What is Bionik Labo's earnings per share (EPS)?

Bionik Labo (BNKL) reported diluted earnings per share of $-0.72 for fiscal year 2023. This represents a 59.6% 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.

Bionik Labo Financials

BNKL

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2023 Currency USD FYE March

This page shows Bionik Labo (BNKL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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 BNKL FY2023 2026-04-22

Tiny revenue on high-cost infrastructure keeps this business externally financed, even as losses narrow through aggressive cost reduction.

FY2023 revenue recovered, but gross profit barely changed because gross margin fell from 74.8% to 54.8%. That pattern suggests a mix shift toward lower-margin sales, so the smaller net loss came more from cost restraint than from stronger economics on each dollar sold.

From FY2020 to FY2023, SG&A plus R&D fell from $8.47M to $3.83M, which did more to narrow the operating loss than revenue growth did. That says the company has been resizing its expense base to fit a much smaller commercial footprint, yet overhead still sits well above gross profit, leaving insufficient sales volume as the main operating constraint.

FY2023 ended with negative equity because liabilities of $5.0M exceeded assets of $3.4M, showing that past losses have now overtaken the balance sheet. Combined with cash of $427K against operating cash burn of $3.39M, this reads as survival financing supporting operations rather than a reserve rebuilt from internally generated cash.

Financial Health Signals

Financial Profile 32/100

Based on FY2023 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 Bionik Labo'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

Bionik Labo has an operating margin of -267.3%, meaning the company retains $-267 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 -783.0% the prior year.

Growth

Bionik Labo's revenue surged 41.7% year-over-year to $1.8M, reflecting rapid business expansion. This strong growth earns a score of 72/100.

Leverage

100

Bionik Labo carries a low D/E ratio of -3.05, meaning only $-3.05 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

Bionik Labo's current ratio of 1.20 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

3/9

Bionik Labo passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.68x

For every $1 of reported earnings, Bionik Labo generates $0.68 in operating cash flow (-$3.4M OCF vs -$4.9M 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

-45.0x

Bionik Labo earns $-45.0 in operating income for every $1 of interest expense (-$4.8M vs $107K). 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

$1.8M

YoY+41.7%

5Y CAGR+12.8%

10Y CAGR+73.0%

Bionik Labo generated $1.8M in revenue in fiscal year 2023. This represents an increase of 41.7% from the prior year.

EBITDA

-$4.8M

YoY+51.8%

Bionik Labo's EBITDA was -$4.8M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 51.8% from the prior year.

Net Income

-$4.9M

YoY+52.5%

Bionik Labo reported -$4.9M in net income in fiscal year 2023. This represents an increase of 52.5% from the prior year.

EPS (Diluted)

$-0.72

YoY+59.6%

Bionik Labo earned $-0.72 per diluted share (EPS) in fiscal year 2023. This represents an increase of 59.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$427K

YoY-78.5%

5Y CAGR-0.9%

10Y CAGR+56.2%

Bionik Labo held $427K in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

54.8%

YoY-20.0pp

5Y CAGR-4.4pp

Bionik Labo's gross margin was 54.8% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 20.0 percentage points from the prior year.

Operating Margin

-267.3%

YoY+515.7pp

Bionik Labo's operating margin was -267.3% in fiscal year 2023, reflecting core business profitability. This is up 515.7 percentage points from the prior year.

Net Margin

-274.0%

YoY+543.1pp

5Y CAGR-1755.2pp

10Y CAGR-148.8pp

Bionik Labo's net profit margin was -274.0% in fiscal year 2023, showing the share of revenue converted to profit. This is up 543.1 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$903K

YoY-9.5%

5Y CAGR-20.4%

Bionik Labo invested $903K in research and development in fiscal year 2023. This represents a decrease of 9.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

BNKL Income Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$1.8M+41.7%	$1.3M+6.7%	$1.2M-44.6%	$2.2M-33.7%	$3.2M+228.7%	$987K
Cost of Revenue	$815K+154.4%	$320K+18.8%	$270K-69.8%	$893K-45.2%	$1.6M+304.8%	$403K
Gross Profit	$990K+3.8%	$953K+3.2%	$924K-26.7%	$1.3M-22.0%	$1.6M+176.3%	$585K
R&D Expenses	$903K-9.5%	$999K-35.4%	$1.5M-60.3%	$3.9M+22.5%	$3.2M+12.4%	$2.8M
SG&A Expenses	$2.9M+4.4%	$2.8M-37.8%	$4.5M-1.6%	$4.6M+17.6%	$3.9M+8.6%	$3.6M
Operating Income	-$4.8M+51.6%	-$10.0M+25.2%	-$13.3M+46.8%	-$25.1M	N/A	N/A
Interest Expense	$107K-87.0%	$825K+103.6%	$405K+122.8%	$182K+171.1%	-$256K-119.7%	$1.3M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$4.9M+52.5%	-$10.4M+23.6%	-$13.6M+45.6%	-$25.0M-137.0%	-$10.6M-172.2%	$14.6M
EPS (Diluted)	$-0.72+59.6%	$-1.78+33.1%	$-2.66	N/A	N/A	N/A

