Beta Bionics, Inc. Financials
This page shows Beta Bionics, Inc. (BBNX) financial statements, including the 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).
Rapid revenue scaling is being funded by fresh capital because operating losses still consume more cash than the business creates.
Across FY2023-FY2025, revenue expanded more than eightfold to$100.3M while gross margin held near55.0% . Yet the operating loss widened to-$71.7M because SG&A and R&D together reached$65.8M , which suggests the core product economics are steadier than the income statement headline and the real constraint is the cost of building commercial scale.
Gross profit reached
The FY2025 balance sheet looks liquid, with a current ratio of 8.7x and positive equity of
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 9.55, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($732.1M) 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.
For every $1 of reported earnings, Beta Bionics, Inc. generates $0.70 in operating cash flow (-$50.9M OCF vs -$73.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
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. generated -$56.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 8.8% from the prior year.
Beta Bionics, Inc. held $31.6M in cash against $0 in long-term debt as of fiscal year 2025.
Beta Bionics, Inc. had 44M shares outstanding in 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.
BBNX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.6M-14.0% | $32.1M+17.9% | $27.3M+17.3% | $23.2M+31.7% | $17.6M-13.7% | $20.4M+22.4% | $16.7M+11.0% | $15.0M |
| Cost of Revenue | $11.2M-15.1% | $13.2M+8.6% | $12.1M+13.0% | $10.7M+23.8% | $8.7M-0.9% | $8.8M+12.3% | $7.8M+11.9% | $7.0M |
| Gross Profit | $16.4M-13.2% | $18.9M+25.3% | $15.1M+20.9% | $12.5M+39.4% | $9.0M-23.3% | $11.7M+31.1% | $8.9M+10.3% | $8.1M |
| R&D Expenses | $10.4M+2.2% | $10.1M+23.6% | $8.2M-7.6% | $8.9M+16.9% | $7.6M-17.6% | $9.2M+79.2% | $5.1M-19.0% | $6.3M |
| SG&A Expenses | $9.6M+11.8% | $8.6M+8.6% | $7.9M+0.5% | $7.9M+19.0% | $6.6M+40.6% | $4.7M-7.8% | $5.1M+12.3% | $4.5M |
| Operating Income | -$24.3M-50.5% | -$16.1M+5.4% | -$17.0M+14.2% | -$19.9M-6.6% | -$18.6M-43.0% | -$13.0M-18.8% | -$11.0M+6.8% | -$11.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$21.9M-62.6% | -$13.5M+5.2% | -$14.2M+15.8% | -$16.9M+41.1% | -$28.7M-58.3% | -$18.1M-86.0% | -$9.7M+32.7% | -$14.5M |
| EPS (Diluted) | $-0.49 | N/A | $-0.33+15.4% | $-0.39+58.1% | $-0.93 | N/A | $-1.46+38.4% | $-2.37 |
BBNX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $304.4M-7.4% | $328.7M-0.4% | $330.0M0.0% | $330.0M-2.4% | $338.0M+125.9% | $149.6M | N/A | N/A |
| Current Assets | $248.0M-7.4% | $267.9M-0.8% | $270.0M-5.6% | $286.1M+9.2% | $261.9M+97.0% | $132.9M | N/A | N/A |
| Cash & Equivalents | $30.2M-4.3% | $31.6M-18.0% | $38.5M+9.7% | $35.1M-17.4% | $42.5M+39.5% | $30.4M+74.1% | $17.5M+34.2% | $13.0M |
| Inventory | $23.7M+9.2% | $21.7M+6.6% | $20.4M+17.6% | $17.3M+10.1% | $15.7M+18.1% | $13.3M | N/A | N/A |
| Accounts Receivable | $15.8M-8.0% | $17.1M+48.3% | $11.5M+1.3% | $11.4M+25.8% | $9.1M-24.5% | $12.0M | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $33.2M-19.4% | $41.1M+16.6% | $35.3M+24.5% | $28.3M+16.8% | $24.3M-93.9% | $395.0M | N/A | N/A |
