BOUNDLESS BIO INC Financials
This page shows BOUNDLESS BIO INC (BOLD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Boundless Bio’s numbers show a research-driven cash burn model, with FY2025 funded more by asset drawdown than fresh capital.
In FY2025, operating cash burn of-$46.7M stayed close to the net loss of-$58.2M while capital spending was only$546K , so the cash drain still came mainly from research and overhead rather than from maintaining a capital-intensive asset base. What changed versus FY2024 is the funding source: financing cash flow dropped from$89.8M to$141K , and positive investing cash flow of$37.8M filled part of the gap, implying FY2025 was financed largely by using balance-sheet resources instead of raising much new capital.
The near-term balance sheet still looks liquid: current assets of
The FY2025 loss improved because R&D spending eased, not because overhead was broadly cut: research and development fell from
Financial Health Signals
We are recalculating BOUNDLESS BIO INC's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
BOUNDLESS BIO 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).
For every $1 of reported earnings, BOUNDLESS BIO INC generates $0.80 in operating cash flow (-$46.7M OCF vs -$58.2M 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
Earnings & Revenue
BOUNDLESS BIO INC's EBITDA was -$62.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.7% from the prior year.
BOUNDLESS BIO INC reported -$58.2M in net income in fiscal year 2025. This represents an increase of 11.0% from the prior year.
BOUNDLESS BIO INC earned $-2.60 per diluted share (EPS) in fiscal year 2025. This represents an increase of 32.5% from the prior year.
Cash & Balance Sheet
BOUNDLESS BIO INC generated -$47.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 25.5% from the prior year.
BOUNDLESS BIO INC held $17.9M in cash against $0 in long-term debt as of fiscal year 2025.
BOUNDLESS BIO INC had 22M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.
Margins & Returns
BOUNDLESS BIO INC's ROE was -59.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.6 percentage points from the prior year.
Capital Allocation
BOUNDLESS BIO INC invested $44.8M in research and development in fiscal year 2025. This represents a decrease of 18.9% from the prior year.
BOUNDLESS BIO INC invested $546K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 78.5% from the prior year.
BOLD Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | 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 | $9.7M | N/A | $10.7M-12.6% | $12.2M+0.7% | $12.1M | N/A | $14.1M-4.4% | $14.7M |
| SG&A Expenses | $4.7M | N/A | $4.5M-7.6% | $4.8M-6.9% | $5.2M | N/A | $4.6M-0.6% | $4.7M |
| Operating Income | -$14.5M | N/A | -$15.1M+11.2% | -$17.1M+1.6% | -$17.3M | N/A | -$18.7M+3.5% | -$19.4M |
| 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 | -$13.6M | N/A | -$13.9M+11.5% | -$15.7M+0.5% | -$15.8M | N/A | -$16.5M+2.8% | -$17.0M |
| EPS (Diluted) | $-0.60 | N/A | $-0.62+11.4% | $-0.70+1.4% | $-0.71 | N/A | $-0.74+3.9% | $-0.77 |
BOLD Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $141.0M-10.2% | $157.1M-6.9% | $168.7M-6.0% | $179.5M-6.2% | $191.2M-7.3% | $206.4M+17.9% | $175.1M-7.0% | $188.2M |
| Current Assets | $94.6M-13.7% | $109.6M-8.8% | $120.2M-7.4% | $129.7M-7.6% | $140.4M-9.1% | $154.4M-9.4% | $170.4M-6.9% | $183.1M |
| Cash & Equivalents | $17.5M-2.2% | $17.9M+19.3% | $15.0M+1.9% | $14.7M-2.8% | $15.1M-43.1% | $26.6M-33.9% | $40.2M+28.2% | $31.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 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 | $54.6M-6.5% | $58.4M-0.3% | $58.6M+3.2% | $56.8M+3.9% | $54.6M-2.0% | $55.8M+457.1% | $10.0M+11.8% | $9.0M |