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Revenue	$501K-12.9%	$575K+18.3%	$486K+100.2%	$243K+27.0%	$191K+4.4%	$183K-19.6%	$228K-66.0%	$671K
Cost of Revenue	$247K-18.9%	$305K+61.4%	$189K+150.9%	$75K+28.2%	$59K+16.3%	$50K-37.7%	$81K-38.0%	$131K
Gross Profit	$254K-6.1%	$271K-9.1%	$298K+77.5%	$168K+26.4%	$133K-0.2%	$133K-9.6%	$147K-72.8%	$541K
R&D Expenses	$206K+119.6%	$94K-58.6%	$226K-40.3%	$378K+3.8%	$364K-1.0%	$368K+332.6%	$85K-53.0%	$181K
SG&A Expenses	$869K+12.2%	$774K+12.7%	$687K+14.3%	$601K+2.8%	$585K-19.4%	$725K+9.1%	$665K-20.2%	$832K
Operating Income	-$1.3M-24.3%	-$1.0M+6.1%	-$1.1M+19.1%	-$1.4M+2.0%	-$1.4M+79.2%	-$6.7M-546.0%	-$1.0M-29.9%	-$802K
Interest Expense	$54K+79.0%	$30K+74.7%	$17K+261.0%	$5K-98.1%	$249K-0.2%	$249K+10.6%	$225K+120.1%	$102K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.4M-26.0%	-$1.1M+4.7%	-$1.1M+18.4%	-$1.4M+18.8%	-$1.7M+75.6%	-$7.0M-450.8%	-$1.3M-181.2%	-$451K
EPS (Diluted)	N/A	$-0.160.0%	$-0.16+20.0%	$-0.20	N/A	$-1.18-436.4%	$-0.22-175.0%	$-0.08

BNKL Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$3.4M-28.1%	$4.7M-46.8%	$8.8M-52.6%	$18.5M-39.6%	$30.7M+7.3%	$28.6M
Current Assets	$2.8M-39.4%	$4.6M+33.5%	$3.4M-41.1%	$5.8M+55.4%	$3.7M+165.9%	$1.4M
Cash & Equivalents	$427K-78.5%	$2.0M+227.3%	$608K-73.2%	$2.3M+408.0%	$447K0.0%	$447K
Inventory	$1.0M-13.1%	$1.2M+72.1%	$692K-34.7%	$1.1M+161.2%	$406K+70.9%	$237K
Accounts Receivable	$453K+64.9%	$275K-39.2%	$452K-46.6%	$847K-44.4%	$1.5M+616.0%	$213K
Goodwill	$100K	$0-100.0%	$4.3M-61.4%	$11.1M-50.3%	$22.3M0.0%	$22.3M
Total Liabilities	$5.0M+186.1%	$1.7M-68.2%	$5.5M+5.9%	$5.2M+59.0%	$3.3M-59.7%	$8.1M
Current Liabilities	$2.3M+54.8%	$1.5M-63.6%	$4.1M-14.4%	$4.8M+46.3%	$3.3M-59.7%	$8.1M
Long-Term Debt	N/A	$0-100.0%	$1.1M	$0	$0	N/A
Total Equity	-$1.6M-156.0%	$2.9M-10.8%	$3.3M-75.4%	$13.3M-51.4%	$27.4M+33.9%	$20.5M
Retained Earnings	-$100.3M-5.2%	-$95.4M-12.2%	-$85.0M-19.1%	-$71.4M-54.0%	-$46.4M-29.6%	-$35.8M

