APPLIED ENERGETICS INC (AERG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 20, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AERG SEC filings page.
APPLIED ENERGETICS INC (AERG) reported $462K in revenue for fiscal year 2025, down 81.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage operations remain dependent on financing, as revenue contracted while the expense base widened the loss.
FY2025 operating cash flow was-$9.2M against financing inflows of$16.7M , so the balance-sheet improvement came primarily from external funding rather than sales conversion. That distinction matters because reported liquidity equaled 8.4 months of the latest annual operating outflow, while the operating model itself remained cash-consuming.
Revenue fell from
Research and development was
Financial Health Signals
APPLIED ENERGETICS INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
APPLIED ENERGETICS INC scores 49.92, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($188.9M) relative to total liabilities ($1.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
APPLIED ENERGETICS INC passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
APPLIED ENERGETICS INC reported a net loss of $14.9M while operations used $9.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
APPLIED ENERGETICS INC generated $62K in revenue in Q2 2026. This represents a decrease of 11.9% from the same quarter a year earlier.
APPLIED ENERGETICS INC's EBITDA was -$4.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 13.0% from the same quarter a year earlier. Against the prior quarter it is down 12.6%.
APPLIED ENERGETICS INC reported -$4.3M in net income in Q2 2026. This represents a decrease of 13.0% from the same quarter a year earlier. Against the prior quarter it is down 12.4%.
APPLIED ENERGETICS INC earned -$0.02 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Cash & Balance Sheet
APPLIED ENERGETICS INC recorded an outflow of $2.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 16.6% from the same quarter a year earlier. Against the prior quarter it is down 22.4%.
APPLIED ENERGETICS INC held $1.1M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
APPLIED ENERGETICS INC's gross margin was 65.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 32.7 percentage points from the same quarter a year earlier.
APPLIED ENERGETICS INC's ROE was -195.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 27.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 121.4 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
APPLIED ENERGETICS INC invested $699K in research and development in Q2 2026. This represents an increase of 108.0% from the same quarter a year earlier. Against the prior quarter it is up 86.4%.
APPLIED ENERGETICS INC invested $37K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 96.4% from the same quarter a year earlier. Against the prior quarter it is down 14.6%.
Not reported for Q2 2026.
AERG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62K-11.9% | N/A | $73K-90.5% | $109K-85.4% | $70K-91.0% | $210K+56.3% | $764K-12.4% | $748K+4.9% |
| Cost of Revenue | $22K-54.6% | N/A | $48K-84.7% | $53K-89.5% | $47K-87.6% | $64K-76.7% | $313K+115.9% | $509K+191.7% |
| Gross Profit | $40K+77.0% | N/A | $25K-94.5% | $56K-76.7% | $23K-94.2% | $146K+204.0% | $451K-37.9% | $239K-55.6% |
| R&D Expenses | $699K+108.0% | $375K+16.1% | $555K+1007.4% | $456K+549.0% | $336K+786.5% | $323K+299.9% | $50K-24.9% | $70K+29.5% |
| SG&A Expenses | $3.4M+21.1% | $3.3M+25.8% | $3.4M+40.1% | $3.4M+37.3% | $2.8M+20.5% | $2.6M+12.6% | $2.4M+0.9% | $2.5M+10.7% |
| Operating Income | -$4.3M-13.6% | -$3.8M-23.3% | -$4.1M-91.2% | -$4.0M-67.2% | -$3.8M-83.7% | -$3.1M-18.8% | -$2.1M-18.4% | -$2.4M-29.8% |
| EBITDA | -$4.2M-13.0% | -$3.7M-22.7% | -$4.0M | -$3.9M-67.8% | -$3.7M | -$3.0M-19.1% | N/A | -$2.3M-29.3% |
| Net Income | -$4.3M-13.0% | -$3.8M-22.6% | -$4.0M-88.5% | -$4.0M-67.2% | -$3.8M-83.7% | -$3.1M-18.9% | -$2.1M-19.3% | -$2.4M-31.1% |
| EPS (Basic) | -$0.020.0% | -$0.02-100.0% | -$0.02-100.0% | -$0.02-100.0% | -$0.02-100.0% | -$0.01 | -$0.01 | -$0.010.0% |
| EPS (Diluted) | -$0.020.0% | -$0.02 | -$0.02-100.0% | -$0.02-100.0% | -$0.02-100.0% | -$0.01 | -$0.01 | -$0.010.0% |
| Diluted Shares (Avg) | 230M+3.5% | 230M | N/A | N/A | 222M+4.5% | 217M+2.9% | N/A | 214M+1.2% |
Not reported in any period shown, so not listed: Interest Expense, Income Tax.
