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

Applied Therapeutics, Inc. (APLT) reported diluted earnings per share of -$0.76 for fiscal year 2024. 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.

Applied Therapeutics, Inc. (APLT) Financials

APLT

FY2024 annual

Revenue $455K -95.4% YoY

Net Income -$105.6M +11.8% YoY

EPS (Diluted) -$0.76 YoY not available

Operating Cash Flow -$84.3M -52.8% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2025, ended Sep 30, 2025 Reported Nov 13, 2025 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2025, filed Nov 13, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APLT SEC filings page.

Applied Therapeutics, Inc. (APLT) reported $455K in revenue for fiscal year 2024, down 95.4% from the prior fiscal year. This page shows its 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).

Rhea AI APLT FY2024 2026-10-03

The business remains development-stage: modest revenue is overwhelmed by research spending and operating cash needs financed externally.

In FY2024, the operating loss of $104.3M was close to the $84.3M operating cash outflow, so reported losses are translating into substantial cash consumption rather than being mainly accounting charges. This connects cash conversion directly to ongoing funding needs.

R&D was $48.7M in FY2024, vastly larger than the $455K of revenue. That cost structure identifies a development-stage operation whose spending base is not yet supported by commercial receipts. The gap explains how a small revenue line can coexist with a large operating deficit without implying mature-scale economics.

The external financing inflow was $113.8M in FY2024 while operations used $84.3M, indicating financing was the reported offset to operating cash use. The short-term liquidity ratio improved from 0.8x in FY2023 to 3.1x in FY2024, showing materially stronger coverage of near-term obligations than the prior year.

Financial Health Signals

Financial health score not available

Applied Therapeutics, 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.

Altman Z-Score Distress

-12.16

Applied Therapeutics, Inc. scores -12.16, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($14.9M) relative to total liabilities ($29.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

Applied Therapeutics, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Applied Therapeutics, Inc. reported a net loss of $105.6M while operations used $84.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.0M

YoY+719.7%

Applied Therapeutics, Inc. generated $1.0M in revenue in Q3 2025. This represents an increase of 719.7% from the same quarter a year earlier.

Net Income

-$19.0M

YoY+72.3%

QoQ+11.0%

Applied Therapeutics, Inc. reported -$19.0M in net income in Q3 2025. This represents an increase of 72.3% from the same quarter a year earlier. Against the prior quarter it is up 11.0%.

EPS (Diluted)

-$0.13

YoY+72.9%

QoQ+13.3%

Applied Therapeutics, Inc. earned -$0.13 per diluted share (EPS) in Q3 2025. This represents an increase of 72.9% from the same quarter a year earlier. Against the prior quarter it is up 13.3%.

EBITDA

Not reported for Q3 2025.

Cash & Balance Sheet

Cash & Debt

$11.9M

YoY-87.9%

QoQ-60.7%

5Y CAGR-24.5%

Applied Therapeutics, Inc. held $11.9M in cash as of Q3 2025; long-term debt is not reported for that period.

Shares Outstanding

144M

YoY+24.0%

QoQ+0.2%

5Y CAGR+45.0%

Applied Therapeutics, Inc. had 144M shares outstanding in Q3 2025. This represents an increase of 24.0% from the same quarter a year earlier. Against the prior quarter it is up 0.2%.

Free Cash Flow

Not reported for Q3 2025.

Dividends Per Share

Not reported for Q3 2025.

Margins & Returns

Gross Margin

Not reported for Q3 2025.

Operating Margin

Not shown for Q3 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q3 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for Q3 2025.

Capital Allocation

R&D Spending

$9.6M

YoY-35.3%

QoQ-3.2%

Applied Therapeutics, Inc. invested $9.6M in research and development in Q3 2025. This represents a decrease of 35.3% from the same quarter a year earlier. Against the prior quarter it is down 3.2%.

Share Buybacks

Not reported for Q3 2025.

Capital Expenditures

Not reported for Q3 2025.

APLT 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.

