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

Applied Therapeutics (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 Financials

APLT

FY2024 annual

Revenue $455K -95.4% YoY

Net Income -$105.6M +11.8% YoY

EPS (Diluted) -$0.76 YoY not available

Free Cash Flow Not reported for FY2024

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

Applied Therapeutics (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 2026-08-30

Applied Therapeutics remains a development-stage business whose operations consume cash while financing, rather than sales, funds the balance sheet.

FY2024 revenue was only $455K against $48.7M of R&D, making the reported losses a development-stage cost structure rather than a conventional margin squeeze.

Operating cash flow worsened from -$55.2M in FY2023 to -$84.3M in FY2024, so lower R&D did not translate into lower cash consumption. The expense mix points to SG&A as the pressure point: it rose to $56.0M even as R&D fell.

The current ratio more than quadrupled to 3.1x while FY2024 financing supplied $113.8M; liquidity therefore improved through financing flows rather than operating cash generation. The reported liquidity comparison was 11.3 months of the latest annual operating outflow, a snapshot that does not establish operating self-sufficiency.

Financial Health Signals

Financial health score not available

Applied Therapeutics 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 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 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 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

$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.

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

Applied Therapeutics earned -$0.76 per diluted share (EPS) in fiscal year 2024.

EBITDA

Not reported for fiscal year 2024.

Cash & Balance Sheet

Cash & Debt

$79.4M

YoY+59.1%

5Y CAGR+33.3%

Applied Therapeutics held $79.4M in cash as of fiscal year 2024; long-term debt is not reported for that period.

Shares Outstanding

142M

Applied Therapeutics had 142M shares outstanding in fiscal year 2024.

Free Cash Flow

Not reported for fiscal year 2024.

Dividends Per Share

Not reported for fiscal year 2024.

Margins & Returns

Return on Equity

-185.3%

Applied Therapeutics's ROE was -185.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

Gross Margin

Not reported for fiscal year 2024.

Operating Margin

Not shown for fiscal year 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

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

Not reported for fiscal year 2024.

Capital Expenditures

Not reported for fiscal year 2024.

APLT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

APLT quarterly income statement

Metric	TTM	FY24	FY23	FY22	FY21	FY20	FY19	FY18
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
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 (Diluted)	-$0.10	-$0.76	-$1.42	-$2.18	-$4.12+3.7%	-$4.28	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$1.0M	$0	$0	N/A	$122K-15.3%	$144K-24.2%	$190K	N/A
R&D Expenses	$9.6M-3.2%	$9.9M+26.6%	$7.8M	N/A	$14.8M+48.2%	$10.0M-18.1%	$12.2M	N/A
SG&A Expenses	$8.2M-38.1%	$13.2M-25.5%	$17.7M	N/A	$15.0M+42.1%	$10.6M+16.7%	$9.1M	N/A
Operating Income	-$16.8M+27.4%	-$23.1M+9.5%	-$25.5M	N/A	-$29.7M-45.5%	-$20.4M+3.1%	-$21.1M	N/A
Net Income	-$19.0M+11.0%	-$21.3M+2.3%	-$21.8M	N/A	-$68.6M-2466.8%	$2.9M+103.5%	-$83.9M	N/A
EPS (Diluted)	-$0.13+13.3%	-$0.150.0%	-$0.15-145.5%	$0.33+168.8%	-$0.48-269.2%	-$0.13+80.6%	-$0.67-103.0%	-$0.33

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

APLT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

APLT quarterly balance sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
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
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
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	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$34.4M-7.9%	$37.3M-34.4%	$56.9M-34.4%	$86.7M-18.7%	$106.6M-16.6%	$127.8M-15.5%	$151.2M+175.8%	$54.8M
Current Assets	$31.7M-8.3%	$34.5M-36.1%	$54.0M-35.5%	$83.6M-20.0%	$104.6M-18.0%	$127.6M-15.5%	$150.9M+177.5%	$54.4M
Cash & Equivalents	$11.9M-60.7%	$30.4M-40.1%	$50.8M-36.1%	$79.4M-19.7%	$98.9M-19.1%	$122.2M-16.6%	$146.5M+193.6%	$49.9M
Total Liabilities	$34.9M+75.5%	$19.9M-1.7%	$20.2M-31.8%	$29.7M-70.5%	$100.7M+81.8%	$55.4M-34.0%	$83.9M+16.6%	$72.0M
Current Liabilities	$32.9M+85.4%	$17.7M-1.2%	$18.0M-34.2%	$27.3M-72.4%	$99.0M+78.8%	$55.4M-34.0%	$83.9M+17.9%	$71.2M
Total Equity	-$561K-103.2%	$17.4M-52.4%	$36.7M-35.7%	$57.0M+867.5%	$5.9M-91.9%	$72.4M+7.6%	$67.3M+492.5%	-$17.1M
Retained Earnings	-$636.4M-3.1%	-$617.4M-3.6%	-$596.0M-3.8%	-$574.2M+7.1%	-$618.2M-12.5%	-$549.6M+0.5%	-$552.5M-17.9%	-$468.6M

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

APLT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

APLT quarterly cash flow statement

Metric	TTM	FY24	FY23	FY22	FY21	FY20	FY19	FY18
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
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	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$18.4M+9.5%	-$20.3M+29.0%	-$28.6M	N/A	-$23.3M-3.3%	-$22.6M-19.5%	-$18.9M-11.2%	-$17.0M
Investing Cash Flow	$0	$0	$0	N/A	$0	N/A	N/A	$0
Financing Cash Flow	-$75K	$0	$0	N/A	$0+100.0%	-$1.7M-101.5%	$115.5M+292.2%	$29.4M

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

APLT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

APLT quarterly financial ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19	FY18
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

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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%-62.8pp	-59.5%	N/A	-1164.1%-1168.1pp	4.0%+128.7pp	-124.7%	N/A
Return on Assets	-55.3%+1.9pp	-57.1%-18.8pp	-38.4%	N/A	-64.4%-66.6pp	2.3%+57.8pp	-55.5%	N/A
Current Ratio	0.96-1.0x	1.94-1.1x	3.00-0.1x	3.06+2.0x	1.06-1.2x	2.30+0.5x	1.80+1.0x	0.76
Debt-to-Equity	N/A	1.14+0.6x	0.550.0x	0.52-16.6x	17.09+16.3x	0.77-0.5x	1.25	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.

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Where Applied Therapeutics Ranks

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.

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

Applied Therapeutics (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's operating cash flow?

Applied Therapeutics (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'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 142M 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.

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

At the end of fiscal year 2024, Applied Therapeutics (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's Altman Z-Score?

Applied Therapeutics (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's Piotroski F-Score?

Applied Therapeutics (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's earnings high quality?

Applied Therapeutics (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.