Beta Bionics reports Q3 EPS (33c), consensus (41c)

Reports Q3 revenue $27.3M, consensus $24.0M. Reports Q3: Gross margin of 55.5%, up 212 basis points compared to 53.4% in the third quarter of 2024. Installed customer base (calculated as all new patient starts over a rolling four-year period) of 29,419 users, up 162% compared to 11,214 in the third quarter of 2024. 5,334 new patient starts, up 68% compared to 3,180 new patient starts in the third quarter of 2024. 70% of new patient starts came from multiple daily injections (MDI). Low 30s percentage of new patient starts reimbursed through the PBP channel.