What is Brand Engagement Network Inc's earnings per share (EPS)?

Brand Engagement Network Inc (BNAIW) reported diluted earnings per share of $-1.97 for fiscal year 2025. This represents a 80.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Brand Engagement Network Inc Financials

BNAIW

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Brand Engagement Network Inc (BNAIW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 BNAIW FY2025 2026-04-22

External financing still powers the business, because customer revenue remains tiny relative to the company’s operating cash burn.

From FY2024 to FY2025, net loss improved by about $25.1M while revenue added only $175K, and operating cash burn fell from $14.0M to $5.1M; that mix points to expense compression, not a self-funding commercial ramp. Because financing inflow of $5.1M almost matched operating cash outflow of $5.1M and year-end cash was just $172K, the company still operated as a capital-funded business rather than a customer-funded one.

The capital structure improved—total liabilities fell to $11.8M from $15.5M and debt-to-equity eased to 3.4x from 5.9x—but near-term liquidity stayed strained, with only $1.6M of current assets against $10.8M of current liabilities. That means leverage improved on paper, but the timing of obligations still matters more than the size of the balance sheet.

Free cash flow of -$5.1M was almost the same as operating cash flow of -$5.1M because capex was just $24K, so the cash drain is coming from the ongoing operating cost base, not from heavy reinvestment. This matters because the business is not burning cash to build long-lived assets that could later support revenue.

Financial Health Signals

Financial Profile 22/100

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 Brand Engagement Network Inc'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.

Profitability

Brand Engagement Network Inc has an operating margin of -4589.3%, meaning the company retains $-4589 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 up from -36550.7% the prior year.

Growth

100

Brand Engagement Network Inc's revenue surged 175.7% year-over-year to $275K, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Brand Engagement Network Inc has a moderate D/E ratio of 3.42. This balance of debt and equity financing earns a leverage score of 32/100.

Liquidity

Brand Engagement Network Inc's current ratio of 0.15 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Brand Engagement Network Inc generated -$5.1M in operating cash flow, capex of $24K consumed most of it, leaving -$5.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Brand Engagement Network Inc generates a -249.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -1274.9% the prior year.

Piotroski F-Score Neutral

4/9

Brand Engagement Network Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.59x

For every $1 of reported earnings, Brand Engagement Network Inc generates $0.59 in operating cash flow (-$5.1M OCF vs -$8.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-30.8x

Brand Engagement Network Inc earns $-30.8 in operating income for every $1 of interest expense (-$12.6M vs $410K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$275K

YoY+175.7%

Brand Engagement Network Inc generated $275K in revenue in fiscal year 2025. This represents an increase of 175.7% from the prior year.

EBITDA

-$8.8M

YoY+74.0%

Brand Engagement Network Inc's EBITDA was -$8.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 74.0% from the prior year.

Net Income

-$8.6M

YoY+74.4%

Brand Engagement Network Inc reported -$8.6M in net income in fiscal year 2025. This represents an increase of 74.4% from the prior year.

EPS (Diluted)

$-1.97

YoY+80.8%

Brand Engagement Network Inc earned $-1.97 per diluted share (EPS) in fiscal year 2025. This represents an increase of 80.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$5.1M

YoY+63.7%

Brand Engagement Network Inc generated -$5.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 63.7% from the prior year.

Cash & Debt

$172K

YoY+15.3%

Brand Engagement Network Inc held $172K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

45M

YoY+32.7%

Brand Engagement Network Inc had 45M shares outstanding in fiscal year 2025. This represents an increase of 32.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-4589.3%

YoY+31961.4pp

Brand Engagement Network Inc's operating margin was -4589.3% in fiscal year 2025, reflecting core business profitability. This is up 31961.4 percentage points from the prior year.

Net Margin

-3135.2%

YoY+30651.2pp

Brand Engagement Network Inc's net profit margin was -3135.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 30651.2 percentage points from the prior year.

Return on Equity

-249.2%

YoY+1025.7pp

Brand Engagement Network Inc's ROE was -249.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1025.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$163K

YoY-85.5%

Brand Engagement Network Inc invested $163K in research and development in fiscal year 2025. This represents a decrease of 85.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$24K

YoY-55.7%

Brand Engagement Network Inc invested $24K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 55.7% from the prior year.

