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Beta Bionics, Inc.
(NASDAQ:BBNX)
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Rating:52Neutral
Price Target:
$16.50
▲(4.10% Upside)
Action:Reiterated
Date:08/05/26
BBNX scores in the low-to-mid range primarily due to heavy ongoing losses and persistent cash burn despite rapid revenue growth and improving gross margins, which create meaningful profitability and funding-execution risk. Earnings-call commentary and guidance are a relative positive (reiterated revenue outlook and raised gross margin guidance), but technicals remain weak with negative MACD and the stock trading below key moving averages. Valuation provides limited support given the negative P/E and no dividend yield data.
Positive Factors
Revenue growth & margin expansion
Sustained double-digit top-line growth with a materially higher gross margin indicates strong product-market fit and improving unit economics. Over months, higher margins reduce the revenue level needed for break-even and support scalable profitability if growth persists and cost structure stabilizes.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow requires ongoing external financing or drawdown of reserves. Over a multi-month horizon, sustained cash burn constrains strategic optionality, increases dilution risk, and pressures management to convert improving margins into positive operating cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & margin expansion
Sustained double-digit top-line growth with a materially higher gross margin indicates strong product-market fit and improving unit economics. Over months, higher margins reduce the revenue level needed for break-even and support scalable profitability if growth persists and cost structure stabilizes.
Read all positive factors
Beta Bionics, Inc. Key Performance Indicators (KPIs)
Any
Revenue by Product
Shows how sales are split among devices, consumables, software, and service offerings, making it clear which products drive top-line growth and margins. Heavy reliance on a single product increases vulnerability to demand shocks or regulatory setbacks, whereas a balanced mix points to diversified revenue streams and opportunity for higher-margin upsells.
Shows how sales are split among devices, consumables, software, and service offerings, making it clear which products drive top-line growth and margins. Heavy reliance on a single product increases vulnerability to demand shocks or regulatory setbacks, whereas a balanced mix points to diversified revenue streams and opportunity for higher-margin upsells.
Data provided by:
The Fly
The FlyBeta Bionics, Inc. (BBNX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$792.72M
Dividend YieldN/A
Average Volume (3M)1.02M
Price to Earnings (P/E)―
Beta (1Y)1.27
Revenue Growth52.54%
EPS Growth2.69%
CountryUS
Employees422
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.65
Shares Outstanding44,989,690
10 Day Avg. Volume1,123,658
30 Day Avg. Volume1,018,382
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)4.29
Price to Sales (P/S)12.32
P/FCF Ratio-21.97
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$21.43Price Target Upside35.17% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-2.14
Revenue Forecast (FY)$133.81M
Beta Bionics, Inc. Business Overview & Revenue Model
Company Description
Beta Bionics, Inc. is a commercial-stage medical technology company dedicated to inventing, developing, and bringing to market solutions that improve the health and quality of life for individuals with diabetes who depend on insulin. The company's...
How the Company Makes Money
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Beta Bionics, Inc. Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
Overall the call emphasized strong commercial momentum (38% YoY revenue growth), meaningful year‑over‑year margin improvement, a healthy cash position (~$225M), and tangible progress across the innovation pipeline (Mint manufacturing readiness, Type 2 pivotal trial alignment, bihormonal iteration plan). Offsetting factors include elevated operating expenses (37% YoY), Q2 operating expenses exceeding revenue, ongoing FDA remediation work, some near‑term revenue volatility from pharmacy stocking dynamics, and timing/clearance risks for new products. Taken together, the positives around growth, margin expansion, capital runway, and concrete product progress modestly outweigh the near‑term cost and regulatory risks.Positive Updates
Strong Q2 Revenue Growth
Net sales of $32.0 million in Q2 2026, representing approximately 38% year-over-year growth, driven by new patient starts and recurring pharmacy supply purchases.
Negative Updates
Operating Expenses Exceed Quarter Revenue
Total operating expenses of $44.5 million in Q2 2026, up 37% year‑over‑year; operating expense in the quarter exceeded net sales ($32.0 million), highlighting continued investment and negative operating leverage in the near term.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Q2 Revenue Growth
Net sales of $32.0 million in Q2 2026, representing approximately 38% year-over-year growth, driven by new patient starts and recurring pharmacy supply purchases.
