PAVmed Inc. (PAVM) Financial Statements
Industry: Surgical & Medical Instruments & Apparatus
In fiscal 2025, PAVmed reported revenue of $71,000, down 97.6% from $3.0M the year before. Net income was $401,000 (a 564.8% net margin), or -$5.63 per diluted share. Gross margin was -207.0% and operating margin was -30712.7%. Operating activities generated -$5.2M of cash, leaving -$5.2M of free cash flow. At fiscal year end, PAVmed held $38.8M in total assets against $16.5M in total liabilities, including $1.5M of cash and equivalents.
Open the full interactive PAVmed financials → Quarterly statements, key ratios, valuation history and price charts.
PAVmed Key Stats
| Share Price | $2.64 |
|---|---|
| Market Cap | $16.6M |
| Revenue YoY Growth | -97.6% |
| 52-Week Range | $2.64 – $16.65 |
| Shares Outstanding | 6.3 million (basic, 2026 Q2) |
PAVmed Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | — | $500,000 | $377,000 | $2.5M | $3.0M | $71,000 |
| Cost of Goods Sold | — | — | $91.3M | $71.2M | $47.5M | $21.9M |
| Gross Profit | — | -$85,000 | -$3.2M | -$3.9M | -$1.8M | -$147,000 |
| Operating Income | -$23.4M | -$54.4M | -$90.9M | -$68.8M | -$44.5M | -$21.8M |
| Pre-Tax Income | -$35.9M | -$56.1M | -$103.2M | -$79.3M | $28.4M | -$2.5M |
| Income Tax | -$1.6M | -$5.8M | -$14.3M | -$15.1M | -$11.4M | $0 |
| Net Income | -$34.3M | -$50.3M | -$89.0M | -$64.2M | $39.8M | $401,000 |
| Diluted EPS | -$324.00 | -$292.50 | — | -$274.80 | $15.00 | -$5.63 |
PAVmed Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $5,000 | $52,000 | $22,000 | $33,000 |
| Net Income | -$5.4M | -$1.3M | -$60,000 | -$5.4M |
| Diluted EPS | -$8.70 | -$1.88 | -$4.42 | -$0.87 |
PAVmed Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.3M | $77.3M | $39.7M | $19.6M | $1.2M | $1.5M |
| Current Assets | $18.9M | $82.6M | $43.9M | $24.5M | $2.2M | $2.6M |
| Total Assets | $19.8M | $87.0M | $54.0M | $33.1M | $30.7M | $38.8M |
| Current Liabilities | — | — | $41.2M | $54.2M | $35.4M | $14.8M |
| Total Liabilities | $20.3M | $7.6M | $43.0M | $57.1M | $37.7M | $16.5M |
| Shareholders' Equity | $1.9M | $61.7M | -$9.7M | -$53.8M | -$2.5M | $34.0M |
PAVmed Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$21.9M | -$40.6M | -$71.0M | -$52.0M | -$33.6M | -$5.2M |
| Cash From Investing | -$55,000 | -$3.7M | -$4.7M | $758,000 | -$16.2M | -$31,000 |
| Cash From Financing | $33.0M | $104.3M | $38.2M | $31.2M | $31.3M | $5.6M |
| Free Cash Flow | -$22.0M | -$42.1M | -$72.5M | -$52.2M | -$33.7M | -$5.2M |
Figures from PAVmed's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full PAVmed financials page for every line item.
PAVmed Company Profile
| Ticker | PAVM |
|---|---|
| Exchange | Nasdaq |
| Industry | Surgical & Medical Instruments & Apparatus |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001624326 |
Frequently Asked Questions
What was PAVmed's revenue in fiscal 2025?
PAVmed (PAVM) reported revenue of $71,000 for fiscal 2025.
What is PAVmed's annual revenue history?
PAVmed's annual revenue by fiscal year: 2021: $500,000; 2022: $377,000; 2023: $2.5M; 2024: $3.0M; 2025: $71,000.
What was PAVmed's net income in fiscal 2025?
PAVmed reported net income of $401,000 for fiscal 2025.
What was PAVmed's earnings per share (EPS) in fiscal 2025?
PAVmed's diluted EPS was -$5.63 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did PAVmed generate in fiscal 2025?
PAVmed generated -$5.2M of free cash flow in fiscal 2025.
What was PAVmed's revenue last quarter?
In its most recent reported quarter (2026 Q2), PAVmed reported revenue of $33,000.
How many shares of PAVmed are outstanding?
PAVmed reported a weighted average of 6.3 million basic shares outstanding in 2026 Q2.
What is PAVmed's market cap?
Based on its latest closing price, PAVmed (PAVM) has a market capitalization of about $16.6M.
When does PAVmed's fiscal year end?
PAVmed's fiscal year end, as registered with the SEC, is December 31.
Where is PAVmed headquartered?
PAVmed lists its business address in New York, New York in its SEC filings.
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