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Apnimed (APMD) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Sep 8, 2026 · Apnimed (APMD) Q2 2026 earnings results →
Q2 2026 Revenue down 29% year over year to $12.1M · operating margin -96.9%
Apnimed made $12.1M in Q2 2026 (-29% Y/Y). Operating margin -96.9%, net earnings $126M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 8, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $12.1M in Q2 2026, down 29% year over year.
Operating costs exceeded revenue by $11.7M, an operating margin of -96.9%. Total costs grew 3% against a revenue fall of 29%. The fastest-growing cost line was General & admin (+137%). Net earnings were $125.9M. The effective tax rate was 0.0%. Non-operating items added $137.8M, 109% of pre-tax earnings, so the bottom line overstates operating performance.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Sep 8, 2026 | $12.1M | -29% | -96.9% | $126M | — |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Apnimed
Apnimed is a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies that address the neurobiology of sleep-related breathing diseases. We believe the introduction of once-nightly oral drugs has the potential to expand diagnosis and the reach of treatment for people with OSA. We believe that people with OSA would benefit from having multiple treatment options with differing mechanisms to more fully address the heterogeneity of OSA’s disease pathophysiology. Apnimed envisions a new era where novel oral therapies simplify intervention and expand the reach of diagnosis and treatment.
In its own words, from its 8-K, filed Sep 8, 2026.
Apnimed against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -29% against the peers' median +7%. Operating margin: -96.9% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| APMD Apnimed | Q2 2026 | $12.1M | -29% | -96.9% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Apnimed 10-Q on SEC EDGAR · CIK 1745648 · Pharmaceutical Preparations
More on APMD
History
Every quarter: Q2 2026 results