Biocardia Inc Financials

BCDA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Biocardia Inc (BCDA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Financial Health Signals

Financial Profile 5/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Biocardia Inc has an operating margin of -13794.8%, meaning the company retains $-13795 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -2441.1% the prior year.

Growth

Biocardia Inc's revenue declined 87.8% year-over-year, from $477K to $58K. This contraction results in a growth score of 0/100.

Leverage

Biocardia Inc has elevated debt relative to equity (D/E of 3.45), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Biocardia Inc's current ratio of 1.13 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.

Cash Flow

While Biocardia Inc generated -$8.0M in operating cash flow, capex of $6K consumed most of it, leaving -$8.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Biocardia Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.01x

For every $1 of reported earnings, Biocardia Inc generates $1.01 in operating cash flow (-$8.0M OCF vs -$7.9M 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

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Revenue

$58K

YoY-87.8%

5Y CAGR-39.4%

Biocardia Inc generated $58K in revenue in fiscal year 2024. This represents a decrease of 87.8% from the prior year.

EBITDA

-$7.9M

YoY+31.4%

Biocardia Inc's EBITDA was -$7.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.4% from the prior year.

Free Cash Flow

-$8.0M

YoY+19.6%

Biocardia Inc generated -$8.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 19.6% from the prior year.

Net Income

-$7.9M

YoY+31.3%

Biocardia Inc reported -$7.9M in net income in fiscal year 2024. This represents an increase of 31.3% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$2.4M

YoY+115.0%

5Y CAGR-15.7%

10Y CAGR-2.9%

Biocardia Inc held $2.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+191.6%

Biocardia Inc had 5M shares outstanding in fiscal year 2024. This represents an increase of 191.6% from the prior year.

Gross Margin

N/A

Operating Margin

-13794.8%

YoY-11353.7pp

5Y CAGR-11793.0pp

Biocardia Inc's operating margin was -13794.8% in fiscal year 2024, reflecting core business profitability. This is down 11353.7 percentage points from the prior year.

Net Margin

-13700.0%

YoY-11274.2pp

5Y CAGR-11628.3pp

Biocardia Inc's net profit margin was -13700.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 11274.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$4.4M

YoY-43.2%

5Y CAGR-12.5%

Biocardia Inc invested $4.4M in research and development in fiscal year 2024. This represents a decrease of 43.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$6K

YoY-50.0%

5Y CAGR-47.2%

Biocardia Inc invested $6K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 50.0% from the prior year.

