Palatin Tech Financials
Financial Health Signals
Palatin Tech passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Palatin Tech generates $1.23 in operating cash flow (-$21.3M OCF vs -$17.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Palatin Tech earns $-1162.1 in operating income for every $1 of interest expense (-$17.5M vs $15K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Palatin Tech (PTN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
Palatin Tech generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Palatin Tech's EBITDA was -$17.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.4% from the prior year.
Palatin Tech generated -$21.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 32.4% from the prior year.
Palatin Tech reported -$17.3M in net income in fiscal year 2025. This represents an increase of 41.8% from the prior year.
Palatin Tech earned $-32.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 68.2% from the prior year.
Palatin Tech held $2.6M in cash against $0 in long-term debt as of fiscal year 2025.
Palatin Tech had 929,597 shares outstanding in fiscal year 2025. This represents an increase of 159.3% from the prior year.
Palatin Tech invested $14.9M in research and development in fiscal year 2025. This represents a decrease of 33.5% from the prior year.
Palatin Tech invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
PTN Income Statement
| Metric | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.8M | $0 | N/A | $0 | $0-100.0% | $2.0M-3.4% | $2.1M+76.1% | $1.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | $0-100.0% | $98K | $0-100.0% | $129K |
| Gross Profit | N/A | N/A | N/A | N/A | $0-100.0% | $1.9M-8.0% | $2.1M+97.5% | $1.1M |
| R&D Expenses | $2.5M-32.7% | $3.8M+9.5% | $3.4M-40.3% | $5.7M-19.8% | $7.2M+28.9% | $5.6M+10.8% | $5.0M+3.8% | $4.8M |
| SG&A Expenses | $1.7M+12.7% | $1.5M-12.4% | $1.7M-16.8% | $2.0M-0.6% | $2.0M-32.9% | $3.0M-5.2% | $3.2M-9.5% | $3.5M |
| Operating Income | $4.7M+196.8% | -$4.8M-84.3% | -$2.6M+66.4% | -$7.8M+15.8% | -$9.2M-885.8% | $1.2M+119.2% | -$6.1M+16.3% | -$7.3M |
| Interest Expense | $2K+11.5% | $2K-52.8% | $4K-36.0% | $6K+373.7% | $1K-21.9% | $2K-85.3% | $11K+216.9% | $3K |
| Income Tax | N/A | N/A | N/A | N/A | $0 | $0 | N/A | $0 |
| Net Income | $4.7M+197.2% | -$4.8M-97.0% | -$2.4M+68.8% | -$7.8M+7.3% | -$8.4M-7.5% | -$7.8M-50.7% | -$5.2M+39.9% | -$8.7M |
| EPS (Diluted) | $4.26 | $-0.18 | N/A | $-19.71-3618.9% | $-0.53 | N/A | N/A | N/A |
PTN Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.6M+131.0% | $3.7M-13.5% | $4.3M+26.2% | $3.4M-70.1% | $11.4M-15.9% | $13.6M+20.5% | $11.2M-56.1% | $25.6M |
| Current Assets | $8.4M+158.9% | $3.2M-11.9% | $3.7M+40.5% | $2.6M-74.6% | $10.3M-16.1% | $12.2M+24.9% | $9.8M-59.5% | $24.2M |
| Cash & Equivalents | $1.3M-49.5% | $2.5M-26.2% | $3.4M+43.3% | $2.4M-88.9% | $21.5M+126.5% | $9.5M+71.7% | $5.5M-71.9% | $19.6M |
| Inventory | N/A | N/A | $0 | N/A | $0 | $0-100.0% | $1.6M+153.7% | $630K |
| Accounts Receivable | $6.9M | N/A | $0 | N/A | $0-100.0% | $2.3M+74.0% | $1.3M-20.6% | $1.7M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.2M-18.8% | $10.1M-5.4% | $10.7M-3.7% | $11.1M+13.0% | $9.8M-59.9% | $24.5M+51.9% | $16.1M+0.7% | $16.0M |
| Current Liabilities | $8.2M-18.2% | $10.0M+5.1% | $9.6M-3.1% | $9.9M+15.6% | $8.5M-23.8% | $11.2M-17.7% | $13.6M+14.8% | $11.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $396K+106.2% | -$6.4M-0.1% | -$6.4M+17.0% | -$7.7M-586.8% | $1.6M+113.9% | -$11.4M-80.1% | -$6.3M-196.0% | $6.6M |
| Retained Earnings | -$454.4M+0.5% | -$456.8M-1.1% | -$452.0M-0.5% | -$449.6M-3.7% | -$433.5M-2.0% | -$425.1M-0.9% | -$421.4M-4.1% | -$404.8M |
PTN Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.6M+69.8% | -$5.4M-10.5% | -$4.8M+30.9% | -$7.0M+18.5% | -$8.6M+17.8% | -$10.5M-77.4% | -$5.9M-319.4% | -$1.4M |
| Capital Expenditures | $0 | $0-100.0% | $5K | N/A | $0-100.0% | $38K | $0-100.0% | $117K |
| Free Cash Flow | -$4.1M+23.6% | -$5.4M+17.3% | -$6.5M | N/A | -$8.6M+18.1% | -$10.5M-78.0% | -$5.9M-287.3% | -$1.5M |
| Investing Cash Flow | $630K | $0-100.0% | $2.5M | $0 | $0-100.0% | $9.5M+216.2% | $3.0M+2660.8% | -$117K |