Read all positive updates
Company Guidance
Beta Bionics reiterated full‑year 2026 revenue guidance of $131–$136 million and expects 37%–39% of new patient starts to be reimbursed through the pharmacy channel, while raising full‑year gross margin guidance to 58.5%–59.5% (up from prior 57.5%–59.5%) after reporting Q2 net sales of $32 million (+~38% YoY), Q2 gross margin of 59.0% (↑524 bps YoY, -45 bps QoQ), Q2 operating expenses of $44.5 million (+37% YoY), and sequential new patient starts growth of >10%–<20% (≈69% of starts from prior MDI users and a "high‑30s%" share of starts via pharmacy in Q2); the company ended June 30 with about $225 million in cash and investments, added at least 20 sales territories in H1 (expected to contribute in H2), expects a modest increase in OpEx in the second half (primarily sales and R&D) but no further field expansion in H2, and reaffirmed manufacturing readiness and timing for Mint (targeting full commercial launch by end‑Q2 2027, subject to FDA clearance), a Type 2 indication around mid‑2027, and <1 year of iterations before additional bihormonal Phase 2a trials.Beta Bionics, Inc. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 119.01M | 100.25M | 65.12M | 11.99M | 179.00K |
| Gross Profit | 69.40M | 55.54M | 35.89M | 6.31M | 179.00K |
| EBITDA | -71.74M | -70.32M | -53.60M | -42.87M | -63.40M |
| Net Income | -72.97M | -73.20M | -54.76M | -44.10M | -64.75M |
Balance Sheet | |||||
| Total Assets | 292.39M | 328.74M | 149.65M | 110.04M | 35.53M |
| Cash, Cash Equivalents and Short-Term Investments | 180.49M | 219.13M | 103.58M | 96.75M | 27.68M |
| Total Debt | 6.51M | 7.30M | 7.25M | 4.22M | 4.13M |
| Total Liabilities | 36.02M | 41.13M | 73.63M | 51.43M | 205.56M |
| Stockholders Equity | 256.37M | 287.61M | 76.01M | 58.61M | -170.03M |
Cash Flow | |||||
| Free Cash Flow | -61.41M | -56.22M | -51.67M | -32.85M | -60.98M |
| Operating Cash Flow | -55.81M | -50.92M | -48.27M | -32.45M | -60.21M |
| Investing Cash Flow | 58.92M | -162.81M | -3.48M | -69.69M | -769.00K |
| Financing Cash Flow | 6.14M | 214.87M | 55.62M | 101.03M | 56.78M |
Beta Bionics, Inc. Risk Analysis
Beta Bionics, Inc. disclosed 87 risk factors in its most recent earnings report. Beta Bionics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beta Bionics, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $26.15B | 26.58 | 11.57% | 0.97% | 6.41% | 33.31% | |
69 Neutral | $4.58B | 48.66 | 4.10% | ― | 11.89% | 85.76% | |
59 Neutral | $1.86B | -19.71 | -15.53% | ― | -2.09% | 91.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | $1.63B | -25.24 | -45.97% | ― | 3.92% | 70.03% | |
52 Neutral | $792.72M | -10.32 | -26.30% | ― | 52.54% | 2.69% | |
47 Neutral | $1.13B | -4.96 | -134.49% | ― | ― | 28.46% |
* General Sector Average
BBNX
Beta Bionics, Inc.
17.33
2.23
14.77%
LH
Labcorp Holdings
323.48
53.79
19.94%
TNDM
Tandem Diabetes Care
23.44
12.31
110.60%
NVST
Envista Holdings
28.71
7.15
33.16%
SANA
Sana Biotechnology
3.77
0.44
13.21%
FTRE
Fortrea Holdings Inc.
18.33
10.49
133.80%
Beta Bionics, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
Beta Bionics Stockholders Approve Directors and Auditor Ratification
Positive
May 22, 2026
On May 21, 2026, Beta Bionics, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected two Class I directors, Sean D. Carney and Christy Jones, to serve until the 2029 Annual Meeting or until earlier departure. The vote total...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Beta Bionics Targets 2027 Commercial Launch of Mint Pump
Positive
May 21, 2026
On May 21, 2026, Beta Bionics announced it plans to fully commercialize Mint, its patch insulin pump in development, by the end of the second quarter of 2027, contingent on FDA clearance as an alternate controller enabled insulin pump. The company...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.