Applied Therapeutics Financials

APLT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Applied Therapeutics (APLT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Financial Health Signals

Financial Profile 48/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Applied Therapeutics has an operating margin of -22922.9%, meaning the company retains $-22923 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -645.8% the prior year.

Growth

Applied Therapeutics's revenue declined 95.4% year-over-year, from $10.0M to $455K. This contraction results in a growth score of 0/100.

Leverage

Applied Therapeutics carries a low D/E ratio of 0.52, meaning only $0.52 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.06, Applied Therapeutics holds $3.06 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Piotroski F-Score Weak

3/9

Applied Therapeutics passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.80x

For every $1 of reported earnings, Applied Therapeutics generates $0.80 in operating cash flow (-$84.3M OCF vs -$105.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$455K

YoY-95.4%

Applied Therapeutics generated $455K in revenue in fiscal year 2024. This represents a decrease of 95.4% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$105.6M

YoY+11.8%

Applied Therapeutics reported -$105.6M in net income in fiscal year 2024. This represents an increase of 11.8% from the prior year.

EPS (Diluted)

$-0.76

YoY+46.5%

Applied Therapeutics earned $-0.76 per diluted share (EPS) in fiscal year 2024. This represents an increase of 46.5% from the prior year.

Cash & Debt

$79.4M

YoY+59.1%

5Y CAGR+33.3%

Applied Therapeutics held $79.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

137M

YoY+61.7%

5Y CAGR+49.2%

Applied Therapeutics had 137M shares outstanding in fiscal year 2024. This represents an increase of 61.7% from the prior year.

Gross Margin

N/A

Operating Margin

-22922.9%

YoY-22277.1pp

Applied Therapeutics's operating margin was -22922.9% in fiscal year 2024, reflecting core business profitability. This is down 22277.1 percentage points from the prior year.

Net Margin

-23214.1%

YoY-22015.6pp

Applied Therapeutics's net profit margin was -23214.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 22015.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$48.7M

YoY-9.6%

5Y CAGR+8.5%

Applied Therapeutics invested $48.7M in research and development in fiscal year 2024. This represents a decrease of 9.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

APLT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$455K-95.4%	$10.0M	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$48.7M-9.6%	$53.9M-3.1%	$55.6M-11.1%	$62.6M+1.3%	$61.8M+91.0%	$32.4M
SG&A Expenses	$56.0M+171.6%	$20.6M-24.5%	$27.3M-36.5%	$43.0M+31.7%	$32.7M+147.0%	$13.2M
Operating Income	-$104.3M-61.6%	-$64.5M+22.2%	-$83.0M+21.5%	-$105.6M-11.8%	-$94.5M-107.2%	-$45.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$105.6M+11.8%	-$119.8M-45.2%	-$82.5M+21.9%	-$105.6M-12.4%	-$94.0M-106.4%	-$45.5M
EPS (Diluted)	$-0.76+46.5%	$-1.42+34.9%	$-2.18+47.1%	$-4.12+3.7%	$-4.28	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.0M	$0	$0+100.0%	-$1K-100.7%	$144K-24.2%	$190K	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$9.6M-3.2%	$9.9M+26.6%	$7.8M-33.0%	$11.7M+16.9%	$10.0M-18.1%	$12.2M	N/A	$10.8M
SG&A Expenses	$8.2M-38.1%	$13.2M-25.5%	$17.7M-17.1%	$21.3M+101.6%	$10.6M+16.7%	$9.1M	N/A	$4.7M
Operating Income	-$16.8M+27.4%	-$23.1M+9.5%	-$25.5M+22.7%	-$33.0M-61.6%	-$20.4M+3.1%	-$21.1M	N/A	-$15.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$19.0M+11.0%	-$21.3M+2.3%	-$21.8M-149.6%	$44.0M+1418.5%	$2.9M+103.5%	-$83.9M	N/A	-$42.4M
EPS (Diluted)	$-0.13+13.3%	$-0.150.0%	$-0.15-128.8%	$0.52+500.0%	$-0.13+80.6%	$-0.67	N/A	$-0.47