BNAIW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$275K+175.7%	$100K+183.4%	$35K	N/A	N/A	N/A
Cost of Revenue	N/A	$0	$0	N/A	N/A	N/A
Gross Profit	N/A	$100K+183.4%	$35K	N/A	N/A	N/A
R&D Expenses	$163K-85.5%	$1.1M+376.4%	$237K	N/A	N/A	N/A
SG&A Expenses	$8.9M-53.9%	$19.2M+77.5%	$10.8M	N/A	N/A	N/A
Operating Income	-$12.6M+65.4%	-$36.5M-212.3%	-$11.7M-116.7%	-$5.4M-133.1%	-$2.3M	N/A
Interest Expense	$410K+102.3%	$203K+259.1%	$57K	N/A	N/A	N/A
Income Tax	N/A	$0	$0	$0	$0	$0
Net Income	-$8.6M+74.4%	-$33.7M-187.4%	-$11.7M-262.8%	$7.2M+41.9%	$5.1M	N/A
EPS (Diluted)	$-1.97+80.8%	$-10.25-1698.2%	$-0.57	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$104K-47.8%	$200K+232.7%	$60K+1102.4%	$5K-50.0%	$10K	N/A	$50K	$0
Cost of Revenue	N/A	N/A	N/A	N/A	$0	N/A	$0	$0
Gross Profit	N/A	N/A	$60K+1102.4%	$5K-50.0%	$10K	N/A	$50K	$0
R&D Expenses	$27K-81.9%	$149K+4192.2%	-$4K-149.1%	$7K-30.8%	$11K	N/A	$153K-56.9%	$356K
SG&A Expenses	$2.4M+0.2%	$2.4M+62.5%	$1.5M-21.4%	$1.8M-42.5%	$3.2M	N/A	$4.2M-20.0%	$5.3M
Operating Income	-$3.3M-0.1%	-$3.3M-43.8%	-$2.3M+18.0%	-$2.8M+32.0%	-$4.2M	N/A	-$5.3M+16.1%	-$6.3M
Interest Expense	$58K-73.9%	$220K+407.6%	$43K+100.9%	$22K-82.7%	$125K	N/A	$18K-7.4%	$19K
Income Tax	$47K	N/A	N/A	N/A	$0	N/A	$0	$0
Net Income	-$3.1M+11.0%	-$3.4M-38.5%	-$2.5M-374.2%	$905K+125.1%	-$3.6M	N/A	-$5.8M-90.9%	-$3.0M
EPS (Diluted)	$-0.51	N/A	$-0.06-400.0%	$0.02+102.2%	$-0.90	N/A	$-0.16-77.8%	$-0.09

BNAIW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$15.3M-15.7%	$18.1M-17.5%	$22.0M-93.0%	$314.2M+1.1%	$310.7M+434167.3%	$72K
Current Assets	$1.6M+33.5%	$1.2M-35.4%	$1.9M+588.0%	$276K-78.0%	$1.3M	N/A
Cash & Equivalents	$172K+15.3%	$149K-91.1%	$1.7M+83731.5%	$2K-99.8%	$861K	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$250K+709.8%	$31K+208.9%	$10K	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$11.8M-23.6%	$15.5M+259.4%	$4.3M-98.6%	$314.2M-4.7%	$329.6M+639339.6%	$52K
Current Liabilities	$10.8M-24.1%	$14.3M+353.0%	$3.1M-42.2%	$5.4M+431.0%	$1.0M+1887.8%	$52K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.5M+30.9%	$2.6M-85.1%	$17.7M+44218.1%	-$40K+99.8%	-$18.9M-94623.5%	$20K
Retained Earnings	-$55.6M-18.3%	-$47.0M-253.5%	-$13.3M+17.7%	-$16.2M+14.5%	-$18.9M-378009.4%	-$5K

