PAVmed Inc.
Business
PAVmed Inc. is a diversified commercial-stage life sciences company operating in medical devices, diagnostics, and digital health through independently financed subsidiaries. The company markets the EsoGuard Esophageal DNA Test and EsoCheck cell collection device through subsidiary Lucid Diagnostics for early detection of esophageal precancer in GERD patients. Veris Health, a majority-owned subsidiary, develops digital health tools and an implantable physiological monitor for personalized cancer care. PAVmed is also developing medical devices including PortIO intraosseous vascular access and endoscopic imaging technology licensed from Duke University.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 100,000 | 3 | 2 | 377,000 | 500,000 | |
| Cost of revenue | 218,000 | 5 | 6 | 4 | 585,000 | |
| Sales and marketing | 917,000 | 12 | 18 | 19 | 9 | |
| General and administrative | 16 | 25 | 31 | 41 | 25 | |
| Amortization of acquired intangible assets | 0 | 559,000 | 2 | 2 | 146,000 | |
| Research and development | 4 | 6 | 14 | 25 | 20 | |
| Total operating expenses | 22 | 47 | 71 | 91 | 55 | |
| Operating loss | −22 | −44 | −69 | −91 | −54 | |
| Interest income | 29,000 | 254,000 | — | — | — | |
| Interest expense | −21,000 | −45,000 | — | — | — | |
| Gain on deconsolidation of subsidiary | 0 | 72 | — | — | — | |
| Change in fair value - equity method investment | 8 | 532,000 | — | — | — | |
| Change in fair value - Senior Secured Convertible Notes | −3 | 462,000 | — | — | — | |
| Debt extinguishments loss - Senior Secured Convertible Notes | −58,000 | −3 | −4 | −5 | −4 | |
| Debt modification expense | 0 | −2 | — | — | — | |
| Management fee income | 14 | 4 | — | — | — | |
| Grant income | 416,000 | 109,000 | — | — | — | |
| Other income (expense), net | 19 | 73 | −10 | — | — | |
| Income (loss) before provision for income tax | −2 | 28 | −79 | −103 | −56 | |
| Provision for income taxes | 0 | 0 | — | — | — | |
| Net income (loss) before noncontrolling interests | −2 | 28 | −79 | −103 | −56 | |
| Net loss attributable to the noncontrolling interests | 3 | 11 | 15 | 14 | 6 | |
| Net income (loss) attributable to PAVmed Inc. | 401,000 | 40 | −64 | −89 | −50 | |
| Net income (loss) attributable to PAVmed Inc. common stockholders | −4 | 32 | −66 | −89 | −51 | |
| Net income (loss) per share attributable to PAVmed Inc. common stockholders basic (in dollars per share) | −5.63 | 99.15 | −9.16 | −15.03 | −0.65 | |
| Net income (loss) per share attributable to PAVmed Inc. common stockholders diluted (in dollars per share) | −5.63 | 14.9 | −9.16 | −15.03 | — | |
| Weighted average common shares outstanding, basic (in shares) | 670,466 | 322,407 | 7 | 6 | 78 | |
| Weighted average common shares outstanding, diluted (in shares) | 670,466 | 2 | 7 | 6 | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 2 | 1 | 20 | 40 | 77 | |
| Accounts receivable | 15,000 | 18,000 | — | — | — | |
| Prepaid expenses, deposits, and other current assets | 1 | 961,000 | — | — | — | |
| Total current assets | 3 | 2 | 24 | 44 | 83 | |
| Fixed assets, net | 77,000 | 151,000 | 2 | 2 | 2 | |
| Operating lease right-of-use assets | 2 | 3 | 4 | 3 | — | |
| Equity method investment - at fair value | 34 | 26 | — | — | — | |
| Other assets | 56,000 | 208,000 | 1 | 1 | 725,000 | |
| Total assets | 39 | 31 | 33 | 54 | 87 | |
| Accounts payable | 678,000 | 657,000 | 2 | 3 | 3 | |
| Accrued expenses and other current liabilities | 2 | 5 | 7 | 4 | 4 | |
| Operating lease liabilities, current portion | 573,000 | 513,000 | 2 | 1 | — | |
| Senior Secured Convertible Notes - at fair value | 11 | 29 | 44 | 34 | — | |
| Total current liabilities | 15 | 35 | 54 | 41 | 8 | |
| Operating lease liabilities, less current portion | 2 | 2 | 3 | 2 | — | |
| Total liabilities | 17 | 38 | 57 | 43 | 8 | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Common stock, $0.001 par value. Authorized, 25,000,000 shares (Note 15); 927,934 and 373,300 shares outstanding as of December 31, 2025 and December 31, 2024, respectively | 1,000 | 1,000 | 9,000 | 6,000 | 86,000 | |
| Additional paid-in capital | 268 | 249 | 238 | 216 | 198 | |
| Accumulated deficit | −259 | −255 | −294 | −228 | −139 | |
| Total PAVmed Inc. Stockholders Equity (Deficit) | 34 | −2 | −54 | −10 | 62 | |
| Noncontrolling interests | −12 | −5 | 30 | 21 | 18 | |
| Total Stockholders Equity (Deficit) | 22 | −7 | −24 | 11 | 79 | |
| Total liabilities and stockholders equity | 39 | 31 | 33 | 54 | 87 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization expense | 105,000 | 1 | 3 | 2 | 226,000 | |
| Stock-based compensation | 2 | 6 | 11 | 20 | 15 | |
| Issuance of stock for services | 505,000 | 598,000 | — | — | — | |
| Change in fair value - Senior Secured Convertible Notes | 3 | −462,000 | — | — | — | |
| Non-cash lease expense | −16,000 | 8,000 | — | — | — | |
| Accounts receivable | 3,000 | 43,000 | −44,000 | 183,000 | −200,000 | |
| Prepaid expenses, deposits and current and other assets | 109,000 | 832,000 | −246,000 | 397,000 | −3 | |
| Accounts payable | 24,000 | −59,000 | −918,000 | −742,000 | 174,000 | |
| Accrued expenses and other current liabilities | −38,000 | −304,000 | 3 | −554,000 | 2 | |
| Net cash flows used in operating activities | −5 | −34 | −52 | −71 | −41 | |
| Purchase of equipment | −31,000 | −55,000 | −242,000 | −2 | −1 | |
| Decrease in cash due to deconsolidation of subsidiary | 0 | −16 | — | — | — | |
| Net cash flows provided by (used in) investing activities | −31,000 | −16 | 758,000 | −5 | −4 | |
| Payment financing costs debt exchange | −109,000 | 0 | — | — | — | |
| Payment Senior Secured Convertible Note acceleration floor payments | 0 | −531,000 | −79,000 | — | — | |
| Proceeds issue common stock Employee Stock Purchase Plan | 0 | 62,000 | 259,000 | 358,000 | — | |
| Net cash flows provided by financing activities | 6 | 31 | 31 | 38 | 104 | |
| Net increase (decrease) in cash | 353,000 | −18 | −20 | −38 | 60 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is PAVmed Inc.'s CIK number?
PAVmed Inc.'s SEC CIK number is 0001624326 (1624326). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find PAVmed Inc.'s SEC filings?
All of PAVmed Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did PAVmed Inc. last report earnings?
PAVmed Inc. (PAVM) most recently filed an earnings 8-K with the SEC on May 15, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-023352). This is PAVmed Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is PAVmed Inc.'s most recent earnings 8-K?
PAVmed Inc.'s latest earnings 8-K (Item 2.02) was filed May 15, 2026 under accession 0001493152-26-023352. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View PAVmed Inc.'s latest earnings 8-K →
Look up any company's CIK number →