AETHLON MEDICAL INC AEMD
the context otherwise requires, references to the "Company", "Aethlon", "we", "us" and
"our" refer to Aethlon Medical, Inc.
focused on developing the Hemopurifier® (HP), a clinical-stage investigational immunotherapeutic device designed to address unmet
needs in oncology, life-threatening infectious diseases, organ transplantation and other disease states in which extracellular vesicles
Last close
1.82
2026-09-04
Market cap
$1.3M
2026-06-30 share count
52-week range
1.67 - 41.35
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-10.61
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $574.2K | $294.2K | $659.1K | $650.2K | $229.6K | $149.6K | $392.1K |
| R&D | $1.9M | $2.2M | $2.5M | $2.7M | $2.3M | $2.1M | $927.0K | $896.0K | $586.0K | $673.0K |
| SG&A | $2.7M | $3.2M | $3.9M | $4.5M | $3.5M | $2.5M | $1.5M | $953.5K | $792.6K | $849.5K |
| Total operating expenses | $7.3M | $9.3M | $12.6M | $12.5M | $10.7M | $8.6M | $6.6M | $6.2M | $5.0M | $6.5M |
| Operating income | -$7.3M | -$9.3M | -$12.6M | -$11.9M | -$10.4M | -$7.9M | -$5.9M | -$6.0M | -$4.8M | -$6.1M |
| Interest expense | $14.4K | $10.1K | — | — | — | — | — | — | — | — |
| Pre-tax income | -$7.2M | -$13.4M | -$12.2M | -$12.0M | -$10.4M | -$7.9M | -$6.4M | -$6.2M | -$5.7M | -$7.3M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$7.2M | -$13.4M | -$12.2M | -$12.0M | -$10.4M | -$7.9M | -$6.4M | -$6.2M | -$5.7M | -$7.3M |
| EPS, basic | -10.61 | -85.77 | -38.87 | -5.86 | -0.71 | — | — | — | — | — |
| EPS, diluted | -10.61 | -85.77 | -38.87 | -5.86 | -0.71 | -0.65 | -1.87 | -5.13 | -0.10 | -0.94 |
| Shares, diluted (wtd. avg.) | $673.9K | $156.1K | $314.1K | $2.1M | $14.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.0M | $5.5M | $5.5M | $14.6M | $17.2M | $9.9M | $9.6M | — | — | — |
| Receivables | — | — | — | $0 | $128.0K | $149.1K | $206.7K | $0 | $74.8K | $0 |
| Total current assets | $5.6M | $5.9M | $6.2M | $15.1M | $18.2M | $10.4M | $10.0M | $4.0M | $7.2M | $1.6M |
| Property, plant and equipment | $356.8K | $676.2K | $1.0M | $1.1M | $441.2K | $161.0K | $140.5K | $6.0K | $27.6K | $29.2K |
| Other intangibles | $0 | $550 | $1.1K | $1.6K | $2.2K | $57.0K | $57.5K | $66.7K | $75.8K | $85.0K |
| Total assets | $6.3M | $7.4M | $8.2M | $17.5M | $19.4M | $10.7M | $10.4M | $4.1M | $7.4M | $1.7M |
| Accounts payable | $384.6K | $534.5K | $777.9K | $432.9K | $500.0K | $337.7K | $285.0K | $131.9K | $124.5K | $484.4K |
| Total current liabilities | $1.4M | $1.9M | $1.8M | $1.5M | $1.8M | $1.4M | $1.1M | $1.8M | $478.0K | $611.8K |
| Total liabilities | $1.4M | $2.2M | $2.5M | $2.4M | $2.4M | $1.4M | $1.1M | $1.8M | $1.3M | $1.1M |
| Retained earnings | -$175.1M | -$168.0M | -$154.6M | -$142.4M | -$130.3M | -$119.9M | -$112.0M | -$105.7M | -$99.5M | -$93.8M |
| Total equity | $4.9M | $5.1M | $5.8M | $15.1M | $17.0M | $9.3M | $9.3M | $2.3M | $6.0M | $595.4K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.0M | -$7.6M | -$10.1M | -$10.5M | -$9.8M | -$6.8M | -$5.2M | -$4.3M | -$3.9M | -$3.5M |
| Depreciation and amortisation | $323.7K | $339.6K | $359.1K | $240.9K | $123.7K | $39.9K | $26.4K | $30.7K | $35.7K | $32.4K |
| Stock-based compensation | $278.5K | $415.2K | $1.2M | $1.1M | $750.6K | $779.4K | $844.0K | $1.3M | $1.3M | $2.2M |
| Capital expenditure | $3.7K | $0 | $250.9K | $943.1K | $349.2K | $59.9K | $151.7K | $0 | $24.8K | $16.4K |
| Investing cash flow | -$3.7K | $0 | -$250.9K | -$943.1K | -$349.2K | -$59.9K | -$151.7K | $0 | -$24.8K | -$16.4K |
| Financing cash flow | $6.5M | $7.7M | $1.3M | $8.9M | $17.4M | $7.1M | $11.1M | $1.1M | $9.3M | $3.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-26-006844.
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