The company's financial position appears increasingly vulnerable, with total equity declining to $271.2 million in 2026Q1 from $313.8 million in 2025Q1 due to the persistent accumulation of losses.
| Total Current Assets | 247.99M | 267.9M | 132.92M | 103.62M | 28.47M |
| Cash & Short-Term Investments | 199.52M | 219.22M | 103.58M | 96.75M | 27.68M |
| Cash Only | 30.21M | 31.68M | 30.43M | 26.57M | 27.68M |
| Short-Term Investments | 169.31M | 187.55M | 73.14M | 70.18M | 0 |
| Accounts Receivable | 17.89M | 17.12M | 12M | 4.45M | 0 |
| Days Sales Outstanding | 50.21 | 62.32 | 67.23 | 135.35 | - |
| Inventory | 23.73M | 21.72M | 13.32M | 1.25M | 0 |
| Days Inventory Outstanding | 160.62 | 177.32 | 166.29 | 79.91 | - |
| Other Current Assets | 6.85M | 9.84M | 1.05M | 275K | 250K |
| Total Non-Current Assets | 56.43M | 60.84M | 16.72M | 6.42M | 7.06M |
| Property, Plant & Equipment | 16.39M | 15.23M | 11.42M | 6.2M | 6.87M |
| Fixed Asset Turnover | 7.53x | 6.58x | 5.70x | 1.94x | 0.03x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 161.77M | 45.43M | 0 | 0 | 0 |
| Other Non-Current Assets | 181K | 180K | 5.3M | 221K | 193K |
| Total Assets | 304.42M | 328.74M | 149.65M | 110.04M | 35.53M |
| Asset Turnover | 0.34x | 0.30x | 0.44x | 0.11x | 0.01x |
| Asset Growth % | 350.21% | 119.68% | 35.99% | 209.74% | - |
| Total Current Liabilities | 23.19M | 30.92M | 21.15M | 10.61M | 8.87M |
| Accounts Payable | 2.32M | 5M | 2.85M | 1.17M | 430K |
| Days Payables Outstanding | 29.37 | 40.8 | 35.61 | 74.84 | - |
| Short-Term Debt | 1.84M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 5.75M | 1.56M | 939K | 0 | 0 |
| Other Current Liabilities | 17.33M | 22.43M | 10.94M | 1.14M | 1.32M |
| Current Ratio | 10.69x | 8.66x | 6.29x | 9.77x | 3.21x |
| Quick Ratio | 9.67x | 7.96x | 5.66x | 9.65x | 3.21x |
| Cash Conversion Cycle | 181.46 | 198.84 | 197.92 | 140.42 | - |
| Total Non-Current Liabilities | 9.98M | 10.21M | 52.48M | 40.83M | 13.65M |
| Long-Term Debt | 5.07M | 5.37M | 0 | 0 | 0 |
| Capital Lease Obligations | 21.31M | 5.37M | 5.73M | 3M | 3.16M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.56M | 1.55M | 44.9M | 37.83M | 10.5M |
| Total Liabilities | 33.17M | 41.13M | 73.63M | 51.43M | 22.53M |
| Total Debt | 6.91M | 12.67M | 7.25M | 4.22M | 4.13M |
| Net Debt | -23.29M | -19.01M | -23.18M | -22.34M | -23.54M |
| Debt / Equity | 0.03x | 0.04x | 0.10x | 0.07x | 0.32x |
| Debt / EBITDA | -0.09x | - | - | - | - |
| Net Debt / EBITDA | 0.30x | - | - | - | - |
| Interest Coverage | - | - | - | - | -4624.57x |
| Total Equity | 271.25M | 287.61M | 76.01M | 58.61M | 13M |
| Equity Growth % | 1061.68% | 278.37% | 29.7% | 350.83% | - |
| Book Value per Share | 6.10 | 7.10 | 11.94 | 11.05 | 2.60 |
| Total Shareholders' Equity | 271.25M | 287.61M | 76.01M | 58.61M | 13M |
| Common Stock | 5K | 4K | 1K | 1K | 1K |
| Retained Earnings | -391.83M | -369.94M | -296.74M | -229.66M | -185.56M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -96K | 403K | 65K | 137K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
According to recent balance sheet data, BBNX has seen its total equity decline from $313.8 million in 2025Q1 to $271.2 million by 2026Q1, reflecting a persistent trend of capital consumption as the company prioritizes aggressive market penetration over the preservation of its underlying balance sheet strength.
The consistent expansion of the accumulated deficit, which reached -$391.8 million in 2026Q1, suggests that the company is trading long-term solvency for immediate commercial growth. Investors should monitor whether this trajectory can stabilize before the current equity base is further eroded by ongoing operational losses.
As reported in financial statements, BBNX's cash position has dwindled to $30.2 million as of 2026Q1, a significant contraction from the $42.5 million held in 2025Q1, which indicates a narrowing buffer against the company's high-burn commercialization strategy and potential unforeseen operational shocks.
While the current ratio of 10.69 appears superficially robust, it is heavily influenced by the composition of current assets that may not be easily liquidated to cover immediate cash obligations. This liquidity profile warrants further investigation into the company's ability to fund its next phase of growth without resorting to dilutive financing.
Based on the company's reported figures, net PPE has grown to $16.4 million in 2026Q1, yet this remains a small fraction of the $304.4 million in total assets, suggesting that the firm's value is primarily tied to intangible development rather than productive, revenue-generating physical infrastructure.
The lack of significant tangible assets implies that the company's valuation is highly sensitive to the successful commercialization of its proprietary algorithm. Any failure to convert these intangible R&D investments into sustained market share could lead to significant asset impairment risks in future periods.
Data from recent filings indicates that the company's equity position is increasingly supported by non-cash accounting entries, as evidenced by the widening gap between total assets and the persistent accumulation of losses, which may mask the true extent of the company's reliance on external capital.
The reliance on equity-based financing to sustain operations suggests that the balance sheet is more fragile than headline figures might imply. Analysts should be wary of the potential for significant shareholder dilution, which appears to be a structural necessity given the current rate of cash burn.
Quick answers to the most common questions about buying BBNX stock.
As of 2025, Beta Bionics, Inc. (BBNX) had total assets of $328.7M including $267.9M in current assets.
Beta Bionics, Inc. (BBNX) carries total debt of $12.7M, offset by $219.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Beta Bionics, Inc. (BBNX) has total shareholders' equity (book value) of $287.6M ($7.10 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Beta Bionics, Inc. (BBNX) reported a current ratio of 8.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.