APLT quarterly income statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Revenue	N/A	$455K-95.4%	$10.0M	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$48.7M-9.6%	$53.9M-3.1%	$55.6M-11.1%	$62.6M+1.3%	$61.8M+91.0%	$32.4M+182.0%	$11.5M
SG&A Expenses	N/A	$56.0M+171.6%	$20.6M-24.5%	$27.3M-36.5%	$43.0M+31.7%	$32.7M+147.0%	$13.2M+546.4%	$2.0M
Operating Income	N/A	-$104.3M-61.6%	-$64.5M+22.2%	-$83.0M+21.5%	-$105.6M-11.8%	-$94.5M-107.2%	-$45.6M-237.2%	-$13.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.6M
Net Income	N/A	-$105.6M+11.8%	-$119.8M-45.2%	-$82.5M+21.9%	-$105.6M-12.4%	-$94.0M-106.4%	-$45.5M-175.5%	-$16.5M
EPS (Basic)	N/A	-$0.76+46.5%	-$1.42+34.9%	-$2.18+47.1%	-$4.12+3.7%	-$4.28	N/A	N/A
EPS (Diluted)	-$0.10	-$0.76	-$1.42	-$2.18	-$4.12+3.7%	-$4.28	N/A	N/A
Diluted Shares (Avg)	N/A	140M	84M	38M	26M+16.5%	22M	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Revenue	$1.0M+719.7%	$0-100.0%	$0-100.0%	N/A	$122K	$144K	$190K-98.2%	N/A
R&D Expenses	$9.6M-35.3%	$9.9M-0.8%	$7.8M-35.9%	N/A	$14.8M+37.5%	$10.0M-15.8%	$12.2M-23.3%	N/A
SG&A Expenses	$8.2M-45.8%	$13.2M+24.5%	$17.7M+95.1%	N/A	$15.0M+219.3%	$10.6M+99.9%	$9.1M+62.4%	N/A
Operating Income	-$16.8M+43.7%	-$23.1M-13.0%	-$25.5M-21.0%	N/A	-$29.7M-92.0%	-$20.4M-19.0%	-$21.1M-94.3%	N/A
Net Income	-$19.0M+72.3%	-$21.3M-836.0%	-$21.8M+74.0%	N/A	-$68.6M-61.9%	$2.9M+109.8%	-$83.9M-728.0%	N/A
EPS (Basic)	-$0.13+72.9%	-$0.15-850.0%	-$0.15+77.6%	$0.33+200.0%	-$0.48-2.1%	$0.02+105.4%	-$0.67-272.2%	-$0.33-106.3%
EPS (Diluted)	-$0.13+72.9%	-$0.15-15.4%	-$0.15+77.6%	$0.33+200.0%	-$0.48	-$0.13	-$0.67	-$0.33
Diluted Shares (Avg)	146M+0.8%	145M-4.8%	145M+15.5%	N/A	144M	152M	125M	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA, Interest Expense, Income Tax.

