BDMD revenueFY2025$22.54M
- FY YoY
- -39.2%
BDMD revenue was $22.54M for fiscal 2025 (ended Dec 31, 2025), down 39.2% from fiscal 2024. It rose in 1 of the last 3 fiscal years.
Baird Medical Investment Holdings Ltd (BDMD) financials
For fiscal 2025 (ended Dec 31, 2025), Baird Medical Investment Holdings Ltd reported $22.54M of revenue and -$27.28M of net income.
- Revenue, FY2025
- $22.54M
- Revenue growth, YoY
- -39.2%
- Net income, FY2025
- -$27.28M
- Net margin
- -121.0%
- Free cash flow, FY2025
- -$1.39M
- EPS, diluted, FY2025
- -$0.98
- Cash
- $178.3K
- Total debt
- $8.72M
- P/S
- 0.20
- Market cap
- $4.6M
FY2022FY2025
FY2022FY2025
FY2022FY2025
BDMD revenue and earnings growth
BDMD net incomeFY2025-$27.28M
BDMD net income was -$27.28M for fiscal 2025 (ended Dec 31, 2025), compared with $12.45M in fiscal 2024.
BDMD EPSFY2025-$0.98
BDMD diluted EPS was -$0.98 for fiscal 2025 (ended Dec 31, 2025), compared with $0.57 in fiscal 2024.
BDMD free cash flowFY2025-$1.39M
BDMD free cash flow was -$1.39M for fiscal 2025 (ended Dec 31, 2025), compared with -$9.17M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | $22.54M | $37.04M | $31.46M | $35.09M |
| Cost of revenue | $3.65M | $4.38M | $4.23M | $7.05M |
| Gross profit | $18.88M | $32.65M | $27.23M | $28.04M |
| Research and development | $20.13M | $6.17M | $4.27M | $3.86M |
| Selling, general and admin | $14.12M | $7.10M | $8.55M | $6.96M |
| Operating income | -$25.63M | $15.32M | $11.86M | $13.63M |
| Interest expense | $737.4K | $576.4K | $284.3K | $299.3K |
| Pre-tax income | -$26.37M | $14.09M | $12.36M | $14.52M |
| Income tax | $1.17M | $1.49M | $1.70M | $1.75M |
| Net income | -$27.28M | $12.45M | $10.55M | $12.57M |
| EPS, basic | -$0.98 | $0.57 | $0.51 | $0.49 |
| EPS, diluted | -$0.98 | $0.57 | $0.51 | $0.49 |
| Diluted shares | 27.8M | 21.8M | 20.6M | 25.6M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Cash and equivalents | $178.3K | $2.97M | $1.51M | $1.71M |
| Receivables | $42.53M | $46.58M | $31.10M | - |
| Inventory | $1.09M | $1.30M | $1.14M | - |
| Current assets | $54.97M | $61.42M | $40.08M | - |
| Goodwill | $60.3K | $57.8K | $59.4K | - |
| Total assets | $69.70M | $77.96M | $56.71M | - |
| Current liabilities | $32.36M | $34.62M | $18.98M | - |
| Short-term debt | $2.64M | $867.8K | $817.5K | - |
| Long-term debt | $6.09M | $3.44M | $1.61M | - |
| Total debt | $8.72M | $4.31M | $2.43M | - |
| Total liabilities | $38.48M | $38.20M | $21.00M | - |
| Shareholders' equity | $31.37M | $39.66M | $35.71M | $25.78M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | -$1.34M | -$6.31M | -$1.02M | $486.0K |
| Capital expenditures | $42.3K | $2.85M | $2.64M | $5.91M |
| Free cash flow | -$1.39M | -$9.17M | -$3.66M | -$5.42M |
| Investing cash flow | -$42.3K | -$2.47M | -$2.65M | -$5.92M |
| Financing cash flow | -$1.39M | $10.33M | $3.48M | $4.41M |
| Stock-based compensation | $17.47M | - | - | - |
| Depreciation and amortization | $1.10M | $1.14M | $1.01M | $916.1K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue growth, YoY | -39.2% | 17.7% | -10.4% | - |
| Net income growth, YoY | - | 18.1% | -16.1% | - |
| EPS growth, YoY | - | 11.8% | 4.1% | - |
| Gross margin | 83.8% | 88.2% | 86.6% | 79.9% |
| Operating margin | -113.7% | 41.4% | 37.7% | 38.8% |
| Net margin | -121.0% | 33.6% | 33.5% | 35.8% |
| Free cash flow margin | -6.2% | -24.8% | -11.6% | -15.5% |
| Return on equity | -87.0% | 31.4% | 29.5% | 48.8% |
| Return on assets | -39.1% | 16.0% | 18.6% | - |
| Current ratio | 1.70 | 1.77 | 2.11 | - |
| Debt to equity | 0.28 | 0.11 | 0.07 | - |
Source: XBRL data Baird Medical Investment Holdings Ltd files with the SEC, latest filing dated Jul 27, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
BDMD peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| BDMD | $22.54M | -39.2% | -$27.28M | -121.0% | $4.6M |
| SYK | $26.30B | +7.9% | $3.62B | 13.8% | $124.00B |
| MMM | $25.25B | +1.7% | $3.54B | 14.0% | $97.47B |
| BSX | $21.07B | +8.9% | $3.50B | 16.6% | $63.81B |
| BDX | $23.25B | +17.4% | $941.00M | 4.0% | $58.63B |
| MDLN | $30.68B | - | $683.00M | 2.2% | $53.55B |
| RMD | $5.73B | +9.0% | $1.59B | 27.8% | $33.16B |
| DXCM | $5.10B | +13.0% | $991.00M | 19.4% | $30.24B |
| WST | $3.40B | +12.6% | $638.90M | 18.8% | $28.78B |
BDMD FAQ
9 questionsWhat is BDMD revenue?
Baird Medical Investment Holdings Ltd (BDMD) reported $22.54M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 39.2% from the year before.Is BDMD profitable?
No. Baird Medical Investment Holdings Ltd reported a net loss of $27.28M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does BDMD have?
Baird Medical Investment Holdings Ltd reported $178.3K in cash and cash equivalents and $8.72M of debt on its most recent balance sheet in SEC filings.How fast is BDMD revenue growing?
Baird Medical Investment Holdings Ltd's revenue changed -39.2% in fiscal 2025, to $22.54M.What is BDMD gross margin?
Baird Medical Investment Holdings Ltd's gross profit was $18.88M on $22.54M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 83.8%.What is BDMD free cash flow?
Baird Medical Investment Holdings Ltd generated -$1.39M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$1.34M less capital expenditures.What is BDMD earnings per share?
Diluted earnings per share were -$0.98 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did BDMD last report financial results?
The latest statements here come from Baird Medical Investment Holdings Ltd's 20-F/A filed on Jul 27, 2026, covering the period ended Dec 31, 2025.Where does this BDMD financial data come from?
Quantisnow builds these statements from the structured XBRL data Baird Medical Investment Holdings Ltd files with the SEC. It is provided for information only and is not investment advice.