Beta Bionics Inc (NASDAQ:BBNX) Tops Q3 2025 Revenue Estimates and Raises Full-Year Guidance

Beta Bionics Inc (NASDAQ:BBNX) reported financial results for the third quarter of 2025 that surpassed analyst expectations on the top line, while its net loss was narrower than anticipated. The medical device company also raised its full-year revenue guidance, signaling confidence in its ongoing commercial expansion.

Earnings and Revenue Performance

The company's third-quarter performance demonstrated significant growth, with both revenue and earnings per share coming in ahead of market forecasts.

• Q3 2025 Revenue: $27.3 million, a 63% increase year-over-year.
• Analyst Revenue Estimate: $24.5 million, resulting in a beat of approximately $2.8 million.
• Q3 2025 Non-GAAP EPS: -$0.33 per share.
• Analyst EPS Estimate: -$0.44 per share, resulting in a narrower loss than expected.

This strong revenue growth was primarily fueled by expansion across both of the company's sales channels. The Pharmacy Benefit Plan (PBP) channel saw explosive growth of 178% compared to the third quarter of 2024, reaching $6.2 million. The established Durable Medical Equipment (DME) channel also grew healthily, up 45% to $21.0 million.

Market Reaction and Updated Guidance

The market responded positively to the earnings beat and improved outlook. Following the announcement, the stock traded higher in after-market activity, reflecting investor approval of the company's trajectory.

Bolstering this positive sentiment, Beta Bionics raised its full-year 2025 revenue guidance. The company now expects total revenue to be greater than $96.5 million, up from its previous forecast of between $88 million and $93 million. This new guidance also exceeds the analyst consensus estimate for full-year 2025 sales, which stood at $93.2 million. The company also tightened its projected gross margin to a range of 54% to 55%.

Strategic and Operational Highlights

Beyond the financial figures, the earnings report highlighted several key operational and strategic milestones that underpin the company's growth.

• User Base Expansion: The installed customer base grew to 29,419 users, a 162% increase from the prior year. New patient starts for the quarter were 5,334, up 68% year-over-year, with 70% of these new users transitioning from multiple daily injections.
• PBM Coverage: The company confirmed it now has effective formulary agreements in place with all major pharmacy benefit managers in the United States, a critical step for easing patient access and reimbursement.
• Product Development: Progress was noted on the development of a bihormonal version of the iLet system, with a feasibility trial expected to commence in New Zealand in the fourth quarter. The company also received FDA clearance for user experience updates to the current iLet system.

Conclusion

Beta Bionics delivered a strong quarter characterized by robust revenue growth that exceeded expectations and a narrower-than-anticipated loss. The decision to raise full-year guidance suggests management's confidence in the company's commercial execution and market demand for its iLet Bionic Pancreas. The positive after-market stock movement indicates that investors are viewing these results as a validation of the company's growth strategy and its position in the diabetes management market.

For a more detailed look at historical earnings and future analyst estimates, you can review the data here.

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