BBNX Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2023βFY2025
Beta Bionics, Inc. had $100M of revenue in fiscal 2025, up 53.9% on the year before.
Last close Β· Oct 23, 2026
$19.16
0.9%Hi! I read Beta Bionics, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+53.9%
Yes. Sales grew 53.9% last year.
Does it make a profit?
β73.0%
No. It lost money last year.
Does profit turn into cash?
β56.1%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Beta Bionics, Inc. had $100M of revenue in fiscal 2025, up 53.9% on the year before. Its operating margin was β71.5%, down 2.0Β pts: of every 100 in sales, about β72 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Beta Bionics, Inc. lost $73.2M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$56.2M in fiscal 2025, β56.1% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $4.6M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$4.6M
8 insiders
Of sales under plans
68%
$3.1M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 14, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 775 | $17.35 | $0.0M | Form 4 |
| Oct 1, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 370 | $18.96 | $0.0M | Form 4 |
| Sep 22, 2026 | Christy JonesDirector | Sold plan | 6,430 | $23.00 | $0.1M | Form 4 |
| Sep 16, 2026 | Mike MensingerChief Product Officer | Sold plan | 2,650 | $22.00 | $0.1M | Form 4 |
| Sep 16, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 30,779 | $20.13 | $0.6M | Form 4 |
| Sep 14, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 775 | $15.52 | $0.0M | Form 4 |
| Sep 9, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 36,870 | $18.46 | $0.7M | Form 4 |
| Sep 3, 2026 | Sean SaintPresident & CEO, Director | Sold plan | 5,641 | $20.08 | $0.1M | Form 4 |
| Sep 2, 2026 | Steven Jon RussellChief Medical Officer | Sold | 4,221 | $19.11 | $0.1M | Form 4 |
| Sep 2, 2026 | Sean SaintPresident & CEO, Director | Sold | 16,867 | $19.11 | $0.3M | Form 4 |
| Sep 2, 2026 | Mike MensingerChief Product Officer | Sold | 4,375 | $19.11 | $0.1M | Form 4 |
| Sep 2, 2026 | Mark HopmanChief Commercial Officer | Sold | 5,327 | $19.11 | $0.1M | Form 4 |
| Sep 2, 2026 | Stephen FeiderChief Financial Officer | Sold | 6,675 | $19.11 | $0.1M | Form 4 |
| Jun 29, 2026 | Stephen FeiderChief Financial Officer | Sold plan | 4,896 | $17.03 | $0.1M | Form 4 |
| Jun 26, 2026 | Stephen FeiderChief Financial Officer | Sold plan | 5,104 | $17.05 | $0.1M | Form 4 |
| Jun 24, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 1,258 | $15.01 | $0.0M | Form 4 |
| Jun 24, 2026 | Christy JonesDirector | Sold plan | 1,406 | $15.00 | $0.0M | Form 4 |
| Jun 4, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 275 | $12.31 | $0.0M | Form 4 |
| Jun 4, 2026 | Christy JonesDirector | Sold plan | 2,811 | $14.00 | $0.0M | Form 4 |
| Jun 2, 2026 | Mark HopmanChief Commercial Officer | Sold | 5,329 | $12.61 | $0.1M | Form 4 |
| Jun 2, 2026 | Sean SaintPresident & CEO, Director | Sold | 16,872 | $12.61 | $0.2M | Form 4 |
| Jun 2, 2026 | Steven Jon RussellChief Medical Officer | Sold | 4,222 | $12.61 | $0.1M | Form 4 |
| Jun 2, 2026 | Stephen FeiderChief Financial Officer | Sold | 6,676 | $12.61 | $0.1M | Form 4 |
| Jun 2, 2026 | Mike MensingerChief Product Officer | Sold | 4,378 | $12.61 | $0.1M | Form 4 |
| May 22, 2026 | Adam LezackDirector | Sold plan | 998 | $11.21 | $0.0M | Form 4 |
| May 21, 2026 | Adam LezackDirector | Sold plan | 1,000 | $9.95 | $0.0M | Form 4 |
| May 21, 2026 | Christy JonesDirector | Sold plan | 1,998 | $9.95 | $0.0M | Form 4 |
| Mar 4, 2026 | Mark HopmanChief Commercial Officer | Sold plan | 353 | $11.57 | $0.0M | Form 4 |
| Mar 2, 2026 | Mike MensingerChief Product Officer | Sold | 1,064 | $12.36 | $0.0M | Form 4 |
| Mar 2, 2026 | Stephen FeiderChief Financial Officer | Sold | 1,428 | $12.36 | $0.0M | Form 4 |
| Mar 2, 2026 | Sean SaintPresident & CEO, Director | Sold | 3,384 | $12.36 | $0.0M | Form 4 |
| Mar 2, 2026 | Steven Jon RussellChief Medical Officer | Sold | 1,026 | $12.36 | $0.0M | Form 4 |
| Mar 2, 2026 | Mark HopmanChief Commercial Officer | Sold | 834 | $12.36 | $0.0M | Form 4 |