BCDA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$58K-87.8%	$477K-64.7%	$1.4M+33.2%	$1.0M+600.0%	$145K-79.6%	$710K
Cost of Revenue	N/A	N/A	N/A	$0-100.0%	$4K-98.9%	$358K
Gross Profit	N/A	N/A	N/A	$1.0M+619.9%	$141K-59.9%	$352K
R&D Expenses	$4.4M-43.2%	$7.7M-12.5%	$8.8M+3.2%	$8.6M-12.8%	$9.8M+14.6%	$8.6M
SG&A Expenses	$3.7M-16.5%	$4.4M-0.5%	$4.4M-13.1%	$5.1M-13.2%	$5.9M-2.4%	$6.0M
Operating Income	-$8.0M+31.3%	-$11.6M+2.2%	-$11.9M+5.8%	-$12.6M+18.7%	-$15.5M-9.3%	-$14.2M
Interest Expense	N/A	N/A	N/A	$0-100.0%	$3K-97.3%	$112K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$7.9M+31.3%	-$11.6M+2.8%	-$11.9M+5.7%	-$12.6M+15.9%	-$15.0M-2.0%	-$14.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$0	$0	$0	$0-100.0%	$3K-94.5%	$55K+323.1%	$13K-96.4%	$357K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$936K-31.6%	$1.4M-10.6%	$1.5M+8.1%	$1.4M+76.9%	$800K-35.5%	$1.2M+7.4%	$1.2M-38.2%	$1.9M
SG&A Expenses	$552K-19.2%	$683K-42.9%	$1.2M+32.0%	$906K+6.3%	$852K-21.8%	$1.1M+15.7%	$941K-13.1%	$1.1M
Operating Income	-$1.5M+27.5%	-$2.1M+24.8%	-$2.7M-17.4%	-$2.3M-40.8%	-$1.6M+27.5%	-$2.3M-9.2%	-$2.1M+19.8%	-$2.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	-$1.5M+27.6%	-$2.0M+24.4%	-$2.7M-18.1%	-$2.3M-39.5%	-$1.6M+27.4%	-$2.3M-9.4%	-$2.1M+19.5%	-$2.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BCDA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.7M+24.7%	$3.0M-69.5%	$9.8M-37.7%	$15.7M-32.9%	$23.4M+205.1%	$7.7M
Current Assets	$2.6M+79.5%	$1.5M-81.4%	$7.9M-41.7%	$13.5M-40.5%	$22.7M+255.3%	$6.4M
Cash & Equivalents	$2.4M+115.0%	$1.1M-85.0%	$7.4M-42.8%	$12.9M-39.9%	$21.4M+283.3%	$5.6M
Inventory	N/A	N/A	N/A	N/A	N/A	$4K
Accounts Receivable	$0-100.0%	$63K-68.7%	$201K+36.7%	$147K-36.6%	$232K+57.8%	$147K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.9M-37.1%	$4.6M-6.3%	$4.9M-8.3%	$5.3M+25.8%	$4.2M-20.0%	$5.3M
Current Liabilities	$2.3M-35.7%	$3.6M+0.6%	$3.6M-3.4%	$3.7M-12.6%	$4.2M+6.1%	$4.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$837K+152.2%	-$1.6M-132.8%	$4.9M-52.8%	$10.4M-45.9%	$19.2M+709.1%	$2.4M
Retained Earnings	-$160.1M-5.2%	-$152.2M-8.2%	-$140.6M-9.3%	-$128.7M-10.9%	-$116.1M-14.8%	-$101.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$6.1M+194.3%	$2.1M-3.6%	$2.2M-41.8%	$3.7M+28.9%	$2.9M+7.9%	$2.7M-10.3%	$3.0M-20.3%	$3.7M
Current Assets	$5.4M+347.5%	$1.2M+2.2%	$1.2M-55.3%	$2.6M+66.7%	$1.6M+24.9%	$1.3M-13.8%	$1.5M-31.0%	$2.1M
Cash & Equivalents	$5.3M+439.5%	$980K+3.3%	$949K-60.0%	$2.4M+66.9%	$1.4M+49.7%	$949K-14.0%	$1.1M-39.9%	$1.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$10K	N/A	$0-100.0%	$10K-82.8%	$58K-7.9%	$63K-39.4%	$104K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.5M-11.4%	$4.0M+7.8%	$3.7M+27.7%	$2.9M-40.5%	$4.9M-2.1%	$5.0M+7.9%	$4.6M+4.2%	$4.4M
Current Liabilities	$3.3M-9.1%	$3.6M+12.6%	$3.2M+39.3%	$2.3M-43.0%	$4.1M0.0%	$4.1M+12.8%	$3.6M+8.3%	$3.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.6M+239.3%	-$1.9M-24.1%	-$1.5M-281.6%	$837K+142.7%	-$2.0M+13.8%	-$2.3M-41.9%	-$1.6M-142.9%	-$660K
Retained Earnings	-$166.4M-0.9%	-$164.9M-1.3%	-$162.8M-1.7%	-$160.1M-2.6%	-$156.1M-1.1%	-$154.4M-1.5%	-$152.2M-1.4%	-$150.1M

BCDA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$8.0M+19.5%	-$10.0M+5.6%	-$10.6M-1.9%	-$10.4M+16.1%	-$12.4M-30.8%	-$9.4M
Capital Expenditures	$6K-50.0%	$12K-82.9%	$70K-39.7%	$116K+262.5%	$32K-78.1%	$146K
Free Cash Flow	-$8.0M+19.6%	-$10.0M+6.1%	-$10.6M-1.4%	-$10.5M+15.4%	-$12.4M-29.2%	-$9.6M
Investing Cash Flow	-$6K+50.0%	-$12K+82.9%	-$70K+39.7%	-$116K-262.5%	-$32K+78.1%	-$146K
Financing Cash Flow	$9.3M+149.6%	$3.7M-27.3%	$5.1M+163.1%	$1.9M-93.1%	$28.2M+187.3%	$9.8M
Dividends Paid	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

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$1.7M-1.4%	-$1.6M-1.9%	-$1.6M+37.1%	-$2.6M-96.1%	-$1.3M+14.2%	-$1.5M+17.3%	-$1.9M+23.3%	-$2.4M
Capital Expenditures	$0	N/A	N/A	$1K-66.7%	$3K	$0	$0	$0
Free Cash Flow	-$1.7M	N/A	N/A	-$2.6M-95.7%	-$1.3M+14.1%	-$1.5M+17.3%	-$1.9M+23.3%	-$2.4M
Investing Cash Flow	$0	N/A	N/A	-$1K+66.7%	-$3K	$0	$0	$0
Financing Cash Flow	$6.0M+255.7%	$1.7M+757.7%	$196K+1206.7%	$15K-99.2%	$1.8M+29.9%	$1.4M+23.0%	$1.1M+2029.3%	-$58K
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

