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Adaptin Bio Financials

APTN
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Adaptin Bio (APTN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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 APTN FY2025

Balance-sheet repair rather than operating momentum is the clearest mechanic, with new capital easing an almost empty cash position.

From FY2024 to FY2025, cash and equivalents rose from $34K to $459K while total liabilities fell from $4.34M to $2.11M; yet shares outstanding expanded from 3.2M to 8.7M and equity stayed negative at -$1.49M. That combination points to a recapitalization story: liquidity improved mainly through external funding and liability reduction, not through a self-funding operating engine visible in these filings.

Near-term liquidity is better than a year ago, but FY2025 current assets of $619K still sit well below current liabilities of $2.11M, so the business remains short-term obligation heavy even after the cash rebuild.

Some figures from recent filings were inconsistent and were omitted from this summary.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 0 / 100
Financial Profile 0/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Adaptin Bio's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Liquidity
0

Adaptin Bio's current ratio of 0.29 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
N/A
EPS (Diluted)
$-0.66
YoY+31.2%

Adaptin Bio earned $-0.66 per diluted share (EPS) in fiscal year 2025. This represents an increase of 31.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$459K
YoY+1247.1%

Adaptin Bio held $459K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
9M
YoY+166.3%

Adaptin Bio had 9M shares outstanding in fiscal year 2025. This represents an increase of 166.3% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

R&D Spending
$1.8M

Adaptin Bio invested $1.8M in research and development in fiscal year 2025.

Share Buybacks
N/A
Capital Expenditures
N/A

APTN Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A N/A N/A N/A N/A N/A 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 $166K N/A $779K+128.8% $340K+447.8% $62K N/A N/A N/A
SG&A Expenses $979K N/A $897K-24.0% $1.2M+49.8% $788K N/A N/A N/A
Operating Income -$1.1M N/A -$1.7M-10.2% -$1.5M-78.8% -$850K N/A N/A N/A
Interest Expense $2K N/A N/A N/A $73K 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 -$1.1M N/A -$1.7M-10.2% -$1.5M-152.2% -$603K N/A N/A N/A
EPS (Diluted) $0.13 N/A $-0.20-11.1% $-0.18-280.0% $0.10 N/A $-0.34-36.0% $-0.25

APTN Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $706K+14.0% $619K-36.8% $979K-41.1% $1.7M-41.7% $2.9M+1092.1% $239K+74252.5% $3220.0% $322
Current Assets $706K+14.0% $619K-36.8% $979K-41.1% $1.7M-41.7% $2.9M+6167.2% $46K+14042.5% $3220.0% $322
Cash & Equivalents $301K-34.4% $459K-20.7% $579K-57.2% $1.4M-43.1% $2.4M+6865.6% $34K N/A N/A
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 $2.5M+17.7% $2.1M+13.3% $1.9M+56.6% $1.2M+7.2% $1.1M-74.5% $4.3M+33.8% $3.2M+51.9% $2.1M
Current Liabilities $2.5M+17.7% $2.1M+13.3% $1.9M+56.6% $1.2M+7.2% $1.1M-74.5% $4.3M+1741.6% $236K+14.4% $206K
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$1.8M-19.2% -$1.5M-69.0% -$881K-285.7% $474K-72.8% $1.7M+142.6% -$4.1M-26.4% -$3.2M-51.9% -$2.1M
Retained Earnings -$10.4M-12.3% -$9.3M-17.3% -$7.9M-26.8% -$6.2M-32.2% -$4.7M-14.6% -$4.1M-1648.9% -$236K-14.4% -$206K

APTN Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$596K+15.2% -$703K+9.0% -$772K+24.5% -$1.0M+55.1% -$2.3M-2123.8% $113K N/A N/A
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 N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow $438K-24.8% $583K $0 $0-100.0% $4.6M+2483.0% -$194K N/A N/A
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

APTN Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A -320.6%-286.0pp -34.6% N/A N/A N/A
Return on Assets -162.3% N/A -171.1%-79.6pp -91.5%-70.3pp -21.1% N/A N/A N/A
Current Ratio 0.280.0 0.29-0.2 0.53-0.9 1.40-1.2 2.57+2.6 0.010.0 0.000.0 0.00
Debt-to-Equity -1.40+0.0 -1.42+0.7 -2.11-4.6 2.50+1.9 0.64+1.7 -1.06-0.1 -1.000.0 -1.00
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$1.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.29), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

Adaptin Bio (APTN) reported diluted earnings per share of $-0.66 for fiscal year 2025. This represents a 31.2% 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.

Adaptin Bio (APTN) had $619K in total assets as of fiscal year 2025, including both current and long-term assets.

Adaptin Bio (APTN) invested $1.8M in research and development during fiscal year 2025.

Adaptin Bio (APTN) had 9M shares outstanding as of fiscal year 2025.

Adaptin Bio (APTN) had a current ratio of 0.29 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Adaptin Bio (APTN) had a debt-to-equity ratio of -1.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Adaptin Bio (APTN) has negative shareholder equity of -$1.5M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Adaptin Bio (APTN) scores 0 out of 100 on our Financial Profile, indicating weak 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.

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