APLT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$86.7M+58.1%	$54.8M+42.9%	$38.4M-57.3%	$89.9M-14.0%	$104.5M+116.0%	$48.4M
Current Assets	$83.6M+53.8%	$54.4M+45.8%	$37.3M-57.8%	$88.4M-13.8%	$102.6M+122.3%	$46.2M
Cash & Equivalents	$79.4M+59.1%	$49.9M+199.6%	$16.7M-69.1%	$53.9M-6.2%	$57.5M+204.9%	$18.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$29.7M-58.8%	$72.0M+109.8%	$34.3M+25.4%	$27.4M+21.2%	$22.6M+43.0%	$15.8M
Current Liabilities	$27.3M-61.7%	$71.2M+113.0%	$33.4M+26.3%	$26.5M+24.6%	$21.2M+50.6%	$14.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$57.0M+432.5%	-$17.1M-522.2%	$4.1M-93.5%	$62.5M-23.7%	$81.9M+151.3%	$32.6M
Retained Earnings	-$574.2M-22.5%	-$468.6M-34.3%	-$348.8M-31.0%	-$266.3M-65.7%	-$160.7M-140.7%	-$66.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$34.4M-7.9%	$37.3M-34.4%	$56.9M-34.4%	$86.7M-32.2%	$127.8M-15.5%	$151.2M+175.8%	$54.8M+21.3%	$45.2M
Current Assets	$31.7M-8.3%	$34.5M-36.1%	$54.0M-35.5%	$83.6M-34.4%	$127.6M-15.5%	$150.9M+177.5%	$54.4M+22.2%	$44.5M
Cash & Equivalents	$11.9M-60.7%	$30.4M-40.1%	$50.8M-36.1%	$79.4M-35.0%	$122.2M-16.6%	$146.5M+193.6%	$49.9M+33.2%	$37.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$34.9M+75.5%	$19.9M-1.7%	$20.2M-31.8%	$29.7M-46.4%	$55.4M-34.0%	$83.9M+16.6%	$72.0M+28.0%	$56.2M
Current Liabilities	$32.9M+85.4%	$17.7M-1.2%	$18.0M-34.2%	$27.3M-50.7%	$55.4M-34.0%	$83.9M+17.9%	$71.2M+28.2%	$55.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$561K-103.2%	$17.4M-52.4%	$36.7M-35.7%	$57.0M-21.3%	$72.4M+7.6%	$67.3M+492.5%	-$17.1M-55.3%	-$11.0M
Retained Earnings	-$636.4M-3.1%	-$617.4M-3.6%	-$596.0M-3.8%	-$574.2M-4.5%	-$549.6M+0.5%	-$552.5M-17.9%	-$468.6M-8.7%	-$430.9M

APLT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$84.3M-52.8%	-$55.2M+29.3%	-$78.1M+13.9%	-$90.7M-16.0%	-$78.2M-115.4%	-$36.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	$13.9M+5.3%	$13.2M+5.9%	$12.4M+163.9%	-$19.5M+2.7%	-$20.0M
Financing Cash Flow	$113.8M+52.7%	$74.5M+169.2%	$27.7M-62.9%	$74.7M-45.2%	$136.3M+141.6%	$56.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$18.4M+9.5%	-$20.3M+29.0%	-$28.6M-47.1%	-$19.5M+13.8%	-$22.6M-19.5%	-$18.9M-11.2%	-$17.0M-15.5%	-$14.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$0	$0	$0	$0	N/A	N/A	$0	$0
Financing Cash Flow	-$75K	$0	$0	$0+100.0%	-$1.7M-101.5%	$115.5M+292.2%	$29.4M+77.7%	$16.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

