Beta Bionics, Inc. Financials
Beta Bionics, Inc. (BBNX) reported $100.3M in revenue for fiscal year 2025, up 53.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Gross-profit growth is being absorbed by operating investment, leaving scale without operating leverage despite a stronger financing base.
Revenue expanded sharply through FY2025 while gross margin held at55.4% ; however, operating losses remained deeply negative, indicating that scale has not yet translated into operating leverage. The company is generating more gross profit, but increased commercial and development spending is absorbing it before it reaches operating income.
Operating spending exceeded gross profit: SG&A and R&D together totaled
Financing reshaped the balance sheet: FY2025 financing provided
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Beta Bionics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Beta Bionics, Inc. scores 11.57, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($870.1M) relative to total liabilities ($41.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Beta Bionics, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Beta Bionics, Inc. reported a net loss of $73.2M while operations used $50.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Beta Bionics, Inc. generated $100.3M in revenue in fiscal year 2025. This represents an increase of 53.9% from the prior year.
Beta Bionics, Inc.'s EBITDA was -$70.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 59.0% from the prior year.
Beta Bionics, Inc. reported -$73.2M in net income in fiscal year 2025. This represents a decrease of 33.7% from the prior year.
Cash & Balance Sheet
Beta Bionics, Inc. recorded an outflow of $56.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 8.8% from the prior year.
Beta Bionics, Inc. held $31.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Beta Bionics, Inc.'s gross margin was 55.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.
Beta Bionics, Inc.'s operating margin was -71.5% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.
Beta Bionics, Inc.'s net profit margin was -73.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.1 percentage points from the prior year.
Beta Bionics, Inc.'s ROE was -25.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Beta Bionics, Inc. invested $34.8M in research and development in fiscal year 2025. This represents an increase of 32.9% from the prior year.
Beta Bionics, Inc. invested $5.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 56.0% from the prior year.
Not reported for fiscal year 2025.
BBNX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Revenue | $119.0M | $100.3M+53.9% | $65.1M+442.9% | $12.0M |
| Cost of Revenue | $49.6M | $44.7M+52.9% | $29.2M+414.1% | $5.7M |
| Gross Profit | $69.4M | $55.5M+54.8% | $35.9M+468.9% | $6.3M |
| R&D Expenses | $38.9M | $34.8M+32.9% | $26.2M+45.9% | $17.9M |
| SG&A Expenses | $35.7M | $31.0M+73.6% | $17.9M+46.2% | $12.2M |
| Operating Income | -$83.0M | -$71.7M-58.4% | -$45.3M-26.2% | -$35.9M |
| Income Tax | N/A | $0 | $0 | N/A |
| Net Income | -$73.0M | -$73.2M-33.7% | -$54.8M-24.2% | -$44.1M |
| EPS (Diluted) | — | -$1.81 | -$8.60-3.5% | -$8.31 |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BBNX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Assets | $328.7M+119.7% | $149.6M+36.0% | $110.0M |
| Current Assets | $267.9M+101.5% | $132.9M+28.3% | $103.6M |
| Cash & Equivalents | $31.6M+3.8% | $30.4M+14.6% | $26.6M |
| Inventory | $21.7M+63.1% | $13.3M+969.9% | $1.2M |
| Accounts Receivable | $17.1M+42.7% | $12.0M+169.7% | $4.4M |
| Total Liabilities | $41.1M-89.6% | $395.0M+26.1% | $313.1M |
| Current Liabilities | $30.9M+46.2% | $21.1M+99.4% | $10.6M |
| Total Equity | $287.6M+217.2% | -$245.4M-20.8% | -$203.1M |
| Retained Earnings | -$369.9M-24.7% | -$296.7M-29.2% | -$229.7M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
BBNX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Operating Cash Flow | -$55.8M | -$50.9M-5.5% | -$48.3M-48.8% | -$32.4M |
| Capital Expenditures | $5.6M | $5.3M+56.0% | $3.4M+744.5% | $402K |
| Free Cash Flow | -$61.4M | -$56.2M-8.8% | -$51.7M-57.3% | -$32.8M |
| Investing Cash Flow | $58.9M | -$162.8M-4583.7% | -$3.5M+95.0% | -$69.7M |
| Financing Cash Flow | $6.1M | $214.9M+286.4% | $55.6M-45.0% | $101.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BBNX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Gross Margin | 55.4%+0.3pp | 55.1%+2.5pp | 52.6% |
| Operating Margin | -71.5%-2.0pp | -69.5% | -298.9% |
| Net Margin | -73.0%+11.1pp | -84.1% | -367.6% |
| Return on Equity | -25.4% | N/A | N/A |
| Return on Assets | -22.3%+14.3pp | -36.6%+3.5pp | -40.1% |
| Current Ratio | 8.66+2.4x | 6.29-3.5x | 9.77 |
| Debt-to-Equity | 0.14 | N/A | N/A |
| FCF Margin | -56.1%+23.3pp | -79.3% | -273.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Beta Bionics, Inc. Ranks
Frequently Asked Questions
What is Beta Bionics, Inc.'s annual revenue?
