BioXcel Therapeutics Income Statement 2025-2011 | BTAI

Brief overview of profit and loss at BioXcel Therapeutics

The conclusions below are based on five years of reported results. BioXcel Therapeutics reported revenue of 24.3 dollars in 2020 and 642 thousand dollars by 2025. Overall revenue changed by +2641657.9%, equal to an annualized rate of about 666.3%. Sales grew at a rate typical of a strong expansion phase.

Gross profit was 24.3 dollars at the start and 478 thousand dollars at the end of the period (+1966816.3%). Gross profit as a share of revenue changed from 100% to 74.5%. A lower margin indicates deterioration in the economics of the core business.

The operating result measured by EBITDA moved from −$82.1 million to −$50.2 million, or +38.9%. EBITDA underperformed the top-line trend. Comparing the endpoints gives EBITDA margins of −337869311.2% and −7813.2%. The company improved its ability to convert sales into EBITDA.

Net income moved from −$82.2 million at the start to −$69.9 million at the end. The direction improved, yet positive earnings are still absent.

Over the period, capitalization shifted from 1 billion dollars to 15.4 million dollars (−98.5%). The market has not yet confirmed the improvement in fundamentals.

Overall conclusion

The financial trajectory is weak and requires a cautious interpretation. The financial profile benefits from an improving EBITDA margin, a stronger final result and sales growth. The overall view is constrained by pressure from direct costs, declining capitalization and limited operating profitability. Further direction will depend on top-line growth, operating profitability, and net income.