Beta Bionics Announces Fourth Quarter and Full Year 2025 Financial Results and Introduces Annual Guidance for Full Year 2026

Core Viewpoint - Beta Bionics, Inc. reported strong financial results for Q4 and full year 2025, indicating significant growth in the durable insulin pump market and providing guidance for 2026 [1][5][12]. Financial Highlights Fourth Quarter 2025 - Net sales reached $32.1 million, a 57% increase from $20.4 million in Q4 2024 [5][21]. - Durable Medical Equipment (DME) channel net sales were $22.3 million, up 24% from $18.0 million in Q4 2024 [5][21]. - Pharmacy Benefit Plan (PBP) channel net sales surged to $9.8 million, a 295% increase from $2.5 million in Q4 2024 [5][21]. - Gross margin improved to 59.0%, up 179 basis points from 57.2% in Q4 2024 [5][21]. - The installed customer base grew to 35,011 users, a 129% increase from 15,298 in Q4 2024 [5][21]. - New patient starts totaled 5,592, a 37% increase from 4,084 in Q4 2024 [5][26]. Full Year 2025 - Total net sales for the year were $100.3 million, a 54% increase from $65.1 million in 2024 [5][21]. - DME channel net sales for the year were $75.8 million, up 29% from $58.8 million in 2024 [5][21]. - PBP channel net sales reached $24.4 million, a 287% increase from $6.3 million in 2024 [5][21]. - Gross margin for the year was 55.4%, up 29 basis points from 55.1% in 2024 [5][21]. - New patient starts for the year totaled 19,713, a 52% increase from 12,994 in 2024 [5][26]. Strategic Highlights - The company completed its first-in-human Phase 2a feasibility trial for its bihormonal system in New Zealand [5][6]. - An additional Phase 2a feasibility trial is expected to be initiated in the first half of 2026 [5][6]. - The company aims to progress to Phase 2b following the completion of the Phase 2a trial, which is anticipated to be a pivotal trial [5][6]. 2026 Guidance - Estimated total revenue for 2026 is projected to be approximately $130 million to $135 million [12]. - Expected gross margin for 2026 is estimated to be between 55.5% and 57.5% [12]. - The company anticipates that 36% to 38% of new patient starts will be reimbursed through the PBP channel [12].