PAVmed Inc. PAVM
PAVmed is a diversified commercial-stage life sciences company operating in the medical device, diagnostics, and digital health sectors. It operates through multiple independently financed subsidiaries under a shared services model. The Company's strategy is to advance and commercialize innovative healthcare technologies through its subsidiaries while maintaining flexibility to structure financing at either the PAVmed level or within its subsidiaries.
The Company's subsidiaries include Lucid Diagnostics, a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device, of which the Company is the largest voting stockholder, and Veris Health, a majority-owned digital health company focused on improving personalized cancer care during treatment and throughout survivorship through digital health tools and the development of an implantable physiological monitor designed to interface with the Veris Cancer Care Platform.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $71.0K | $3.0M | $2.5M | $377.0K | $500.0K | — | — | — | — | — |
| Cost of revenue | $218.0K | $4.8M | $6.4M | $3.6M | $585.0K | — | — | — | — | — |
| Gross profit | -$147.0K | -$1.8M | -$4.0M | -$3.2M | -$85.0K | — | — | — | — | — |
| R&D | $4.5M | $5.9M | $14.3M | $25.3M | $19.8M | $11.0M | $6.6M | $4.3M | $2.6M | $1.7M |
| SG&A | $16.2M | $24.5M | $30.9M | $41.4M | $25.4M | $9.6M | $7.7M | $6.3M | $5.4M | $3.9M |
| Total operating expenses | $21.9M | $47.5M | $71.2M | $91.5M | $54.9M | $23.4M | $14.3M | $10.6M | $8.0M | $5.7M |
| Operating income | -$21.8M | -$44.5M | -$68.8M | -$91.1M | -$54.4M | -$23.4M | -$14.3M | -$10.6M | -$8.0M | -$5.7M |
| Interest expense | $21.0K | $45.0K | — | — | — | — | — | $2.4M | $724.7K | — |
| Pre-tax income | -$2.5M | $28.4M | -$79.3M | -$103.2M | -$56.1M | -$35.9M | -$17.3M | -$18.2M | -$9.5M | -$5.7M |
| Income tax | $0 | $0 | — | — | — | — | — | — | — | — |
| Net income | -$3.8M | $32.0M | -$66.3M | -$89.0M | -$50.3M | -$34.3M | -$16.5M | -$18.0M | -$9.5M | -$5.7M |
| EPS, basic | -5.63 | 99.15 | -9.16 | -15.03 | -0.65 | — | — | — | — | — |
| EPS, diluted | -5.63 | 14.90 | -9.16 | -15.03 | -0.65 | -0.72 | -0.54 | -0.81 | -0.71 | -0.44 |
| Shares, diluted (wtd. avg.) | 670,466 | 2.2M | 7.2M | 5.9M | 77.5M | — | — | — | — | 13.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.5M | $1.2M | $19.6M | $39.7M | $77.3M | $17.3M | $6.2M | $8.2M | $1.5M | $585.7K |
| Receivables | $15.0K | $18.0K | $61.0K | $17.0K | $200.0K | — | — | — | — | — |
| Inventory | — | — | $278.0K | $111.0K | — | — | — | — | — | — |
| Total current assets | $2.6M | $2.2M | $24.5M | $43.9M | $82.6M | $18.9M | $6.5M | $8.5M | $1.6M | $741.2K |
| Property, plant and equipment | $77.0K | $151.0K | $1.8M | $2.5M | $1.6M | $82.0K | — | $36.3K | $16.2K | $18.0K |
| Other intangibles | — | — | $1.4M | $3.4M | $2.0M | — | — | — | — | — |
| Total assets | $38.8M | $30.7M | $33.1M | $54.0M | $87.0M | $19.8M | $7.2M | $8.5M | $1.6M | $870.4K |
| Accounts payable | $678.0K | $657.0K | $1.8M | $2.7M | $3.3M | $3.0M | $2.4M | $1.7M | $863.5K | $949.4K |
| Total current liabilities | $14.8M | $35.4M | $54.2M | $41.2M | $7.6M | — | $11.9M | $11.0M | $2.5M | $1.2M |
| Total liabilities | $16.5M | $37.7M | $57.1M | $43.0M | $7.6M | $20.3M | $11.9M | $11.0M | $4.5M | $1.2M |
| Retained earnings | -$258.7M | -$255.0M | -$294.4M | -$228.2M | -$138.9M | -$88.3M | -$53.7M | -$37.0M | -$17.9M | -$7.7M |
| Total equity | $34.0M | -$2.5M | -$24.0M | $10.9M | $79.4M | -$473.0K | -$4.6M | -$2.5M | -$2.8M | -$319.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.2M | -$33.6M | -$52.0M | -$71.0M | -$40.6M | -$21.9M | -$13.4M | -$8.8M | -$6.6M | -$4.5M |
| Depreciation and amortisation | $105.0K | $1.2M | $2.9M | $2.5M | $226.0K | $23.0K | $14.0K | $9.8K | $7.1K | $3.8K |
| Stock-based compensation | $1.7M | $6.4M | $11.1M | $19.5M | $15.0M | $2.0M | $1.6M | $1.2M | $1.0M | $747.4K |
| Capital expenditure | $31.0K | $55.0K | $242.0K | $1.5M | $1.5M | $55.0K | $27.0K | $26.6K | $5.3K | $21.8K |
| Investing cash flow | -$31.0K | -$16.2M | $758.0K | -$4.7M | -$3.7M | -$55.0K | -$27.0K | -$26.6K | -$5.3K | -$21.8K |
| Financing cash flow | $5.6M | $31.3M | $31.2M | $38.2M | $104.3M | $33.0M | $11.4M | $15.5M | $7.6M | $4.3M |
| Buybacks | — | — | — | — | — | — | $101.1K | — | — | — |
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 0001493152-26-020705.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $500.0K | $377.0K | $2.5M | $3.0M | $71.0K |
| Gross profit | — | — | — | — | — | -$85.0K | -$3.2M | -$4.0M | -$1.8M | -$147.0K |
| Net income | -$5.7M | -$9.5M | -$18.0M | -$16.5M | -$34.3M | -$50.3M | -$89.0M | -$66.3M | $32.0M | -$3.8M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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