Baird Medical Investment Holdings Limited (BDMD) Income Statement
BDMD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBDMD revenue and net income
Where BDMD's revenue goes
2025Each bar shows an amount and its share of revenue. BDMD kept −121.0% of revenue as net income.
BDMD profit margins
BDMD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −39.2% | −13.7% | +4.5% | — |
| Gross profit | −42.2% | −12.3% | +3.9% | — |
| Operating income | −266.7% | — | — | — |
| Net income | −319.0% | — | — | — |
| EPS (diluted) | −256.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BDMD quarterly EPS vs estimates
Baird Medical Investment beat the analyst EPS estimate in 2 of the last 3 quarters.
BDMD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $22.5M | $37.0M | $31.5M | $35.1M | $27.7M | $18.1M | $12.2M |
| Cost of revenue | $3.7M | $4.4M | $4.2M | $7.1M | $4.5M | $2.5M | $1.3M |
| Gross profit | $18.9M | $32.7M | $27.2M | $28.0M | $23.2M | $15.6M | $10.9M |
| Research & development | $20.1M | $6.2M | $4.3M | $3.9M | $1.0M | $750,482 | $1.2M |
| Sales, general & admin | $24.4M | $10.0M | $11.1M | $7.0M | $6.7M | $5.0M | $4.0M |
| Total operating expenses | $44.4M | $17.3M | $15.4M | $13.0M | $9.8M | $5.7M | $5.3M |
| Operating income | −$25.5M | $15.3M | $11.9M | $13.6M | $11.9M | $9.9M | $5.6M |
| Interest income | — | $393 | $1,562 | $8,553 | $2,326 | — | — |
| Interest expense | $737,370 | $576,752 | $284,271 | $299,269 | $153,921 | $159,471 | $89,618 |
| Income before taxes | −$26.4M | $14.1M | $12.4M | $14.5M | $12.6M | $9.6M | −$5.8M |
| Income taxes | $1.2M | $1.5M | $1.7M | $1.7M | $2.4M | $2.4M | $1.3M |
| Net income | −$27.3M | $12.5M | $10.5M | $12.6M | $11.7M | $7.1M | −$7.2M |
| EBITDA | −$24.5M | $16.2M | $13.2M | $16.3M | $14.2M | $10.3M | $5.8M |
| EPS (diluted) | −$0.89 | $0.57 | −$0.36 | $0.01 | −$0.02 | — | — |
| Gross margin | 83.8% | 88.2% | 86.6% | 79.9% | 83.6% | 86.1% | 89.4% |
| Operating margin | −113.3% | 41.4% | 37.7% | 38.8% | 43.0% | 54.4% | 45.9% |
| Net margin | −121.0% | 33.6% | 33.5% | 35.8% | 42.1% | 39.2% | −58.8% |
| Jun '26 | Mar '26 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.9M | $14.6M | $8.0M | $12.0M | $23.9M | $12.0M | $13.1M | $6.6M | $19.9M | $0 | $11.5M | $5.8M |
| Cost of revenue | $1.3M | $2.2M | $1.4M | $1.4M | $2.7M | $1.4M | $1.6M | $822,780 | $2.2M | — | $2.0M | $1.0M |
| Gross profit | $8.6M | $12.3M | $6.5M | $10.6M | $21.2M | $10.6M | $11.5M | $5.7M | $17.7M | — | $9.5M | $4.8M |
| Research & development | $1.4M | $13.0M | $7.2M | $2.1M | $4.1M | $2.1M | $2.0M | $1.0M | $2.0M | — | $2.3M | $1.1M |
| Sales, general & admin | $6.4M | — | $9.8M | $3.5M | $6.8M | $3.5M | $4.4M | $2.1M | $6.9M | — | $4.2M | $2.0M |
| Total operating expenses | $7.8M | $27.5M | $17.0M | $5.5M | $10.9M | $5.5M | $6.4M | $3.2M | $8.9M | $2.2M | $6.5M | $3.3M |
| Operating income | $846,806 | −$15.2M | −$10.5M | $5.1M | $10.2M | $5.1M | $5.1M | $2.5M | $8.9M | −$2.2M | $3.0M | $1.5M |
| Interest expense | $334,689 | $379,456 | $358,215 | — | $337,704 | — | $238,656 | — | $201,880 | — | $82,391 | — |
| Income before taxes | $574,246 | −$15.6M | −$10.8M | $4.6M | $9.2M | $4.6M | $4.9M | $2.4M | $9.4M | −$1.6M | $2.9M | $1.5M |
| Income taxes | $560,747 | $607,017 | $559,131 | $503,955 | $1.0M | $503,955 | $481,280 | $240,640 | $1.1M | $128,385 | $581,924 | $290,962 |
| Net income | $35,405 | −$16.0M | −$11.3M | $4.1M | $8.1M | $4.1M | $4.3M | $2.2M | $8.2M | −$1.7M | $2.3M | $1.2M |
| EBITDA | $1.5M | −$14.6M | −$9.7M | $5.4M | $11.0M | $5.4M | $5.7M | $2.8M | $9.5M | −$1.6M | $3.4M | $1.7M |
| EPS (diluted) | — | — | −$0.43 | $0.37 | — | $0.15 | −$0.11 | −$0.20 | −$0.07 | −$0.16 | −$0.18 | $0.05 |
| Gross margin | 87.0% | 84.7% | 82.1% | 88.5% | 88.5% | 88.5% | 87.5% | 87.5% | 89.0% | — | 82.3% | 82.3% |
| Operating margin | 8.5% | −104.1% | −131.3% | 42.8% | 42.8% | 42.8% | 38.7% | 38.7% | 44.5% | — | 25.9% | 25.9% |
| Net margin | 0.4% | −109.6% | −141.9% | 34.0% | 34.0% | 34.0% | 33.0% | 33.0% | 41.3% | — | 20.2% | 20.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BDMD's financial statements (latest annual report filed April 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BDMD financial results
In fiscal year 2025 (ended December 31, 2025), Baird Medical Investment reported revenue of $22.5 million, down 39.2% from the year before. It had a net loss of $27.3 million, a net profit margin of −121.0%. Diluted earnings per share came to −$0.89. Over five years revenue grew at an average rate of 4.5% a year.
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BDMD income statement FAQ
What is Baird Medical Investment's annual revenue?
Baird Medical Investment reported total revenue of $22.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 39.2% from $37.0 million the previous year.
Is Baird Medical Investment profitable?
No. Baird Medical Investment reported a net loss of $27.3 million in fiscal 2025, a net profit margin of −121.0%; its operating margin was −113.3%.
What is Baird Medical Investment's gross margin?
Baird Medical Investment's gross margin was 83.8% in fiscal 2025: for every $100 of revenue, Baird Medical Investment kept $84 after the direct cost of its products and services.
How much does Baird Medical Investment spend on research and development?
Baird Medical Investment spent $20.1 million on research and development in fiscal 2025, 89.3% of revenue.
How fast is Baird Medical Investment growing?
Revenue grew 4.5% a year on average over the last five fiscal years, from $18.1 million to $22.5 million.
What are Baird Medical Investment's earnings per share?
Baird Medical Investment earned $-0.89 per diluted share in fiscal 2025, compared with $0.57 a year earlier.
When does Baird Medical Investment's fiscal year end?
Baird Medical Investment's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 24, 2026.