Biolinerx Financials

BLRX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Biolinerx (BLRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).

Rhea AI BLRX FY2025 2026-04-22

External financing rather than recurring revenue still appears to fund the business, even as cash burn has moderated sharply.

Revenue swung from $28.9M in FY2024 to $1.2M in FY2025, which is too abrupt to read as ordinary commercial scaling. Because operating cash burn also shrank from -$43.9M to -$8.1M, the business looks governed more by lumpy income and internal spending resets than by a steadily compounding sales engine.

In FY2025, financing inflows of $8.9M roughly offset operating cash outflow of -$8.1M, so day-to-day operations were still being paid for by fresh capital rather than by customers. With long-term debt at just $977K, that dependency sits more in capital access than in lender pressure.

Balance-sheet posture improved by FY2025, with total liabilities down to $17.6M and equity up to $23.3M. But cash on hand was only $3.3M, so the company strengthened solvency without yet building a large cash cushion.

Financial Health Signals

Financial Profile 23/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Biolinerx'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.

Growth

Biolinerx's revenue declined 95.9% year-over-year, from $28.9M to $1.2M. This contraction results in a growth score of 0/100.

Leverage

100

Biolinerx carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Biolinerx's current ratio of 1.95 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Biolinerx generated -$8.1M in operating cash flow, capex of $25K consumed most of it, leaving -$8.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Biolinerx generates a -8.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -68.5% the prior year.

Piotroski F-Score Weak

3/9

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

Earnings Quality Low Quality

3.99x

For every $1 of reported earnings, Biolinerx generates $3.99 in operating cash flow (-$8.1M OCF vs -$2.0M 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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Earnings & Revenue

Revenue

$1.2M

YoY-95.9%

Biolinerx generated $1.2M in revenue in fiscal year 2025. This represents a decrease of 95.9% from the prior year.

EBITDA

N/A

Net Income

-$2.0M

YoY+78.0%

Biolinerx reported -$2.0M in net income in fiscal year 2025. This represents an increase of 78.0% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$8.1M

YoY+81.6%

Biolinerx generated -$8.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 81.6% from the prior year.

Cash & Debt

$3.3M

YoY-68.9%

5Y CAGR-28.0%

10Y CAGR-5.2%

Biolinerx held $3.3M in cash against $977K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-171.7%

YoY-139.8pp

Biolinerx's net profit margin was -171.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 139.8 percentage points from the prior year.

Return on Equity

-8.7%

YoY+59.8pp

5Y CAGR+127.6pp

10Y CAGR+21.6pp

Biolinerx's ROE was -8.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 59.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$25K

YoY-52.8%

10Y CAGR-37.3%

Biolinerx invested $25K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.8% from the prior year.

BLRX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2M-95.9%	$28.9M+502.9%	$4.8M	$0	$0	N/A
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$2.0M+78.0%	-$9.2M+84.8%	-$60.6M-142.9%	-$25.0M+7.8%	-$27.1M+9.9%	-$30.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	$304K	N/A	$5.4M	N/A	$0	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	-$3.9M	N/A	$484K	N/A	-$18.5M	N/A	-$7.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BLRX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$40.9M+5.1%	$38.9M-39.1%	$63.9M-16.3%	$76.4M-6.2%	$81.4M+72.1%	$47.3M
Current Assets	$23.7M-12.6%	$27.1M-42.6%	$47.2M-9.3%	$52.0M-9.4%	$57.4M+150.9%	$22.9M
Cash & Equivalents	$3.3M-68.9%	$10.4M+145.3%	$4.3M-59.8%	$10.6M-18.5%	$13.0M-22.8%	$16.8M
Inventory	$2.1M-31.7%	$3.1M+61.0%	$2.0M	$0	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.6M-31.0%	$25.4M-49.8%	$50.7M+98.5%	$25.5M+92.0%	$13.3M-47.3%	$25.3M
Current Liabilities	$12.1M-21.3%	$15.4M-64.0%	$42.8M+300.6%	$10.7M+9.9%	$9.7M-8.7%	$10.6M
Long-Term Debt	$977K-9.6%	$1.1M-16.2%	$1.3M-25.4%	$1.7M+0.2%	$1.7M+3.9%	$1.7M
Total Equity	$23.3M+73.4%	$13.5M+1.8%	$13.2M-74.0%	$50.8M-25.3%	$68.1M+209.1%	$22.0M
Retained Earnings	-$401.0M-0.3%	-$399.8M-2.4%	-$390.6M-18.4%	-$330.0M-8.2%	-$305.0M-9.7%	-$278.0M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$40.9M-5.5%	$43.3M+11.2%	$38.9M-39.8%	$64.6M+1.0%	$63.9M+8.5%	$58.9M-22.8%	$76.4M+12.6%	$67.8M
Current Assets	$23.7M-25.7%	$31.9M+17.6%	$27.1M-44.8%	$49.1M+4.1%	$47.2M+36.0%	$34.7M-33.3%	$52.0M+17.9%	$44.1M
Cash & Equivalents	$3.3M-54.8%	$7.2M-31.1%	$10.4M+8.4%	$9.6M+126.2%	$4.3M-57.9%	$10.1M-4.6%	$10.6M-24.4%	$14.0M
Inventory	$2.1M-24.6%	$2.9M-9.4%	$3.1M-13.5%	$3.6M+86.1%	$2.0M	N/A	$0	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.6M-24.3%	$23.2M-8.8%	$25.4M-49.7%	$50.6M-0.2%	$50.7M+33.8%	$37.9M+48.3%	$25.5M+126.6%	$11.3M
Current Liabilities	$12.1M-21.7%	$15.5M+0.5%	$15.4M-49.5%	$30.5M-28.7%	$42.8M+243.8%	$12.4M+16.5%	$10.7M+10.9%	$9.6M
Long-Term Debt	$977K-2.1%	$998K-7.7%	$1.1M-17.4%	$1.3M+1.5%	$1.3M-18.8%	$1.6M-8.1%	$1.7M+19.1%	$1.5M
Total Equity	$23.3M+16.3%	$20.1M+49.1%	$13.5M-3.1%	$13.9M+5.1%	$13.2M-37.2%	$21.1M-58.6%	$50.8M-10.1%	$56.6M
Retained Earnings	-$401.0M-0.6%	-$398.6M+0.3%	-$399.8M-2.3%	-$390.8M-0.1%	-$390.6M-8.3%	-$360.7M-9.3%	-$330.0M-4.0%	-$317.4M

