Baird Medical Investment Holdings Warrant (BDMDW) Financials
Newest figures come from the 20-F/A for FY2025, filed Jul 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BDMDW SEC filings page.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) reported $22.5M in revenue for fiscal year 2025, down 39.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 (20-F and 6-K reports).
FY2025 shows a spending shock: revenue fell sharply while development and overhead costs turned prior operating earnings into a loss.
The FY2025 shock was expense-led rather than gross-margin-led: revenue fell39.2% , while gross margin slipped far less sharply. R&D and SG&A together exceeded gross profit, showing that development and overhead spending outpaced the revenue base.
Reported earnings did not convert into cash: FY2024 combined net income of
The balance sheet became more liability-heavy as profitability weakened: FY2025 liabilities reached
Financial Health Signals
We do not publish a peer-relative financial health score for Baird Medical Investment Holdings Ltd Warrant, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Baird Medical Investment Holdings Ltd Warrant passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Baird Medical Investment Holdings Ltd Warrant reported a net loss of $27.3M while operations used $1.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Baird Medical Investment Holdings Ltd Warrant reported an operating loss of $25.6M against $354K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Baird Medical Investment Holdings Ltd Warrant generated $22.5M in revenue in fiscal year 2025. This represents a decrease of 39.2% from the prior year.
Baird Medical Investment Holdings Ltd Warrant's EBITDA was -$24.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 249.1% from the prior year.
Baird Medical Investment Holdings Ltd Warrant reported a net loss of $27.3M in fiscal year 2025. This represents a decrease of 319.0% from the prior year.
Baird Medical Investment Holdings Ltd Warrant earned -$0.98 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 271.9% from the prior year.
Cash & Balance Sheet
Baird Medical Investment Holdings Ltd Warrant recorded an outflow of $1.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Baird Medical Investment Holdings Ltd Warrant held $178K in cash against $6.1M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Baird Medical Investment Holdings Ltd Warrant's gross margin was 83.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.4 percentage points from the prior year.
Baird Medical Investment Holdings Ltd Warrant's ROE was -87.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 118.4 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Baird Medical Investment Holdings Ltd Warrant invested $20.1M in research and development in fiscal year 2025. This represents an increase of 226.0% from the prior year.
Baird Medical Investment Holdings Ltd Warrant invested $42K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 98.5% from the prior year.
Not reported for fiscal year 2025.
BDMDW 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F |
|---|---|---|---|---|
| Revenue | $22.5M-39.2% | $37.0M+17.7% | $31.5M-10.4% | $35.1M |
| Cost of Revenue | $3.7M-16.7% | $4.4M+3.7% | $4.2M-40.1% | $7.1M |
| Gross Profit | $18.9M-42.2% | $32.7M+19.9% | $27.2M-2.9% | $28.0M |
| R&D Expenses | $20.1M+226.0% | $6.2M+44.4% | $4.3M+10.8% | $3.9M |
| SG&A Expenses | $24.4M+118.4% | $11.2M+0.6% | $11.1M+5.2% | $10.5M |
| Operating Income | -$25.6M-267.4% | $15.3M+29.1% | $11.9M-13.0% | $13.6M |
| EBITDA | -$24.5M-249.1% | $16.5M+27.8% | $12.9M-11.5% | $14.5M |
| Interest Expense | $354K-8.8% | $389K+70.5% | $228K-6.5% | $244K |
| Income Tax | $1.2M-21.7% | $1.5M-12.5% | $1.7M-2.6% | $1.7M |
| Net Income | -$27.3M-319.0% | $12.5M+18.1% | $10.5M-16.1% | $12.6M |
| EPS (Basic) | -$0.98-271.9% | $0.57+11.8% | $0.51+4.1% | $0.49 |
| EPS (Diluted) | -$0.98-271.9% | $0.57+11.8% | $0.51+4.1% | $0.49 |
| Diluted Shares (Avg) | 28M+27.3% | 22M+6.0% | 21M-19.4% | 26M |
BDMDW 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F |
|---|---|---|---|---|
| Total Assets | $69.7M-10.6% | $78.0M+37.5% | $56.7M | N/A |
| Current Assets | $55.0M-10.5% | $61.4M+53.2% | $40.1M | N/A |
