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Bicycle Therapeutics plc(BCYC)Earnings, Financials & Key Ratios
BCYC•NASDAQ
$4.38
Price updated Jul 7, 2026
AboutBicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease. The company's oncology product candidates also comprise BT5528, a BTC that is in a Phase I/II clinical trial targeting EphA2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4. In addition, it is developing THR-149, a plasma kallikrein inhibitor that completed Phase II clinical trials for the treatment of diabetic macular edema; BT7480, a Bicycle tumor-targeted immune cell agonist (TICA) targeting Nectin-4 and agonizing; BT7455, an EphA2/CD137 Bicycle TICA, which is in preclinical studies; and BT1718, a BTC that target tumors, that is in Phase I/IIa clinical trial that express Membrane Type 1 matrix metalloproteinase. Further, the company collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas, such as anti-infective, cardiovascular, ophthalmology, and respiratory indications. It has a clinical trial and license agreement with the Cancer Research Technology Limited and Cancer Research UK; research collaboration agreements with AstraZeneca, Sanofi, Oxurion, and the Dementia Discovery Fund; and discovery collaboration and license agreement with Genentech for the discovery and development of Bicycle peptides for multiple immuno-oncology targets. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.Show more
- Revenue$73M+105.8%
- EBITDA-$241M-19.0%
- Net Income-$219M-29.5%
- EPS (Diluted)-3.16-9.0%
- Gross Margin100%+125.6%
- EBITDA Margin-332.43%+42.1%
- Operating Margin-341.28%+42.6%
- Net Margin-301.66%+37.0%
- ROE-31.21%-7.5%
BCYC Price & Volume
Bicycle Therapeutics plc (BCYC) stock price & volume — 10-year historical chart
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Clinical Development Costs Outpace Milestone Revenue
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Binary clinical trial outcomes
Key Thesis Takeaways
- Bicycle Therapeutics remains a high-risk, binary-outcome biotechnology play heavily reliant on its proprietary peptide platform to drive future value.
- While the company maintains a robust liquidity position, the lack of sustainable commercial revenue and persistent operating losses of $65.6 million in 2026Q1 underscore the significant execution risk inherent in its late-stage clinical pipeline.
- Investors should monitor the company's ability to convert its $37.1 million deferred revenue backlog into cash while managing an accumulated deficit that has reached $960.6 million.
Verdict Logic
the company's reliance on unpredictable milestone payments and a consistent quarterly cash burn of over $60 million suggests that the current $559.5 million cash position may be insufficient to reach long-term commercial viability without further dilution.
BCYC Growth Metrics
Bicycle Therapeutics plc (BCYC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years47.52%
3 Years71.21%
TTM146.85%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-7.78%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-0.64%
Return on Capital
10 Years-47.45%
5 Years-31.27%
3 Years-34.88%
Last Year-31.96%
BCYC Recent Earnings
Bicycle Therapeutics plc (BCYC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 30, 2026Metric
Actual
Est
EPS
$0.87-67.3%
$0.52
Rev
$900,000-88.0%
$8M
Q2 2026
Mar 17, 2026Metric
Actual
Est
EPS
$0.29+69.1%
$0.94
Rev
$48M+581.6%
$7M
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$0.85+22.0%
$1.09
Rev
$12M+65.8%
$7M
Q3 2025
Aug 8, 2025Metric
Actual
Est
EPS
$1.14-20.0%
$0.95
Rev
$3M-65.2%
$8M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.87vs $0.52-67.3% | $900,000vs $8M-88.0% |
| Q2 2026 | Mar 17, 2026 | $0.29vs $0.94+69.1% | $48Mvs $7M+581.6% |
| Q4 2025 | Oct 30, 2025 | $0.85vs $1.09+22.0% | $12Mvs $7M+65.8% |
| Q3 2025 | Aug 8, 2025 | $1.14vs $0.95-20.0% | $3Mvs $8M-65.2% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Bicycle Therapeutics plc (BCYC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $4.38 | $303.37M | -1.39 | 105.77% | -301.66% | -31.21% | — | |
| $2.05 | $141.8M | -0.97 | — | — | -59.89% | — | |
| $3.48 | $15.07M | -3.19 | 3.7% | -264.73% | -62.1% | — | |
| $323.95 | $9.36B | -24.03 | -100% | — | -43.02% | — | |
| $52.95 | $4.77B | -51.41 | — | — | -20.02% | — | |
| $44.01 | $2.62B | -6.18 | 48.03% | -639.84% | -34.11% | — |
Compare BCYC vs Peers
Bicycle Therapeutics plc (BCYC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BCYC SEC Filings & Documents
Bicycle Therapeutics plc (BCYC) SEC filings — annual & quarterly reports (10-K, 10-Q)
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BCYC Frequently Asked Questions
Bicycle Therapeutics plc (BCYC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Bicycle Therapeutics plc's revenue?
Bicycle Therapeutics plc (BCYC) reported $63.5M in revenue for fiscal year 2025.
How fast is Bicycle Therapeutics plc growing?
Bicycle Therapeutics plc (BCYC) grew revenue by 105.8% over the past year. This is strong growth.
Is BCYC profitable?
Bicycle Therapeutics plc (BCYC) reported a net loss of $219.0M for fiscal year 2025.
Dividend & Returns
What is BCYC's return on equity?
Bicycle Therapeutics plc (BCYC) has a return on equity (ROE) of -31.2%. Negative ROE indicates the company is unprofitable.
What is Bicycle Therapeutics plc's free cash flow?
Bicycle Therapeutics plc (BCYC) had negative free cash flow of $229.0M in fiscal year 2025, likely due to heavy capital investments.