Aethlon Medical, Inc. (AEMD) 10-Year Financial Performance & Capital Metrics

AEMD • • Industrial / General

HealthcareMedical DevicesSurgical & Minimally Invasive DevicesSurgical Energy & Ablation Systems

AboutAethlon Medical, Inc., a medical technology company, focuses on developing products to diagnose and treat life and organ threatening diseases in the United States. The company develops Aethlon Hemopurifier, a clinical-stage immunotherapeutic device that removes tumor-derived exosomes and life-threatening viruses from the human circulatory system, including removal of COVID-19 virus, associated variants, and related exosomes. Aethlon Medical, Inc. has a collaboration with the University of Pittsburgh Medical Center Hillman Cancer Center for studies related to head and neck cancer. The company was founded in 1999 and is based in San Diego, California.Show more

Revenue $0
EBITDA -$9M +26.7%
Net Income -$13M -9.7%
EPS (Diluted) -85.80 -76.5%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -245.88% -109.8%
ROIC -911.83% -44.6%
Debt/Equity 0.13 -22.2%
Interest Coverage -924.06

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 37.9% through buybacks
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Weak momentum: RS Rating 2 (bottom 2%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM0.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM-23.36%

ROCE

10Y Avg-155.4%

5Y Avg-100.63%

3Y Avg-113.62%

Latest-157.31%

Peer Comparison

Surgical Energy & Ablation Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BDMDBaird Medical Investment Holdings Limited	45.91M	1.25	2.55	17.74%	33.62%	33%	0.53
IVFINVO Fertility, Inc.	12.29M	0.81	-0.03	116.25%	-417.01%	-495.09%	0.78
AEMDAethlon Medical, Inc.	2.64M	2.71	-0.03			-0.2%	0.13
HYPDHyperion DeFi, Inc.	27.38M	3.35	-0.06	14.14%	-73.86%	-36.05%
NAOVNanoVibronix, Inc.	1.59M	1.46	-0.11	12.05%	-133.04%	-8.41%	0.19
ALURAllurion Technologies Inc.	23.21M	1.89	-0.16	-39.94%	-251.56%
RBOTVicarious Surgical Inc.	18.48M	2.86	-0.27			-380.42%	0.30
TELATELA Bio, Inc.	44.09M	0.99	-0.74	18.56%	-50.61%	-25.05%	1.51

