Polypid Ltd. Financials

PYPD

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

Financial Health Signals

Piotroski F-Score Neutral

4/9

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

Earnings Quality Low Quality

0.76x

For every $1 of reported earnings, Polypid Ltd. generates $0.76 in operating cash flow (-$22.0M OCF vs -$29.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-18.6x

Polypid Ltd. earns $-18.6 in operating income for every $1 of interest expense (-$28.0M vs $1.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Polypid Ltd. (PYPD) financial statements, including the 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$26.4M

YoY-25.5%

Polypid Ltd.'s EBITDA was -$26.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.5% from the prior year.

Free Cash Flow

-$22.0M

YoY-26.4%

Polypid Ltd. generated -$22.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 26.4% from the prior year.

Net Income

-$29.0M

YoY-21.6%

Polypid Ltd. reported -$29.0M in net income in fiscal year 2024. This represents a decrease of 21.6% from the prior year.

EPS (Diluted)

$4.91

Polypid Ltd. earned $4.91 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 71.0% from the prior year.

Cash & Debt

$15.6M

YoY+194.6%

5Y CAGR+31.9%

Polypid Ltd. held $15.6M in cash against $634K in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

10M

Polypid Ltd. had 10M shares outstanding in fiscal year 2024. This represents an increase of 516.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$22.8M

YoY+41.3%

5Y CAGR+10.1%

Polypid Ltd. invested $22.8M in research and development in fiscal year 2024. This represents an increase of 41.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$76K

YoY-61.2%

5Y CAGR-38.7%

Polypid Ltd. invested $76K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 61.2% from the prior year.

PYPD Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$22.8M+41.3%	$16.1M-42.3%	$28.0M-8.4%	$30.6M+80.2%	$17.0M+20.4%	$14.1M
SG&A Expenses	$4.3M-22.6%	$5.5M-31.0%	$8.0M-16.6%	$9.6M+24.7%	$7.7M+114.6%	$3.6M
Operating Income	-$28.0M-22.6%	-$22.9M+41.2%	-$38.9M+9.9%	-$43.1M-64.2%	-$26.3M-41.6%	-$18.6M
Interest Expense	$1.5M-6.7%	$1.6M+58.2%	$1.0M	N/A	N/A	N/A
Income Tax	$42K-39.1%	$69K-46.5%	$129K	N/A	N/A	N/A
Net Income	-$29.0M-21.6%	-$23.9M+39.7%	-$39.6M+7.1%	-$42.6M-15.5%	-$36.9M-433.9%	-$6.9M
EPS (Diluted)	$4.91	$16.93	$61.09-10.5%	$68.27+1423.9%	$4.48	$23.69

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
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	$6.2M+30.6%	$4.8M	N/A	$4.0M	N/A	$8.4M	N/A	$7.4M
SG&A Expenses	$2.5M+127.0%	$1.1M	N/A	$1.5M	N/A	$2.2M	N/A	$2.4M
Operating Income	-$9.4M-53.6%	-$6.1M	N/A	-$5.8M	N/A	-$11.6M	N/A	-$10.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$53K+2550.0%	$2K	N/A	$10K	N/A	N/A	N/A	N/A
Net Income	-$10.0M-58.5%	-$6.3M	N/A	-$5.8M	N/A	-$11.8M	N/A	-$10.5M
EPS (Diluted)	$0.78-37.6%	$1.25	N/A	$3.95	N/A	$0.61	N/A	$0.56

PYPD Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$25.2M+64.1%	$15.4M-40.8%	$26.0M-41.3%	$44.2M-41.7%	$75.8M+124.7%	$33.8M
Current Assets	$16.6M+173.2%	$6.1M-57.3%	$14.2M-59.2%	$34.8M-26.2%	$47.2M+72.3%	$27.4M
Cash & Equivalents	$15.6M+194.6%	$5.3M-37.9%	$8.6M-12.9%	$9.8M+127.3%	$4.3M+10.1%	$3.9M
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	$17.5M+0.4%	$17.5M-13.3%	$20.1M+143.4%	$8.3M+169.5%	$3.1M-97.5%	$121.4M
Current Liabilities	$12.7M+74.0%	$7.3M-14.8%	$8.6M+5.9%	$8.1M+180.7%	$2.9M+11.6%	$2.6M
Long-Term Debt	$634K-90.1%	$6.4M-15.8%	$7.6M	N/A	N/A	N/A
Total Equity	$7.7M+466.6%	-$2.1M-136.0%	$5.8M-83.8%	$36.0M-50.6%	$72.8M+183.0%	-$87.6M
Retained Earnings	-$267.3M-12.2%	-$238.3M-11.1%	-$214.4M-22.6%	-$174.9M-32.2%	-$132.3M-41.8%	-$93.3M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$37.7M+49.4%	$25.2M+64.1%	$15.4M-41.5%	$26.3M+1.1%	$26.0M-25.4%	$34.8M-21.3%	$44.2M-28.0%	$61.4M
Current Assets	$30.0M+80.9%	$16.6M+173.2%	$6.1M-61.5%	$15.8M+11.0%	$14.2M-43.3%	$25.0M-28.1%	$34.8M-29.2%	$49.2M
Cash & Equivalents	$17.4M+11.6%	$15.6M+194.6%	$5.3M+56.3%	$3.4M-60.3%	$8.6M-26.5%	$11.6M+18.5%	$9.8M+31.8%	$7.4M
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	$17.2M-1.9%	$17.5M+0.4%	$17.5M-2.5%	$17.9M-11.1%	$20.1M+28.2%	$15.7M+89.8%	$8.3M+83.4%	$4.5M
Current Liabilities	$13.2M+3.7%	$12.7M+74.0%	$7.3M+33.7%	$5.5M-36.3%	$8.6M-1.7%	$8.7M+7.8%	$8.1M+86.9%	$4.3M
Long-Term Debt	N/A	$634K-90.1%	$6.4M-25.3%	$8.5M+12.7%	$7.6M	N/A	N/A	N/A
Total Equity	$20.5M+166.5%	$7.7M+466.6%	-$2.1M-125.1%	$8.3M+43.2%	$5.8M-69.5%	$19.1M-46.9%	$36.0M-36.8%	$56.9M
Retained Earnings	-$285.6M-6.8%	-$267.3M-12.2%	-$238.3M-5.3%	-$226.3M-5.6%	-$214.4M-8.0%	-$198.6M-13.6%	-$174.9M-15.5%	-$151.4M

