Bicara Therapeutics Inc. (BCAX) 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 Oct 16, 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 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BCAX SEC filings page.
This page shows Bicara Therapeutics Inc. (BCAX) 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).
Bicara is an equity-funded development business where cash losses are accelerating and investment spending is becoming a larger use of capital.
The gap between FY2025 net loss of$138M and operating cash outflow of$106.8M is relatively narrow, so reported losses are translating into cash needs rather than being mainly non-cash accounting charges. That burden was joined by$318.5M of investing outflow, a sharp change from the prior year, helping explain the shift in the asset base despite continued financing.
The balance sheet is lightly liability-funded: FY2025 liabilities were
This is structurally development-stage economics rather than a revenue-margin story: FY2024 R&D was
Financial Health Signals
Bicara Therapeutics 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.
Bicara Therapeutics Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Bicara Therapeutics Inc. reported a net loss of $137.9M while operations used $106.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Bicara Therapeutics Inc.'s EBITDA was -$59.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 87.2% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
Bicara Therapeutics Inc. reported -$55.4M in net income in Q2 2026. This represents a decrease of 102.4% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.
Bicara Therapeutics Inc. earned -$0.82 per diluted share (EPS) in Q2 2026. This represents a decrease of 64.0% from the same quarter a year earlier. Against the prior quarter it is up 11.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Bicara Therapeutics Inc. recorded an outflow of $44.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 73.0% from the same quarter a year earlier. Against the prior quarter it is down 17.8%.
Bicara Therapeutics Inc. held $96.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Bicara Therapeutics Inc.'s ROE was -11.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Bicara Therapeutics Inc. invested $60K in capex in Q2 2026, funding long-term assets and infrastructure. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Not reported for Q2 2026.
BCAX 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 | N/A | N/A | N/A | $33.0M+107.5% | $24.8M+57.0% | $34.3M+185.8% | N/A | $15.9M+130.4% |
| SG&A Expenses | $14.2M+96.4% | $12.7M+70.9% | N/A | $7.7M+61.6% | $7.2M+84.7% | $7.5M+123.1% | N/A | $4.8M+83.9% |
| Operating Income | -$60.0M-87.2% | -$60.2M-44.2% | N/A | -$40.7M-97.2% | -$32.0M-62.1% | -$41.8M-171.8% | N/A | -$20.6M-116.5% |
| EBITDA | -$59.9M-87.2% | -$60.2M-44.1% | N/A | -$40.7M-97.2% | -$32.0M-62.1% | -$41.8M-171.9% | N/A | -$20.6M |
| Income Tax | $61K+17.3% | $52K-27.8% | N/A | $40K | $52K | $72K+7100.0% | N/A | $0 |
| Net Income | -$55.4M-102.4% | -$56.2M-52.6% | N/A | -$36.3M-107.8% | -$27.4M-60.6% | -$36.8M-194.6% | N/A | -$17.5M+23.5% |
| EPS (Basic) | -$0.82-64.0% | -$0.93-36.8% | -$0.68-109.4% | -$0.67+58.1% | -$0.50+97.4% | -$0.68+96.4% | $7.22+137.2% | -$1.60+95.8% |
| EPS (Diluted) | -$0.82-64.0% | -$0.93-36.8% | -$0.68-109.4% | -$0.67 | -$0.50 | -$0.68 | $7.22 | -$1.60 |
| Diluted Shares (Avg) | 68M+24.5% | 61M+11.5% | N/A | 55M | 55M | 54M | N/A | 11M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
BCAX 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 | $512.2M+12.9% | $553.6M+15.8% | $431.0M-15.5% | $424.7M-19.0% | $453.6M | $478.1M | $510.0M+118.0% | $524.2M |
| Current Assets | $503.8M+13.4% | $544.9M+15.8% | $422.1M-16.0% | $297.4M-43.0% | $444.4M | $470.8M | $502.5M+117.5% | $521.5M |
| Cash & Equivalents | $96.6M-77.9% | $323.5M-30.0% | $96.7M-80.3% | $171.7M-67.0% | $436.6M+114.2% | $462.1M+113.9% | $489.7M+112.5% | $520.8M+1077.9% |
| Short-Term Investments | $400.7M | $216.3M | $318.1M | $118.5M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $117.4M | $0 | $0 | $0 | $0 |
| Total Liabilities | $43.5M+136.4% | $39.6M+107.3% | $29.5M+63.0% | $21.9M+49.9% | $18.4M | $19.1M | $18.1M-95.3% | $14.6M |
| Current Liabilities | $43.5M+152.4% | $39.3M+105.8% | $28.9M+60.9% | $21.0M+45.2% | $17.2M | $19.1M | $18.0M+19.3% | $14.5M |
| Non-Current Liabilities | $0-100.0% | $301K | $593K+352.7% | $880K+542.3% | $1.2M | $0 | $131K-100.0% | $137K |
| Total Equity | $468.8M+7.7% | $514.0M+12.0% | $401.5M-18.4% | $402.8M-21.0% | $435.2M+349.0% | $459.0M+386.7% | $491.9M+430.6% | $509.6M+471.6% |
| Retained Earnings | -$470.6M-65.0% | -$415.2M-61.0% | -$359.0M-62.4% | -$321.6M-60.7% | -$285.3M | -$257.9M | -$221.0M-44.4% | -$200.1M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