| Current Liabilities | $23.2M-25.0% | $30.9M+21.8% | $25.4M+30.3% | $19.5M+18.2% | $16.5M-22.0% | $21.1M | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $271.2M-5.7% | $287.6M-2.4% | $294.8M-2.3% | $301.6M-3.9% | $313.8M+227.9% | -$245.4M-7.2% | -$228.8M-3.5% | -$221.2M |
| Retained Earnings | -$391.8M-5.9% | -$369.9M-3.8% | -$356.5M-4.2% | -$342.3M-5.2% | -$325.4M-9.7% | -$296.7M | N/A | N/A |
BBNX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$23.8M-176.2% | -$8.6M+1.2% | -$8.7M+35.8% | -$13.6M+31.9% | -$20.0M-39.9% | -$14.3M-48.5% | -$9.6M+21.4% | -$12.2M |
| Capital Expenditures | $1.4M-27.6% | $1.9M+48.4% | $1.3M-27.9% | $1.8M+434.2% | $333K-40.6% | $561K-70.8% | $1.9M+278.9% | $507K |
| Free Cash Flow | -$25.2M-139.4% | -$10.5M-5.2% | -$10.0M+34.9% | -$15.4M+24.3% | -$20.3M-36.8% | -$14.8M-28.7% | -$11.5M+9.5% | -$12.7M |
| Investing Cash Flow | $21.8M+3219.0% | $658K-93.1% | $9.5M+53.7% | $6.2M+103.4% | -$179.1M-503.9% | -$29.7M-294.6% | $15.2M+361.9% | $3.3M |
| Financing Cash Flow | $623K-41.2% | $1.1M-60.0% | $2.7M+6216.7% | $42K-100.0% | $211.1M+271.1% | $56.9M+4937.8% | -$1.2M-999.1% | -$107K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BBNX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.5%+0.5pp | 59.0%+3.5pp | 55.5%+1.7pp | 53.8%+2.9pp | 50.9%-6.3pp | 57.2%+3.8pp | 53.4%-0.4pp | 53.7% |
| Operating Margin | -87.9%-37.7pp | -50.2%+12.3pp | -62.5%+23.0pp | -85.5%+20.2pp | -105.7%-41.9pp | -63.8%+1.9pp | -65.7%+12.6pp | -78.3% |
| Net Margin | -79.3%-37.3pp | -41.9%+10.2pp | -52.1%+20.5pp | -72.6%+89.9pp | -162.5%-73.9pp | -88.6%-30.3pp | -58.3%+37.9pp | -96.1% |
| Return on Equity | -8.1%-3.4pp | -4.7%+0.1pp | -4.8%+0.8pp | -5.6%+3.5pp | -9.1% | N/A | N/A | N/A |
| Return on Assets | -7.2%-3.1pp | -4.1%+0.2pp | -4.3%+0.8pp | -5.1%+3.4pp | -8.5%+3.6pp | -12.1% | N/A | N/A |
| Current Ratio | 10.69+2.0 | 8.66-2.0 | 10.64-4.0 | 14.68-1.2 | 15.88+9.6 | 6.29 | N/A | N/A |
| Debt-to-Equity | 0.12-0.0 | 0.14+0.0 | 0.12+0.0 | 0.09+0.0 | 0.08+1.7 | -1.61 | N/A | N/A |
| FCF Margin | -91.3%-58.5pp | -32.8%+4.0pp | -36.7%+29.4pp | -66.1%+49.0pp | -115.1%-42.5pp | -72.6%-3.5pp | -69.0%+15.6pp | -84.7% |
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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) generated -$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) generated -$50.9M in operating cash flow during fiscal year 2025, representing cash generated from 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.
What is Beta Bionics, Inc.'s cash runway?
Based on fiscal year 2025 data, Beta Bionics, Inc. (BBNX) had $31.6M in cash against an annual operating cash burn of $50.9M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Beta Bionics, Inc.'s Altman Z-Score?
Beta Bionics, Inc. (BBNX) has an Altman Z-Score of 9.55, 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) has an earnings quality ratio of 0.70x, considered low quality (accrual-driven). 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 46 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.