Apnimed Past Earnings Performance

Past criteria checks 3/6

Apnimed has been growing earnings at an average annual rate of 49.5%, while the Pharmaceuticals industry saw earnings growing at 13.5% annually. Revenues have been growing at an average rate of 398% per year. Apnimed's return on equity is 244.8%, and it has net margins of 148.3%.

Key information

49.48%

Earnings growth rate

56.45%

EPS growth rate

Pharmaceuticals Industry Growth	5.95%
Revenue growth rate	398.05%
Return on equity	244.76%
Net Margin	148.32%
Last Earnings Update	30 Jun 2026

Recent past performance updates

Recent updates

Seeking Alpha • Sep 10

Apnimed: What We Know Heading Into The Feb PDUFA

Summary Apnimed, Inc. (APMD) is a late-stage, de-risked regulatory play with a fully funded path to commercialisation, focused on AD109 for obstructive sleep apnea (OSA). AD109 (Oxnimbi) demonstrated robust Phase 3 efficacy, clear differentiation from CPAP, and manageable safety, with an NDA under FDA review and a February 2027 PDUFA date. APMD's financials show a transition from R&D to pre-commercial buildout, with a strong cash position and multiple years of runway to support launch activities. The investment thesis hinges on successful approval, rapid adoption in a large untreated OSA market, and execution risk around payer dynamics and real-world uptake. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How Apnimed makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:APMD Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses	R&D Expenses
30 Jun 26	115	171	32	40
31 Mar 26	120	39	25	47
31 Dec 25	38	-58	23	62
31 Dec 24	8	-109	22	97
31 Dec 23	0	-80	11	37
31 Dec 22	1	-26	7	21

Quality Earnings: APMD has high quality earnings.

Growing Profit Margin: APMD became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: APMD has become profitable over the past 5 years, growing earnings by 49.5% per year.

Accelerating Growth: APMD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: APMD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (1%).

Return on Equity

High ROE: Whilst APMD's Return on Equity (244.76%) is outstanding, this metric is skewed due to their high level of debt.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/14 03:49
End of Day Share Price	2026/09/14 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Apnimed, Inc. is covered by 4 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jason Matthew Gerberry	BofA Global Research
Joshua Schimmer	Cantor Fitzgerald & Co.
Umer Raffat	Evercore ISI