BBNXBeta Bionics, Inc.
Is the business good?
How good a business is BBNX?
Beta Bionics, Inc. earns −86% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 95 points below what the capital costs: growth destroys value
- Operating margin
- −70%
Operating margin · Medical Devices median 0.61% · 12 months to Q2 2026
- Share count, year on year
- +2.7%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 33%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2023 | −299% |
| FY2024 | −69% |
| FY2025 | −72% |
Details›
- Gross margin12 months to Q2 2026
- 58%
- Operating margin12 months to Q2 2026
- −70%
- Net margin12 months to Q2 2026
- −61%
- Free cash flow margin
- −52%
- R&D as % of revenue
- 33%
- Revenue, trailing twelve months
- $119M
- Free cash flow, trailing twelve months
- −$61M
- Net income, trailing twelve months
- −$73M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −86%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from BBNX and who it buys from, as the companies report it.
- Distributor A14%
Share of revenue · FY2025 10-K
- Distributor G13%
Share of revenue · FY2025 10-K
- Distributor B13%
Share of revenue · FY2025 10-K
- Distributor D12%
Share of revenue · FY2025 10-K
- Distributor H12%
Share of revenue · FY2025 10-K
- Distributor C11%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; BBNX’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Medical Devices
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