BCAX 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 | -$44.2M-72.7% | -$37.5M-33.5% | -$23.9M+20.5% | -$29.2M-69.8% | -$25.6M-98.3% | -$28.1M-92.7% | -$30.0M-273.7% | -$17.2M |
| Depreciation & Amortization | $44K+131.6% | $44K+131.6% | $43K+186.7% | $24K+60.0% | $19K+46.2% | $19K+46.2% | $15K+7.1% | $15K |
| Stock-Based Compensation | $8.2M+135.9% | $5.9M+69.7% | N/A | $3.6M+77.9% | $3.5M+236.4% | $3.5M+200.9% | N/A | $2.0M+291.3% |
| Capital Expenditures | $60K | $60K | $238K+495.0% | $42K+425.0% | $0-100.0% | $0-100.0% | $40K-90.8% | $8K |
| Free Cash Flow | -$44.3M-73.0% | -$37.6M-33.7% | -$24.1M+19.8% | -$29.3M-70.0% | -$25.6M-98.0% | -$28.1M-92.6% | -$30.1M-255.0% | -$17.2M |
| Investing Cash Flow | -$185.0M | $100.9M | -$82.3M-205730.0% | -$236.1M-2951412.5% | $0+100.0% | $0-100.0% | -$40K+90.8% | -$8K |
| Financing Cash Flow | $2.3M+1627.4% | $163.3M+35409.8% | $31.2M+3303.1% | $436K-99.9% | $135K-81.6% | $460K+235.8% | -$975K-100.5% | $334.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BCAX 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 | -11.8%-5.5pp | -10.9%-2.9pp | N/A | -9.0%-5.6pp | -6.3% | -8.0% | N/A | -3.4% |
| Return on Assets | -10.8%-4.8pp | -10.2%-2.4pp | N/A | -8.6%-5.2pp | -6.0% | -7.7% | N/A | -3.3% |
| Current Ratio | 11.59-14.2x | 13.85-10.8x | 14.58-13.4x | 14.14-21.9x | 25.80 | 24.62 | 27.93+12.6x | 36.01 |
| Debt-to-Equity | 0.09+0.1x | 0.080.0x | 0.070.0x | 0.050.0x | 0.04 | 0.04 | 0.04 | 0.03 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Bicara Therapeutics Inc. BCAX | FY2025 | N/A | -$137.9M | N/A | $1.2B | — |
| Tyra Biosciences, Inc. TYRA | FY2025 | N/A | -$119.9M | N/A | $1.3B | — |
| Rigel Pharmaceuticals Inc. (New) RIGL | FY2025 | $294.3M | $367.0M | N/A | $882.6M | 62/100 |
| Terns Pharmaceuticals, Inc. TERN | FY2025 | N/A | -$96.2M | N/A | $6.1B | — |
| AnaptysBio, Inc. ANAB | FY2025 | $234.6M | -$13.2M | -5.6% | $1.5B | 80/100 |
| Palvella Therapeutics, Inc. PVLA | FY2025 | N/A | -$41.7M | N/A | $1.8B | — |
Where Bicara Therapeutics Inc. Ranks
Frequently Asked Questions
Is Bicara Therapeutics Inc. profitable?
No, Bicara Therapeutics Inc. (BCAX) reported a net income of -$137.9M in fiscal year 2025.
What is Bicara Therapeutics Inc.'s EBITDA?
Bicara Therapeutics Inc. (BCAX) had EBITDA of -$155.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Bicara Therapeutics Inc.'s return on equity (ROE)?
Bicara Therapeutics Inc. (BCAX) has a return on equity of -34.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Bicara Therapeutics Inc.'s free cash flow?
Bicara Therapeutics Inc. (BCAX) recorded an outflow of $107.1M in free cash flow during fiscal year 2025. This represents a -43.2% 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 Bicara Therapeutics Inc.'s operating cash flow?
Bicara Therapeutics Inc. (BCAX) recorded an outflow of $106.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Bicara Therapeutics Inc.'s total assets?
Bicara Therapeutics Inc. (BCAX) had $431.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Bicara Therapeutics Inc.'s capital expenditures?
Bicara Therapeutics Inc. (BCAX) invested $280K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Bicara Therapeutics Inc.'s current ratio?
Bicara Therapeutics Inc. (BCAX) had a current ratio of 14.58 as of fiscal year 2025, which is generally considered healthy.
What is Bicara Therapeutics Inc.'s debt-to-equity ratio?
Bicara Therapeutics Inc. (BCAX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bicara Therapeutics Inc.'s return on assets (ROA)?
Bicara Therapeutics Inc. (BCAX) had a return on assets of -32.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bicara Therapeutics Inc.'s P/E ratio?
Bicara Therapeutics Inc. (BCAX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.2B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bicara Therapeutics Inc.'s price-to-sales ratio?
Bicara Therapeutics Inc. (BCAX) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.2B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Bicara Therapeutics Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Bicara Therapeutics Inc. (BCAX) held $414.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $106.8M over that year. Dividing the one by the other, the reported balance equals about 47 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 Bicara Therapeutics Inc.'s Piotroski F-Score?
Bicara Therapeutics Inc. (BCAX) has a Piotroski F-Score of 1 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 Bicara Therapeutics Inc.'s earnings high quality?
Bicara Therapeutics Inc. (BCAX) reported a net loss of $137.9M while operations used $106.8M 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.