APLT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-22922.9%-22277.1pp	-645.8%	N/A	N/A	N/A	N/A
Net Margin	-23214.1%-22015.6pp	-1198.5%	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-121.8%+96.6pp	-218.4%-3.3pp	-215.1%-97.6pp	-117.5%-27.6pp	-89.9%+4.1pp	-94.1%
Current Ratio	3.06+2.3	0.76-0.4	1.12-2.2	3.34-1.5	4.83+1.6	3.27
Debt-to-Equity	0.52+4.7	-4.20-12.6	8.45+8.0	0.44+0.2	0.28-0.2	0.48
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1675.8%	N/A	N/A	-24379.5%-10185.1pp	-14194.4%-3092.9pp	-11101.6%	N/A	N/A
Net Margin	-1899.0%	N/A	N/A	-56222.1%-58234.6pp	2012.5%+46190.4pp	-44177.9%	N/A	N/A
Return on Equity	N/A	N/A	N/A	77.2%+73.2pp	4.0%	N/A	N/A	N/A
Return on Assets	-55.3%+1.9pp	-57.1%-18.8pp	-38.4%-89.1pp	50.8%+48.5pp	2.3%+57.8pp	-55.5%	N/A	-93.8%
Current Ratio	0.96-1.0	1.94-1.1	3.00-0.1	3.06+0.8	2.30+0.5	1.80+1.0	0.76-0.0	0.80
Debt-to-Equity	-62.27-63.4	1.14+0.6	0.55+0.0	0.52-0.2	0.77-0.5	1.25+5.4	-4.20+0.9	-5.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Applied Therapeutics's annual revenue?

Applied Therapeutics (APLT) reported $455K in total revenue for fiscal year 2024. This represents a -95.4% 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 Therapeutics's revenue growing?

Applied Therapeutics (APLT) revenue declined by 95.4% year-over-year, from $10.0M to $455K in fiscal year 2024.

Is Applied Therapeutics profitable?

No, Applied Therapeutics (APLT) reported a net income of -$105.6M in fiscal year 2024, with a net profit margin of -23214.1%.

What is Applied Therapeutics's earnings per share (EPS)?

Applied Therapeutics (APLT) reported diluted earnings per share of $-0.76 for fiscal year 2024. This represents a 46.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Applied Therapeutics's operating margin?

Applied Therapeutics (APLT) had an operating margin of -22922.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Applied Therapeutics's net profit margin?

Applied Therapeutics (APLT) had a net profit margin of -23214.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Applied Therapeutics's operating cash flow?

Applied Therapeutics (APLT) generated -$84.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Applied Therapeutics's total assets?

Applied Therapeutics (APLT) had $86.7M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Applied Therapeutics spend on research and development?

Applied Therapeutics (APLT) invested $48.7M in research and development during fiscal year 2024.

How many shares does Applied Therapeutics have outstanding?

Applied Therapeutics (APLT) had 137M shares outstanding as of fiscal year 2024.

What is Applied Therapeutics's current ratio?

Applied Therapeutics (APLT) had a current ratio of 3.06 as of fiscal year 2024, which is generally considered healthy.

What is Applied Therapeutics's debt-to-equity ratio?

Applied Therapeutics (APLT) had a debt-to-equity ratio of 0.52 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Applied Therapeutics's return on assets (ROA)?

Applied Therapeutics (APLT) had a return on assets of -121.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Applied Therapeutics's cash runway?

Based on fiscal year 2024 data, Applied Therapeutics (APLT) had $79.4M in cash against an annual operating cash burn of $84.3M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Applied Therapeutics's Piotroski F-Score?

Applied Therapeutics (APLT) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Applied Therapeutics's earnings high quality?

Applied Therapeutics (APLT) has an earnings quality ratio of 0.80x, considered low quality (accrual-driven). 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.

How financially healthy is Applied Therapeutics?

Applied Therapeutics (APLT) scores 48 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.