Beta Bionics (BBNX) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 30% YoY to $35.5 million, driven by installed-base growth, new patient starts and recurring single-use product sales.

• Net loss widened to $24.4 million from $14.2 million; adjusted EBITDA loss was $18.9 million.

• Mint received FDA clearance in September 2026, with U.S. launch expected in Q1 2027; a September offering generated $161.3 million in net proceeds.

Financial highlights

• Q3 net sales were $35.5 million versus $27.3 million YoY; gross profit was $20.3 million versus $15.1 million.

• Q3 operating expenses rose 46% YoY to $46.9 million; operating loss was $26.6 million versus $17.0 million.

• 9M net sales reached $95.1 million versus $68.1 million; net loss was $69.7 million versus $59.7 million.

• Cash, cash equivalents and short- and long-term investments totaled $373.6 million at September 30, 2026.

Outlook and guidance

• FY2026 revenue guidance increased to $124 million–$126 million from $121 million–$126 million; gross margin guidance remains 58.5%–59.5%.

• Q4 revenue is expected at $29 million–$31 million, with potential Mint-related deferrals of up to $8.5 million; deferred sales are expected to be recaptured in 2027.

• Q4 new patient starts are expected to decline ~20% sequentially; Q4 operating expenses are expected to rise modestly QoQ, mainly from R&D for the fully closed-loop pivotal study.

• Mint launch is targeted by the end of Q1 2027, with 2027 manufacturing capacity expected to reach at least 1.5 million disposable units.

• Mint pharmacy-benefit access is expected to cover ~40% of insured U.S. lives at launch and at least 50% within the first year.