Beta Bionics Inc. Common Stock (BBNX)

FairStock Score: 60/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Beta Bionics as a Graham-style skeptic. The company sells a real product, the iLet Bionic Pancreas, and filed revenue is moving: fiscal 2025 revenue was $100.3M versus $65.1M in fiscal 2024, and in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $32.0M versus $23.2M in fiscal Q2 2025. That is genuine top-line progress. But the bottom line remains ugly. Fiscal Q2 2026 net income was -$23.4M, worse than -$16.9M in fiscal Q2 2025, and fiscal 2025 net loss was -$73.2M versus -$54.8M in fiscal 2024. Trailing free cash flow is -$61.4M, a negative FCF yield of -7.7%, so the business consumes cash. The balance sheet shows little debt, D/E 0.03, and an Altman Z-Score of 11.93, but Piotroski is only 3/9. FairStock's Lynch category is none because it lost money in each of the last three years. At $17.69 on 2026-10-13, market cap is $795.9M. FairStock reports P/E -11.06 and P/B 3.10, and filed fiscal 2025 diluted EPS was -$1.81. There is no dividend. A medical-device franchise can have a moat through approvals, physician habit, and patient lock-in, but the figures do not yet prove durable economics. Growth is promising; profitability is not. I would need evidence that losses are shrinking and cash burn is self-funding before calling this a value investment. The price may reflect hope, not a margin of safety.

In plain English: Beta Bionics makes an insulin-delivery device called the iLet Bionic Pancreas for people with type 1 diabetes. The business is growing sales but still losing money and using cash, so it looks financially weak today. At $17.69 on 2026-10-13, the price looks expensive against current profits because the company is not yet profitable.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K/A (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer