Baird Medical (BDMD)
Makes microwave-ablation devices for liver and thyroid treatment.
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Sells proprietary microwave-ablation apparatus and needles for liver-cancer and thyroid-nodule treatment. Its operating base is in China, while the Nasdaq-listed holding group is expanding international commercialization through a distributor-led model.
Designs, develops, manufactures, and sells proprietary microwave-ablation (MWA) medical devices. Its clinical portfolio comprises MWA apparatus for liver cancer and thyroid nodules, alongside long and fine MWA needles. The revenue-generating business operates through a PRC research, manufacturing, and sales base.
The Cayman Islands-listed group also maintains entities in Hong Kong and the United States while expanding commercialization outside China. MWA apparatus and needles have Chinese registrations for the relevant liver-cancer and thyroid-nodule indications, plus stated FDA and Indonesian Drug Administration approval for soft-tissue ablation.
Sales depend materially on distributors, and operating results remain exposed to policy-driven procurement conditions in Mainland China.
Company facts
Categories
No analyst consensus on record.
Not reported.
Balance sheet, Dec 31, 2025Cash & short-term investments $178.3K · Total debt $19.3M · Total assets $69.7M · Shareholders' equity $31.4M
- Revenue
- $14.6M
- Operating income
- −$15.2M
- Net income
- −$16.0M
No dividends on record.
| Insiders3 holders · as of Apr 17, 2026 | 43.29% | 18.27M shares | |
| Strategic holders2 holders · as of Jul 31, 2026 | 21.32% | 9.00M shares | |
| Otherremainder | 35.39% | 14.94M shares |
42.21M company shares as of Aug 24, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Haimei WuInsiderdirector, 10 percent owner | 43.11% | 18.20M | Form 4filed Mar 27, 2026 ↗ |
ExcelFin SPAC LLC1Strategic10 percent owner | 16.59% | 7.00M | 13Dfiled Jul 31, 2026 ↗ |
Alta Partners LLCStrategic | 4.73% | 2.00M | 13Gfiled May 8, 2026 ↗ |
Joseph Douglas III RaganInsiderdirector | 0.14% | 57,180 | Form 4filed Mar 31, 2026 ↗ |
Gabrielle Bilciu-WolfsonInsiderdirector | 0.05% | 20,000 | Form 4filed Apr 17, 2026 ↗ |
- ExcelFin SPAC LLC's transaction reports restate only vehicles that traded; the 2026 ownership statement (7.00M) is used instead.
13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
Nothing filed in the last 12 months.
- Medtronic
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- Johnson & Johnson
NeuWave platform for soft-tissue and liver-lesion ablation
- AngioDynamics
Solero microwave system for soft-tissue ablation
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Baird Medical | $1.14 | 0.00% | $47.3M | — | — | 2.1 | — |
| Medtronic | $93.09 | +0.97% | $118.00B | 22.7 | 15.3 | 3.1 | +13.7% |
| Johnson & Johnson | $275.70 | +0.17% | $663.23B | 31.9 | 23.1 | 6.8 | +6.6% |
| AngioDynamics | $15.63 | −1.45% | $645.6M | — | — | 2.0 | +8.1% |
| Median | 27.3 | 19.2 | 3.1 | +8.1% |