| Jan 6, 2026 | Mike MensingerChief Product Officer | Sold plan | 2,200 | $30.10 | $0.1M | Form 4 |
| Jan 2, 2026 | Mike MensingerChief Product Officer | Sold plan | 7,800 | $29.61 | $0.2M | Form 4 |
| Jan 2, 2026 | Stephen FeiderChief Financial Officer | Sold plan | 20,000 | $29.53 | $0.6M | Form 4 |
| Dec 4, 2025 | Mark HopmanChief Commercial Officer | Sold plan | 2,061 | $30.66 | $0.1M | Form 4 |
| Dec 2, 2025 | Stephen FeiderChief Financial Officer | Sold | 1,427 | $29.34 | $0.0M | Form 4 |
| Dec 2, 2025 | Sean SaintPresident & CEO, Director | Sold | 3,278 | $29.34 | $0.1M | Form 4 |
| Dec 2, 2025 | Mike MensingerChief Product Officer | Sold | 1,063 | $29.34 | $0.0M | Form 4 |
| Dec 2, 2025 | Mark HopmanChief Commercial Officer | Sold plan | 856 | $29.34 | $0.0M | Form 4 |
| Dec 2, 2025 | Steven Jon RussellChief Medical Officer | Sold | 1,025 | $29.34 | $0.0M | Form 4 |
| Dec 1, 2025 | Maria PalasisDirector | Sold plan | 1,406 | $29.55 | $0.0M | Form 4 |
| Dec 1, 2025 | Adam LezackDirector | Sold plan | 1,406 | $29.55 | $0.0M | Form 4 |
| Oct 31, 2025 | Adam LezackDirector | Sold plan | 1,406 | $26.87 | $0.0M | Form 4 |
| Oct 31, 2025 | Maria PalasisDirector | Sold plan | 1,406 | $26.91 | $0.0M | Form 4 |
| Oct 3, 2025 | Stephen FeiderChief Financial Officer | Sold plan | 4,982 | $21.70 | $0.1M | Form 4 |
| Oct 1, 2025 | Stephen FeiderChief Financial Officer | Sold plan | 15,018 | $20.76 | $0.3M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Beta Bionics, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $96.7M | $104M | $219M |
| Current ratio | 9.8x | 6.3x | 8.7x |
| Quick ratio | 9.7x | 5.7x | 8.0x |
| Total assets | $110M | $150M | $329M |
| Total liabilities | $51.4M | $73.6M | $41.1M |
| Shareholders' equity | β$203M | β$245M | $288M |
| Net debt (β = net cash) | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Beta Bionics, Inc. passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 3 | 4 / 8 | 4 / 8 |
| Accruals ratio | β10.6% | β5.0% | β9.3% |
| Altman Z'' | β7.59 | β7.10 | 6.94 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $12.0M | $65.1M | $100M |
| Gross profit | $6.3M | $35.9M | $55.5M |
| Research and development | $17.9M | $26.2M | $34.8M |
| Operating income | β$35.9M | β$45.3M | β$71.7M |
| Income tax | β | $0.0M | $0.0M |
| Net income | β$44.1M | β$54.8M | β$73.2M |
| Diluted EPS | β$8.31 | β$8.60 | β$1.81 |
| Diluted shares | 0.01B | 0.01B | 0.04B |
| Cash flow | |||
| Cash from operations | β$32.4M | β$48.3M | β$50.9M |
| Capital expenditure | $0.4M | $3.4M | $5.3M |
| Free cash flow | β$32.8M | β$51.7M | β$56.2M |
| Depreciation and amortization | $1.2M | $1.2M | $1.6M |
| Stock-based compensation | $5.7M | $6.4M | $16.4M |
| Balance sheet | |||
| Cash and short-term investments | $96.7M | $104M | $219M |
| Current assets | $104M | $133M | $268M |
| Current liabilities | $10.6M | $21.1M | $30.9M |
| Inventory | $1.2M | $13.3M | $21.7M |
| Property and equipment, net | $2.5M | $4.8M | $8.6M |
| Total assets | $110M | $150M | $329M |
| Total liabilities | $51.4M | $73.6M | $41.1M |
| Shareholders' equity | β$203M | β$245M | $288M |
| Margins | |||
| Gross margin | 52.6% | 55.1% | 55.4% |
| Operating margin | β298.9% | β69.5% | β71.5% |
| EBITDA margin | β288.7% | β67.7% | β69.9% |
| Net margin | β367.6% | β84.1% | β73.0% |
| FCF margin | β273.8% | β79.3% | β56.1% |
| Returns | |||
| Return on capital employed | β36.1% | β35.2% | β24.1% |
| Return on equity | β | β | β346.5% |
| Return on assets | β40.1% | β42.2% | β30.6% |
| Return on tangible equity | β | β | β25.5% |
| Growth | |||
| Revenue growth | β | 442.9% | 53.9% |
| Share count change | β | 20.0% | 536.7% |
| Financial health | |||
| Current ratio | 9.8x | 6.3x | 8.7x |
| Quick ratio | 9.7x | 5.7x | 8.0x |
| Capital allocation | |||
| Capex / revenue | 3.4% | 5.2% | 5.3% |
| Stock comp / revenue | 47.2% | 9.8% | 16.3% |
| Quality scores | |||
| Piotroski F-score | β | 4.0 | 4.0 |
| Altman Z'' | β7.6 | β7.1 | 6.9 |
| Accruals ratio | β10.6% | β5.0% | β9.3% |
Source: SEC EDGAR XBRL filings (CIK 0001674632). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