AERG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.1M+15.2% | $6.6M+11.8% | $9.1M+337.7% | $4.0M+14.5% | $3.5M-24.3% | $5.9M+92.9% | $2.1M-41.5% | $3.5M-20.5% |
| Current Assets | $2.2M+81.6% | $4.6M+2.6% | $7.0M+948.4% | $1.8M-10.2% | $1.2M-63.2% | $4.5M+171.6% | $665K-67.3% | $2.0M-32.8% |
| Cash & Equivalents | $1.1M+29.0% | $4.1M-5.2% | $6.4M+3805.1% | $1.3M-17.2% | $866K-69.0% | $4.3M+325.2% | $165K-87.5% | $1.6M-33.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $81K | $0-100.0% | $0-100.0% | $109K-42.8% | $0-100.0% | $90K-71.5% | $336K-40.9% | $190K-52.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.9M+2.8% | $1.5M-7.6% | $1.5M-10.3% | $4.7M+148.9% | $1.8M+15.0% | $1.6M-47.2% | $1.7M-12.7% | $1.9M-4.4% |
| Current Liabilities | $1.4M+40.6% | $937K+22.3% | $840K+14.7% | $924K+4.0% | $995K+42.5% | $766K-64.4% | $732K-21.0% | $889K-6.7% |
| Non-Current Liabilities | $485K-42.0% | $576K-33.8% | $665K-29.7% | $3.8M+275.3% | $837K-6.4% | $871K-8.0% | $946K-4.9% | $1.0M-2.2% |
| Total Equity | $2.2M+28.6% | $5.1M+19.2% | $7.6M+1824.8% | -$730K-145.6% | $1.7M-44.7% | $4.3M+16284.3% | $393K-75.8% | $1.6M-33.8% |
| Retained Earnings | -$142.9M-12.7% | -$138.7M-12.7% | -$134.9M-12.4% | -$130.9M-11.0% | -$126.9M-9.9% | -$123.1M-8.5% | -$120.0M-8.3% | -$117.9M-8.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
AERG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M-18.0% | -$2.3M-32.6% | -$2.6M-92.9% | -$2.5M-134.1% | -$2.4M-112.4% | -$1.7M-12.3% | -$1.4M-55.6% | -$1.1M-108.9% |
| Depreciation & Amortization | $87K+49.9% | $88K+57.0% | $87K+50.1% | $81K+42.1% | $58K | $56K+7.1% | $58K+55.7% | $57K+53.9% |
| Stock-Based Compensation | N/A | $1.3M+35.9% | N/A | N/A | N/A | $992K+3.8% | N/A | N/A |
| Capital Expenditures | $37K-96.4% | $43K-62.0% | $53K+22.3% | $30K | $1.0M | $114K | $43K-77.3% | $0-100.0% |
| Free Cash Flow | -$2.9M+16.6% | -$2.3M-26.8% | -$2.7M-90.7% | -$2.5M-136.9% | -$3.4M | -$1.8M | -$1.4M-31.7% | -$1.1M-72.5% |
| Investing Cash Flow | -$37K+96.4% | -$43K+62.0% | -$53K-22.3% | -$30K | -$1.0M | -$114K | -$43K+77.3% | $0+100.0% |
| Financing Cash Flow | -$7K-153.0% | -$32K-100.5% | $7.8M+18918.8% | $3.0M+2545.9% | $14K-99.5% | $6.0M+384.8% | -$41K-18.8% | -$122K+34.5% |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Share Buybacks.