APLT Balance Sheet

APLT quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Total Assets	$86.7M+58.1%	$54.8M+42.9%	$38.4M-57.3%	$89.9M-14.0%	$104.5M+116.0%	$48.4M+139.0%	$20.2M
Current Assets	$83.6M+53.8%	$54.4M+45.8%	$37.3M-57.8%	$88.4M-13.8%	$102.6M+122.3%	$46.2M+128.0%	$20.2M
Cash & Equivalents	$79.4M+59.1%	$49.9M+199.6%	$16.7M-69.1%	$53.9M-6.2%	$57.5M+204.9%	$18.9M+0.5%	$18.7M
Short-Term Investments	$0	$0-100.0%	$13.9M-48.3%	$26.9M-31.6%	$39.4M+96.8%	$20.0M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$29.7M-58.8%	$72.0M+109.8%	$34.3M+25.4%	$27.4M+21.2%	$22.6M+43.0%	$15.8M-60.4%	$39.8M
Current Liabilities	$27.3M-61.7%	$71.2M+113.0%	$33.4M+26.3%	$26.5M+24.6%	$21.2M+50.6%	$14.1M+218.4%	$4.4M
Non-Current Liabilities	$2.4M+199.7%	$797K-9.2%	$878K-1.5%	$891K-33.1%	$1.3M-20.9%	$1.7M-95.2%	$35.4M
Total Equity	$57.0M+432.5%	-$17.1M-522.2%	$4.1M-93.5%	$62.5M-23.7%	$81.9M+151.3%	$32.6M+266.4%	-$19.6M
Retained Earnings	-$574.2M-22.5%	-$468.6M-34.3%	-$348.8M-31.0%	-$266.3M-65.7%	-$160.7M-140.7%	-$66.8M-214.1%	-$21.3M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Total Assets	$34.4M-67.7%	$37.3M-70.8%	$56.9M-62.4%	$86.7M+58.1%	$106.6M+135.8%	$127.8M+192.8%	$151.2M+404.0%	$54.8M+42.9%
Current Assets	$31.7M-69.7%	$34.5M-72.9%	$54.0M-64.2%	$83.6M+53.8%	$104.6M+135.1%	$127.6M+197.9%	$150.9M+419.2%	$54.4M+45.8%
Cash & Equivalents	$11.9M-87.9%	$30.4M-75.1%	$50.8M-65.3%	$79.4M+59.1%	$98.9M+163.9%	$122.2M+243.1%	$146.5M+539.2%	$49.9M+199.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$34.9M-65.3%	$19.9M-64.1%	$20.2M-75.9%	$29.7M-58.8%	$100.7M+79.0%	$55.4M+15.4%	$83.9M+146.3%	$72.0M+109.8%
Current Liabilities	$32.9M-66.8%	$17.7M-67.9%	$18.0M-78.6%	$27.3M-61.7%	$99.0M+78.3%	$55.4M+17.3%	$83.9M+152.3%	$71.2M+113.0%
Non-Current Liabilities	$2.0M+19.1%	$2.2M+7083.3%	$2.3M+6397.1%	$2.4M+199.7%	$1.7M+132.2%	$30K-96.2%	$35K-95.8%	$797K-9.2%
Total Equity	-$561K-109.5%	$17.4M-75.9%	$36.7M-45.5%	$57.0M+432.5%	$5.9M+153.4%	$72.4M+1770.3%	$67.3M+1752.6%	-$17.1M-522.2%
Retained Earnings	-$636.4M-2.9%	-$617.4M-12.3%	-$596.0M-7.9%	-$574.2M-22.5%	-$618.2M-43.5%	-$549.6M-41.5%	-$552.5M-53.9%	-$468.6M-34.3%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

APLT Cash Flow Statement

APLT quarterly cash flow statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Operating Cash Flow	N/A	-$84.3M-52.8%	-$55.2M+29.3%	-$78.1M+13.9%	-$90.7M-16.0%	-$78.2M-115.4%	-$36.3M-224.7%	-$11.2M
Stock-Based Compensation	N/A	$13.5M+83.0%	$7.4M-23.4%	$9.6M-14.1%	$11.2M+39.3%	$8.0M+30.1%	$6.2M+2168.8%	$272K
Investing Cash Flow	N/A	N/A	$13.9M+5.3%	$13.2M+5.9%	$12.4M+163.9%	-$19.5M+2.7%	-$20.0M	N/A
Financing Cash Flow	N/A	$113.8M+52.7%	$74.5M+169.2%	$27.7M-62.9%	$74.7M-45.2%	$136.3M+141.6%	$56.4M+111.7%	$26.7M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Operating Cash Flow	-$18.4M+21.1%	-$20.3M+10.0%	-$28.6M-51.4%	N/A	-$23.3M-58.4%	-$22.6M-37.3%	-$18.9M-170.5%	-$17.0M-7.0%
Stock-Based Compensation	$1.1M-45.4%	$2.1M+11.1%	$1.5M-37.5%	N/A	$2.1M+13.9%	$1.9M+2.6%	$2.4M+15.8%	N/A
Investing Cash Flow	$0	$0	$0	N/A	$0	N/A	N/A	$0+100.0%
Financing Cash Flow	-$75K	$0+100.0%	$0-100.0%	N/A	$0-100.0%	-$1.7M-105.8%	$115.5M+18668.6%	$29.4M+3256.1%

Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

APLT 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.