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Total Assets	$3.4M-8.8%	$3.7M-3.8%	$3.8M-4.3%	$4.0M-14.4%	$4.7M-21.8%	$6.0M-52.0%	$12.5M+43.6%	$8.7M
Current Assets	$2.8M-9.7%	$3.1M-4.9%	$3.2M-17.6%	$3.9M-14.4%	$4.6M-22.6%	$5.9M-17.6%	$7.2M+113.3%	$3.4M
Cash & Equivalents	$427K-37.6%	$685K+72.3%	$398K-70.1%	$1.3M-33.3%	$2.0M-40.9%	$3.4M-29.4%	$4.8M+781.6%	$542K
Inventory	$1.0M-9.5%	$1.1M-15.3%	$1.4M-4.8%	$1.4M+19.2%	$1.2M+28.2%	$929K+17.8%	$789K+31.2%	$601K
Accounts Receivable	$453K+34.3%	$337K-42.0%	$581K+388.8%	$119K-56.7%	$275K+111.8%	$130K+81.6%	$71K-84.0%	$446K
Goodwill	$100K0.0%	$100K0.0%	$100K	N/A	$0	$0-100.0%	$4.3M0.0%	$4.3M
Total Liabilities	$5.0M+18.9%	$4.2M+27.2%	$3.3M+37.4%	$2.4M+37.6%	$1.7M-83.2%	$10.4M+2.9%	$10.1M+75.8%	$5.8M
Current Liabilities	$2.3M+10.4%	$2.1M+3.0%	$2.0M+20.1%	$1.7M+13.4%	$1.5M-85.3%	$10.2M+3.1%	$9.8M+163.0%	$3.7M
Long-Term Debt	N/A	N/A	N/A	N/A	$0	$0	$0-100.0%	$1.7M
Total Equity	-$1.6M-214.3%	-$522K-199.8%	$523K-67.2%	$1.6M-45.5%	$2.9M+165.9%	-$4.4M-290.0%	$2.3M-19.9%	$2.9M
Retained Earnings	-$100.3M-1.4%	-$99.0M-1.1%	-$97.9M-1.2%	-$96.8M-1.5%	-$95.4M-1.8%	-$93.7M-8.1%	-$86.7M-1.5%	-$85.4M

BNKL Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$3.4M+18.3%	-$4.1M+10.3%	-$4.6M+49.0%	-$9.1M+1.8%	-$9.2M-19.7%	-$7.7M
Capital Expenditures	N/A	$13K	$0-100.0%	$160K	N/A	N/A
Free Cash Flow	N/A	-$4.2M+10.0%	-$4.6M+49.9%	-$9.2M	N/A	N/A
Investing Cash Flow	-$224K-1689.6%	-$13K	$0+100.0%	-$160K-56.9%	-$102K-371.9%	-$22K
Financing Cash Flow	$2.0M-63.1%	$5.5M+87.3%	$3.0M-73.2%	$11.0M+19.1%	$9.3M+20.5%	$7.7M
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	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Operating Cash Flow	-$757K-47.6%	-$513K+46.3%	-$955K+17.8%	-$1.2M+15.8%	-$1.4M+0.8%	-$1.4M-83.7%	-$758K-22.6%	-$618K
Capital Expenditures	N/A	$765-89.3%	$7K	$0	$0-100.0%	$13K	$0	$0
Free Cash Flow	N/A	-$514K+46.6%	-$962K+17.2%	-$1.2M+15.8%	-$1.4M+1.7%	-$1.4M-85.3%	-$758K-22.6%	-$618K
Investing Cash Flow	-$752+1.7%	-$765+99.7%	-$222K	$0	$0+100.0%	-$13K	$0	$0
Financing Cash Flow	$500K-37.5%	$800K+220.0%	$250K-50.0%	$500K+34694.7%	$1K+200.0%	-$1K-100.0%	$5.0M+809.1%	$550K
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

BNKL Financial Ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	54.8%-20.0pp	74.8%-2.6pp	77.4%+18.9pp	58.5%+8.7pp	49.8%-9.4pp	59.2%
Operating Margin	-267.3%+515.7pp	-783.0%+334.6pp	-1117.6%+47.5pp	-1165.0%	N/A	N/A
Net Margin	-274.0%+543.1pp	-817.1%+324.2pp	-1141.3%+20.5pp	-1161.8%-836.5pp	-325.2%-1806.4pp	1481.2%
Return on Equity	N/A	-355.6%+59.6pp	-415.1%-227.3pp	-187.8%-149.3pp	-38.5%-110.0pp	71.5%
Return on Assets	-147.1%+75.5pp	-222.6%-67.6pp	-155.0%-19.9pp	-135.1%-100.7pp	-34.4%-85.6pp	51.2%
Current Ratio	1.20-1.9	3.07+2.2	0.84-0.4	1.22+0.1	1.15+1.0	0.17
Debt-to-Equity	-3.05-3.0	0.00-0.3	0.34+0.3	0.000.0	0.00-0.4	0.40
FCF Margin	N/A	-326.6%+60.9pp	-387.4%+40.9pp	-428.3%	N/A	N/A