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	886.57K	392.07K	149.63K	229.63K	650.19K	659.1K	294.17K	574.25K	0	0
Revenue Growth %	0.16%	-0.56%	-0.62%	0.53%	1.83%	0.01%	-0.55%	0.95%	-1%	-
Cost of Goods Sold+	0	0	2.63B	3.08B	0	0	0	0	0	0
COGS % of Revenue	-	-	17610.27%	13426.74%	-	-	-	-	-	-
Gross Profit+	-1.41B	-3.09B	-2.49B	-2.85B	650.19K	659.1K	294.17K	574.25K	0	0
Gross Margin %	-1596%	-7874.23%	-16610.27%	-12426.74%	1%	1%	1%	1%	-	-
Gross Profit Growth %	-0.48%	-1.18%	0.19%	-0.15%	1%	0.01%	-0.55%	0.95%	-1%	-
Operating Expenses+	5.27M	6.49M	4.98M	6.23M	6.58M	8.55M	10.72M	12.47M	12.64M	9.34M
OpEx % of Revenue	5.95%	16.55%	33.29%	27.13%	10.12%	12.97%	36.43%	21.72%	-	-
Selling, General & Admin	5.27M	6.49M	4.98M	6.23M	6.58M	8.55M	10.72M	12.47M	12.64M	9.34M
SG&A % of Revenue	5.95%	16.55%	33.29%	27.13%	10.12%	12.97%	36.43%	21.72%	-	-
Research & Development	782K	673K	586K	896K	927K	2.07M	2.34M	2.75M	2.52M	0
R&D % of Revenue	0.88%	1.72%	3.92%	3.9%	1.43%	3.14%	7.96%	4.78%	-	-
Other Operating Expenses	-782.41K	-673.43K	-586K	-896K	-927K	-2.07M	-2.34M	-2.75M	-2.52M	0
Operating Income+	-4.38M	-6.1M	-4.83M	-6M	-5.93M	-7.89M	-10.42M	-11.9M	-12.64M	-9.34M
Operating Margin %	-4.95%	-15.55%	-32.29%	-26.13%	-9.12%	-11.97%	-35.43%	-20.72%	-	-
Operating Income Growth %	-0.1%	-0.39%	0.21%	-0.24%	0.01%	-0.33%	-0.32%	-0.14%	-0.06%	0.26%
EBITDA+	-4.35M	-6.07M	-4.8M	-5.97M	-5.9M	-7.85M	-10.3M	-11.66M	-12.28M	-9M
EBITDA Margin %	-4.9%	-15.47%	-32.05%	-25.99%	-9.08%	-11.91%	-35%	-20.3%	-	-
EBITDA Growth %	-0.1%	-0.4%	0.21%	-0.24%	0.01%	-0.33%	-0.31%	-0.13%	-0.05%	0.27%
D&A (Non-Cash Add-back)	38.52K	32.41K	35.66K	30.7K	26.37K	39.94K	123.69K	240.89K	359.06K	339.56K
EBIT	-4.38M	-7M	-5.34M	-6M	-5.93M	-7.89M	-10.42M	-11.9M	-12.64M	-13.38M
Net Interest Income+	-574K	-304K	-362K	-220K	-54.23K	-1.58K	0	10.97K	428.39K	288.01K
Interest Income	0	0	0	0	0	0	0	10.97K	428.39K	298.12K
Interest Expense	573.78K	304.33K	361.6K	220.49K	54.23K	1.58K	0	0	0	10.11K
Other Income/Expense	-574K	-1.21M	-869K	-220K	-450.05K	0	0	-131.15K	428.39K	-4.05M
Pretax Income+	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Pretax Margin %	-5.59%	-18.64%	-38.1%	-27.09%	-9.81%	-11.97%	-35.43%	-20.95%	-	-
Income Tax+	0	0	0	-24.79K	0	0	0	0	0	0
Effective Tax Rate %	0.98%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-4.87M	-7.28M	-5.68M	-6.2M	-6.37M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Net Margin %	-5.5%	-18.56%	-37.96%	-26.98%	-9.8%	-11.97%	-35.41%	-20.95%	-	-
Net Income Growth %	0.28%	-0.49%	0.22%	-0.09%	-0.03%	-0.24%	-0.32%	-0.15%	-0.01%	-0.1%
Net Income (Continuing)	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-50.35K	-80.97K	-101.25K	-126.03K	-132.12K	-136.91K	-141.71K	0	0	0
EPS (Diluted)+	-988.50	-1410.00	-691.70	-512.70	-186.70	-65.20	-70.60	-58.60	-48.60	-85.80
EPS Growth %	0.46%	-0.43%	0.51%	0.26%	0.64%	0.65%	-0.08%	0.17%	0.17%	-0.77%
EPS (Basic)	-988.50	-1405.70	-691.70	-513.00	-186.70	-65.20	-70.60	-58.60	-48.60	-85.80
Diluted Shares Outstanding	4.93K	5.18K	8.21K	12.08K	34.15K	120.9K	147.6K	205.4K	251.3K	156.08K
Basic Shares Outstanding	4.93K	5.18K	8.21K	12.08K	34.15K	120.9K	147.6K	205.4K	251.3K	156.08K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	2.38M	1.6M	7.23M	4.04M	10.04M	10.35M	18.16M	15.09M	6.23M	5.95M
Cash & Short-Term Investments	2.12M	1.56M	6.97M	3.83M	9.6M	9.86M	17.07M	14.53M	5.44M	5.5M
Cash Only	2.12M	1.56M	6.97M	3.83M	9.6M	9.86M	17.07M	14.53M	5.44M	5.5M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	199.47K	0	74.81K	0	206.73K	149.08K	127.97K	0	0	0
Days Sales Outstanding	82.12	-	182.5	-	116.05	82.56	158.78	-	-	-
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	0	0	557.62K	783.81K	448.54K
Total Non-Current Assets+	152.61K	129.12K	121.65K	84.85K	346.57K	317.18K	1.26M	2.42M	2.02M	1.41M
Property, Plant & Equipment	36.04K	29.22K	27.55K	6.02K	276.91K	201.34K	1.14M	2.3M	1.9M	1.28M
Fixed Asset Turnover	24.60x	13.42x	5.43x	38.14x	2.35x	3.27x	0.26x	0.25x	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	94.16K	85K	75.83K	66.67K	57.5K	56.95K	2.2K	1.65K	1.1K	550
Long-Term Investments	0	0	0	0	0	46.73K	87.51K	87.51K	87.51K	97.81K
Other Non-Current Assets	22.41K	14.9K	18.27K	12.16K	12.16K	58.88K	120.81K	120.81K	33.3K	33.3K
Total Assets+	2.56M	1.73M	7.35M	4.12M	10.39M	10.67M	19.42M	17.51M	8.25M	7.36M
Asset Turnover	0.35x	0.23x	0.02x	0.06x	0.06x	0.06x	0.02x	0.03x	-	-
Asset Growth %	0.85%	-0.32%	3.26%	-0.44%	1.52%	0.03%	0.82%	-0.1%	-0.53%	-0.11%
Total Current Liabilities+	526.61K	611.76K	477.96K	1.82M	1.07M	1.38M	1.82M	1.51M	1.83M	1.9M
