The company remains in a pre-revenue phase, with quarterly operating expenses consistently consuming capital, evidenced by a combined R&D and SG&A spend of $805.1K in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Oct'13 | Oct'12 | Oct'09 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50 | 96 | 96 | 700 | 4.45K | 877.78K | 0 | 0 | 3K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -50 | -96 | -96 | -700 | -4.45K | -877.78K | 0 | 0 | -3K |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | 100% | 47.92% | 0% | 86.29% | 84.27% | 99.49% | - | - | 100% | - |
| Operating Expenses | 3M | 3.23M | 4.22M | 9.43M | 3.67M | 1.1M | 825.01K | 2.45M | 2.79M | 2.63M | 17.85M | 12M | 2.13M | 671.99K | 436 | 0 |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 2.22M | 2.17M | 2.09M | 2.52M | 2.09M | 1.02M | 484.34K | 1.35M | 2.69M | 3.82M | 6.25M | 8.33M | 1.51M | 483.75K | 180 | 0 |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 778.21K | 1.06M | 2.13M | 6.91M | 1.58M | 82.04K | 340.67K | 1.1M | 104.49K | -1.19M | 11.6M | 3.67M | 623.52K | 188.24K | 256 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 510 | 567 | 0 | 0 | 478 | 0 | 0 | 0 |
| Operating Income | -3M | -3.23M | -4.22M | -9.43M | -3.67M | -1.1M | -825.01K | -2.45M | -2.79M | -2.63M | -20.41M | -12M | -3.01M | -672K | -5.23K | -3K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 23.32% | 55.25% | -157.23% | -232.27% | -33.7% | 66.29% | 12.31% | -6.24% | 87.13% | -70.16% | -298.41% | -348.07% | -12746.49% | -74.37% | - |
| EBITDA | -3M | -3.11M | 161 | 0 | -752.91K | -805.58K | -825.01K | -2.45M | -2.79M | -2.63M | -20.41M | -11.99M | -3.01M | -15 | -5.23K | -3K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 29.95% | -1931150.31% | - | 100% | 6.54% | 2.36% | 66.29% | 12.31% | -6.24% | 87.13% | -70.22% | -298.3% | -20071366.67% | 99.71% | -74.37% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 4.22M | 9.43M | 0 | 0 | 0 | 50 | 96 | 96 | 700 | 4.45K | 280 | 671.99K | 0 | 0 |
| EBIT | -2.9M | -3.11M | -4.11M | -8.95M | -752.91K | -805.58K | -825.01K | -2.45M | -2.79M | -2.63M | -23.26M | -12M | -3.02M | -672K | -5.23K | 0 |
| Net Interest Income | 140.75K | 121.98K | 55.66K | 1.87K | -731.71K | -804K | -997K | -975.77K | -1.23M | -4.42M | -2.62M | -1.87M | -1.4M | 0 | 0 | 0 |
| Interest Income | 140.75K | 121.98K | 55.66K | 1.87K | 0 | 805 | 998 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 731.71K | 805.11K | 998.08K | 975.77K | 1.23M | 4.42M | 2.62M | 1.87M | 1.4M | 0 | 0 | 0 |
| Other Income/Expense | 143.62K | 125.95K | 106.74K | 479.57K | 2.18M | -507.61K | -998.08K | -975.77K | -1.64M | -4.42M | -615K | -1.87M | -1.41M | -409K | -279 | 0 |
| Pretax Income | -2.86M | -3.11M | -4.11M | -8.95M | -1.48M | -1.61M | -1.82M | -3.42M | -4.43M | -7.05M | -21.03M | -13.87M | -4.42M | -1.08M | -5.23K | 0 |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1.6K | 1.6K | 1.73K | 1.6K | 2.24K | 8.84K | 1.6K | 800 | 400 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | -0.09% | -0.05% | -0.04% | -0.02% | -0.01% | -0.06% | -0.04% | -0.07% | -7.65% | - |
| Net Income | -2.86M | -3.11M | -4.11M | -8.95M | -1.48M | -1.61M | -1.82M | -3.42M | -4.43M | -7.05M | -25.88M | -13.88M | -4.42M | -1.08M | -715 | 0 |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 32.97% | 24.39% | 54.05% | -502.78% | 7.83% | 11.73% | 46.72% | 22.69% | 37.18% | 72.75% | -86.49% | -213.68% | -308.87% | -151228.67% | - | - |
| Net Income (Continuing) | -2.86M | -3.11M | -4.11M | -8.95M | -1.48M | -1.61M | -1.82M | -3.42M | -4.43M | -7.05M | -25.88M | -13.88M | -4.42M | -1.08M | -5.63K | 0 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.59 | -2.65 | -4.83 | -34.01 | -31.20 | -37.35 | -35.68 | -66.97 | -3173.58 | -6480.00 | -24840.00 | -17640.00 | -10800.00 | -37.48 | -49.11 | 0.00 |
