Despite achieving 66.8% year-over-year revenue growth in 2026Q1, the company reported a -54.5% operating margin, reflecting the heavy burden of $126.6 million in quarterly R&D spending.
| Sales/Revenue | 579.96M | 502.08M | 221.9M | 9.3M | 77.65M | 69.72M | 8.25M | 40.56M | 0 | 0 |
| Revenue Growth % | 355.17% | 126.26% | 2285.27% | -88.02% | 11.38% | 745.14% | -79.66% | - | - | - |
| Cost of Goods Sold | 36.06M | 28.27M | 3.88M | 2.45M | 3.43M | 3.11M | 0 | 2.5M | 0 | 260K |
| COGS % of Revenue | - | 5.63% | 1.75% | 26.29% | 4.42% | 4.47% | - | 6.16% | - | - |
| Gross Profit | 543.9M | 473.81M | 218.02M | 6.86M | 74.21M | 66.6M | 8.25M | 38.06M | 0 | -260K |
| Gross Margin % | 93.78% | 94.37% | 98.25% | 73.71% | 95.58% | 95.53% | 100% | 93.84% | - | - |
| Gross Profit Growth % | - | 117.32% | 3079.58% | -90.76% | 11.43% | 707.39% | -78.33% | - | 100% | - |
| Operating Expenses | 1.11B | 1.04B | 811M | 614.23M | 586.42M | 643.23M | 482.73M | 304.3M | 183.66M | 43.86M |
| OpEx % of Revenue | - | 207.72% | 365.48% | 6602.46% | 755.22% | 922.65% | 5851.99% | 750.25% | - | - |
| Selling, General & Admin | 612.67M | 555.14M | 288.93M | 150.59M | 143.19M | 192.21M | 145.68M | 94.35M | 43.59M | 13.3M |
| SG&A % of Revenue | - | 110.57% | 130.21% | 1618.73% | 184.41% | 275.7% | 1766.08% | 232.63% | - | - |
| Research & Development | 492.74M | 477.54M | 506.46M | 455.71M | 399.46M | 451.02M | 337.05M | 209.95M | 140.07M | 30.56M |
| R&D % of Revenue | - | 95.11% | 228.24% | 4898.54% | 514.45% | 646.94% | 4085.91% | 517.62% | - | - |
| Other Operating Expenses | 1.32M | 10.22M | 15.61M | 7.93M | 43.77M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -570.67M | -569.09M | -592.97M | -607.37M | -512.2M | -576.63M | -474.48M | -266.24M | -183.66M | -43.86M |
| Operating Margin % | -98.4% | -113.35% | -267.22% | -6528.75% | -659.65% | -827.12% | -5751.99% | -656.41% | - | - |
| Operating Income Growth % | - | 4.03% | 2.37% | -18.58% | 11.17% | -21.53% | -78.22% | -44.96% | -318.76% | - |
| EBITDA | -561.77M | -560.09M | -586.9M | -600.88M | -505.43M | -570.79M | -473.03M | -265.38M | -183.41M | -43.6M |
| EBITDA Margin % | -96.86% | -111.55% | -264.49% | -6458.95% | -650.93% | -818.73% | -5734.34% | -654.29% | - | - |
| EBITDA Growth % | 18.81% | 4.57% | 2.33% | -18.88% | 11.45% | -20.67% | -78.24% | -44.69% | -320.7% | - |
| D&A (Non-Cash Add-back) | 8.9M | 9M | 6.08M | 6.49M | 6.77M | 5.84M | 1.46M | 859K | 245K | 260K |
| EBIT | -609.96M | -681.88M | -442.9M | -571.96M | -404.21M | -539.68M | -468.83M | -279.82M | -183.66M | -43.82M |
| Net Interest Income | -93.48M | -33.25M | -82.04M | -63.25M | -72.9M | -45.65M | -32.64M | 150K | -543K | 26K |
| Interest Income | 20.71M | 19.85M | 17.25M | 18.04M | 7.54M | 1.13M | 4.01M | 8.91M | 2M | 39K |
| Interest Expense | 114.19M | 53.1M | 99.29M | 81.29M | 80.44M | 46.78M | 36.66M | 8.77M | 2.55M | 13K |
| Other Income/Expense | -161.26M | -165.9M | 50.78M | -45.88M | 27.55M | -9.82M | -31.01M | -22.34M | 14.21M | 26K |
| Pretax Income | -731.93M | -734.99M | -542.19M | -653.25M | -484.65M | -586.45M | -505.49M | -288.58M | -169.45M | -43.83M |
| Pretax Margin % | -126.2% | -146.39% | -244.34% | -7021.94% | -624.17% | -841.2% | -6127.87% | -711.5% | - | - |
| Income Tax | 555K | 555K | 1.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.08% | -0.08% | -0.21% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -725.93M | -729.31M | -535.76M | -643.2M | -481.18M | -562.54M | -448.72M | -260.44M | -130.75M | -30.57M |
| Net Margin % | -125.17% | -145.26% | -241.44% | -6913.92% | -619.7% | -806.9% | -5439.74% | -642.1% | - | - |
| Net Income Growth % | -8.68% | -36.13% | 16.7% | -33.67% | 14.46% | -25.36% | -72.3% | -99.19% | -327.77% | - |
| Net Income (Continuing) | -732.49M | -735.54M | -543.35M | -653.25M | -484.65M | -586.45M | -505.49M | -288.58M | -169.45M | -43.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -951K | -570K | 10.29M | 11.72M | 9.69M | 4.83M | 49.98M | 67.52M | 62.48M | 3.33M |
| EPS (Diluted) | -3.73 | -3.79 | -2.88 | -3.95 | -3.35 | -3.90 | -4.10 | -2.48 | -1.42 | -0.33 |
| EPS Growth % | -6.23% | -31.6% | 27.09% | -17.91% | 14.1% | 4.88% | -65.32% | -74.65% | -330.3% | - |
| EPS (Basic) | - | -3.79 | -2.88 | -3.95 | -3.35 | -3.90 | -4.10 | -2.48 | -1.42 | -0.33 |