Accounts Payable	244.8K	484.42K	124.45K	131.93K	285.04K	337.68K	499.96K	432.89K	777.86K	534.52K
Days Payables Outstanding	-	-	0.02	0.02	-	-	-	-	-	-
Short-Term Debt	0	0	0	962.3K	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	100K	114.85K	344.55K	0	0	0
Other Current Liabilities	145.11K	57.87K	0	374.46K	0	595.89K	0	0	0	178.21K
Current Ratio	4.51x	2.61x	15.13x	2.21x	9.40x	7.53x	9.95x	10.03x	3.40x	3.13x
Quick Ratio	4.51x	2.61x	15.13x	2.21x	9.40x	7.53x	9.95x	10.03x	3.40x	3.13x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	500.14K	519.2K	841.15K	0	42.54K	0	602.5K	939.64K	649.75K	336.72K
Long-Term Debt	500.14K	519.2K	841.15K	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	42.54K	0	602.5K	939.64K	649.75K	336.72K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	1.05M	1.13M	1.32M	1.82M	1.11M	1.38M	2.43M	2.44M	2.48M	2.24M
Total Debt+	500.14K	519.2K	841.15K	962.3K	141.1K	42.54K	729.41K	1.21M	940.32K	649.75K
Net Debt	-1.6M	-1.04M	-6.13M	-2.87M	-9.46M	-9.82M	-16.34M	-13.32M	-4.5M	-4.85M
Debt / Equity	0.33x	0.87x	0.14x	0.42x	0.02x	0.00x	0.04x	0.08x	0.16x	0.13x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-7.64x	-20.04x	-13.36x	-27.21x	-109.34x	-4994.62x	-	-	-	-924.06x
Total Equity+	1.5M	595.41K	6.03M	2.3M	9.28M	9.29M	16.99M	15.06M	5.77M	5.12M
Equity Growth %	1.31%	-0.6%	9.13%	-0.62%	3.04%	0%	0.83%	-0.11%	-0.62%	-0.11%
Book Value per Share	304.80	115.03	734.69	190.27	271.68	76.87	115.12	73.34	22.95	32.83
Total Shareholders' Equity	1.55M	676.38K	6.13M	2.43M	9.41M	9.43M	17.13M	15.06M	5.77M	5.12M
Common Stock	7.62K	8.8K	17.74K	1.27K	9.37K	12.15K	15.42K	22.99K	2.63K	2.59K
Retained Earnings	-86.5M	-93.78M	-99.46M	-105.65M	-112.03M	-119.91M	-130.33M	-142.36M	-154.57M	-167.95M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-358.36K	0	0	0	0	0	0	-6.14K	-6.94K	-17.13K
Minority Interest	-50.35K	-80.97K	-101.25K	-126.03K	-132.12K	-136.91K	-141.71K	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-4.33M	-3.51M	-3.91M	-4.29M	-5.2M	-6.76M	-9.77M	-10.51M	-10.13M	-7.65M
Operating CF Margin %	-4.88%	-8.94%	-26.14%	-18.7%	-7.99%	-10.26%	-33.2%	-18.29%	-	-
Operating CF Growth %	0.14%	0.19%	-0.12%	-0.1%	-0.21%	-0.3%	-0.44%	-0.08%	0.04%	0.25%
Net Income	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Depreciation & Amortization	38.52K	32.41K	35.66K	30.7K	26.37K	39.94K	123.69K	240.89K	359.06K	339.56K
Stock-Based Compensation	202.84K	2.19M	1.26M	1.32M	844K	779.42K	750.62K	1.05M	1.22M	415.23K
Deferred Taxes	0	904.04K	507.12K	0	0	0	0	0	0	0
Other Non-Cash Items	517.23K	220.44K	279.26K	140.5K	427.07K	-2.49K	30.53K	166.53K	21.28K	4.89M
Working Capital Changes	-129.29K	457.63K	-293.66K	435.88K	-115K	309.69K	-251.11K	65.34K	478.66K	93.69K
Change in Receivables	-6.13K	199.47K	-74.81K	74.81K	-206.73K	57.65K	21.12K	127.97K	0	0
Change in Inventory	0	0	-6.87M	-74.81K	0	0	0	0	0	0
Change in Payables	-46.37K	322.14K	-104.15K	390.34K	-16.77K	341.86K	97.54K	-174.73K	156.68K	-53.36K
Cash from Investing+	-9.31K	-16.43K	-24.82K	0	-151.66K	-59.88K	-349.19K	-943.11K	-250.87K	0
Capital Expenditures	-9.31K	-16.43K	-24.82K	0	-151.66K	-59.88K	-349.19K	-943.11K	-250.87K	0
CapEx % of Revenue	0.01%	0.04%	0.17%	-	0.23%	0.09%	1.19%	1.64%	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	5.61M	2.96M	9.35M	1.15M	11.13M	7.13M	17.37M	8.91M	1.29M	7.73M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	-40.94K	-132.53K	-88.12K	-12.49K	-34.78K	4.19M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.34M	-3.52M	-3.94M	-4.29M	-5.35M	-6.82M	-10.12M	-11.45M	-10.38M	-7.65M
FCF Margin %	-4.89%	-8.98%	-26.3%	-18.7%	-8.23%	-10.35%	-34.39%	-19.94%	-	-
FCF Growth %	0.14%	0.19%	-0.12%	-0.09%	-0.25%	-0.28%	-0.48%	-0.13%	0.09%	0.26%
FCF per Share	-880.20	-680.49	-479.27	-355.33	-156.65	-56.45	-68.54	-55.74	-41.31	-48.98
FCF Conversion (FCF/Net Income)	0.89x	0.48x	0.69x	0.69x	0.82x	0.86x	0.94x	0.87x	0.83x	0.57x
Interest Paid	0	0	0	0	83.33K	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-452.42%	-693.69%	-171.39%	-148.71%	-110.12%	-84.94%	-79.25%	-75.06%	-117.21%	-245.88%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-12703.34%	-747.19%	-630.78%	-911.83%
Gross Margin	-159599.56%	-787423.26%	-1661027.23%	-1242674.36%	100%	100%	100%	100%	-	-
Net Margin	-549.53%	-1855.78%	-3796.16%	-2697.88%	-980.33%	-1196.58%	-3540.9%	-2094.89%	-	-
Debt / Equity	0.33x	0.87x	0.14x	0.42x	0.02x	0.00x	0.04x	0.08x	0.16x	0.13x
Interest Coverage	-7.64x	-20.04x	-13.36x	-27.21x	-109.34x	-4994.62x	-	-	-	-924.06x
FCF Conversion	0.89x	0.48x	0.69x	0.69x	0.82x	0.86x	0.94x	0.87x	0.83x	0.57x
Revenue Growth	16.28%	-55.78%	-61.84%	53.47%	183.15%	1.37%	-55.37%	95.21%	-100%	-