| Financing Cash Flow | $328K-92.6% | $4.5M+31.9% | $3.4M+2761.7% | -$127K-101.4% | $9.1M+83.7% | $5.0M+1008.0% | $449K+1873.1% | -$25K |
| 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 |
PTN Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | 95.2%-4.8pp | 100.0%+10.8pp | 89.2% |
| Operating Margin | 52.7% | N/A | N/A | N/A | N/A | 57.7%+347.7pp | -290.1%+320.6pp | -610.6% |
| Net Margin | 52.9% | N/A | N/A | N/A | N/A | -385.6%-138.4pp | -247.2%+477.9pp | -725.1% |
| Return on Equity | 1180.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 54.3%+183.3pp | -129.0%-72.4pp | -56.7%+172.4pp | -229.1%-155.1pp | -74.0%-16.1pp | -57.9%-11.6pp | -46.3%-12.4pp | -33.9% |
| Current Ratio | 1.02+0.7 | 0.32-0.1 | 0.38+0.1 | 0.26-0.9 | 1.20+0.1 | 1.09+0.4 | 0.72-1.3 | 2.05 |
| Debt-to-Equity | 20.73+22.3 | -1.58+0.1 | -1.68-0.2 | -1.44-7.7 | 6.22+8.4 | -2.15+0.4 | -2.55-5.0 | 2.43 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -516.9%-236.4pp | -280.5%-152.9pp | -127.6% |
Note: Shareholder equity is negative (-$4.8M), 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 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Palatin Tech's annual revenue?
Palatin Tech (PTN) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% 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 Palatin Tech's revenue growing?
Palatin Tech (PTN) revenue declined by 100% year-over-year, from $4.5M to $0 in fiscal year 2025.
Is Palatin Tech profitable?
No, Palatin Tech (PTN) reported a net income of -$17.3M in fiscal year 2025.
What is Palatin Tech's earnings per share (EPS)?
Palatin Tech (PTN) reported diluted earnings per share of $-32.15 for fiscal year 2025. This represents a 68.2% 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.
What is Palatin Tech's EBITDA?
Palatin Tech (PTN) had EBITDA of -$17.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Palatin Tech's free cash flow?
Palatin Tech (PTN) generated -$21.3M in free cash flow during fiscal year 2025. This represents a 32.4% change compared to the previous fiscal year. 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.
What is Palatin Tech's operating cash flow?
Palatin Tech (PTN) generated -$21.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Palatin Tech's total assets?
Palatin Tech (PTN) had $3.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Palatin Tech's capital expenditures?
Palatin Tech (PTN) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Palatin Tech spend on research and development?
Palatin Tech (PTN) invested $14.9M in research and development during fiscal year 2025.
How many shares does Palatin Tech have outstanding?
Palatin Tech (PTN) had 929,597 shares outstanding as of fiscal year 2025.
What is Palatin Tech's current ratio?
Palatin Tech (PTN) had a current ratio of 0.36 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Palatin Tech's debt-to-equity ratio?
Palatin Tech (PTN) had a debt-to-equity ratio of -1.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Palatin Tech's return on assets (ROA)?
Palatin Tech (PTN) had a return on assets of -529.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Palatin Tech's cash runway?
Based on fiscal year 2025 data, Palatin Tech (PTN) had $2.6M in cash against an annual operating cash burn of $21.3M. This gives an estimated cash runway of approximately 1 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.
Why is Palatin Tech's debt-to-equity ratio negative or unusual?
Palatin Tech (PTN) has negative shareholder equity of -$4.8M 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.
What is Palatin Tech's Piotroski F-Score?
Palatin Tech (PTN) has a Piotroski F-Score of 0 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Palatin Tech's earnings high quality?
Palatin Tech (PTN) has an earnings quality ratio of 1.23x, 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.
Can Palatin Tech cover its interest payments?
Palatin Tech (PTN) has an interest coverage ratio of -1162.1x, meaning it can struggle to cover its interest obligations. 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.