Galmed Pharmaceu Financials

GLMD

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

Financial Health Signals

Piotroski F-Score Neutral

4/9

Galmed Pharmaceu passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.78x

For every $1 of reported earnings, Galmed Pharmaceu generates $0.78 in operating cash flow (-$5.9M OCF vs -$7.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Galmed Pharmaceu (GLMD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$7.5M

YoY-8.8%

Galmed Pharmaceu reported -$7.5M in net income in fiscal year 2024. This represents a decrease of 8.8% from the prior year.

EPS (Diluted)

$8.08

Galmed Pharmaceu earned $8.08 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 73.1% from the prior year.

Cash & Debt

$4.7M

YoY+62.6%

5Y CAGR-21.8%

10Y CAGR-15.0%

Galmed Pharmaceu held $4.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

Galmed Pharmaceu had 2M shares outstanding in fiscal year 2024. This represents a decrease of 67.2% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$3.0M

YoY-16.5%

5Y CAGR-30.4%

10Y CAGR-7.7%

Galmed Pharmaceu invested $3.0M in research and development in fiscal year 2024. This represents a decrease of 16.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

GLMD Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	$0	$0
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	$3.0M-16.5%	$3.6M-72.5%	$13.0M-52.3%	$27.2M+4.4%	$26.1M+43.5%	$18.2M
SG&A Expenses	$3.3M-15.9%	$3.9M-15.7%	$4.7M-17.8%	$5.7M+37.1%	$4.1M-1.6%	$4.2M
Operating Income	N/A	N/A	N/A	N/A	-$30.2M-35.0%	-$22.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	$0	$0
Net Income	-$7.5M-8.8%	-$6.9M+61.3%	-$17.9M+45.0%	-$32.5M-12.8%	-$28.8M-40.6%	-$20.5M
EPS (Diluted)	$8.08	$30.00	$127.80+545.5%	$19.80	N/A	N/A

Metric	Q3'25	Q2'25	Q3'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	$1.1M+2.6%	$1.1M+43.4%	$738K+38.2%	$534K	N/A	$809K	N/A	$2.6M
SG&A Expenses	$1.0M-4.0%	$1.1M-17.4%	$1.3M+85.0%	$688K	N/A	$1.1M	N/A	$1.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	-$1.9M+24.2%	-$2.5M-30.4%	-$1.9M-71.0%	-$1.1M	N/A	-$1.6M	N/A	-$3.7M
EPS (Diluted)	$0.33-47.6%	$0.63	$2.31	$1.65	N/A	$0.95	N/A	$2.25

GLMD Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$18.5M+11.3%	$16.6M+0.4%	$16.6M-54.8%	$36.6M-30.1%	$52.4M-32.1%	$77.1M
Current Assets	$16.1M+21.8%	$13.2M-10.1%	$14.7M-59.2%	$36.1M-30.4%	$51.8M-32.2%	$76.4M
Cash & Equivalents	$4.7M+62.6%	$2.9M+41.9%	$2.0M-30.1%	$2.9M-58.5%	$6.9M-56.4%	$15.9M
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	$2.2M-21.0%	$2.8M-12.4%	$3.1M-48.6%	$6.1M-25.8%	$8.2M+12.9%	$7.3M
Current Liabilities	$2.2M-21.0%	$2.8M-11.1%	$3.1M-47.4%	$5.9M-26.6%	$8.0M+15.5%	$6.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.3M+17.6%	$13.9M+3.4%	$13.4M-56.0%	$30.5M-30.9%	$44.2M-36.8%	$69.9M
Retained Earnings	-$200.5M-3.9%	-$193.0M-3.7%	-$186.0M-10.6%	-$168.2M-23.9%	-$135.7M-26.9%	-$106.9M

Metric	Q3'25	Q2'25	Q3'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$21.6M-5.9%	$22.9M+24.0%	$18.5M+38.7%	$13.3M-19.8%	$16.6M+25.2%	$13.3M-19.8%	$16.6M-29.8%	$23.6M
Current Assets	$19.7M-6.5%	$21.1M+30.8%	$16.1M+60.0%	$10.1M-23.9%	$13.2M+35.3%	$9.8M-33.5%	$14.7M-36.3%	$23.1M
Cash & Equivalents	$3.3M-33.2%	$5.0M+6.7%	$4.7M+153.2%	$1.8M-35.8%	$2.9M+183.5%	$1.0M-50.0%	$2.0M+1.8%	$2.0M
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+2.1%	$2.4M+11.4%	$2.2M+39.8%	$1.6M-43.5%	$2.8M+1.0%	$2.7M-13.2%	$3.1M+9.6%	$2.9M
Current Liabilities	$2.5M+2.1%	$2.4M+11.4%	$2.2M+39.8%	$1.6M-43.5%	$2.8M+1.0%	$2.7M-12.0%	$3.1M+13.4%	$2.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$19.1M-6.9%	$20.5M+25.7%	$16.3M+38.5%	$11.8M-15.1%	$13.9M+31.5%	$10.6M-21.4%	$13.4M-35.2%	$20.7M
Retained Earnings	-$206.0M-0.9%	-$204.1M-1.8%	-$200.5M-2.6%	-$195.3M-1.2%	-$193.0M-1.8%	-$189.5M-1.8%	-$186.0M-4.5%	-$178.1M