Revenue by Segment

	2013	2014	2019	2020	2021	2022
Govt Contract And Grant Revenue	-	-	-	-	659.1K	294.17K
Govt Contract And Grant Revenue Growth	-	-	-	-	-	-55.37%
Government Contract Revenue	-	-	229.63K	650.19K	-	-
Government Contract Revenue Growth	-	-	-	183.15%	-	-

Revenue by Geography

	2013	2014	2019	2020	2021	2022
Milestone M5	-	208.78K	-	-	-	-
Milestone M5 Growth	-	-	-	-	-	-
MileStoneTwoPointThreePointTwoPointTwoOtherMember	-	195.58K	-	-	-	-
MileStoneTwoPointThreePointTwoPointTwoOtherMember Growth	-	-	-	-	-	-
Milestone M3	-	195.58K	-	-	-	-
Milestone M3 Growth	-	-	-	-	-	-
Sixth Milestone	216.75K	-	-	-	-	-
Sixth Milestone Growth	-	-	-	-	-	-
MileStoneMTwo	216.75K	-	-	-	-	-
MileStoneMTwo Growth	-	-	-	-	-	-
MileStoneTwoPointTwoPointTwoPointThree	216.75K	-	-	-	-	-
MileStoneTwoPointTwoPointTwoPointThree Growth	-	-	-	-	-	-
MileStoneTwoPointThreePointThreePointOne	208.78K	-	-	-	-	-
MileStoneTwoPointThreePointThreePointOne Growth	-	-	-	-	-	-
MileStoneTwoPointTwoPointOnePointFour	183.37K	-	-	-	-	-
MileStoneTwoPointTwoPointOnePointFour Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Aethlon Medical, Inc. (AEMD) grew revenue by 0.0% over the past year. Growth has been modest.

Aethlon Medical, Inc. (AEMD) reported a net loss of $11.3M for fiscal year 2025.

Dividend & Returns

Aethlon Medical, Inc. (AEMD) has a return on equity (ROE) of -245.9%. Negative ROE indicates the company is unprofitable.

