Autonomix Medical, a development-stage medical device company focused on sensing and treating peripheral nervous system disorders, reported QQ3 2025 results with no revenue disclosed in the quarter. The company posted an operating loss of $2.747 million driven by a total operating expense base of $2.747 million, with R&D of $1.044 million and G&A of $1.703 million. EBITDA was negative at $2.62 million and net income was -$2.712 million for the quarter, with basic and diluted EPS at -$1.46. QoQ improvements in operating income (3.14%) and net income (3.38%) combined with a yoy improvement in earnings per share (EPS) of -758.82% reflect some cost containment and cadence improvements in spending, even as revenue remains absent. The company augmented its liquidity via equity financing, issuing common stock of $10.025 million, which increased cash and cash equivalents to $11.823 million at period end from $5.155 million at the start, providing a runway into the next 12–18 months for R&D and clinical milestones. On the balance sheet, Autonomix shows a robust current ratio (5.31x) and a net cash position (net debt of -$10.69 million), with no long-term debt, underscoring financial flexibility to support product development. The core investment question remains whether Autonomix can convert its platform into a revenue-generating product through partnerships, regulatory clearance, or licensing deals; until then, the stock remains a high-risk, high-uncertainty investment profile sensitive to clinical and regulatory progress.
Key Performance Indicators
Operating Income
Increasing
-2.75M
QoQ: 3.14% | YoY: 6.05%
Net Income
Increasing
-2.71M
QoQ: 3.38% | YoY: 12.88%
EPS
Decreasing
-1.46
QoQ: 40.89% | YoY: -758.82%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: Not disclosed for QQ3 2025 (N/A). Gross Profit: N/A.
Operating Income: -$2.747 million in QQ3 2025; QoQ improvement +3.14%, YoY improvement +6.05%.
- R&D expenses: $1.044 million; General and Administrative: $1.703 million; Selling and Marketing: not disclosed separately (S,G&A total = $1.703 million).
- EBITDA: -$2.620 million; Net Income: -$2.712 million; EPS: -$1.46; Weighted Avg shares: 1.852 million.
Cash Flow and liquidity:
- Net cash provided by operating activities: -$2.301 million.
- Capital expenditures: -$5,000.
- Net cash provided by financing activities: +$8.974 million (driven by common stock issued of $10.025 million).
- Net change in cash: +$6.668 million; Cash at end of period: $11.823 million; Cash at beginning: $5.155 million.
Balance Sheet:
- Total assets: $11.952 million; Total current assets: $11.932 million; Cash and cash equivalents: $11.823 million; Short-term debt: $1.132 million.
- Total liabilities: $2.245 million (current liabilities: $2.245 million); Retained earnings: -$47.187 million; Total stockholders’ equity: $9.707 million; Net cash position: -$10.691 million (net debt negative).
Key ratios (where available):
- Current ratio: 5.31x; Quick ratio: 5.31x; Debt-to-Assets: 0.0947; Price-to-book: 0.717; Enterprise value multiple: 1.423.
- Earnings multiple indicators are negative due to losses (Price/Earnings: not meaningful; Price-to-Sales: 0).
Income Statement
Metric
Value
YoY Change
QoQ Change
Operating Income
-2.75M
6.05%
3.14%
Net Income
-2.71M
12.88%
3.38%
EPS
-1.46
-758.82%
40.89%
Key Financial Ratios
Return on Assets
Weak
-0.23%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.28%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
5.31
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.12
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-0.64x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
0.72x
Trading below book value, potential value opportunity or distressed
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