Beta Bionics Inc(BBNX) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales reached $27.3 million, a 63% increase from $16.7 million in Q3 2024[5] - Total net sales for the three months ended September 30, 2025, were $27,253,000, up 63.5% from $16,705,000 in the same period of 2024[23] - Durable Medical Equipment (DME) channel net sales were $21.0 million, up 45% from $14.5 million in Q3 2024[5] - Pharmacy Benefit Plan (PBP) channel net sales surged 178% to $6.2 million from $2.2 million in Q3 2024[5] - The company reported a significant increase in single-use product sales in the DME channel, rising to $6,840,000 in Q3 2025 from $3,420,000 in Q3 2024, a growth of 100%[23] Customer Growth - The installed customer base grew to 29,419 users, a 162% increase from 11,214 in Q3 2024[5] - New patient starts totaled 5,334, up 68% from 3,180 in Q3 2024[5] - New patient starts reached 5,334 in Q3 2025, a 67% increase from 3,180 in Q3 2024[25] - The installed customer base grew to 29,419 as of September 30, 2025, compared to 11,214 a year earlier, indicating a significant expansion[25] Profitability and Loss - The net loss was $14.2 million, or negative 52% of sales, compared to a net loss of $9.7 million or negative 58% of sales in Q3 2024[5] - Net loss for the three months ended September 30, 2025, was $14,209,000, compared to a loss of $9,736,000 in Q3 2024, reflecting a 46% increase in losses[27] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(42,240,000), worsening from $(26,463,000) in the same period of 2024[28] Asset and Liability Management - Total assets increased to $330,046,000 as of September 30, 2025, compared to $149,645,000 on December 31, 2024, representing a growth of 120%[20] - Total current assets rose to $270,026,000 as of September 30, 2025, compared to $132,923,000 on December 31, 2024, marking a 103% increase[20] - Total liabilities decreased to $35,286,000 as of September 30, 2025, down from $73,632,000 at the end of 2024, a reduction of 52%[22] - Cash and cash equivalents increased to $38,485,000 as of September 30, 2025, from $30,432,000 at the end of 2024, a rise of 26%[20] Future Outlook - Full year 2025 revenue guidance raised to over $96.5 million, previously estimated at $88 million to $93 million[12] - Beta Bionics completed a glucagon pharmacokinetic-pharmacodynamic trial in Canada, supporting the development of its glucagon asset[5] - The company expects to initiate a feasibility trial in New Zealand for the bihormonal system by year-end 2025[12]