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$16.3M+6.6%	$15.3M-6.5%	$16.4M-3.8%	$17.0M-5.1%	$17.9M-1.2%	$18.1M-43.2%	$31.9M-6.2%	$34.1M
Current Assets	$3.6M+119.9%	$1.6M-10.7%	$1.8M-6.1%	$2.0M+3.8%	$1.9M+53.5%	$1.2M+3.7%	$1.2M-51.7%	$2.4M
Cash & Equivalents	$1.8M+946.3%	$172K+67.6%	$103K+404.6%	$20K-91.4%	$236K+58.3%	$149K+104.8%	$73K-94.9%	$1.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$130K-47.9%	$250K+399.0%	$50K+456.9%	$9K-78.0%	$41K+32.4%	$31K0.0%	$31K	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.0M-23.8%	$11.8M-8.3%	$12.9M+14.4%	$11.3M-22.8%	$14.6M-5.7%	$15.5M+9.2%	$14.2M+5.9%	$13.4M
Current Liabilities	$8.3M-23.1%	$10.8M-12.1%	$12.3M+17.9%	$10.4M-25.9%	$14.1M-1.1%	$14.3M+9.2%	$13.0M+1.2%	$12.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.3M+110.4%	$3.5M+0.2%	$3.5M-39.7%	$5.7M+72.8%	$3.3M+25.3%	$2.6M-85.1%	$17.8M-14.0%	$20.6M
Retained Earnings	-$58.7M-5.5%	-$55.6M-6.6%	-$52.2M-5.0%	-$49.7M+1.8%	-$50.6M-7.7%	-$47.0M-61.8%	-$29.1M-25.1%	-$23.2M

BNAIW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$5.1M+63.8%	-$14.0M-177.8%	-$5.1M-679.0%	-$649K+60.7%	-$1.7M	N/A
Capital Expenditures	$24K-55.7%	$53K+9.7%	$48K	N/A	N/A	N/A
Free Cash Flow	-$5.1M+63.7%	-$14.1M-176.2%	-$5.1M	N/A	N/A	N/A
Investing Cash Flow	-$24K+91.6%	-$281K+75.3%	-$1.1M	$0+100.0%	-$309.5M	N/A
Financing Cash Flow	$5.1M-59.9%	$12.8M+62.3%	$7.9M	$0-100.0%	$312.0M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$0	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$3.7M-1543.5%	$258K+340.6%	-$107K+95.9%	-$2.6M+0.7%	-$2.6M-10.7%	-$2.4M+22.3%	-$3.1M+24.9%	-$4.1M
Capital Expenditures	N/A	N/A	N/A	N/A	$0	$0-100.0%	$27K+101.1%	$13K
Free Cash Flow	N/A	N/A	N/A	N/A	-$2.6M-10.7%	-$2.4M+22.9%	-$3.1M+24.4%	-$4.1M
Investing Cash Flow	-$140K-125.0%	$561K+226.6%	-$443K-1318.0%	-$31K+71.7%	-$110K-68.5%	-$65K+43.7%	-$116K-262.9%	$71K
Financing Cash Flow	$5.5M+832.9%	-$750K-218.5%	$633K-73.9%	$2.4M-14.2%	$2.8M+12.3%	$2.5M+38.9%	$1.8M-14.5%	$2.1M
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

BNAIW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	100.0%0.0pp	100.0%	N/A	N/A	N/A
Operating Margin	-4589.3%+31961.4pp	-36550.7%-3376.9pp	-33173.8%	N/A	N/A	N/A
Net Margin	-3135.2%+30651.2pp	-33786.4%-468.4pp	-33318.0%	N/A	N/A	N/A
Return on Equity	-249.2%+1025.7pp	-1274.9%-1208.6pp	-66.3%	N/A	N/A	N/A
Return on Assets	-56.4%+129.4pp	-185.8%-132.5pp	-53.3%-55.6pp	2.3%+0.7pp	1.6%	N/A
Current Ratio	0.15+0.1	0.09-0.5	0.60+0.6	0.05-1.2	1.22	N/A
Debt-to-Equity	3.42-2.4	5.86+5.6	0.24+7835.0	-7834.77-7817.3	-17.44-20.0	2.58
FCF Margin	-1857.3%+12265.1pp	-14122.4%+370.9pp	-14493.3%	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	100.0%0.0pp	100.0%0.0pp	100.0%	N/A	100.0%	N/A
Operating Margin	-3196.2%-1531.1pp	-1665.1%+2188.3pp	-3853.3%+52652.8pp	-56506.2%-14965.2pp	-41540.9%	N/A	-10559.0%	N/A
Net Margin	-2934.5%-1215.3pp	-1719.2%+2409.2pp	-4128.4%-22230.0pp	18101.6%+54203.9pp	-36102.3%	N/A	-11646.2%	N/A
Return on Equity	-42.0%+57.3pp	-99.3%-27.5pp	-71.9%-87.7pp	15.8%+124.8pp	-109.0%	N/A	-32.8%-18.0pp	-14.8%
Return on Assets	-18.8%+3.7pp	-22.5%-7.3pp	-15.2%-20.5pp	5.3%+25.4pp	-20.1%	N/A	-18.2%-9.3pp	-9.0%
Current Ratio	0.43+0.3	0.150.0	0.15-0.0	0.19+0.1	0.13+0.0	0.090.0	0.09-0.1	0.19
Debt-to-Equity	1.24-2.2	3.42-0.3	3.74+1.8	1.97-2.4	4.42-1.4	5.86+5.1	0.80+0.2	0.65
FCF Margin	N/A	N/A	N/A	N/A	-26278.6%	N/A	-6159.9%	N/A