Aethlon Medical, Inc. (AEMD) had negative free cash flow of $1.72B in fiscal year 2025, likely due to heavy capital investments.

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Aethlon Medical, Inc. (AEMD) 10-Year Financial Performance & Capital Metrics

AEMD • • Industrial / General

HealthcareMedical DevicesSurgical & Minimally Invasive DevicesSurgical Energy & Ablation Systems

Revenue $0
EBITDA -$9M +26.7%
Net Income -$13M -9.7%
EPS (Diluted) -85.80 -76.5%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -245.88% -109.8%
ROIC -911.83% -44.6%
Debt/Equity 0.13 -22.2%
Interest Coverage -924.06

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 37.9% through buybacks
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Weak momentum: RS Rating 2 (bottom 2%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM0.1%

EPS CAGR

10Y-

5Y-

3Y-

TTM-23.36%

ROCE

10Y Avg-155.4%

5Y Avg-100.63%

3Y Avg-113.62%

Latest-157.31%

Peer Comparison

Surgical Energy & Ablation Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BDMDBaird Medical Investment Holdings Limited	45.91M	1.25	2.55	17.74%	33.62%	33%	0.53
IVFINVO Fertility, Inc.	12.29M	0.81	-0.03	116.25%	-417.01%	-495.09%	0.78
AEMDAethlon Medical, Inc.	2.64M	2.71	-0.03			-0.2%	0.13
HYPDHyperion DeFi, Inc.	27.38M	3.35	-0.06	14.14%	-73.86%	-36.05%
NAOVNanoVibronix, Inc.	1.59M	1.46	-0.11	12.05%	-133.04%	-8.41%	0.19
ALURAllurion Technologies Inc.	23.21M	1.89	-0.16	-39.94%	-251.56%
RBOTVicarious Surgical Inc.	18.48M	2.86	-0.27			-380.42%	0.30
TELATELA Bio, Inc.	44.09M	0.99	-0.74	18.56%	-50.61%	-25.05%	1.51

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	886.57K	392.07K	149.63K	229.63K	650.19K	659.1K	294.17K	574.25K	0	0
Revenue Growth %	0.16%	-0.56%	-0.62%	0.53%	1.83%	0.01%	-0.55%	0.95%	-1%	-
Cost of Goods Sold+	0	0	2.63B	3.08B	0	0	0	0	0	0
COGS % of Revenue	-	-	17610.27%	13426.74%	-	-	-	-	-	-
Gross Profit+	-1.41B	-3.09B	-2.49B	-2.85B	650.19K	659.1K	294.17K	574.25K	0	0
Gross Margin %	-1596%	-7874.23%	-16610.27%	-12426.74%	1%	1%	1%	1%	-	-
Gross Profit Growth %	-0.48%	-1.18%	0.19%	-0.15%	1%	0.01%	-0.55%	0.95%	-1%	-
Operating Expenses+	5.27M	6.49M	4.98M	6.23M	6.58M	8.55M	10.72M	12.47M	12.64M	9.34M
OpEx % of Revenue	5.95%	16.55%	33.29%	27.13%	10.12%	12.97%	36.43%	21.72%	-	-
Selling, General & Admin	5.27M	6.49M	4.98M	6.23M	6.58M	8.55M	10.72M	12.47M	12.64M	9.34M
SG&A % of Revenue	5.95%	16.55%	33.29%	27.13%	10.12%	12.97%	36.43%	21.72%	-	-
Research & Development	782K	673K	586K	896K	927K	2.07M	2.34M	2.75M	2.52M	0
R&D % of Revenue	0.88%	1.72%	3.92%	3.9%	1.43%	3.14%	7.96%	4.78%	-	-
Other Operating Expenses	-782.41K	-673.43K	-586K	-896K	-927K	-2.07M	-2.34M	-2.75M	-2.52M	0
Operating Income+	-4.38M	-6.1M	-4.83M	-6M	-5.93M	-7.89M	-10.42M	-11.9M	-12.64M	-9.34M
Operating Margin %	-4.95%	-15.55%	-32.29%	-26.13%	-9.12%	-11.97%	-35.43%	-20.72%	-	-
Operating Income Growth %	-0.1%	-0.39%	0.21%	-0.24%	0.01%	-0.33%	-0.32%	-0.14%	-0.06%	0.26%
EBITDA+	-4.35M	-6.07M	-4.8M	-5.97M	-5.9M	-7.85M	-10.3M	-11.66M	-12.28M	-9M
EBITDA Margin %	-4.9%	-15.47%	-32.05%	-25.99%	-9.08%	-11.91%	-35%	-20.3%	-	-
EBITDA Growth %	-0.1%	-0.4%	0.21%	-0.24%	0.01%	-0.33%	-0.31%	-0.13%	-0.05%	0.27%
D&A (Non-Cash Add-back)	38.52K	32.41K	35.66K	30.7K	26.37K	39.94K	123.69K	240.89K	359.06K	339.56K
EBIT	-4.38M	-7M	-5.34M	-6M	-5.93M	-7.89M	-10.42M	-11.9M	-12.64M	-13.38M
Net Interest Income+	-574K	-304K	-362K	-220K	-54.23K	-1.58K	0	10.97K	428.39K	288.01K
Interest Income	0	0	0	0	0	0	0	10.97K	428.39K	298.12K
Interest Expense	573.78K	304.33K	361.6K	220.49K	54.23K	1.58K	0	0	0	10.11K
Other Income/Expense	-574K	-1.21M	-869K	-220K	-450.05K	0	0	-131.15K	428.39K	-4.05M
Pretax Income+	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Pretax Margin %	-5.59%	-18.64%	-38.1%	-27.09%	-9.81%	-11.97%	-35.43%	-20.95%	-	-
Income Tax+	0	0	0	-24.79K	0	0	0	0	0	0
Effective Tax Rate %	0.98%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-4.87M	-7.28M	-5.68M	-6.2M	-6.37M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Net Margin %	-5.5%	-18.56%	-37.96%	-26.98%	-9.8%	-11.97%	-35.41%	-20.95%	-	-
Net Income Growth %	0.28%	-0.49%	0.22%	-0.09%	-0.03%	-0.24%	-0.32%	-0.15%	-0.01%	-0.1%
Net Income (Continuing)	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-50.35K	-80.97K	-101.25K	-126.03K	-132.12K	-136.91K	-141.71K	0	0	0
EPS (Diluted)+	-988.50	-1410.00	-691.70	-512.70	-186.70	-65.20	-70.60	-58.60	-48.60	-85.80
EPS Growth %	0.46%	-0.43%	0.51%	0.26%	0.64%	0.65%	-0.08%	0.17%	0.17%	-0.77%
EPS (Basic)	-988.50	-1405.70	-691.70	-513.00	-186.70	-65.20	-70.60	-58.60	-48.60	-85.80
Diluted Shares Outstanding	4.93K	5.18K	8.21K	12.08K	34.15K	120.9K	147.6K	205.4K	251.3K	156.08K
Basic Shares Outstanding	4.93K	5.18K	8.21K	12.08K	34.15K	120.9K	147.6K	205.4K	251.3K	156.08K
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	2.38M	1.6M	7.23M	4.04M	10.04M	10.35M	18.16M	15.09M	6.23M	5.95M
Cash & Short-Term Investments	2.12M	1.56M	6.97M	3.83M	9.6M	9.86M	17.07M	14.53M	5.44M	5.5M
Cash Only	2.12M	1.56M	6.97M	3.83M	9.6M	9.86M	17.07M	14.53M	5.44M	5.5M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	199.47K	0	74.81K	0	206.73K	149.08K	127.97K	0	0	0
Days Sales Outstanding	82.12	-	182.5	-	116.05	82.56	158.78	-	-	-
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	0	0	557.62K	783.81K	448.54K
Total Non-Current Assets+	152.61K	129.12K	121.65K	84.85K	346.57K	317.18K	1.26M	2.42M	2.02M	1.41M
Property, Plant & Equipment	36.04K	29.22K	27.55K	6.02K	276.91K	201.34K	1.14M	2.3M	1.9M	1.28M
Fixed Asset Turnover	24.60x	13.42x	5.43x	38.14x	2.35x	3.27x	0.26x	0.25x	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	94.16K	85K	75.83K	66.67K	57.5K	56.95K	2.2K	1.65K	1.1K	550
Long-Term Investments	0	0	0	0	0	46.73K	87.51K	87.51K	87.51K	97.81K
Other Non-Current Assets	22.41K	14.9K	18.27K	12.16K	12.16K	58.88K	120.81K	120.81K	33.3K	33.3K
Total Assets+	2.56M	1.73M	7.35M	4.12M	10.39M	10.67M	19.42M	17.51M	8.25M	7.36M
Asset Turnover	0.35x	0.23x	0.02x	0.06x	0.06x	0.06x	0.02x	0.03x	-	-
Asset Growth %	0.85%	-0.32%	3.26%	-0.44%	1.52%	0.03%	0.82%	-0.1%	-0.53%	-0.11%
Total Current Liabilities+	526.61K	611.76K	477.96K	1.82M	1.07M	1.38M	1.82M	1.51M	1.83M	1.9M
Accounts Payable	244.8K	484.42K	124.45K	131.93K	285.04K	337.68K	499.96K	432.89K	777.86K	534.52K
Days Payables Outstanding	-	-	0.02	0.02	-	-	-	-	-	-
Short-Term Debt	0	0	0	962.3K	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	100K	114.85K	344.55K	0	0	0
Other Current Liabilities	145.11K	57.87K	0	374.46K	0	595.89K	0	0	0	178.21K
Current Ratio	4.51x	2.61x	15.13x	2.21x	9.40x	7.53x	9.95x	10.03x	3.40x	3.13x
Quick Ratio	4.51x	2.61x	15.13x	2.21x	9.40x	7.53x	9.95x	10.03x	3.40x	3.13x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	500.14K	519.2K	841.15K	0	42.54K	0	602.5K	939.64K	649.75K	336.72K
Long-Term Debt	500.14K	519.2K	841.15K	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	42.54K	0	602.5K	939.64K	649.75K	336.72K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	1.05M	1.13M	1.32M	1.82M	1.11M	1.38M	2.43M	2.44M	2.48M	2.24M
Total Debt+	500.14K	519.2K	841.15K	962.3K	141.1K	42.54K	729.41K	1.21M	940.32K	649.75K
Net Debt	-1.6M	-1.04M	-6.13M	-2.87M	-9.46M	-9.82M	-16.34M	-13.32M	-4.5M	-4.85M
Debt / Equity	0.33x	0.87x	0.14x	0.42x	0.02x	0.00x	0.04x	0.08x	0.16x	0.13x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-7.64x	-20.04x	-13.36x	-27.21x	-109.34x	-4994.62x	-	-	-	-924.06x
Total Equity+	1.5M	595.41K	6.03M	2.3M	9.28M	9.29M	16.99M	15.06M	5.77M	5.12M
Equity Growth %	1.31%	-0.6%	9.13%	-0.62%	3.04%	0%	0.83%	-0.11%	-0.62%	-0.11%
Book Value per Share	304.80	115.03	734.69	190.27	271.68	76.87	115.12	73.34	22.95	32.83
Total Shareholders' Equity	1.55M	676.38K	6.13M	2.43M	9.41M	9.43M	17.13M	15.06M	5.77M	5.12M
Common Stock	7.62K	8.8K	17.74K	1.27K	9.37K	12.15K	15.42K	22.99K	2.63K	2.59K
Retained Earnings	-86.5M	-93.78M	-99.46M	-105.65M	-112.03M	-119.91M	-130.33M	-142.36M	-154.57M	-167.95M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-358.36K	0	0	0	0	0	0	-6.14K	-6.94K	-17.13K
Minority Interest	-50.35K	-80.97K	-101.25K	-126.03K	-132.12K	-136.91K	-141.71K	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-4.33M	-3.51M	-3.91M	-4.29M	-5.2M	-6.76M	-9.77M	-10.51M	-10.13M	-7.65M
Operating CF Margin %	-4.88%	-8.94%	-26.14%	-18.7%	-7.99%	-10.26%	-33.2%	-18.29%	-	-
Operating CF Growth %	0.14%	0.19%	-0.12%	-0.1%	-0.21%	-0.3%	-0.44%	-0.08%	0.04%	0.25%
Net Income	-4.96M	-7.31M	-5.7M	-6.22M	-6.38M	-7.89M	-10.42M	-12.03M	-12.21M	-13.39M
Depreciation & Amortization	38.52K	32.41K	35.66K	30.7K	26.37K	39.94K	123.69K	240.89K	359.06K	339.56K
Stock-Based Compensation	202.84K	2.19M	1.26M	1.32M	844K	779.42K	750.62K	1.05M	1.22M	415.23K
Deferred Taxes	0	904.04K	507.12K	0	0	0	0	0	0	0
Other Non-Cash Items	517.23K	220.44K	279.26K	140.5K	427.07K	-2.49K	30.53K	166.53K	21.28K	4.89M
Working Capital Changes	-129.29K	457.63K	-293.66K	435.88K	-115K	309.69K	-251.11K	65.34K	478.66K	93.69K
Change in Receivables	-6.13K	199.47K	-74.81K	74.81K	-206.73K	57.65K	21.12K	127.97K	0	0
Change in Inventory	0	0	-6.87M	-74.81K	0	0	0	0	0	0
Change in Payables	-46.37K	322.14K	-104.15K	390.34K	-16.77K	341.86K	97.54K	-174.73K	156.68K	-53.36K
Cash from Investing+	-9.31K	-16.43K	-24.82K	0	-151.66K	-59.88K	-349.19K	-943.11K	-250.87K	0
Capital Expenditures	-9.31K	-16.43K	-24.82K	0	-151.66K	-59.88K	-349.19K	-943.11K	-250.87K	0
CapEx % of Revenue	0.01%	0.04%	0.17%	-	0.23%	0.09%	1.19%	1.64%	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	5.61M	2.96M	9.35M	1.15M	11.13M	7.13M	17.37M	8.91M	1.29M	7.73M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	-40.94K	-132.53K	-88.12K	-12.49K	-34.78K	4.19M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.34M	-3.52M	-3.94M	-4.29M	-5.35M	-6.82M	-10.12M	-11.45M	-10.38M	-7.65M
FCF Margin %	-4.89%	-8.98%	-26.3%	-18.7%	-8.23%	-10.35%	-34.39%	-19.94%	-	-
FCF Growth %	0.14%	0.19%	-0.12%	-0.09%	-0.25%	-0.28%	-0.48%	-0.13%	0.09%	0.26%
FCF per Share	-880.20	-680.49	-479.27	-355.33	-156.65	-56.45	-68.54	-55.74	-41.31	-48.98
FCF Conversion (FCF/Net Income)	0.89x	0.48x	0.69x	0.69x	0.82x	0.86x	0.94x	0.87x	0.83x	0.57x
Interest Paid	0	0	0	0	83.33K	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-452.42%	-693.69%	-171.39%	-148.71%	-110.12%	-84.94%	-79.25%	-75.06%	-117.21%	-245.88%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-12703.34%	-747.19%	-630.78%	-911.83%
Gross Margin	-159599.56%	-787423.26%	-1661027.23%	-1242674.36%	100%	100%	100%	100%	-	-
Net Margin	-549.53%	-1855.78%	-3796.16%	-2697.88%	-980.33%	-1196.58%	-3540.9%	-2094.89%	-	-
Debt / Equity	0.33x	0.87x	0.14x	0.42x	0.02x	0.00x	0.04x	0.08x	0.16x	0.13x
Interest Coverage	-7.64x	-20.04x	-13.36x	-27.21x	-109.34x	-4994.62x	-	-	-	-924.06x
FCF Conversion	0.89x	0.48x	0.69x	0.69x	0.82x	0.86x	0.94x	0.87x	0.83x	0.57x
Revenue Growth	16.28%	-55.78%	-61.84%	53.47%	183.15%	1.37%	-55.37%	95.21%	-100%	-

Revenue by Segment

	2013	2014	2019	2020	2021	2022
Govt Contract And Grant Revenue	-	-	-	-	659.1K	294.17K
Govt Contract And Grant Revenue Growth	-	-	-	-	-	-55.37%
Government Contract Revenue	-	-	229.63K	650.19K	-	-
Government Contract Revenue Growth	-	-	-	183.15%	-	-

Revenue by Geography

	2013	2014	2019	2020	2021	2022
Milestone M5	-	208.78K	-	-	-	-
Milestone M5 Growth	-	-	-	-	-	-
MileStoneTwoPointThreePointTwoPointTwoOtherMember	-	195.58K	-	-	-	-
MileStoneTwoPointThreePointTwoPointTwoOtherMember Growth	-	-	-	-	-	-
Milestone M3	-	195.58K	-	-	-	-
Milestone M3 Growth	-	-	-	-	-	-
Sixth Milestone	216.75K	-	-	-	-	-
Sixth Milestone Growth	-	-	-	-	-	-
MileStoneMTwo	216.75K	-	-	-	-	-
MileStoneMTwo Growth	-	-	-	-	-	-
MileStoneTwoPointTwoPointTwoPointThree	216.75K	-	-	-	-	-
MileStoneTwoPointTwoPointTwoPointThree Growth	-	-	-	-	-	-
MileStoneTwoPointThreePointThreePointOne	208.78K	-	-	-	-	-
MileStoneTwoPointThreePointThreePointOne Growth	-	-	-	-	-	-
MileStoneTwoPointTwoPointOnePointFour	183.37K	-	-	-	-	-
MileStoneTwoPointTwoPointOnePointFour Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Aethlon Medical, Inc. (AEMD) grew revenue by 0.0% over the past year. Growth has been modest.

Aethlon Medical, Inc. (AEMD) reported a net loss of $11.3M for fiscal year 2025.

Dividend & Returns

Aethlon Medical, Inc. (AEMD) has a return on equity (ROE) of -245.9%. Negative ROE indicates the company is unprofitable.

Aethlon Medical, Inc. (AEMD) had negative free cash flow of $1.72B in fiscal year 2025, likely due to heavy capital investments.