Beta Bionics Inc(US:BBNX) Globenewswireยท2025-05-06 20:02Core Insights - Beta Bionics, Inc. reported a strong financial performance for Q1 2025, with net sales reaching $17.6 million, a 36% increase from $12.9 million in Q1 2024, and raised its annual guidance for 2025 [1][6][12] Financial Results - Net sales of $17.6 million, up 36% compared to $12.9 million in Q1 2024 [6] - Durable Medical Equipment (DME) channel net sales of $13.8 million, up 14% from $12.1 million in Q1 2024 [6] - Pharmacy Benefit Plan (PBP) channel net sales of $3.8 million, up 360% from $0.8 million in Q1 2024 [6] - Gross margin of 50.9%, down 482 basis points from 55.7% in Q1 2024 [6] - Loss from operations of $18.6 million, or negative 106% of sales, compared to $9.5 million or negative 73% of sales in Q1 2024 [6] - Net loss of $28.7 million, or negative 162% of sales, compared to $12.4 million or negative 96% of sales in Q1 2024 [6] - Adjusted EBITDA of negative $15.5 million, or negative 88% of sales, compared to negative $7.8 million or negative 60% of sales in Q1 2024 [6] Customer Metrics - Installed customer base of 19,151 users, up 291% from 4,901 in Q1 2024 [6] - 3,853 new patient starts, up 48% from 2,597 in Q1 2024 [6] - 71% of new patient starts came from multiple daily injections (MDI) [6] - Low 20s percentage of new patient starts reimbursed through the PBP channel [6] Strategic Developments - Completed an upsized initial public offering and private placement on January 31, 2025, raising approximately $206 million in net proceeds [6] - Prime Therapeutics added the iLet Bionic Pancreas to its largest national commercial formulary, which is expected to ease costs for patients and administrative burdens for physicians [6] - Initiated enrollment for a glucagon pharmacokinetic-pharmacodynamic bridging trial in Canada [6] - An investor event is scheduled for June 22, 2025, to provide updates on commercial and financial performance [6]