Note: The current ratio is below 1.0 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Brand Engagement Network Inc's annual revenue?

Brand Engagement Network Inc (BNAIW) reported $275K in total revenue for fiscal year 2025. This represents a 175.7% 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 Brand Engagement Network Inc's revenue growing?

Brand Engagement Network Inc (BNAIW) revenue grew by 175.7% year-over-year, from $100K to $275K in fiscal year 2025.

Is Brand Engagement Network Inc profitable?

No, Brand Engagement Network Inc (BNAIW) reported a net income of -$8.6M in fiscal year 2025, with a net profit margin of -3135.2%.

What is Brand Engagement Network Inc's EBITDA?

Brand Engagement Network Inc (BNAIW) had EBITDA of -$8.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Brand Engagement Network Inc's operating margin?

Brand Engagement Network Inc (BNAIW) had an operating margin of -4589.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Brand Engagement Network Inc's net profit margin?

Brand Engagement Network Inc (BNAIW) had a net profit margin of -3135.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Brand Engagement Network Inc's return on equity (ROE)?

Brand Engagement Network Inc (BNAIW) has a return on equity of -249.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Brand Engagement Network Inc's free cash flow?

Brand Engagement Network Inc (BNAIW) generated -$5.1M in free cash flow during fiscal year 2025. This represents a 63.7% 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 Brand Engagement Network Inc's operating cash flow?

Brand Engagement Network Inc (BNAIW) generated -$5.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Brand Engagement Network Inc's total assets?

Brand Engagement Network Inc (BNAIW) had $15.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Brand Engagement Network Inc's capital expenditures?

Brand Engagement Network Inc (BNAIW) invested $24K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Brand Engagement Network Inc spend on research and development?

Brand Engagement Network Inc (BNAIW) invested $163K in research and development during fiscal year 2025.

How many shares does Brand Engagement Network Inc have outstanding?

Brand Engagement Network Inc (BNAIW) had 45M shares outstanding as of fiscal year 2025.

What is Brand Engagement Network Inc's current ratio?

Brand Engagement Network Inc (BNAIW) had a current ratio of 0.15 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Brand Engagement Network Inc's debt-to-equity ratio?

Brand Engagement Network Inc (BNAIW) had a debt-to-equity ratio of 3.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brand Engagement Network Inc's return on assets (ROA)?

Brand Engagement Network Inc (BNAIW) had a return on assets of -56.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Brand Engagement Network Inc's cash runway?

Based on fiscal year 2025 data, Brand Engagement Network Inc (BNAIW) had $172K in cash against an annual operating cash burn of $5.1M. This gives an estimated cash runway of approximately 0 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 Brand Engagement Network Inc's Piotroski F-Score?

Brand Engagement Network Inc (BNAIW) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Brand Engagement Network Inc's earnings high quality?

Brand Engagement Network Inc (BNAIW) has an earnings quality ratio of 0.59x, 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.

Can Brand Engagement Network Inc cover its interest payments?

Brand Engagement Network Inc (BNAIW) has an interest coverage ratio of -30.8x, meaning it can struggle to cover its interest obligations. 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.

How financially healthy is Brand Engagement Network Inc?

Brand Engagement Network Inc (BNAIW) scores 22 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.