| Current Liabilities | $9.6M-23.6% | $12.5M+5.8% | $11.8M+28.6% | $9.2M+45.4% | $6.3M-22.1% | $8.1M-18.7% | $10.0M+11.8% | $9.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $86.4M-12.4% | $98.7M-10.5% | $110.2M-10.2% | $122.7M-10.2% | $136.6M-9.3% | $150.6M-8.7% | $165.1M-7.9% | $179.2M |
| Retained Earnings | -$273.2M-5.2% | -$259.7M-5.2% | -$246.8M-6.0% | -$232.9M-7.2% | -$217.2M-7.8% | -$201.5M-8.9% | -$185.0M-9.8% | -$168.5M |
BOLD Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.0M-48.1% | -$10.1M+0.9% | -$10.2M+13.8% | -$11.8M+18.6% | -$14.5M+6.6% | -$15.6M-17.3% | -$13.3M+18.3% | -$16.2M |
| Capital Expenditures | $8K-98.1% | $424K+2726.7% | $15K-68.8% | $48K-18.6% | $59K-87.3% | $466K-3.5% | $483K-67.9% | $1.5M |
| Free Cash Flow | -$15.0M-42.2% | -$10.5M-3.1% | -$10.2M+14.0% | -$11.9M+18.6% | -$14.6M+9.0% | -$16.0M-16.6% | -$13.7M+22.5% | -$17.7M |
| Investing Cash Flow | $14.6M+12.5% | $13.0M+23.8% | $10.5M-7.2% | $11.3M+269.0% | $3.1M+67.9% | $1.8M-91.8% | $22.1M+132.5% | -$68.2M |
| Financing Cash Flow | N/A | $24K | $0 | N/A | N/A | $113K+969.2% | -$13K-100.0% | $90.6M |
| 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 |
BOLD Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -15.7% | N/A | -12.6%+0.2pp | -12.8%-1.2pp | -11.5% | N/A | -10.0%-0.5pp | -9.5% |
| Return on Assets | -9.6% | N/A | -8.2%+0.5pp | -8.7%-0.5pp | -8.2% | N/A | -9.4%-0.4pp | -9.0% |
| Current Ratio | 9.87+1.1 | 8.74-1.4 | 10.14-3.9 | 14.08-8.1 | 22.15+3.2 | 18.98+2.0 | 17.03-3.4 | 20.45 |
| Debt-to-Equity | 0.63+0.0 | 0.59+0.1 | 0.53+0.1 | 0.46+0.1 | 0.40+0.0 | 0.37+0.3 | 0.06+0.0 | 0.05 |
| 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
Is BOUNDLESS BIO INC profitable?
No, BOUNDLESS BIO INC (BOLD) reported a net income of -$58.2M in fiscal year 2025.
What is BOUNDLESS BIO INC's EBITDA?
BOUNDLESS BIO INC (BOLD) had EBITDA of -$62.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is BOUNDLESS BIO INC's return on equity (ROE)?
BOUNDLESS BIO INC (BOLD) has a return on equity of -59.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is BOUNDLESS BIO INC's free cash flow?
BOUNDLESS BIO INC (BOLD) generated -$47.2M in free cash flow during fiscal year 2025. This represents a 25.5% 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 BOUNDLESS BIO INC's operating cash flow?
BOUNDLESS BIO INC (BOLD) generated -$46.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are BOUNDLESS BIO INC's total assets?
BOUNDLESS BIO INC (BOLD) had $157.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are BOUNDLESS BIO INC's capital expenditures?
BOUNDLESS BIO INC (BOLD) invested $546K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does BOUNDLESS BIO INC spend on research and development?
BOUNDLESS BIO INC (BOLD) invested $44.8M in research and development during fiscal year 2025.
What is BOUNDLESS BIO INC's current ratio?
BOUNDLESS BIO INC (BOLD) had a current ratio of 8.74 as of fiscal year 2025, which is generally considered healthy.
What is BOUNDLESS BIO INC's debt-to-equity ratio?
BOUNDLESS BIO INC (BOLD) had a debt-to-equity ratio of 0.59 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BOUNDLESS BIO INC's return on assets (ROA)?
BOUNDLESS BIO INC (BOLD) had a return on assets of -37.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is BOUNDLESS BIO INC's cash runway?
Based on fiscal year 2025 data, BOUNDLESS BIO INC (BOLD) had $17.9M in cash against an annual operating cash burn of $46.7M. 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 BOUNDLESS BIO INC's Piotroski F-Score?
BOUNDLESS BIO INC (BOLD) 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 BOUNDLESS BIO INC's earnings high quality?
BOUNDLESS BIO INC (BOLD) has an earnings quality ratio of 0.80x, 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.