Biovie Inc Financials
This page shows Biovie Inc (BIVI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
BioVie’s core mechanic is funding a recurring research cash burn with fresh capital rather than commercial revenue.
From FY2024 through FY2026, operating cash flow stayed close to-$19.0M a year while cash reserves fell from$23.8M to$9.0M , even after roughly$28.3M of financing inflows. That combination shows the company is supporting a fairly steady annual spending base, so liquidity depends on periodic external funding rather than a one-time expense reset.
The business behaves like a development-stage platform: FY2026 net loss of
Expense mix shows where management can and cannot flex. R&D spending fell from
Financial Health Signals
Biovie 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.
Biovie 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).
Biovie Inc reported a net loss of $22.1M while operations used $19.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Biovie Inc reported an operating loss of $22.7M against $18K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Biovie Inc reported -$22.1M in net income in fiscal year 2026. This represents a decrease of 25.8% from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Cash & Balance Sheet
Biovie Inc held $9.0M in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Biovie Inc's ROE was -214.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 122.7 percentage points from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Capital Allocation
Biovie Inc invested $14.0M in research and development in fiscal year 2026. This represents an increase of 50.7% from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
BIVI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $14.0M+50.7% | $9.3M-59.9% | $23.1M-30.6% | $33.3M+92.9% | $17.3M+578.2% | $2.5M+121.2% | $1.2M+14.1% | $1.0M+171.8% | $371K-20.5% | $466K+1130.5% | $38K+803.3% | $4K-91.5% | $49K | $49K |
| SG&A Expenses | $8.5M-0.7% | $8.6M-3.2% | $8.8M-23.4% | $11.6M+18.3% | $9.8M+110.6% | $4.6M+253.2% | $1.3M+4.3% | $1.3M-28.9% | $1.8M+2463.5% | $69K+351.2% | $15K-7.0% | $16K-36.4% | $26K | $117K |
| Operating Income | -$22.7M-25.4% | -$18.1M+43.9% | -$32.2M+28.6% | -$45.1M-65.4% | -$27.3M | N/A | -$2.7M-7.9% | -$2.5M-5.2% | -$2.4M-52.7% | -$1.6M-259.6% | -$432K-85.1% | -$233K | N/A | N/A |
| Interest Expense | $18K-94.6% | $333K-88.5% | $2.9M-32.7% | $4.3M+98.8% | $2.2M+286.6% | $559K-88.3% | $4.8M+1748042.5% | $273-99.3% | $41K | N/A | $81 | N/A | N/A | N/A |
| Net Income | -$22.1M-25.8% | -$17.5M+45.4% | -$32.1M+36.1% | -$50.3M-92.7% | -$26.1M | N/A | N/A | -$2.4M-0.4% | -$2.4M-82.9% | -$1.3M-208.1% | -$432K-85.4% | -$233K+27.6% | -$322K | -$166K |
| EPS (Diluted) | -$3.05 | -$12.12 | -$73.05 | -$15.47 | -$1.06+92.8% | -$14.82 | -$6.85-599.0% | -$0.98 | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
BIVI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.3M-33.9% | $21.6M-14.5% | $25.2M-28.2% | $35.1M+74.5% | $20.1M+232.7% | $6.0M+190.2% | $2.1M-19.1% | $2.6M+18.3% | $2.2M-8.0% | $2.4M-13.1% | $2.7M+909.0% | $269K-19.0% | $333K | $360K |
| Current Assets | $13.6M-34.1% | $20.7M-13.9% | $24.0M-29.4% | $34.0M+81.3% | $18.8M+307.8% | $4.6M+1015.1% | $413K-38.7% | $674K+1371.8% | $46K+791.1% | $5K-96.1% | $131K-51.5% | $269K-19.0% | $333K | $360K |
| Cash & Equivalents | $9.0M-48.8% | $17.5M-26.4% | $23.8M+22.5% | $19.5M+4.4% | $18.6M+313.2% | $4.5M+12029.7% | $37K-89.1% | $340K+642.2% | $46K+791.1% | $5K-95.8% | $124K-53.7% | $267K-19.6% | $333K | $345K |
| Goodwill | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K0.0% | $346K | N/A | N/A | N/A |
| Total Liabilities | $4.0M+56.1% | $2.6M-73.7% | $9.7M-50.9% | $19.8M+20.2% | $16.4M+1550.4% | $996K-95.8% | $23.6M+5217.6% | $443K-78.5% | $2.1M+71.0% | $1.2M+50.3% | $803K+148.2% | $324K+100.4% | $161K | $3K |
