outstanding	0.67	2.18	0.24	0.20	0.17	0.11	0.07	0.05	0.03

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About PAVmed Financial Statements

What was PAVmed's revenue in fiscal 2025?

PAVmed reported revenue of $71.00K in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 97.6% from $3.00M a year earlier.

Is PAVmed profitable?

Yes. PAVmed earned net income of $401.00K in fiscal 2025, a net margin of 564.8%. In fiscal 2024 it earned $39.79M.

What is PAVmed's operating margin?

PAVmed's operating income was −$21.81M on revenue of $71.00K in fiscal 2025, an operating margin of -30712.7%, compared with -1485.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition