The company remains a pre-revenue entity with negligible quarterly income of $90,000 in 2025Q3, while R&D expenses continue to dominate the cost structure, peaking at $9.6 million in 2024Q3.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Sales/Revenue | 90K | 90K | 0 | 81K | 1.03M | 1.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | -100% | -92.14% | -9.96% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | -395K | 0 | 811K | 0 | 0 | 524K | 447K | 420.09K | 50.72K | 55.94K | 77.52K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | 45.8% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 485K | 90K | -811K | 81K | 1.03M | 620K | -447K | -420.09K | -50.72K | -55.94K | -77.52K | -53.47K | 0 | -4.12K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 538.89% | 100% | - | 100% | 100% | 54.2% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | 111.1% | -1101.23% | -92.14% | 66.13% | 238.7% | -6.41% | -728.23% | 9.33% | 27.84% | -45% | - | 100% | - | - | - | - | - | - | - | - |
| Operating Expenses | 26M | 36.34M | 41.31M | 52M | 35.13M | 25.58M | 21.95M | 21.65M | 23.83M | 26.91M | 26.85M | 24.83M | 22.48M | 6.59M | 7.95M | 9.62K | 25.41K | 14.54K | 18.82K | 11.99K | 17.53K |
| OpEx % of Revenue | - | 40374.44% | - | 64198.77% | 3411.07% | 2236.36% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 7.98M | 15.21M | 12.08M | 13.33M | 12M | 8.08M | 6.31M | 5.1M | 6.73M | 9.15M | 9.27M | 11.46M | 10.18M | 3.92M | 4.51M | 9.62K | 25.41K | 14.54K | 18.92K | 11.01K | 17.53K |
| SG&A % of Revenue | - | 16903.33% | - | 16458.02% | 1164.95% | 706.03% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 18.24M | 21.12M | 30.05M | 38.67M | 23.14M | 17.51M | 16.09M | 16.55M | 17.09M | 17.7M | 17.5M | 13.31M | 12.27M | 2.67M | 3.44M | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 23471.11% | - | 47740.74% | 2246.12% | 1530.33% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -220K | 0 | -811K | 0 | 0 | 0 | -447K | 0 | 0 | 55.94K | 77.52K | 53.47K | 37.91K | 1.56K | 581 | 0 | 0 | 0 | 0 | 982 | 0 |
| Operating Income | -25.51M | -36.25M | -42.12M | -51.92M | -34.1M | -24.96M | -22.39M | -22.07M | -23.83M | -26.91M | -26.85M | -24.83M | -22.48M | -6.59M | -7.95M | -9.95K | -26.05K | -16.02K | -26.42K | -11.99K | -17.53K |
| Operating Margin % | -28346.67% | -40274.44% | - | -64098.77% | -3311.07% | -2182.17% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 13.95% | 18.87% | -52.24% | -36.61% | -11.48% | -1.46% | 7.37% | 11.46% | -0.24% | -8.12% | -10.45% | -241.03% | 17.05% | -79753.3% | 61.8% | -62.58% | 39.34% | -120.29% | 31.6% | - |
| EBITDA | -24.68M | -35.43M | -41.31M | -51.13M | -33.41M | -24.44M | -21.95M | -21.65M | -23.78M | -26.86M | -26.77M | -24.78M | -22.44M | -6.59M | -7.95M | -9.62K | -25.41K | -14.54K | -26.32K | -11.99K | -17.53K |
| EBITDA Margin % | -27417.78% | -39362.22% | - | -63123.46% | -3243.2% | -2136.36% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 48.98% | 14.24% | 19.21% | -53.06% | -36.68% | -11.36% | -1.36% | 8.94% | 11.46% | -0.32% | -8.04% | -10.4% | -240.54% | 17.06% | -82546.06% | 62.15% | -74.78% | 44.78% | -119.49% | 31.6% | - |
| D&A (Non-Cash Add-back) | 836K | 821K | 811K | 790K | 699K | 524K | 447K | 420.09K | 50.72K | 55.94K | 77.52K | 53.47K | 37.91K | 1.56K | 581 | 337 | 648 | 1.49K | 0 | 0 | 0 |
| EBIT | -25.51M | -36.25M | -38.24M | -51.92M | -34.1M | -24.77M | -22.21M | -21.9M | -23.83M | -26.91M | -26.85M | -24.83M | -22.48M | -6.59M | -7.26M | 15.05K | 8.29K | -15.93K | -26.32K | 0 | 0 |
| Net Interest Income | -319K | 2.36M | 3.88M | 3.1M | 1.09M | 190K | 178K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | -319K | 2.36M | 3.88M | 3.1M | 1.09M | 190K | 178K | 172.39K | 173.36K | 5.43K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 173.36K | 5.43K | 5.01K | 7.87K | 866 | 2.51K | 1.1M | 4.76K | 6.62K | 6.4K | 4.82K | 2.81K | 870 |
| Other Income/Expense | 2.04M | 2.36M | 3.88M | 3.1M | 1.09M | 190K | 178K | 172.39K | 173.36K | 309.55K | 2.53M | 3.8M | -2.21M | -4.18M | -414K | 20.24K | 27.73K | -6.31K | -4.73K | 0 | 0 |
| Pretax Income | -23.47M | -33.89M | -38.24M | -48.82M | -33.02M | -24.77M | -22.21M | -21.9M | -23.65M | -26.6M | -24.32M | -21.02M | -24.69M | -10.77M | -8.36M | 10.29K | 1.67K | -22.33K | 0 | 0 | 0 |
| Pretax Margin % | -26078.89% | -37652.22% | - | -60269.14% | -3205.53% | -2165.56% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 173.36K | 0 | 5.01K | 7.87K | 866 | 2.51K | 0 | 0 | 0 | 0 | 31.24K | 14.8K | 18.4K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.73% | 0% | -0.02% | -0.04% | -0% | -0.02% | 0% | 0% | 0% | 0% | - | - | - |
| Net Income | -23.47M | -33.89M | -38.24M | -48.82M | -33.02M | -24.77M | -22.21M | -21.9M | -23.65M | -26.6M | -24.32M | -21.02M | -24.69M | -10.77M | -8.36M | 10.29K | 1.67K | -22.33K | -31.24K | -14.8K | -18.4K |
