Beta Bionics, Inc. (BBNX) Stock

Beta Bionics, Inc. (BBNX) is a Healthcare stock trading at $19.49 (as of 2026-08-20), with a market capitalization of $876.85M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Beta Bionics, Inc. designs, develops, and commercializes medical device solutions for insulin-requiring people with diabetes. Its main product is the iLet bionic pancreas for type 1 diabetes, and it also develops additional automated insulin delivery and related systems, including collaborations for glucagon formulation and an automated delivery system.

Understand Beta Bionics, Inc.: how it makes money

Beta Bionics makes the iLet bionic pancreas insulin delivery device for insulin-requiring people with diabetes, and it is commercializing related single-use products, selling through direct market and partner billing channels.

The profit model is driven by getting more patients onto the iLet therapy, because new patient starts and adoption build an installed base that can support ongoing sales of the device and related single-use products across distribution channels.

Revenue by segment (latest quarter)
Direct Europe$0.0B
Partner Billing$0.0B

Business quality (Weak): Good: patient and adoption KPIs are provided. Limitation: reported revenue is shown as 0.0B while segment candidates sum to about 0.03B, suggesting rounding or reporting granularity issues in the provided data.

Bull case

  • Strong device and therapy focus: iLet is designed to automate insulin delivery for type 1 diabetes in adults and children six years of age and older.
  • Measurable adoption funnel: The company reports both New Patient Starts (5,592) and New Patients Adopted the Islet (4,934), which tracks conversion from interest to use.
  • Gross margin provided: Gross margin for the quarter ended 2026-03-31 is 59.5%.

Bear case

  • Large operating losses: Operating margin for the quarter ended 2026-03-31 is -87.9%.
  • Dependence on continued geographic and channel execution: The company reports 63 sales territories exiting the quarter and 20 incremental sales territories added during the quarter, which can indicate uneven rollout or partner/direct coverage changes.
  • Pipeline execution risk: Patch Pump and Bihormonal iLet are described as development programs, which introduces timelines and regulatory/commercialization uncertainty.
Valuation — source: SEC EDGAR (first-party)
Price$19.49
Market Cap$876.85M
Price / Book3.42
Price / Sales7.37
FCF Yield-7.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$100.25M
Net Margin-73.0%
Revenue Growth (YoY)37.8%
EPS Growth (YoY)35.9%
FCF Growth (YoY)1.9%
Financial Health — source: SEC EDGAR
Altman Z-Score11.49 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($67.59M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOSean T. Saint
Employees352
CountryUS
IPO Date2025-01-30

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BBNX earnings history · BBNX institutional & insider holders · BBNX KPIs & operating metrics · BBNX financials · BBNX investor presentations & press releases · BBNX SEC filings · BBNX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.