GLMD Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$5.9M+4.2%	-$6.1M+66.8%	-$18.5M+43.8%	-$32.9M-25.1%	-$26.3M-76.0%	-$14.9M
Capital Expenditures	N/A	N/A	$4K-63.6%	$11K-75.0%	$44K+266.7%	$12K
Free Cash Flow	N/A	N/A	-$18.5M+43.8%	-$32.9M-25.0%	-$26.3M-76.1%	-$14.9M
Investing Cash Flow	-$1.1M-238.9%	$800K-95.4%	$17.6M+53.2%	$11.5M-30.7%	$16.5M+147.6%	$6.7M
Financing Cash Flow	$8.8M+42.1%	$6.2M+8735.7%	$70K-99.6%	$17.4M+2161.5%	$768K+437.1%	$143K
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	Q3'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	-$1.9M	N/A	-$1.9M	N/A	N/A	N/A	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	-$3K	N/A	-$2.4M	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$289K	N/A	$448K	N/A	N/A	N/A	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

GLMD 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	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
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-40.6%+0.9pp	-41.6%+66.3pp	-107.9%-19.2pp	-88.7%-33.8pp	-54.9%-28.4pp	-26.5%
Current Ratio	7.42+2.6	4.81+0.1	4.76-1.4	6.13-0.3	6.47-4.6	11.02
Debt-to-Equity	0.13-0.1	0.20-0.0	0.23+0.0	0.20+0.0	0.19+0.1	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q3'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	N/A	N/A	N/A	N/A	N/A
Return on Assets	-8.8%+2.1pp	-10.9%	N/A	-8.4%	N/A	-12.0%	N/A	-15.8%
Current Ratio	7.98-0.7	8.71+1.3	7.42+0.9	6.48+1.7	4.81+1.2	3.59-1.2	4.76-3.7	8.48
Debt-to-Equity	0.13+0.0	0.12-0.0	0.130.0	0.13-0.1	0.20-0.1	0.26+0.0	0.23+0.1	0.14
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

Is Galmed Pharmaceu profitable?

No, Galmed Pharmaceu (GLMD) reported a net income of -$7.5M in fiscal year 2024.

What is Galmed Pharmaceu's earnings per share (EPS)?

Galmed Pharmaceu (GLMD) reported diluted earnings per share of $8.08 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.

What is Galmed Pharmaceu's operating cash flow?

Galmed Pharmaceu (GLMD) generated -$5.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Galmed Pharmaceu's total assets?

Galmed Pharmaceu (GLMD) had $18.5M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Galmed Pharmaceu spend on research and development?

Galmed Pharmaceu (GLMD) invested $3.0M in research and development during fiscal year 2024.

How many shares does Galmed Pharmaceu have outstanding?

Galmed Pharmaceu (GLMD) had 2M shares outstanding as of fiscal year 2024.

What is Galmed Pharmaceu's current ratio?

Galmed Pharmaceu (GLMD) had a current ratio of 7.42 as of fiscal year 2024, which is generally considered healthy.

What is Galmed Pharmaceu's debt-to-equity ratio?

Galmed Pharmaceu (GLMD) had a debt-to-equity ratio of 0.13 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Galmed Pharmaceu's return on assets (ROA)?

Galmed Pharmaceu (GLMD) had a return on assets of -40.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Galmed Pharmaceu's cash runway?

Based on fiscal year 2024 data, Galmed Pharmaceu (GLMD) had $4.7M in cash against an annual operating cash burn of $5.9M. This gives an estimated cash runway of approximately 9 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 Galmed Pharmaceu's Piotroski F-Score?

Galmed Pharmaceu (GLMD) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Galmed Pharmaceu's earnings high quality?

Galmed Pharmaceu (GLMD) has an earnings quality ratio of 0.78x, 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.