Metric	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22
Gross Margin	50.7%+3.7pp	47.0%-14.2pp	61.2%-7.8pp	69.0%-0.3pp	69.3%-3.2pp	72.5%+8.0pp	64.5%-16.1pp	80.6%
Operating Margin	-258.8%-77.4pp	-181.4%+47.1pp	-228.5%+337.0pp	-565.5%+167.1pp	-732.7%+2938.8pp	-3671.5%-3214.5pp	-457.0%-337.6pp	-119.5%
Net Margin	-270.7%-83.5pp	-187.2%+45.1pp	-232.3%+337.7pp	-570.0%+321.6pp	-891.6%+2919.3pp	-3810.8%-3254.5pp	-556.4%-489.2pp	-67.2%
Return on Equity	N/A	N/A	-215.9%-129.3pp	-86.7%-28.4pp	-58.3%	N/A	-54.2%-38.8pp	-15.5%
Return on Assets	-40.3%-11.1pp	-29.2%+0.3pp	-29.5%+5.1pp	-34.6%+1.9pp	-36.5%+80.3pp	-116.8%-106.6pp	-10.2%-5.0pp	-5.2%
Current Ratio	1.20-0.3	1.47-0.1	1.59-0.7	2.32-0.8	3.07+2.5	0.58-0.1	0.73-0.2	0.90
Debt-to-Equity	-3.05+5.0	-8.06-14.4	6.32+4.8	1.51+1.5	0.000.0	0.000.0	0.00-0.6	0.58
FCF Margin	N/A	-89.3%+108.6pp	-198.0%+280.7pp	-478.7%+242.8pp	-721.5%+44.7pp	-766.2%-433.7pp	-332.5%-240.4pp	-92.1%

Note: Shareholder equity is negative (-$1.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Bionik Labo's annual revenue?

Bionik Labo (BNKL) reported $1.8M in total revenue for fiscal year 2023. This represents a 41.7% 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 Bionik Labo's revenue growing?

Bionik Labo (BNKL) revenue grew by 41.7% year-over-year, from $1.3M to $1.8M in fiscal year 2023.

Is Bionik Labo profitable?

No, Bionik Labo (BNKL) reported a net income of -$4.9M in fiscal year 2023, with a net profit margin of -274.0%.

What is Bionik Labo's EBITDA?

Bionik Labo (BNKL) had EBITDA of -$4.8M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Bionik Labo's gross margin?

Bionik Labo (BNKL) had a gross margin of 54.8% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

What is Bionik Labo's operating margin?

Bionik Labo (BNKL) had an operating margin of -267.3% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

What is Bionik Labo's net profit margin?

Bionik Labo (BNKL) had a net profit margin of -274.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.

What is Bionik Labo's operating cash flow?

Bionik Labo (BNKL) generated -$3.4M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Bionik Labo's total assets?

Bionik Labo (BNKL) had $3.4M in total assets as of fiscal year 2023, including both current and long-term assets.

How much does Bionik Labo spend on research and development?

Bionik Labo (BNKL) invested $903K in research and development during fiscal year 2023.

What is Bionik Labo's current ratio?

Bionik Labo (BNKL) had a current ratio of 1.20 as of fiscal year 2023, which is considered adequate.

What is Bionik Labo's debt-to-equity ratio?

Bionik Labo (BNKL) had a debt-to-equity ratio of -3.05 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bionik Labo's return on assets (ROA)?

Bionik Labo (BNKL) had a return on assets of -147.1% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Bionik Labo's cash runway?

Based on fiscal year 2023 data, Bionik Labo (BNKL) had $427K in cash against an annual operating cash burn of $3.4M. This gives an estimated cash runway of approximately 2 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.

Why is Bionik Labo's debt-to-equity ratio negative or unusual?

Bionik Labo (BNKL) has negative shareholder equity of -$1.6M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Bionik Labo's Piotroski F-Score?

Bionik Labo (BNKL) 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 Bionik Labo's earnings high quality?

Bionik Labo (BNKL) has an earnings quality ratio of 0.68x, 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 Bionik Labo cover its interest payments?

Bionik Labo (BNKL) has an interest coverage ratio of -45.0x, 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 Bionik Labo?

Bionik Labo (BNKL) scores 32 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.