Bioatla, Inc. Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 1, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BCAB SEC filings page.
This page shows Bioatla, Inc. (BCAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
BioAtla’s reported profile is a shrinking development operation: lower spending and cash use coexist with weakening liquidity and negative equity.
From FY2023 to FY2025, operating loss narrowed from-$129.7M to-$59.3M while operating cash flow improved from-$104.0M to-$48.2M , indicating spending reductions—not commercial scale—drove much of the improvement. Yet reported net income remained positive at$59.6M in FY2025 while operating cash flow was-$48.2M , so earnings are not tracking the cash economics of the ongoing operation.
The only reported revenue figure is
At FY2025, the current ratio was 0.4x and equity was negative at
Financial Health Signals
Bioatla, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Bioatla, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Bioatla, Inc. used $0.81 of operating cash (-$48.2M OCF vs $59.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Bioatla, Inc.'s EBITDA was $227K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 101.2% from the same quarter a year earlier. Against the prior quarter it is up 102.5%.
Bioatla, Inc. reported $452K in net income in Q2 2026. This represents an increase of 102.4% from the same quarter a year earlier. Against the prior quarter it is up 107.1%.
Bioatla, Inc. earned $0.27 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 106.4%.
Not reported for Q2 2026.
Cash & Balance Sheet
Bioatla, Inc. held $1.5M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Bioatla, Inc. invested $3.3M in research and development in Q2 2026. This represents a decrease of 75.6% from the same quarter a year earlier. Against the prior quarter it is down 27.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BCAB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $3.3M-75.6% | $4.6M-62.9% | N/A | $9.5M-41.8% | $13.7M-15.5% | $12.4M-34.5% | N/A | $16.4M-42.3% |
| SG&A Expenses | $2.9M-40.9% | $4.7M-10.1% | N/A | $4.3M-27.7% | $5.0M-14.0% | $5.3M-6.2% | N/A | $5.9M-11.3% |
| Operating Income | $227K+101.2% | -$9.3M+47.2% | N/A | -$13.8M-22.4% | -$18.6M+15.1% | -$17.6M+28.0% | N/A | -$11.3M+67.8% |
| EBITDA | $227K+101.2% | -$9.2M+47.3% | N/A | -$13.7M-24.4% | -$18.5M+14.8% | -$17.4M+28.0% | N/A | -$11.0M+68.2% |
| Net Income | $452K+102.4% | -$6.3M+58.6% | N/A | -$15.8M-49.0% | -$18.7M+11.2% | -$15.3M+34.0% | N/A | -$10.6M+68.2% |
| EPS (Basic) | $0.27+101.7% | -$4.22+67.9% | -$0.16+46.7% | -$0.27-22.7% | -$15.99-3534.1% | -$13.16-2641.7% | -$0.30+46.4% | -$0.22+68.6% |
| EPS (Diluted) | $0.27 | -$4.22 | -$0.16 | -$0.27-22.7% | -$15.99 | -$13.16 | -$0.30+46.4% | -$0.22+68.6% |
| Diluted Shares (Avg) | 2M | 2M | N/A | 59M+21.5% | 1M | 1M | N/A | 48M+1.0% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
BCAB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.5M-65.0% | $8.6M-77.6% | $13.8M-73.6% | $15.9M-74.4% | $27.1M-60.5% | $38.3M-57.1% | $52.4M-56.2% | $62.2M-58.9% |
| Current Assets | $4.3M-79.3% | $3.1M-91.8% | $8.0M-84.4% | $9.7M-84.0% | $20.6M-69.0% | $37.5M-56.6% | $51.2M-56.0% | $60.6M-58.9% |
| Cash & Equivalents | $1.5M-91.5% | $2.0M-93.9% | $7.1M-85.5% | $8.3M-85.3% | $18.2M-70.5% | $32.4M-59.9% | $49.0M-56.0% | $56.5M-60.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $2.0M | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $45.7M+4.3% | $45.9M+21.5% | $50.0M+31.1% | $47.1M+20.1% | $43.9M+17.7% | $37.7M-4.4% | $38.2M-22.1% | $39.3M-30.7% |
| Current Liabilities | $21.0M+26.6% | $20.7M+29.3% | $21.9M+50.8% | $18.0M-7.6% | $16.6M-4.9% | $16.0M-16.9% | $14.5M-48.7% | $19.5M-45.3% |
| Non-Current Liabilities | $24.7M-9.4% | $25.2M+15.9% | $28.1M+19.0% | $29.2M+47.2% | $27.3M+37.7% | $21.7M+7.5% | $23.6M+14.4% | $19.8M-5.9% |
| Total Equity | -$36.2M-116.4% | -$37.3M-6920.7% | -$36.2M-353.7% | -$31.2M-236.0% | -$16.7M-153.4% | $547K-98.9% | $14.3M-79.8% | $23.0M-75.7% |