BLRX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$8.1M+81.6%	-$43.9M-94.1%	-$22.6M+13.8%	-$26.2M-11.3%	-$23.6M-1.6%	-$23.2M
Capital Expenditures	$25K-52.8%	$53K-54.3%	$116K-11.5%	$131K+35.1%	$97K	$0
Free Cash Flow	-$8.1M+81.6%	-$43.9M-93.3%	-$22.7M+13.8%	-$26.4M-11.4%	-$23.7M-2.0%	-$23.2M
Investing Cash Flow	-$8.5M-129.1%	$29.4M+1934.2%	$1.4M-64.0%	$4.0M+110.5%	-$38.2M-329.3%	$16.7M
Financing Cash Flow	$8.9M-57.0%	$20.7M+37.2%	$15.1M-26.3%	$20.4M-64.6%	$57.7M+223.2%	$17.9M
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	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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

BLRX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-171.7%-139.8pp	-31.9%+1230.9pp	-1262.8%	N/A	N/A	N/A
Return on Equity	-8.7%+59.8pp	-68.5%+389.9pp	-458.4%-409.3pp	-49.1%-9.4pp	-39.7%+96.5pp	-136.3%
Return on Assets	-5.0%+18.8pp	-23.7%+71.1pp	-94.8%-62.2pp	-32.7%+0.6pp	-33.2%+30.2pp	-63.5%
Current Ratio	1.95+0.2	1.76+0.7	1.10-3.8	4.87-1.0	5.91+3.8	2.15
Debt-to-Equity	0.04-0.0	0.08-0.0	0.10+0.1	0.030.0	0.03-0.1	0.08
FCF Margin	-686.4%-534.6pp	-151.8%+321.6pp	-473.4%	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	N/A	N/A	N/A	N/A
Net Margin	N/A	-1296.0%	N/A	9.0%	N/A	N/A	N/A	N/A
Return on Equity	N/A	-19.6%	N/A	3.5%	N/A	-88.1%	N/A	-13.2%
Return on Assets	N/A	-9.1%	N/A	0.8%	N/A	-31.5%	N/A	-11.0%
Current Ratio	1.95-0.1	2.06+0.3	1.76+0.2	1.61+0.5	1.10-1.7	2.79-2.1	4.87+0.3	4.58
Debt-to-Equity	0.040.0	0.05-0.0	0.08-0.0	0.090.0	0.10+0.0	0.08+0.0	0.030.0	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Biolinerx's annual revenue?

Biolinerx (BLRX) reported $1.2M in total revenue for fiscal year 2025. This represents a -95.9% 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 Biolinerx's revenue growing?

Biolinerx (BLRX) revenue declined by 95.9% year-over-year, from $28.9M to $1.2M in fiscal year 2025.

Is Biolinerx profitable?

No, Biolinerx (BLRX) reported a net income of -$2.0M in fiscal year 2025, with a net profit margin of -171.7%.

How much debt does Biolinerx have?

As of fiscal year 2025, Biolinerx (BLRX) had $3.3M in cash and equivalents against $977K in long-term debt.

What is Biolinerx's net profit margin?

Biolinerx (BLRX) had a net profit margin of -171.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Biolinerx's return on equity (ROE)?

Biolinerx (BLRX) has a return on equity of -8.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Biolinerx's free cash flow?

Biolinerx (BLRX) generated -$8.1M in free cash flow during fiscal year 2025. This represents a 81.6% 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 Biolinerx's operating cash flow?

Biolinerx (BLRX) generated -$8.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Biolinerx's total assets?

Biolinerx (BLRX) had $40.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Biolinerx's capital expenditures?

Biolinerx (BLRX) invested $25K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Biolinerx's current ratio?

Biolinerx (BLRX) had a current ratio of 1.95 as of fiscal year 2025, which is generally considered healthy.

What is Biolinerx's debt-to-equity ratio?

Biolinerx (BLRX) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Biolinerx's return on assets (ROA)?

Biolinerx (BLRX) had a return on assets of -5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Biolinerx's cash runway?

Based on fiscal year 2025 data, Biolinerx (BLRX) had $3.3M in cash against an annual operating cash burn of $8.1M. This gives an estimated cash runway of approximately 5 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 Biolinerx's Piotroski F-Score?

Biolinerx (BLRX) has a Piotroski F-Score of 3 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Biolinerx's earnings high quality?

Biolinerx (BLRX) has an earnings quality ratio of 3.99x, 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 Biolinerx?

Biolinerx (BLRX) scores 23 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.