BNB Plus (BNBX) AI Stock Analysis

• Market Cap: $4.03M
• Dividend Yield: N/A
• Average Volume (3M): 1.96M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.94
• Revenue Growth: -21.79%
• EPS Growth: 86.75%
• Country: US
• Employees: 46
• Sector: Financial
• Sector Strength: 70
• Industry: Biotechnology
• EPS (TTM): -2.08
• Shares Outstanding: 5,447,469
• 10 Day Avg. Volume: 46,292
• 30 Day Avg. Volume: 1,955,224
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 0.94
• P/FCF Ratio: -0.16
• Enterprise Value/Market Cap: -0.34
• Enterprise Value/Revenue: -0.67
• Enterprise Value/Gross Profit: -2.89
• Enterprise Value/Ebitda: 0.05
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -82.5
• Revenue Forecast (FY): $7.40M

• Rating: 42 Neutral
• Price Target: $0.77 ▼(-48.18% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is pressured most by weak financial performance (declining revenue, heavy losses, and ongoing cash burn) and bearish technicals (price below major moving averages with negative MACD). Valuation provides limited support due to negative earnings and no dividend, while the earnings call adds only modest offset from restructuring progress and revenue/operating-loss improvement against ongoing going-concern risk.

Positive Factors

Low Financial Leverage

A debt-to-equity near 0.08 materially reduces short-term solvency risk and gives management flexibility to execute restructuring or fund strategic initiatives without immediate refinancing pressure. This structural balance-sheet cushion lengthens runway versus higher-leverage peers.

GMP Site Certification

Completed GMP certification enables scaled, compliant production of DNA products—a structural capability that supports longer-term revenue contracts, higher margin commercial supply, and deeper customer relationships, improving sustainable commercial prospects.

Strategic Pivot & Growing Pipeline

Refocusing resources on LineaRx and an expanding project base (25+ engagements, multiple expected to enter clinic) represents a durable shift to a higher-growth, productized DNA manufacturing business with clearer commercialization pathways and recurring service revenue potential.

Negative Factors

Negative Operating Cash Flow

Sustained negative operating cash flow of ~$14.7M TTM indicates ongoing cash burn that will require external financing or asset sales. This structural cash gap constrains R&D, commercialization pacing and increases dilution or leverage risk over the medium term.

Substantial Doubt / Going Concern

A formal going-concern disclosure signals persistent funding shortfalls and raises the probability management must raise capital under unfavorable terms. That structural risk limits strategic optionality and can impair long-term partnerships and hiring as stakeholders weigh viability.

Declining Revenue & Margin Compression

A multi-quarter trend of falling revenue and compressed gross margins undermines operating leverage and makes reaching break-even harder. Structural revenue decline and margin pressure reduce reinvestment capacity and heighten sensitivity to competitive pricing or cost shocks.

BNB Plus Business Overview & Revenue Model

Company Description

BNB Plus Corp. is a biotechnology company, which engages in the development and commercialization of technologies to produce and detect deoxyribonucleic acid and ribonucleic acid. It operates through the following segments: Therapeutic DNA Production Services, MDx Testing Services, and DNA Tagging and Security Products and Services. The Therapeutic DNA Production Services segment consists of the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNAP for use in the production of mRNA therapeutics. The MDx Testing Services segment develops clinical molecular diagnostic and genetic tests and clinical laboratory testing services. The DNA Tagging and Security Products and Services segment is involved in the detection of DNA for industrial supply chains and security services. The company was founded in 1983 and is headquartered in Stony Brook, NY.

How the Company Makes Money

Applied DNA Sciences generates revenue through the sale of its proprietary DNA-based solutions and services. The company earns money by providing DNA tagging and authentication services to businesses in various industries, including pharmaceuticals, textiles, and consumer goods. Additionally, APDN collaborates with partners in sectors like government and law enforcement to deliver security solutions. Key revenue streams include service fees for DNA tagging and authentication, as well as licensing fees from strategic partnerships. APDN's earnings are significantly influenced by its ability to secure contracts with major companies and government agencies, as well as its continued innovation in DNA technology applications.

BNB Plus Financial Statement Overview

Summary

Financials are dominated by deteriorating fundamentals: TTM revenue declined (-23.52%), profitability is deeply negative (EBIT margin -6.03%, net margin -5.65%), and cash burn remains heavy (TTM operating cash flow -$14.7M; free cash flow -$14.9M). Low leverage (debt-to-equity ~0.08) helps reduce near-term balance-sheet stress, but persistent losses and negative ROE (-1.85%) keep overall financial quality weak.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined (-23.52%) and profitability remains deeply negative, with large operating losses (EBIT margin -6.03%) and a very weak net margin (-5.65%). Gross margin is positive (28.45%), but it has compressed versus the latest annual period (39.26%), suggesting weaker pricing/mix or higher costs. Overall, the business is not close to operating break-even and results have worsened versus the prior year annual net margin (-2.04%).