Beta Bionics, Inc. (BBNX) reported $100.3M in total revenue for fiscal year 2025. This represents a 53.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Beta Bionics, Inc.'s revenue growing?
Beta Bionics, Inc. (BBNX) revenue grew by 53.9% year-over-year, from $65.1M to $100.3M in fiscal year 2025.
Is Beta Bionics, Inc. profitable?
No, Beta Bionics, Inc. (BBNX) reported a net income of -$73.2M in fiscal year 2025, with a net profit margin of -73.0%.
What is Beta Bionics, Inc.'s EBITDA?
Beta Bionics, Inc. (BBNX) had EBITDA of -$70.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Beta Bionics, Inc.'s gross margin?
Beta Bionics, Inc. (BBNX) had a gross margin of 55.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Beta Bionics, Inc.'s operating margin?
Beta Bionics, Inc. (BBNX) had an operating margin of -71.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Beta Bionics, Inc.'s net profit margin?
Beta Bionics, Inc. (BBNX) had a net profit margin of -73.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Beta Bionics, Inc.'s return on equity (ROE)?
Beta Bionics, Inc. (BBNX) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Beta Bionics, Inc.'s free cash flow?
Beta Bionics, Inc. (BBNX) recorded an outflow of $56.2M in free cash flow during fiscal year 2025. This represents a -8.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Beta Bionics, Inc.'s operating cash flow?
Beta Bionics, Inc. (BBNX) recorded an outflow of $50.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Beta Bionics, Inc.'s total assets?
Beta Bionics, Inc. (BBNX) had $328.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Beta Bionics, Inc.'s capital expenditures?
Beta Bionics, Inc. (BBNX) invested $5.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Beta Bionics, Inc. spend on research and development?
Beta Bionics, Inc. (BBNX) invested $34.8M in research and development during fiscal year 2025.
What is Beta Bionics, Inc.'s current ratio?
Beta Bionics, Inc. (BBNX) had a current ratio of 8.66 as of fiscal year 2025, which is generally considered healthy.
What is Beta Bionics, Inc.'s debt-to-equity ratio?
Beta Bionics, Inc. (BBNX) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Beta Bionics, Inc.'s return on assets (ROA)?
Beta Bionics, Inc. (BBNX) had a return on assets of -22.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Beta Bionics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Beta Bionics, Inc. (BBNX) held $264.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $50.9M over that year. Dividing the one by the other, the reported balance equals about 62 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Beta Bionics, Inc.'s Altman Z-Score?
Beta Bionics, Inc. (BBNX) has an Altman Z-Score of 11.57, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Beta Bionics, Inc.'s Piotroski F-Score?
Beta Bionics, Inc. (BBNX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Beta Bionics, Inc.'s earnings high quality?
Beta Bionics, Inc. (BBNX) reported a net loss of $73.2M while operations used $50.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Beta Bionics, Inc.?
Beta Bionics, Inc. (BBNX) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.