AERG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.2%+32.7pp | N/A | 34.2%-24.9pp | 51.0%+19.0pp | 32.5%-18.3pp | 69.5% | 59.1%-24.3pp | 32.0%-43.6pp |
| Operating Margin | -6934.9% | N/A | -5598.6% | -3643.8% | -5382.5% | -1480.6% | -278.5% | -317.6% |
| Net Margin | -6901.2% | N/A | -5519.4% | -3643.8% | -5382.4% | -1480.6% | -278.5% | -317.6% |
| Return on Equity | -195.8%+27.0pp | -74.4%-2.1pp | -53.0%+488.8pp | N/A | -222.8%-155.7pp | -72.4% | -541.8%-431.8pp | -148.3%-73.5pp |
| Return on Assets | -105.2%+2.1pp | -57.4%-5.1pp | -44.2%+58.5pp | -98.9%-31.2pp | -107.2%-63.0pp | -52.4%+32.6pp | -102.8%-52.4pp | -67.7%-26.7pp |
| Current Ratio | 1.58+0.4x | 4.96-1.0x | 8.29+7.4x | 1.97-0.3x | 1.22-3.5x | 5.91+5.1x | 0.91-1.3x | 2.28-0.9x |
| Debt-to-Equity | 0.86-0.2x | 0.30-0.1x | 0.20-4.1x | N/A | 1.08+0.6x | 0.38 | 4.27+3.1x | 1.19+1.2x |
| Asset Turnover | 0.020.0x | N/A | 0.01-0.4x | 0.03-0.2x | 0.02-0.1x | 0.040.0x | 0.37+0.1x | 0.21+0.1x |
| FCF Margin | -4620.7% | N/A | -3679.6% | -2312.3% | -4881.6% | -880.0% | -183.5% | -142.3% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| APPLIED ENERGETICS INC AERG | FY2025 | $462K | -$14.9M | N/A | $188.9M | — |
| AUTOSCOPE TECHS CORP AATC | FY2021 | $13.2M | $2.3M | 17.3% | $32.3M | — |
| LUNA INNOVATIONS INC LUNA | FY2022 | $109.5M | $9.3M | 8.5% | $46.5M | — |
Where APPLIED ENERGETICS INC Ranks
Frequently Asked Questions
What is APPLIED ENERGETICS INC's annual revenue?
APPLIED ENERGETICS INC (AERG) reported $462K in total revenue for fiscal year 2025. This represents a -81.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is APPLIED ENERGETICS INC's revenue growing?
APPLIED ENERGETICS INC (AERG) revenue declined by 81.0% year-over-year, from $2.4M to $462K in fiscal year 2025.
Is APPLIED ENERGETICS INC profitable?
No, APPLIED ENERGETICS INC (AERG) reported a net income of -$14.9M in fiscal year 2025.
What is APPLIED ENERGETICS INC's EBITDA?
APPLIED ENERGETICS INC (AERG) had EBITDA of -$14.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is APPLIED ENERGETICS INC's gross margin?
APPLIED ENERGETICS INC (AERG) had a gross margin of 53.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is APPLIED ENERGETICS INC's return on equity (ROE)?
APPLIED ENERGETICS INC (AERG) has a return on equity of -196.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is APPLIED ENERGETICS INC's free cash flow?
APPLIED ENERGETICS INC (AERG) recorded an outflow of $10.5M in free cash flow during fiscal year 2025. This represents a -101.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is APPLIED ENERGETICS INC's operating cash flow?
APPLIED ENERGETICS INC (AERG) recorded an outflow of $9.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are APPLIED ENERGETICS INC's total assets?
APPLIED ENERGETICS INC (AERG) had $9.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are APPLIED ENERGETICS INC's capital expenditures?
APPLIED ENERGETICS INC (AERG) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does APPLIED ENERGETICS INC spend on research and development?
APPLIED ENERGETICS INC (AERG) invested $1.7M in research and development during fiscal year 2025.
What is APPLIED ENERGETICS INC's current ratio?
APPLIED ENERGETICS INC (AERG) had a current ratio of 8.29 as of fiscal year 2025, which is generally considered healthy.
What is APPLIED ENERGETICS INC's debt-to-equity ratio?
APPLIED ENERGETICS INC (AERG) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is APPLIED ENERGETICS INC's return on assets (ROA)?
APPLIED ENERGETICS INC (AERG) had a return on assets of -164.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is APPLIED ENERGETICS INC's P/E ratio?
APPLIED ENERGETICS INC (AERG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $188.9M as of Oct 20, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is APPLIED ENERGETICS INC's price-to-sales ratio?
APPLIED ENERGETICS INC (AERG) trades at 409x sales, its market capitalization divided by revenue of $462K revenue, FY2025. The market capitalization is $188.9M as of Oct 20, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does APPLIED ENERGETICS INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, APPLIED ENERGETICS INC (AERG) held $6.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $9.2M over that year. Dividing the one by the other, the reported balance equals about 8 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is APPLIED ENERGETICS INC's Altman Z-Score?
APPLIED ENERGETICS INC (AERG) has an Altman Z-Score of 49.92, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is APPLIED ENERGETICS INC's Piotroski F-Score?
APPLIED ENERGETICS INC (AERG) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are APPLIED ENERGETICS INC's earnings high quality?
APPLIED ENERGETICS INC (AERG) reported a net loss of $14.9M while operations used $9.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.