Bullfrog AI Holdings Inc. Common Stock (BFRG)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

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

As a Buffett and Graham style investor, I begin with business quality. Bullfrog AI is a nine-employee digital biopharma selling bfLEAP and developing BF-222. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $215,385 and net income was -$1.4M. For FY2025, revenue was $116,670 and net loss was $6.5M; FY2024 had no revenue and a $7.0M net loss; FY2023 revenue was $65,000 and net loss was $5.4M. That is not a proven earnings machine. Revenue from fiscal Q2 2026 versus fiscal Q2 2025's $33,257 is dramatic in percentage terms, but the absolute business is still sub-scale and deeply unprofitable. The latest quarter's margin was -636.78%, and trailing free cash flow was -$5.5M, a -52.1% FCF yield on a $10.6M market cap. FairStock's calculations show D/E 0.01, Altman Z 4.66, Piotroski 5/9, ROE -130.71%, and ROCE -72.21%. The low debt helps, but it does not create a moat. I see no durable competitive advantage in an AI platform and early drug candidate that require capital, clinical proof, and commercial execution. At $0.57 close on 2026-10-13, FairStock shows P/B 1.50 and P/E -1.24. A low share price is not value when losses are consuming the business. I would want recurring revenue, positive margins, and much lower cash burn before calling this cheap.

In plain English: Bullfrog AI is a very small healthcare company that uses artificial intelligence to study medical data and is also working on a drug. It brings in little revenue, loses money, and spends more cash than it brings in, so the business looks weak. At 57 cents a share, the stock may seem cheap, but compared with its losses and tiny sales it does not look like a bargain.

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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 (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