| Net Margin % | -26078.89% | -37652.22% | - | -60269.14% | -3205.53% | -2165.56% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 48.43% | 11.39% | 21.66% | -47.86% | -33.27% | -11.52% | -1.44% | 7.42% | 11.08% | -9.37% | -15.68% | 14.84% | -129.14% | -28.86% | -81361.54% | 514.64% | 107.5% | 28.52% | -111.1% | 19.58% | - |
| Net Income (Continuing) | -23.47M | -33.89M | -38.24M | -48.82M | -33.02M | -24.77M | -22.21M | -21.9M | -23.65M | -26.6M | -24.32M | -21.02M | -24.69M | -10.77M | -8.36M | 10.29K | 1.67K | -22.33K | -31.24K | -14.8K | -18.4K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.75 | -1.09 | -1.27 | -1.83 | -1.37 | -1.20 | -1.83 | -4.37 | -6.69 | -11.96 | -15.06 | -16.53 | -27.07 | -14.21 | -227.31 | 0.38 | 0.00 | -0.06 | -0.08 | -0.04 | -0.24 |
| EPS Growth % | 48.98% | 14.17% | 30.6% | -33.58% | -14.17% | 34.43% | 58.12% | 34.68% | 44.06% | 20.58% | 8.89% | 38.94% | -90.5% | 93.75% | -59918.42% | - | 107.49% | 28.45% | -111.06% | 83.42% | - |
| EPS (Basic) | - | -1.09 | -1.27 | -1.83 | -1.37 | -1.20 | -1.83 | -4.37 | -6.69 | -11.96 | -15.06 | -16.53 | -27.07 | -14.21 | -227.31 | 0.38 | 0.00 | -0.06 | -0.08 | -0.04 | -0.24 |
| Diluted Shares Outstanding | 31.24M | 31.2M | 30.07M | 26.6M | 24.14M | 20.57M | 12.13M | 4.98M | 3.54M | 2.23M | 1.61M | 1.27M | 912.12K | 758.42K | 36.78K | 26.73K | 371.83K | 371.83K | 371.83K | 371.83K | 76.99K |
| Basic Shares Outstanding | 31.24M | 31.2M | 30.07M | 26.6M | 24.14M | 20.57M | 12.13M | 4.98M | 3.54M | 2.23M | 1.61M | 1.27M | 912.12K | 758.42K | 36.78K | 26.73K | 371.83K | 371.83K | 371.83K | 371.83K | 76.99K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical and commercial execution risk
As reported in recent financial filings, Actinium Pharmaceuticals remains a pre-revenue entity, with quarterly figures showing negligible income of $90,000 in 2025Q3, underscoring the company's reliance on sporadic milestone payments rather than a sustainable, recurring product-based revenue stream as it approaches potential commercialization of its lead asset.
The absence of consistent top-line growth reflects the company's status as a clinical-stage developer rather than a commercial enterprise. Investors should interpret these intermittent revenue spikes as non-recurring accounting events that provide little insight into the future demand for Iomab-B or the broader ARC platform.
Based on the provided income statement data, the company's cost structure is heavily skewed toward R&D, which reached a peak of $9.6 million in 2024Q3, highlighting the non-discretionary nature of clinical trial execution and isotope procurement required to maintain the current development pipeline.
The volatility in R&D spending suggests a project-based approach to clinical development, where costs fluctuate significantly based on trial phase milestones. Management's ability to control these expenses while navigating the complex regulatory requirements for radiopharmaceuticals remains a critical factor for long-term viability.
According to historical income statements, the company has utilized stock-based compensation as a significant component of its expense structure, with a notable $8.9 million charge recorded in 2025Q1, which complicates the assessment of true cash-based operating losses and dilutes existing shareholder equity over time.
The reliance on equity-based incentives suggests a strategy to preserve cash for clinical operations, yet this practice creates a persistent drag on EPS. Analysts should monitor the relationship between these non-cash charges and the company's actual cash burn to determine the true cost of talent retention.
While the market focuses on clinical trial readouts, the income statement reveals a high-cost structure that may be unsustainable if the logistical burden of nuclear medicine adoption at transplant centers limits the addressable market, as suggested by the company's persistent negative operating margins.
The primary risk is not merely clinical efficacy, but the potential for a flat uptake curve due to the specialized infrastructure required for Iomab-B. Investors should be wary of the assumption that regulatory approval will automatically translate into rapid commercial adoption given the administrative hurdles inherent in radiopharmaceutical delivery.
Quick answers to the most common questions about buying ATNM stock.
For fiscal year 2025, Actinium Pharmaceuticals, Inc. (ATNM) reported total revenue of $0.1M.
Actinium Pharmaceuticals, Inc. (ATNM) reported a net loss of $33.9M for the fiscal year ending 2025.
Actinium Pharmaceuticals, Inc. (ATNM) reported an operating income of $-36.2M, resulting in an operating profit margin of -40274.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Actinium Pharmaceuticals, Inc. (ATNM) generated $0.1M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.