AERG APPLIED ENERGETICS, INC.

Overview and Growth

Fiscal 2025 results for APPLIED ENERGETICS, INC. combined $461.73K of revenue with net loss of $14.87M and an operating cash outflow of $9.24M. At $461.73K, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $2.43M in fiscal 2024, revenue decreased 81.0%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$0.07, which connects the reported earnings outcome with the company’s diluted share count. Diluted shares averaged 223.99M; this is the reported share base over which the company’s diluted per-share earnings were spread. Compared with 212.89M diluted shares in fiscal 2024, the current 223.99M base was 5.2% higher. Total assets stood at $9.06M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.05x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $249.11K, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 54.0% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $14.93M, reflecting costs that exceeded gross profit. The company ended the period with a net loss of $14.87M, extending the operating result through all remaining items. EBITDA was negative $14.65M, showing a deficit before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $14.87M, before the effect of income taxes. Relative to period-end equity, the net loss represented 196.7%. Relative to total assets, the net loss represented 164.1%. Compared with a $9.17M net loss in fiscal 2024, the current loss increased to $14.87M.

Liquidity and Capital Structure

Total assets were $9.06M, supported by $1.50M of liabilities and $7.56M of shareholder equity. The near-term balance sheet paired $6.97M of current assets with $840.35K of current liabilities at the reporting date. The current ratio was 8.29x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $6.44M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 765.9% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented 83.4% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 16.6%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 71.0%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 337.7% higher than fiscal 2024 assets of $2.07M, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $9.24M, rather than cash generation from operations. Capital expenditures used $1.23M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $10.47M cash deficit after capital spending. Relative to total assets, the post-investment cash deficit measured 115.5%. Compared with a $5.09M operating cash outflow in fiscal 2024, the current outflow increased to $9.24M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.