Beta Bionics Inc. (BBNX), a commercial-stage medical device company, released on Tuesday the financial results and business highlights of the first quarter of 2026, and raised the financial guidance for the full year of 2026.
Q1 Results:
For the quarter ending March 31, 2026, the company recorded net sales worth $27.60 million, an increase of 57% from net sales of $17.60 million in Q1 2025.
Of the net sales, the durable medical equipment (DME) channel contributed $16.90 million, and the pharmacy benefit plan (PBP) channel net sales amounted to $10.70 million.
The new patient starts declined by at least 10%, with 70% new patient starts arising from multiple daily injections (MDI).
The net loss was reported to be $21.90 million, or a negative 79% of sales. In the same period in 2025, net losses were $28.70 million, or a negative 162% of sales.
The adjusted EBITDA was negative $17.70 million in Q1 2026, or negative 64% of sales. The same in Q1 2025 was $15.50 million, or negative 88% of sales.
The company reported $239.50 million in cash, cash equivalents, short- and long-term investments at the end of the first quarter.
Beta Bionics also launched Bionic Insights, a feature within the Bionic reports healthcare provider portal to promote personalized treatment suggestions for diabetes patients. Additionally, a Phase 2a feasibility trial for blhormonal systems was initiated to develop glucagon assets, pump and dosing algorithms.
2026 Full Year Guidance:
The company estimates total revenues of $131 million - $136 million in 2026, up from the previous estimates of $130 million-$135 million. This compares with revenue of $100.3 million reported in 2025.
The new patient starts reimbursed through the PBP channel is estimated to be 37%-39% (previously 36%-38%), and estimated gross margins are currently at 57.5%-59.5% (previously 55.5%-57.5%).
BBNX closed Tuesday at $12.27, down 4.96%. In the overnight market, shares are trading at $12.26, down 0.08%.
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