Beta Bionics
Builds the iLet automated insulin delivery system for type 1 diabetes.
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Profile
Sells the iLet Bionic Pancreas and the cartridges and infusion sets used with it. Revenue is concentrated in the United States and tied to a single iLet-centered segment, with adoption shaped by reimbursement channels, compatible CGMs, and FDA quality-system oversight.
Builds and sells the iLet Bionic Pancreas, an automated insulin delivery system for people with type 1 diabetes. The platform includes the pump, dosing-decision software, compatible CGM connectivity, and single-use cartridges and infusion sets replaced during therapy.
Commercial activity is concentrated in the United States after FDA clearance, with sales flowing through durable medical equipment and pharmacy-benefit-plan reimbursement channels. Revenue remains predominantly tied to iLet systems, while consumables add recurring demand.
Execution depends on simplifying diabetes management through body-weight initialization, adaptive dosing, and meal announcements instead of conventional carbohydrate counting. The business also depends on compatible third-party CGMs and FDA oversight, including the warning letter tied to quality-system and correction or removal reporting issues.
Company facts
Categories
Key statistics
Year to date −32.6% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 21, 2026 | William Blair | Initiate | Market Perform | ||
| Jul 28, 2026 | UBS | Target | $24 | $22 | |
| Jul 15, 2026 | Goldman Sachs | Reiterate | Buy | $17 | $19 |
| Jul 13, 2026 | Truist Financial | Target | $25 | $22 | |
| May 27, 2026 | Goldman Sachs | Reiterate | Buy | $25 | $17 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | −$0.58 | −$0.53 | +8.8% | $31.5M | $32.0M | +1.7% | −5.93% |
| Apr 21, 2026Q1 FY26 | −$0.53 | −$0.49 | +7.5% | $26.9M | $27.6M | +2.5% | −0.57% |
| Feb 17, 2026Q4 FY25 | −$0.42 | −$0.30 | +28.6% | $30.4M | $32.1M | +5.7% | −2.58% |
| Oct 28, 2025Q3 FY25 | −$0.45 | −$0.33 | +26.7% | $28.9M | $27.3M | −5.7% | +10.34% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $17.6M | $23.2M | $27.3M | $32.1M | $27.6M | $32.0M | |
| Gross profit | $9.0M | $12.5M | $15.1M | $18.9M | $16.4M | $18.9M | |
| Operating income | −$18.6M | −$19.9M | −$17.0M | −$16.1M | −$24.3M | −$25.6M | |
| Net income | −$28.7M | −$16.9M | −$14.2M | −$13.5M | −$21.9M | −$23.4M | |
| Diluted EPS | −$0.66 | −$0.39 | −$0.33 | −$0.33 | −$0.49 | −$0.53 | |
| Gross margin | 50.9% | 53.8% | 55.5% | 59.0% | 59.5% | 59.0% | |
| Operating margin | -105.7% | -85.5% | -62.5% | -50.2% | -87.9% | -79.9% |
Fiscal years (4-quarter sums)FY24 $65.1M · FY25 $100.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $180.5M · Total debt $6.5M · Total assets $292.4M · Shareholders' equity $256.4M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 44.99M · Float 20.04M · 44.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Eventide Asset Management, LLC | 6.25M | 13.90% | 13F | Aug 14, 2026 |
| Soleus Capital Management, L.P. | 4.39M | 9.77% | 13F | Aug 11, 2026 |
| Morgan Stanley | 4.27M | 9.48% | 13F | Aug 13, 2026 |
| Sands Capital Ventures, LLC | 3.71M | 8.24% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 3.34M | 7.42% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 26, 2026 | Stephen Feider | officer: Chief Financial Officer | −5,104 | $17.05 |
| Jun 29, 2026 | Stephen Feider | officer: Chief Financial Officer | −4,896 | $17.03 |
| Jun 24, 2026 | Christy Jones | director | −1,406 | $15.00 |
| Jun 24, 2026 | Mark Hopman | officer: Chief Commercial Officer | −1,258 | $15.01 |
| Jun 4, 2026 | Christy Jones | director | −2,811 | $14.00 |
Peers
- MiniMed Group
Integrated pump, CGM, and algorithm rival in AID systems
- Tandem Diabetes Care
Automated insulin-delivery pump rival with Control-IQ+
- Insulet
Tubeless Omnipod rival in automated insulin delivery
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Beta Bionics | $20.11 | +2.08% | $887.2M | — | — | 7.5 | +37.8% |
| MiniMed Group | $19.60 | −2.39% | $5.64B | — | 31.7 | 2.4 | — |
| Tandem Diabetes Care | $21.16 | −1.26% | $1.47B | — | — | 1.4 | +5.8% |
| Insulet | $145.31 | +0.11% | $10.05B | 27.1 | 21.0 | 3.3 | +23.5% |
| Median | 27.1 | 26.4 | 2.4 | +14.6% |