| Diluted Shares Outstanding | 194.79M | 197.24M | 186.08M | 162.79M | 147.47M | 144.36M | 118M | 105.1M | 92.33M | 92.33M |
| Basic Shares Outstanding | 194.79M | 197.24M | 186.08M | 162.79M | 147.47M | 144.36M | 118M | 105.1M | 92.33M | 92.33M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Binary clinical regulatory outcomes
According to recent financial disclosures, BridgeBio's revenue trajectory remains highly erratic, characterized by a 66.8% year-over-year growth in 2026Q1 that relies heavily on non-recurring collaboration milestones rather than a stable, predictable commercial product sales base that would indicate long-term, sustainable top-line expansion.
The reliance on milestone-driven revenue creates significant quarter-to-quarter variance, making it difficult to assess the underlying demand for the company's therapeutic pipeline. Investors should monitor the transition toward commercial product revenue, as current growth figures do not yet reflect a repeatable business model.
As reported in quarterly filings, BridgeBio maintains impressive gross margins consistently exceeding 90% in recent periods, yet this high-margin profile is currently overshadowed by an operating margin of -54.5% in 2026Q1, reflecting the substantial costs of maintaining a broad, early-stage clinical research infrastructure.
While the high gross margin suggests strong intellectual property value, it remains largely theoretical until the company achieves commercial scale. The current margin structure indicates that the firm is effectively subsidizing its R&D engine through high-value licensing, which may not be sufficient to cover long-term operating overhead.
Based on the provided income statement data, BridgeBio exhibits significant negative operating leverage, with SG&A expenses rising to $163.9 million in 2026Q1, suggesting that the company's administrative and commercial scaling efforts are currently outpacing its ability to generate meaningful operating income from its core research activities.
The hub-and-spoke model necessitates high fixed costs that do not scale linearly with revenue, leading to persistent operating losses. Until the company successfully commercializes its lead assets, the current cost structure will likely continue to exert downward pressure on overall profitability metrics.
Financial statements indicate that R&D remains the primary driver of the company's cost base, with quarterly expenditures frequently exceeding $120 million, a level of investment that underscores the firm's commitment to its decentralized clinical development strategy despite the resulting impact on bottom-line performance.
The company's expense discipline appears secondary to the necessity of funding multiple parallel clinical programs, which is inherent to its corporate architecture. This high-burn environment warrants further investigation into the sustainability of funding if clinical milestones are delayed or if capital markets tighten.
As evidenced by the persistent net losses and significant stock-based compensation, which reached $33.2 million in 2026Q1, there is a clear risk that the company's reliance on external financing to bridge its operational gap may lead to continued shareholder dilution and long-term value erosion.
Short-term observers might focus on the potential for the company to exhaust its cash reserves before achieving a self-sustaining commercial launch. The combination of high R&D burn and the necessity for ongoing capital raises suggests that the current valuation may be overly optimistic regarding the timeline to profitability.
Quick answers to the most common questions about buying BBIO stock.
For fiscal year 2025, BridgeBio Pharma, Inc. (BBIO) reported total revenue of $502.1M.
BridgeBio Pharma, Inc. (BBIO) reported a net loss of $729.3M for the fiscal year ending 2025.
BridgeBio Pharma, Inc. (BBIO) reported an operating income of $-569.1M, resulting in an operating profit margin of -113.3%. This margin reflects the operational efficiency of the business before interest and taxes.
BridgeBio Pharma, Inc. (BBIO) generated $473.8M in gross profit for the year, representing a gross profit margin of 94.4%. This demonstrates the company's core pricing power and production efficiency.