Galmed Pharmaceuticals Ltd. (GLMD) Income Statement
GLMD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGLMD revenue and net income
GLMD profit margins
GLMD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GLMD quarterly EPS vs estimates
Galmed Pharmaceuticals beat the analyst EPS estimate in 4 of the last 6 quarters.
GLMD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.0M | $1.1M | $467,000 |
| Cost of revenue | — | $83,000 | $31,000 | $35,000 | $42,000 | $39,000 | $35,000 | $0 | $13.2M | $17.2M |
| Gross profit | — | −$83,000 | −$31,000 | −$35,000 | −$42,000 | −$39,000 | −$35,000 | $2.0M | $1.1M | $467,000 |
| Research & development | $4.9M | $3.0M | $3.6M | $13.0M | $27.2M | $26.1M | $18.2M | $8.3M | $9.7M | $14.3M |
| Sales, general & admin | $3.6M | $3.3M | $3.9M | $4.7M | $5.7M | $4.1M | $4.2M | $4.4M | $3.8M | $3.1M |
| Total operating expenses | $8.5M | $6.3M | $7.5M | $17.7M | $32.9M | $30.2M | $22.4M | $12.8M | $13.4M | $17.3M |
| Operating income | −$8.5M | −$6.3M | −$7.5M | −$17.7M | −$32.9M | −$30.2M | −$22.4M | −$10.7M | −$12.4M | −$16.9M |
| Interest income | $914,000 | $503,000 | $375,000 | $297,000 | $562,000 | $1.2M | $2.0M | $959,000 | $65,000 | $35,000 |
| Interest expense | — | $15,000 | $11,000 | $215,000 | $43,000 | $31,000 | $33,000 | $42,000 | $49,000 | $67,000 |
| Income before taxes | −$10.3M | −$7.5M | −$6.9M | −$17.9M | −$32.5M | −$28.8M | −$20.5M | −$9.8M | −$12.3M | −$16.8M |
| Income taxes | — | — | −$15.0M | $705,000 | −$519,000 | −$1.2M | −$1.9M | $75,000 | $12.4M | $106,000 |
| Net income | −$10.3M | −$7.5M | −$6.9M | −$17.9M | −$32.5M | −$28.8M | −$20.5M | −$9.9M | −$12.3M | −$17.0M |
| EBITDA | −$10.3M | −$7.4M | −$6.9M | −$17.6M | −$32.4M | −$30.2M | −$22.3M | −$10.3M | −$12.1M | −$16.7M |
| EPS (diluted) | −$2.50 | −$9.02 | −$16.35 | −$136.80 | −$183.90 | −$157.08 | −$104.79 | −$70.38 | −$128.07 | −$196.60 |
| Gross margin | — | — | — | — | — | — | — | 100.0% | 100.0% | 100.0% |
| Operating margin | — | — | — | — | — | — | — | −525.8% | −1,139.5% | −3,615.0% |
| Net margin | — | — | — | — | — | — | — | −483.6% | −1,133.5% | −3,630.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | — | — | — | — | — | — | — | $74,000 | $9,000 | — | $17,000 |
| Gross profit | — | — | — | — | — | — | — | — | −$74,000 | −$9,000 | — | −$17,000 |
| Research & development | $1.8M | $2.1M | $2.1M | $1.1M | $1.1M | $634,000 | $1.1M | $738,000 | $534,000 | $635,000 | $1.1M | $556,000 |
| Sales, general & admin | $684,000 | $946,000 | $946,000 | $1.0M | $1.1M | $630,000 | $572,000 | $1.3M | $688,000 | $775,000 | $1.0M | $912,000 |
| Total operating expenses | $2.8M | $3.0M | $3.0M | $2.1M | $2.1M | $1.3M | $1.6M | $2.0M | $1.2M | $1.4M | $2.2M | $1.5M |
| Operating income | −$2.8M | −$3.0M | −$3.0M | −$2.1M | −$2.1M | −$1.3M | −$1.6M | −$2.0M | −$1.2M | −$1.4M | −$2.2M | −$1.5M |
| Interest income | $154,000 | — | $411,000 | $203,000 | $140,000 | — | — | $97,000 | $103,000 | — | — | — |
| Interest expense | $102,000 | — | — | — | — | $448,000 | — | — | — | — | — | $5,000 |
| Income before taxes | −$2.7M | −$4.8M | −$4.8M | −$1.9M | −$2.5M | −$1.1M | −$3.2M | −$1.9M | −$1.1M | −$1.3M | −$2.0M | −$1.5M |
| Income taxes | — | — | — | — | — | — | — | — | — | −$37,812 | — | $47,586 |
| Net income | −$2.7M | −$4.8M | −$4.8M | −$1.9M | −$2.5M | −$1.1M | −$3.2M | −$1.9M | −$1.1M | −$1.3M | −$2.0M | −$1.5M |
| EBITDA | −$2.8M | −$4.8M | −$3.0M | −$1.9M | −$2.5M | −$1.1M | — | −$1.9M | −$1.0M | −$1.3M | — | −$1.5M |
| EPS (diluted) | −$2.86 | −$0.62 | −$0.92 | −$0.33 | −$0.63 | −$0.62 | −$1.94 | −$2.31 | −$2.13 | −$2.64 | −$0.98 | −$2.88 |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GLMD's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GLMD financial results
Galmed Pharmaceuticals reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $10.3 million. Diluted earnings per share came to −$2.50.
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GLMD income statement FAQ
Does Galmed Pharmaceuticals have revenue?
Galmed Pharmaceuticals reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Galmed Pharmaceuticals profitable?
No. Galmed Pharmaceuticals reported a net loss of $10.3 million in fiscal 2025.
How much does Galmed Pharmaceuticals spend on research and development?
Galmed Pharmaceuticals spent $4.9 million on research and development in fiscal 2025.
What are Galmed Pharmaceuticals's earnings per share?
Galmed Pharmaceuticals earned $-2.50 per diluted share in fiscal 2025, compared with $-9.02 a year earlier.
When does Galmed Pharmaceuticals's fiscal year end?
Galmed Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.