| Current Liabilities | $3.8M+66.9% | $2.3M-75.7% | $9.4M-35.5% | $14.5M+247.7% | $4.2M+318.4% | $996K-95.8% | $23.5M+5203.5% | $443K-64.2% | $1.2M+96.3% | $631K-21.4% | $803K+148.2% | $324K+100.4% | $161K | $3K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $63K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $10.3M-46.0% | $19.0M+22.6% | $15.5M+1.1% | $15.3M+317.9% | $3.7M-27.3% | $5.1M+123.5% | -$21.5M-1108.9% | $2.1M+1816.3% | $111K-90.4% | $1.2M-39.6% | $1.9M+3640.2% | -$54K-131.6% | $171K | $357K |
| Retained Earnings | -$374.3M-6.3% | -$352.1M-5.4% | -$334.2M-11.0% | -$301.2M-20.0% | -$251.0M-11.6% | -$224.9M-448.0% | -$41.0M-465.1% | -$7.3M-52.3% | -$4.8M-104.2% | -$2.3M-132.5% | -$1.0M-75.5% | -$572K | N/A | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
BIVI 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 | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$19.0M0.0% | -$19.0M+31.9% | -$27.9M+30.6% | -$40.3M-112.0% | -$19.0M-81.7% | -$10.5M-542.0% | -$1.6M+34.9% | -$2.5M-302.6% | -$621K+0.4% | -$624K-305.9% | -$154K-135.0% | -$65K+62.2% | -$173K | -$163K |
| Investing Cash Flow | N/A | N/A | $14.5M+201.6% | -$14.3M | N/A | N/A | N/A | N/A | N/A | N/A | $10K | N/A | N/A | N/A |
| Financing Cash Flow | $10.5M-17.8% | $12.7M-28.5% | $17.8M-67.8% | $55.4M+67.2% | $33.1M+121.9% | $14.9M+1026.2% | $1.3M-52.6% | $2.8M+322.3% | $662K+31.1% | $505K+10100080.0% | -$5 | N/A | N/A | $508K |
| Dividends Paid | $44K-88.2% | $369K-58.3% | $886K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
BIVI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity | -214.9%-122.7pp | -92.3%+114.9pp | -207.1%+120.5pp | -327.6%+383.0pp | -710.6% | N/A | N/A | -114.7%+2074.3pp | -2189.0%-2074.0pp | -115.0%-92.4pp | -22.5% | N/A | -187.8% | -46.5% |
| Return on Assets | -154.9%-73.5pp | -81.4%+46.1pp | -127.4%+15.7pp | -143.2%-13.5pp | -129.7% | N/A | N/A | -95.0%+16.9pp | -111.9%-55.6pp | -56.3%-40.4pp | -15.9%+70.6pp | -86.5%+10.2pp | -96.7% | -46.2% |
| Current Ratio | 3.59-5.5x | 9.10+6.5x | 2.57+0.2x | 2.35-2.2x | 4.50-0.1x | 4.62+4.6x | 0.02-1.5x | 1.52+1.5x | 0.040.0x | 0.01-0.2x | 0.16-0.7x | 0.83-1.2x | 2.06 | 143.81 |
| Debt-to-Equity | 0.39+0.3x | 0.13-0.5x | 0.63-0.7x | 1.29-3.2x | 4.48+4.3x | 0.20 | N/A | 0.21-18.4x | 18.56+17.5x | 1.04+0.6x | 0.42 | N/A | 0.94 | 0.01 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Biovie Inc Ranks
Frequently Asked Questions
Is Biovie Inc profitable?
No, Biovie Inc (BIVI) reported a net income of -$22.1M in fiscal year 2026.
What is Biovie Inc's return on equity (ROE)?
Biovie Inc (BIVI) has a return on equity of -214.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Biovie Inc's operating cash flow?
Biovie Inc (BIVI) recorded an outflow of $19.0M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Biovie Inc's total assets?
Biovie Inc (BIVI) had $14.3M in total assets as of fiscal year 2026, including both current and long-term assets.
How much does Biovie Inc spend on research and development?
Biovie Inc (BIVI) invested $14.0M in research and development during fiscal year 2026.
What is Biovie Inc's current ratio?
Biovie Inc (BIVI) had a current ratio of 3.59 as of fiscal year 2026, which is generally considered healthy.
What is Biovie Inc's debt-to-equity ratio?
Biovie Inc (BIVI) had a debt-to-equity ratio of 0.39 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Biovie Inc's return on assets (ROA)?
Biovie Inc (BIVI) had a return on assets of -154.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Biovie Inc's cash runway?
Based on fiscal year 2026 data, Biovie Inc (BIVI) had $9.0M in cash against an annual operating cash burn of $19.0M. This gives an estimated cash runway of approximately 6 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 Biovie Inc's Piotroski F-Score?
Biovie Inc (BIVI) 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 Biovie Inc's earnings high quality?
Biovie Inc (BIVI) reported a net loss of $22.1M while operations used $19.0M 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.
Can Biovie Inc cover its interest payments?
Biovie Inc (BIVI) reported an operating loss of $22.7M against $18K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.