BCDA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	100.0%+2.8pp	97.2%+47.7pp	49.6%
Operating Margin	-13794.8%-11353.7pp	-2441.1%-1560.8pp	-880.3%+364.1pp	-1244.3%+9465.3pp	-10709.7%-8707.8pp	-2001.8%
Net Margin	-13700.0%-11274.2pp	-2425.8%-1545.1pp	-880.7%+363.0pp	-1243.7%+9103.9pp	-10347.6%-8275.9pp	-2071.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-213.4%+174.0pp	-387.4%-265.8pp	-121.6%-41.3pp	-80.3%-16.3pp	-64.0%+127.5pp	-191.6%
Current Ratio	1.13+0.7	0.40-1.8	2.19-1.4	3.63-1.7	5.33+3.7	1.59
Debt-to-Equity	3.45+6.3	-2.86-3.9	1.00+0.5	0.52+0.3	0.22-2.0	2.24
FCF Margin	-13848.3%-11754.8pp	-2093.5%-1307.2pp	-786.3%+246.4pp	-1032.7%+7511.4pp	-8544.1%-7193.3pp	-1350.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-54966.7%-50830.3pp	-4136.4%+11894.4pp	-16030.8%-15303.0pp	-727.7%
Net Margin	N/A	N/A	N/A	N/A	-54866.7%-50744.8pp	-4121.8%+11816.6pp	-15938.5%-15217.4pp	-721.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-24.1%+74.0pp	-98.1%+27.1pp	-125.2%-63.6pp	-61.7%-4.7pp	-57.0%+27.7pp	-84.6%-15.2pp	-69.4%-0.7pp	-68.7%
Current Ratio	1.62+1.3	0.33-0.0	0.36-0.8	1.13+0.7	0.39+0.1	0.31-0.1	0.40-0.2	0.64
Debt-to-Equity	1.34+3.4	-2.11+0.3	-2.42-5.9	3.45+5.9	-2.47-0.3	-2.18+0.7	-2.86+3.8	-6.68
FCF Margin	N/A	N/A	N/A	N/A	-43833.3%-41051.5pp	-2781.8%+11456.6pp	-14238.5%-13562.8pp	-675.6%

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Frequently Asked Questions

What is Biocardia Inc's annual revenue?

Biocardia Inc (BCDA) reported $58K in total revenue for fiscal year 2024. This represents a -87.8% 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 Biocardia Inc's revenue growing?

Biocardia Inc (BCDA) revenue declined by 87.8% year-over-year, from $477K to $58K in fiscal year 2024.

Is Biocardia Inc profitable?

No, Biocardia Inc (BCDA) reported a net income of -$7.9M in fiscal year 2024, with a net profit margin of -13700.0%.

What is Biocardia Inc's EBITDA?

Biocardia Inc (BCDA) had EBITDA of -$7.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Biocardia Inc's operating margin?

Biocardia Inc (BCDA) had an operating margin of -13794.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Biocardia Inc's net profit margin?

Biocardia Inc (BCDA) had a net profit margin of -13700.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Biocardia Inc's free cash flow?

Biocardia Inc (BCDA) generated -$8.0M in free cash flow during fiscal year 2024. This represents a 19.6% 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 Biocardia Inc's operating cash flow?

Biocardia Inc (BCDA) generated -$8.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Biocardia Inc's total assets?

Biocardia Inc (BCDA) had $3.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Biocardia Inc's capital expenditures?

Biocardia Inc (BCDA) invested $6K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Biocardia Inc spend on research and development?

Biocardia Inc (BCDA) invested $4.4M in research and development during fiscal year 2024.

How many shares does Biocardia Inc have outstanding?

Biocardia Inc (BCDA) had 5M shares outstanding as of fiscal year 2024.

What is Biocardia Inc's current ratio?

Biocardia Inc (BCDA) had a current ratio of 1.13 as of fiscal year 2024, which is considered adequate.

What is Biocardia Inc's debt-to-equity ratio?

Biocardia Inc (BCDA) had a debt-to-equity ratio of 3.45 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Biocardia Inc's return on assets (ROA)?

Biocardia Inc (BCDA) had a return on assets of -213.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Biocardia Inc's cash runway?

Based on fiscal year 2024 data, Biocardia Inc (BCDA) had $2.4M in cash against an annual operating cash burn of $8.0M. This gives an estimated cash runway of approximately 4 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 Biocardia Inc's Piotroski F-Score?

Biocardia Inc (BCDA) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Biocardia Inc's earnings high quality?

Biocardia Inc (BCDA) has an earnings quality ratio of 1.01x, 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 Biocardia Inc?

Biocardia Inc (BCDA) scores 5 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.