BBNX

MKT CAP:$508M

Beta Bionics, Inc.

Market Cap

$508M

Healthcare·Medical - Equipment & Services·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$11.43-$17.82 (-60.92%)

Apr 23, 2026

Company Details

Beta Bionics, Inc., a commercial-stage medical device company, engages in the design, development, and commercialization of solutions to enhance the health and quality of life of insulin-requiring people with diabetes. It offers iLet Bionic...

CEO

Sean T. Saint

IPO Date

Jan 30, 2025

Website

www.betabionics.com

Key Metrics TTM

Revenue

$110M

+57.9% YoY

Net Income

-$66M

EPS (Diluted)

-$1.51

Free Cash Flow

-$51M

Revenue / Share

$2.48

Gross Margin

57.2%

Operating Margin

-70.1%

Net Margin

-60.3%

FCF Margin

-45.9%

P/S

4.6x

P/E

—

Earnings Reports

Q1 2026

Apr 21, 2026

NEW

$28M+56.6%EPS -$0.49

FY 2025

Feb 24, 2026

$100M+53.9%EPS -$1.81

Q4 2025

Feb 24, 2026

$32M+57.1%EPS -$0.30

Q3 2025

Oct 28, 2025

$27M+63.1%EPS -$0.33

Q2 2025

Jul 29, 2025

$23M+54.4%EPS -$0.39

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 23	$3M	$1M	-$9M
Q4 23	$8M	$5M	-$8M
Q1 24	$13M	$7M	-$9M
Q2 24	$15M	$8M	-$12M
Q3 24	$17M	$9M	-$11M
Q4 24	$20M	$12M	-$13M
Q1 25	$18M	$9M	-$19M
Q2 25	$23M	$13M	-$20M
Q3 25	$27M	$15M	-$17M
Q4 25	$32M	$19M	-$16M
Q1 26	$28M	$16M	-$24M

Valuation

Quarter	P/S	P/E
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	17.7x	—
Q3 24	13.2x	—
Q4 24	10.7x	—
Q1 25	7.6x	—
Q2 25	8.1x	—
Q3 25	9.8x	—
Q4 25	13.6x	—
Q1 26	3.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 23	$0	$0
Q4 23	-$6M	-$7M
Q1 24	-$12M	-$13M
Q2 24	-$12M	-$13M
Q3 24	-$10M	-$12M
Q4 24	-$14M	-$15M
Q1 25	-$20M	-$20M
Q2 25	-$14M	-$15M
Q3 25	-$9M	-$10M
Q4 25	$0	$0
Q1 26	-$24M	-$25M

Capital Expenditures

Quarter	CapEx
Q3 23	$0
Q4 23	$313.0K
Q1 24	$406.0K
Q2 24	$507.0K
Q3 24	$2M
Q4 24	$561.0K
Q1 25	$333.0K
Q2 25	$2M
Q3 25	$1M
Q4 25	$0
Q1 26	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 24	+440.1%	+133.1%
Q4 24	+144.8%	+100.3%
Q1 25	+36.4%	+62.1%
Q2 25	+54.4%	+60.7%
Q3 25	+63.1%	+60.0%
Q4 25	+57.1%	+44.1%
Q1 26	+56.6%	+43.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 23	$1M	40.9%
Q4 23	$2M	18.9%
Q1 24	$1M	10.5%
Q2 24	$1M	10.0%
Q3 24	$0	0.0%
Q4 24	$2M	7.6%
Q1 25	$3M	15.9%
Q2 25	$5M	20.7%
Q3 25	$4M	16.4%
Q4 25	$4M	13.4%
Q1 26	$5M	19.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 23	$4M	$3M	$3M
Q4 23	$4M	$3M	$6M
Q1 24	$5M	$4M	$8M
Q2 24	$6M	$5M	$9M
Q3 24	$5M	$5M	$10M
Q4 24	$9M	$5M	$11M
Q1 25	$8M	$7M	$13M
Q2 25	$9M	$8M	$16M
Q3 25	$8M	$8M	$16M
Q4 25	$10M	$9M	$16M
Q1 26	$10M	$10M	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$27M	$70M	$97M
Q1 24	$97M	$0	$97M
Q3 24	$17M	$43M	$61M
Q4 24	$30M	$73M	$104M
Q1 25	$42M	$189M	$231M
Q2 25	$35M	$215M	$250M
Q3 25	$38M	$190M	$229M
Q4 25	$32M	$188M	$219M
Q1 26	$30M	$169M	$200M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 23	5M	—	—
Q4 23	6M	+19.1%	—
Q1 24	30M	+405.9%	—
Q2 24	43M	+42.1%	—
Q3 24	43M	0.0%	+756.3%
Q4 24	43M	0.0%	+619.2%
Q1 25	31M	-29.1%	+0.7%
Q2 25	43M	+41.3%	+0.1%
Q3 25	44M	+0.6%	+0.7%
Q4 25	41M	-7.1%	-6.5%
Q1 26	44M	+9.6%	+44.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$25.6K	800
Q1 25	$22.0K	800
Q2 25	$29.0K	800
Q3 25	$34.1K	800
Q4 25	$76.5K	420
Q1 26	$65.8K	420

Revenue / Employee