Balance Sheet

Leverage is low, with modest debt relative to equity (debt-to-equity ~0.08 in both TTM (Trailing-Twelve-Months) and the latest annual period), which reduces near-term solvency risk. However, shareholder returns are sharply negative (TTM return on equity -1.85%), reflecting significant losses. The balance sheet provides some cushioning, but persistent losses can pressure equity over time if funding needs continue.

Cash Flow

Cash generation is weak with materially negative operating cash flow (TTM (Trailing-Twelve-Months) -$14.7M) and negative free cash flow (TTM -$14.9M), indicating ongoing cash burn. While free cash flow growth is reported positive in TTM (16.38%), absolute cash flow remains meaningfully negative, implying continued reliance on external financing. A positive free cash flow to net income ratio (~1.03) mainly reflects that both figures are negative rather than healthy cash conversion.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	2.05M	2.14M	3.43M	13.37M	18.17M	9.03M
Gross Profit	474.56K	838.91K	1.02M	5.53M	5.05M	4.93M
EBITDA	-26.27M	-15.66M	-13.33M	-9.59M	-12.68M	-11.68M
Net Income	-31.11M	-15.16M	-6.99M	-9.95M	-8.38M	-16.03M
Balance Sheet
Total Assets	20.70M	4.44M	12.79M	13.65M	22.27M	14.42M
Cash, Cash Equivalents and Short-Term Investments	2.45M	1.67M	6.43M	7.15M	15.22M	6.55M
Total Debt	48.86K	193.25K	739.16K	1.24M	0.00	0.00
Total Liabilities	2.24M	2.50M	3.82M	8.78M	9.36M	3.30M
Stockholders Equity	18.84M	2.30M	9.14M	4.95M	12.91M	11.11M
Cash Flow
Free Cash Flow	-15.12M	-12.83M	-14.12M	-6.30M	-9.47M	-15.94M
Operating Cash Flow	-14.92M	-12.52M	-13.71M	-6.22M	-8.98M	-13.39M
Investing Cash Flow	-3.14M	-292.12K	-407.90K	-1.10M	-489.55K	-2.55M
Financing Cash Flow	11.06M	8.05M	13.40M	0.00	18.13M	14.70M

BNB Plus Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNBX, the sentiment is Negative. The current price of 1.48 is above the 20-day moving average (MA) of 0.98, below the 50-day MA of 1.49, and below the 200-day MA of 3.73, indicating a bearish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 30.71 is Neutral, neither overbought nor oversold. The STOCH value of 34.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNBX.

BNB Plus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
MYNZ	48 Neutral	$5.54M	―	―	―	―	―
INBS	44 Neutral	$6.64M	-0.27	-146.12%	―	3.26%	65.96%
NDRA	42 Neutral	$4.50M	-0.28	-236.34%	―	―	98.86%
BNBX	42 Neutral	$4.03M	>-0.01	-259.18%	―	-21.79%	86.75%
ISPC	41 Neutral	$2.51M	-0.04	-296.20%	―	-67.73%	58.35%

BNB Plus Corporate Events

BNB Plus Appoints Digital Asset Veteran to Board

On February 2, 2026, BNB Plus Corp. filled a board vacancy created by the resignation of a prior director by appointing digital asset veteran James Haft as an independent director and member of its Nominating Committee, a move announced publicly on February 5, 2026. Haft’s compensation package includes a $40,000 cash fee and stock options for 93,000 shares vesting over four dates through February 2, 2027, along with eligibility for future equity grants and coverage under the company’s standard indemnification agreement. With more than 35 years of experience across blockchain infrastructure, emerging markets and traditional finance, and a track record that includes founding digital-asset-focused merchant banking and blockchain education platforms, Haft is expected to bolster BNB Plus’s governance and strategic expertise as it scales its BNB treasury operations and DeFi yield capabilities, while the company has disclosed that his only related-party connection is an arm’s-length investment in an October 2025 PIPE by a fund co-founded by his son in which Haft has no management role.

BNB Plus Announces Routine Board Director Resignation

On January 15, 2026, BNB Plus Corp. announced that director Elizabeth M. Schmalz Shaheen resigned from the company’s board, effective immediately. The company stated that her departure did not stem from any disagreement regarding its operations, policies or practices, suggesting the change reflects a routine governance transition rather than signaling strategic or operational conflict for stakeholders.

Applied DNA Sciences Approves Key Stockholder Proposals

On December 12, 2025, Applied DNA Sciences held a special meeting of stockholders where several key proposals were approved. These included the exercisability of certain pre-funded warrants and common stock purchase warrants, an amendment to increase the number of authorized shares of Common Stock from 200,000,000 to 500,000,000, and an amendment to the 2020 Equity Incentive Plan to increase the number of authorized shares reserved for issuance by 5,000,000 shares. These approvals are expected to impact the company’s operations by potentially expanding its capital structure and enhancing its equity incentive offerings.