BridgeBio Pharma
BBIO · NasdaqPharmaceutical Preparations · Fiscal year ends Dec 31
BridgeBio Pharma reported revenue of $502M in the fiscal year ended Dec 2025, up 126.3% from the year before. Operating income was −$523M, an operating margin of −104.2%, and net income was −$733M. Operating cash flow of −$446M less capital expenditure of $1M left free cash flow of −$447M. Net debt was $1.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $70M | $78M | $9M | $222M | $502M |
| Cost of revenue | $3M | $3M | $2M | $4M | $21M |
| Gross profit | $67M | $74M | $7M | $218M | $481M |
| Research & development | $451M | $399M | $456M | $506M | $452M |
| Selling, general & admin | $192M | $143M | $151M | $289M | $531M |
| Operating income | −$577M | −$512M | −$607M | −$593M | −$523M |
| Interest expense | $47M | $80M | $81M | $91M | $53M |
| Pre-tax income | – | −$485M | −$653M | −$542M | −$733M |
| Income tax | – | $0 | $0 | $1M | $435,000 |
| Net income | −$586M | −$485M | −$653M | −$543M | −$733M |
| Diluted EPS | −3.90 | −3.26 | −3.95 | −2.88 | −3.78 |
| Diluted shares | 144M | 147M | 163M | 186M | 192M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $394M | $377M | $376M | $681M | $570M |
| Receivables | – | – | $2M | $5M | $139M |
| Inventory | – | – | – | $0 | $27M |
| Current assets | $889M | $549M | $478M | $721M | $798M |
| Net PP&E | $30M | $15M | $12M | $7M | $5M |
| Total assets | $1B | $623M | $546M | $919M | $936M |
| Payables | $12M | $12M | $11M | $10M | $36M |
| Deferred revenue | $0 | $8M | $6M | $15M | $7M |
| Current liabilities | $135M | $121M | $144M | $154M | $288M |
| Long-term debt | $431M | $431M | $446M | $437M | $2B |
| Total liabilities | $1.9B | $1.9B | $1.9B | $2.4B | $3B |
| Shareholders' equity | −$870M | −$1.3B | −$1.4B | −$1.5B | −$2.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$498M | −$419M | −$528M | −$521M | −$446M |
| Capital expenditure | $13M | $5M | $1M | $933,000 | $1M |
| Free cash flow | −$511M | −$424M | −$529M | −$522M | −$447M |
| Depreciation & amortisation | $6M | $7M | $6M | $6M | $5M |
| Stock-based compensation | $100M | $92M | $109M | $96M | $133M |
| Share buybacks | $200M | $0 | $0 | $0 | $48M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 11.4% | −88.0% | 2285.3% | 126.3% |
| Gross margin | 95.5% | 95.6% | 73.7% | 98.3% | 95.8% |
| Operating margin | −827.1% | −659.6% | −6528.8% | −267.2% | −104.2% |
| Net margin | −841.2% | −624.2% | −7021.9% | −244.9% | −146.0% |
| ROCEEBIT ÷ (assets − current liabilities) | −65.7% | −102.1% | −150.9% | −77.5% | −80.8% |
| Free cash flow margin | −733.2% | −546.5% | −5686.6% | −235.1% | −89.0% |
| Cash conversion (CFO ÷ net income) | 0.85x | 0.87x | 0.81x | 0.96x | 0.61x |
| Receivable days | – | – | 69 | 8 | 101 |
| Inventory days | – | – | – | 0 | 466 |
| Payable days | 1393 | 1229 | 1590 | 905 | 631 |
| Interest cover | −12.3x | −6.37x | −7.47x | −6.52x | −9.86x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $37M | $54M | $71M | −$244M | $1.4B |
| Current ratio | 6.58x | 4.52x | 3.32x | 4.67x | 2.77x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.