APLT quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Operating Margin	-22922.9%	-645.8%	N/A	N/A	N/A	N/A	N/A
Net Margin	-23214.1%	-1198.5%	N/A	N/A	N/A	N/A	N/A
Return on Equity	-185.3%	N/A	-2031.7%-1862.9pp	-168.8%-54.2pp	-114.7%+24.9pp	-139.6%	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%-12.5pp	-81.6%
Current Ratio	3.06+2.3x	0.76-0.4x	1.12-2.2x	3.34-1.5x	4.83+1.6x	3.27-1.3x	4.57
Debt-to-Equity	0.52	N/A	8.45+8.0x	0.44+0.2x	0.28-0.2x	0.48	N/A
Asset Turnover	0.01-0.2x	0.18	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Operating Margin	-1675.8%	N/A	N/A	N/A	-24379.5%	-14194.4%	-11101.6%	N/A
Net Margin	-1899.0%	N/A	N/A	N/A	-56222.1%	2012.5%	-44177.9%	N/A
Return on Equity	N/A	-122.3%-126.3pp	-59.5%+65.2pp	N/A	-1164.1%	4.0%	-124.7%	N/A
Return on Assets	-55.3%+9.1pp	-57.1%-59.4pp	-38.4%+17.2pp	N/A	-64.4%+29.4pp	2.3%+70.0pp	-55.5%-21.7pp	N/A
Current Ratio	0.96-0.1x	1.94-0.4x	3.00+1.2x	3.06+2.3x	1.06+0.3x	2.30+1.4x	1.80+0.9x	0.76-0.4x
Debt-to-Equity	N/A	1.14+0.4x	0.55-0.7x	0.52	17.09	0.77	1.25	N/A
Asset Turnover	0.030.0x	0.000.0x	0.000.0x	N/A	0.00	0.00	0.00-0.4x	N/A

Not reported in any period shown, so not listed: Gross Margin, FCF Margin.

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.

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 Therapeutics, Inc. APLT	FY2024	$455K	-$105.6M	N/A	$14.9M	—
Adlai Nortye Group Ltd. ANL	FY2025	$5.0M	-$109.2M	N/A	$710.3M	32/100
MiNK Therapeutics, Inc. INKT	FY2025	N/A	-$12.5M	N/A	$48.0M	—
Adverum Biotechnologies, Inc. ADVM	FY2024	$1.0M	-$130.9M	N/A	$96.3M	54/100
ABVC BioPharma, Inc. ABVC	FY2025	$296K	-$7.9M	N/A	$24.5M	—
PMV Pharmaceuticals, Inc PMVP	FY2025	N/A	-$77.7M	N/A	$64.7M	—

Where Applied Therapeutics, Inc. Ranks

Frequently Asked Questions

What is Applied Therapeutics, Inc.'s annual revenue?

Applied Therapeutics, Inc. (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, Inc.'s revenue growing?

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

Is Applied Therapeutics, Inc. profitable?

No, Applied Therapeutics, Inc. (APLT) reported a net income of -$105.6M in fiscal year 2024.

What is Applied Therapeutics, Inc.'s return on equity (ROE)?

Applied Therapeutics, Inc. (APLT) has a return on equity of -185.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Applied Therapeutics, Inc.'s operating cash flow?

Applied Therapeutics, Inc. (APLT) recorded an outflow of $84.3M in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are Applied Therapeutics, Inc.'s total assets?

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

How much does Applied Therapeutics, Inc. spend on research and development?

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

How many shares does Applied Therapeutics, Inc. have outstanding?

Applied Therapeutics, Inc. (APLT) had 142M shares outstanding as of fiscal year 2024.

What is Applied Therapeutics, Inc.'s current ratio?

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

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

Applied Therapeutics, Inc. (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, Inc.'s return on assets (ROA)?

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

How does Applied Therapeutics, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2024, Applied Therapeutics, Inc. (APLT) held $79.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $84.3M over that year. Dividing the one by the other, the reported balance equals about 11 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 Therapeutics, Inc.'s Altman Z-Score?

Applied Therapeutics, Inc. (APLT) has an Altman Z-Score of -12.16, placing it in the Distress Zone (elevated 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 Therapeutics, Inc.'s Piotroski F-Score?

Applied Therapeutics, Inc. (APLT) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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 Therapeutics, Inc.'s earnings high quality?

Applied Therapeutics, Inc. (APLT) reported a net loss of $105.6M while operations used $84.3M 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.