| Cash & Equivalents | $178K-94.0% | $3.0M+96.6% | $1.5M-11.7% | $1.7M |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0 |
| Inventory | $1.1M-16.3% | $1.3M+13.5% | $1.1M | N/A |
| Accounts Receivable | $42.5M-8.7% | $46.6M+49.8% | $31.1M | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0 |
| Goodwill | $60K+4.4% | $58K-2.7% | $59K | N/A |
| Total Liabilities | $38.5M+0.7% | $38.2M+81.9% | $21.0M | N/A |
| Current Liabilities | $32.4M-6.5% | $34.6M+82.5% | $19.0M | N/A |
| Non-Current Liabilities | $6.1M+70.8% | $3.6M+76.7% | $2.0M | N/A |
| Long-Term Debt | $6.1M+76.8% | $3.4M+113.3% | $1.6M | N/A |
| Total Equity | $31.4M-20.9% | $39.7M+10.9% | $35.8M+38.7% | $25.8M |
| Retained Earnings | -$515K-101.9% | $26.8M+85.9% | $14.4M | N/A |
BDMDW 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F |
|---|---|---|---|---|
| Operating Cash Flow | -$1.3Mn/m | -$6.3Mn/m | -$1.0M-309.9% | $486K |
| Depreciation & Amortization | $1.1M-3.1% | $1.1M+12.3% | $1.0M+10.7% | $916K |
| Stock-Based Compensation | $17.5Mn/m | $0n/m | $0 | N/A |
| Capital Expenditures | $42K-98.5% | $2.9M+8.2% | $2.6M-55.4% | $5.9M |
| Free Cash Flow | -$1.4Mn/m | -$9.2Mn/m | -$3.7Mn/m | -$5.4M |
| Investing Cash Flow | -$42Kn/m | -$2.5Mn/m | -$2.7Mn/m | -$5.9M |
| Financing Cash Flow | -$1.4M-113.5% | $10.3M+197.4% | $3.5M-21.2% | $4.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BDMDW 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 | FY2520-F/A | FY2420-F/A | FY2320-F/A | FY2220-F |
|---|---|---|---|---|
| Gross Margin | 83.8%-4.4pp | 88.2%+1.6pp | 86.6%+6.7pp | 79.9% |
| Operating Margin | -113.7% | 41.3%+3.6pp | 37.7%-1.1pp | 38.9% |
| Net Margin | -121.0% | 33.6%+0.1pp | 33.5%-2.3pp | 35.8% |
| Return on Equity | -87.0%-118.4pp | 31.4%+1.9pp | 29.5%-19.3pp | 48.8% |
| Return on Assets | -39.1%-55.1pp | 16.0%-2.6pp | 18.6% | N/A |
| Current Ratio | 1.70-0.1x | 1.77-0.3x | 2.11 | N/A |
| Debt-to-Equity | 0.19+0.1x | 0.090.0x | 0.05 | N/A |
| Liabilities-to-Equity | 1.23+0.3x | 0.96+0.4x | 0.59 | N/A |
| Asset Turnover | 0.32-0.2x | 0.48-0.1x | 0.55 | N/A |
| FCF Margin | -6.2%+18.6pp | -24.8%-13.1pp | -11.6%+3.8pp | -15.4% |
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.
Where Baird Medical Investment Holdings Ltd Warrant Ranks
Frequently Asked Questions
Baird Medical Investment Holdings Ltd Warrant (BDMDW) reported $22.5M in total revenue for fiscal year 2025. This represents a -39.2% 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.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) revenue declined by 39.2% year-over-year, from $37.0M to $22.5M in fiscal year 2025.
No, Baird Medical Investment Holdings Ltd Warrant (BDMDW) reported a net loss of $27.3M in fiscal year 2025.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had EBITDA of -$24.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Baird Medical Investment Holdings Ltd Warrant (BDMDW) had $178K in cash and equivalents against $6.1M in long-term debt.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had a gross margin of 83.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) has a return on equity of -87.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) recorded an outflow of $1.4M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) recorded an outflow of $1.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had $69.7M in total assets as of fiscal year 2025, including both current and long-term assets.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) invested $42K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) invested $20.1M in research and development during fiscal year 2025.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had a debt-to-equity ratio of 0.19 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had a liabilities-to-equity ratio of 1.23 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) had a return on assets of -39.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) has a Piotroski F-Score of 1 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) reported a net loss of $27.3M while operations used $1.3M 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.
Baird Medical Investment Holdings Ltd Warrant (BDMDW) reported an operating loss of $25.6M against $354K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.