Filing Flows › Applied Energetics (AERG) › Q4 2025
Applied Energetics (AERG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Applied Energetics (AERG) reported revenue of $73K for the fourth quarter 2025 (Q4 2025), -90% from a year earlier and -33% from the quarter before.
Applied Energetics, Q4 2025: revenue $73K (-90% year over year), net loss $4.0M, operating cash flow −$2.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $73K | -33% | -90% |
| Operating profit | −$4.1M | — | — |
| Net earnings | −$4.0M | — | — |
| Operating cash flow | −$2.6M | — | — |
What changed
Revenue was $73K in Q4 2025, down 90% year over year and down 33% from the previous quarter.
Gross margin was 34.2%, down 24.9 points from Q4 2024. Operating costs exceeded revenue by $4.1M, an operating margin of -5598.6%. Operating expenses grew 59% against a revenue fall of 90%. The fastest-growing cost line was Research & development (+1007%). The quarter ended with a net loss of $4.0M, wider than the previous quarter's $4.0M loss.
Operating cash flow was −$2.6M. Non-cash charges added back $87K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $172K. Capital expenditures of $53K exceeded it, leaving free cash flow of −$2.7M.
Questions
What was Applied Energetics' revenue in the fourth quarter 2025?
Applied Energetics (AERG) reported revenue of $73K for the fourth quarter 2025 (Q4 2025), -90% from a year earlier and -33% from the quarter before.
Source: Applied Energetics 10-K on SEC EDGAR.