| Retained Earnings | -$551.5M-6.0% | -$552.0M-10.1% | -$545.6M-12.3% | -$535.9M-13.7% | -$520.1M-12.9% | -$501.4M-14.1% | -$486.0M-16.8% | -$471.2M-21.0% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
BCAB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$419K+97.0% | -$5.3M+67.7% | -$7.9M+52.8% | -$9.9M-92.5% | -$14.1M+26.4% | -$16.3M+47.2% | -$16.8M+43.9% | -$5.1M+81.2% |
| Depreciation & Amortization | $0-100.0% | $120K-34.4% | $19K-91.7% | $56K-75.4% | $115K-49.8% | $183K-23.8% | $228K-38.0% | $228K-15.6% |
| Stock-Based Compensation | $619K-55.0% | $956K-41.9% | N/A | $1.3M-41.1% | $1.4M-44.8% | $1.6M-28.5% | N/A | $2.2M-37.6% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $0 | $0+100.0% | $0+100.0% |
| Financing Cash Flow | $2K+105.6% | $110K+127.8% | $6.7M-27.9% | -$6K+57.1% | -$36K-116.0% | -$395K-2938.5% | $9.3M+7726.1% | -$14K+65.9% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
BCAB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | N/A | N/A | N/A | N/A | -2803.3%-2756.6pp | N/A | -46.1%-10.9pp |
| Return on Assets | 4.8%+73.7pp | -74.1%-34.0pp | N/A | -99.2%-82.2pp | -69.0%-38.3pp | -40.1%-14.0pp | N/A | -17.0%+5.0pp |
| Current Ratio | 0.20-1.0x | 0.15-2.2x | 0.37-3.2x | 0.54-2.6x | 1.24-2.6x | 2.35-2.1x | 3.52-0.6x | 3.11-1.0x |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 69.00+68.2x | 2.67+2.0x | 1.71+1.1x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$36.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.37), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Bioatla, Inc. BCAB | FY2025 | N/A | $59.6M | N/A | $1.8M | — |
| Plus Therapeutics Inc PSTV | FY2025 | $5.2M | -$22.4M | N/A | $26.6M | 32/100 |
| Century Therapeutics, Inc. IPSC | FY2025 | $109.2M | -$9.6M | -8.8% | $367.6M | 58/100 |
| Tempest Therapeutics Inc TPST | FY2025 | N/A | -$26.3M | N/A | $17.4M | — |
| Renovorx Inc RNXT | FY2025 | $1.1M | -$11.2M | N/A | $95.2M | 25/100 |
| PepGen Inc PEPG | FY2025 | N/A | -$89.7M | N/A | $216.1M | — |
Where Bioatla, Inc. Ranks
Frequently Asked Questions
Is Bioatla, Inc. profitable?
Yes, Bioatla, Inc. (BCAB) reported a net income of $59.6M in fiscal year 2025.
What is Bioatla, Inc.'s EBITDA?
Bioatla, Inc. (BCAB) had EBITDA of -$58.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Bioatla, Inc.'s operating cash flow?
Bioatla, Inc. (BCAB) recorded an outflow of $48.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Bioatla, Inc.'s total assets?
Bioatla, Inc. (BCAB) had $13.8M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Bioatla, Inc. spend on research and development?
Bioatla, Inc. (BCAB) invested $43.6M in research and development during fiscal year 2025.
What is Bioatla, Inc.'s current ratio?
Bioatla, Inc. (BCAB) had a current ratio of 0.37 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Bioatla, Inc.'s return on assets (ROA)?
Bioatla, Inc. (BCAB) had a return on assets of 431.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bioatla, Inc.'s P/E ratio?
Bioatla, Inc. (BCAB) trades at 0.0x earnings, its market capitalization divided by net income of $59.6M net income, FY2025. The market capitalization is $1.8M as of Sep 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bioatla, Inc.'s price-to-sales ratio?
Bioatla, Inc. (BCAB) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.8M as of Sep 1, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Bioatla, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Bioatla, Inc. (BCAB) held $7.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $48.2M over that year. Dividing the one by the other, the reported balance equals about 2 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.
Why is Bioatla, Inc.'s debt-to-equity ratio negative or not reported?
Bioatla, Inc. (BCAB) has negative shareholder equity of -$36.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Bioatla, Inc.'s Piotroski F-Score?
Bioatla, Inc. (BCAB) has a Piotroski F-Score of 3 out of 6 computable signals; 3 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 Bioatla, Inc.'s earnings high quality?
For every $1 of reported earnings, Bioatla, Inc. (BCAB) used $0.81 of operating cash (-$48.2M OCF vs $59.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.