PYPD Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$22.0M-27.4%	-$17.2M+49.8%	-$34.3M-6.0%	-$32.4M-50.0%	-$21.6M-24.4%	-$17.4M
Capital Expenditures	$76K-61.2%	$196K-88.9%	$1.8M-33.4%	$2.7M+239.7%	$781K-11.1%	$879K
Free Cash Flow	-$22.0M-26.4%	-$17.4M+51.7%	-$36.1M-3.0%	-$35.0M-56.6%	-$22.4M-22.7%	-$18.2M
Investing Cash Flow	-$330K-108.7%	$3.8M-77.0%	$16.6M-55.1%	$36.9M+190.5%	-$40.8M-73.0%	-$23.6M
Financing Cash Flow	$32.4M+224.9%	$10.0M-39.3%	$16.4M+1488.8%	$1.0M-98.4%	$62.8M+66.7%	$37.7M
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	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	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

PYPD 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	-115.1%+40.2pp	-155.3%-2.9pp	-152.3%-56.0pp	-96.3%-47.7pp	-48.6%-28.1pp	-20.5%
Current Ratio	1.31+0.5	0.83-0.8	1.66-2.7	4.31-12.1	16.41+5.8	10.62
Debt-to-Equity	0.08+3.1	-3.04-4.3	1.30+1.1	0.23+0.2	0.04+1.4	-1.39
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
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	-26.5%+5.8pp	-32.2%	N/A	-22.2%	N/A	-34.0%	N/A	-17.1%
Current Ratio	2.28+1.0	1.31+0.5	0.83-2.1	2.89+1.2	1.66-1.2	2.87-1.4	4.31-7.1	11.38
Debt-to-Equity	0.84+0.8	0.08+3.1	-3.04-4.1	1.02-0.3	1.30+0.5	0.82+0.6	0.23+0.2	0.08
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 Polypid Ltd. profitable?

No, Polypid Ltd. (PYPD) reported a net income of -$29.0M in fiscal year 2024.

What is Polypid Ltd.'s earnings per share (EPS)?

Polypid Ltd. (PYPD) reported diluted earnings per share of $4.91 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 Polypid Ltd.'s EBITDA?

Polypid Ltd. (PYPD) had EBITDA of -$26.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Polypid Ltd. have?

As of fiscal year 2024, Polypid Ltd. (PYPD) had $15.6M in cash and equivalents against $634K in long-term debt.

What is Polypid Ltd.'s free cash flow?

Polypid Ltd. (PYPD) generated -$22.0M in free cash flow during fiscal year 2024. This represents a -26.4% 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 Polypid Ltd.'s operating cash flow?

Polypid Ltd. (PYPD) generated -$22.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Polypid Ltd.'s total assets?

Polypid Ltd. (PYPD) had $25.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Polypid Ltd.'s capital expenditures?

Polypid Ltd. (PYPD) invested $76K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Polypid Ltd. spend on research and development?

Polypid Ltd. (PYPD) invested $22.8M in research and development during fiscal year 2024.

How many shares does Polypid Ltd. have outstanding?

Polypid Ltd. (PYPD) had 10M shares outstanding as of fiscal year 2024.

What is Polypid Ltd.'s current ratio?

Polypid Ltd. (PYPD) had a current ratio of 1.31 as of fiscal year 2024, which is considered adequate.

What is Polypid Ltd.'s debt-to-equity ratio?

Polypid Ltd. (PYPD) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Polypid Ltd.'s return on assets (ROA)?

Polypid Ltd. (PYPD) had a return on assets of -115.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Polypid Ltd.'s cash runway?

Based on fiscal year 2024 data, Polypid Ltd. (PYPD) had $15.6M in cash against an annual operating cash burn of $22.0M. 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 Polypid Ltd.'s Piotroski F-Score?

Polypid Ltd. (PYPD) 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 Polypid Ltd.'s earnings high quality?

Polypid Ltd. (PYPD) has an earnings quality ratio of 0.76x, 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 Polypid Ltd. cover its interest payments?

Polypid Ltd. (PYPD) has an interest coverage ratio of -18.6x, 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.