| EPS Growth % | 28.13% | 45.13% | 85.8% | -9.01% | 16.47% | -4.68% | 46.72% | 97.89% | 51.02% | 73.91% | -40.82% | -63.33% | -28715.37% | 23.68% | - | - |
| EPS (Basic) | - | -2.65 | -4.83 | -34.01 | -31.15 | -37.35 | -35.68 | -66.97 | -3173.58 | -6480.00 | -24840.00 | -17640.00 | -10800.00 | 0.00 | -49.11 | 0.00 |
| Diluted Shares Outstanding | 1.8M | 1.17M | 1.52M | 263.14K | 47.66K | 43.13K | 51.14K | 51.14K | 1.4K | 1.08K | 1.04K | 791 | 415 | 5M | 5M | 5M |
| Basic Shares Outstanding | 1.8M | 1.17M | 1.52M | 263.14K | 47.6K | 43K | 51K | 51K | 1.4K | 1.08K | 1.04K | 791 | 415 | 0 | 5M | 5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Binary clinical trial failure
As reported in recent financial filings, Bone Biologics continues to operate without revenue, with quarterly R&D and SG&A expenses consistently consuming capital, reaching a combined $805.1K in 2026Q1, which underscores the firm's reliance on external funding to sustain its ongoing clinical trial development activities.
The company's cost structure is entirely defined by its pre-commercial status, where R&D spending is the primary driver of cash outflows. Investors should note that the lack of revenue generation means these expenses directly deplete the company's limited liquidity, leaving little room for operational error or unexpected regulatory delays.
Based on the provided income statement data, BBLG's net income figures exhibit significant volatility, with quarterly losses fluctuating between $666.7K and $1.6M, a trend that appears heavily influenced by non-operating items and stock-based compensation rather than any underlying commercial performance or core operational efficiency.
The reported EPS figures are largely academic given the absence of revenue and the company's reliance on dilutive financing. Analysts should focus on the cash burn rate rather than net income, as the latter is obscured by accounting adjustments that do not reflect the firm's actual ability to fund its clinical pipeline.
According to the latest financial disclosures, the company maintains a cash position of approximately $5.3 million, a figure that suggests a precarious runway that may necessitate further dilutive equity offerings to maintain the current pace of clinical development before the end of the next fiscal year.
The reliance on continuous capital raises to fund R&D creates a cycle of shareholder dilution that may permanently impair the value of existing equity. Investors should monitor the company's ability to secure non-dilutive funding or strategic partnerships, as the current trajectory appears unsustainable without a significant change in capital access.
As indicated by the historical income statement, BBLG remains in a pre-revenue phase with no active commercial segments, meaning that traditional growth metrics are currently unavailable and the company's trajectory is entirely dependent on achieving future regulatory milestones for its NELL-1 protein technology.
The absence of revenue growth highlights the binary nature of the investment, where value is tied to clinical trial outcomes rather than market share expansion. Any assessment of future growth must be predicated on the successful completion of the L4-S1 spinal fusion study and subsequent FDA approval.
Quick answers to the most common questions about buying BBLG stock.
For fiscal year 2025, Bone Biologics Corporation (BBLG) reported total revenue of $0.0M.
Bone Biologics Corporation (BBLG) reported a net loss of $3.1M for the fiscal year ending 2025.