Belite Bio, Inc (BLTE) 10-Year Financial Performance & Capital Metrics

BLTE • • Industrial / General

HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesOphthalmology & Ocular Diseases

AboutBelite Bio, Inc, a clinical-stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases. Its lead product candidate is LBS-008, an oral once-a-day treatment that can reduce and maintain the delivery of vitamin A to the eye to reduce the accumulation of toxic vitamin A by-products in ocular tissue that is in phase 3 clinical trial. The company is also developing LBS-009, an anti-retinol binding protein 4 oral therapy targeting liver disease, including non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, and type 2 diabetes, which is in the preclinical development phase. Belite Bio, