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Maker of the iLet Bionic Pancreas, an automated insulin-delivery system for people with type 1 diabetes.
Maker of the iLet Bionic Pancreas, an automated insulin-delivery system for people with type 1 diabetes.
Sells the iLet device and then earns again and again from the disposable infusion sets and insulin cartridges patients must replace, billed largely through insurance. Distribution runs through pharmacies and medical-supply distributors, which makes insurer coverage decisions as important as sales calls.
In one line: A newer, algorithm-driven rival to Insulet's Omnipod and Tandem's t:slim.
Moat: narrow (IP / patents, process know-how). Proprietary dosing algorithm requires only body weight (no carb counting), differentiating from rival AID systems.
Headquarters: Irvine, California · Founded: 2013 · Employees: 423
Size Beta Bionics (BBNX) is a United States Health Care company (Medical Specialties) with a market value of $854M, the 2352nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $15.70 on 6 Nov 2026.
Performance Over six months the shares gained 62.7%, against -13.3% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 43.7% over the last twelve months (peer median +8.1%); the operating margin is -72.8% (peer median 9.6%).
Valuation It trades at 4.9× enterprise value to sales against a peer median of 2.7× (5th most expensive of 21).
Capital Return on invested capital runs 63.5 points below its cost of capital (19.8% WACC).
Backlog Backlog (remaining performance obligations) was $2.00M at 30 Sep 2026, up 54% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 12.8% of the free float (15 Oct 2026).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $127M | $100M | $65.1M | $12.0M | $179,000 |
| Revenue growth | — | +54% | +443% | +6,601% | — |
| Gross profit | $74.6M | $55.5M | $35.9M | $6.31M | -$1.91M |
| EBITDA | -$88.6M | -$68.8M | -$43.0M | -$33.8M | -$63.8M |
| Net income | -$83.1M | -$73.2M | -$54.8M | -$44.1M | -$64.8M |
| Free cash flow | -$66.0M | -$56.2M | -$51.7M | -$32.8M | -$61.0M |
| Capital expenditure | $6.59M | $5.30M | $3.40M | $402,000 | $772,000 |
| Total debt | $6.10M | $7.30M | $7.25M | $4.22M | $4.13M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Beta Bionics BBNX | $854M | +63% | +44% | -73% | 4.9× | n/a |
| Insulet PODD | $10.2B | -5% | +26% | 18% | 3.3× | 10.3% |
| Tandem Diabetes Care TNDM | $1.18B | +9% | +4% | -4% | 1.4× | n/a |
| Medtronic MDT | $130B | +35% | +10% | 20% | 4.0× | 8.6% |
| Dexcom DXCM | $29.6B | +31% | +13% | 24% | 5.7× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BBNX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.9% | -2.6% | 5th lowest of 21 |
| 6-month return | +62.7% | -13.3% | 2nd highest of 21 |
| Distance from 52-week high | -52.0% | -32.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +43.7% | +8.1% | highest of 21 |
| Operating margin | -72.8% | 9.6% | lowest of 21 |
| EV / Sales | 4.9× | 2.7× | 5th most expensive of 21 |
| ROIC minus cost of capital | -63.5 pp | +1.4 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beta Bionics BBNX | United States | $854M | +63% | +44% | -73% | 4.9× | n/a | n/a |
| Menicon 7780.T | Japan | $854M | +12% | +5% | 9% | 1.4× | n/a | n/a |
| Zylox-Tonbridge Medical Technology 2190.HK | Hong Kong | $851M | -13% | +39% | 25% | 4.0× | 5.5% | +105.8% |
| MedCap MCAP.ST | Sweden | $864M | +6% | +17% | 15% | 3.7× | 2.9% | +20.9% |
| JINS 3046.T | Japan | $865M | -12% | +14% | 10% | 1.2× | -7.2% | +11.7% |
| Sino Medical Sciences Technology 688108.SS | China | $868M | -35% | +22% | 19% | 9.1× | 31.0% | +9.9% |
| Modern Dental 3600.HK | Hong Kong | $871M | +19% | +12% | 22% | 1.7× | -7.0% | +11.3% |
| Beijing Aerospace Changfeng 600855.SS | China | $832M | -35% | -10% | -19% | 5.1× | n/a | n/a |
| OrthoPediatrics KIDS | United States | $829M | +78% | +16% | -8% | 3.4× | n/a | n/a |
| Hangzhou Biotest Biotech 688767.SS | China | $824M | +5% | -4% | 3% | 9.7× | n/a | n/a |
| Advanced Medical Solutions AMS.L | United Kingdom | $824M | +14% | +6% | 12% | 2.9× | 19.6% | +21.4% |
| Cisen Pharmaceutical 603367.SS | China | $890M | -15% | -6% | 8% | 0.8× | -12.9% | -1.3% |
| Safilo SFL.MI | Italy | $890M | +24% | -4% | 9% | 0.8× | -0.5% | +4.7% |
| Bioventus BVS | United States | $894M | +1% | +4% | 10% | 2.0× | 6.9% | +12.1% |
| Maccura Biotechnology 300463.SZ | China | $814M | -14% | -1% | -4% | 2.5× | 9.2% | -10.2% |
| Shanghai Aladdin Biochemical Technology 688179.SS | China | $806M | -25% | +39% | 26% | 6.8× | 21.1% | +24.2% |
| Mani 7730.T | Japan | $909M | -15% | +10% | 30% | 3.5× | 1.5% | +13.9% |
| Shanghai Runda Medical Technology 603108.SS | China | $909M | -25% | -12% | -2% | 1.9× | 22.2% | -0.2% |
| Beijing SDL Technology 002658.SZ | China | $910M | -21% | -13% | 9% | 3.5× | 18.0% | +2.9% |
| Allmed Medical Products 002950.SZ | China | $798M | -39% | +14% | 8% | 1.6× | n/a | n/a |
| Cofoe Medical Technology 1187.HK | Hong Kong | $798M | -27% | +40% | 10% | 0.9× | -8.0% | +6.6% |
Beta Bionics reported $2.00M of remaining performance obligations at 30 Sep 2026, up 54% from a year earlier and up 5% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.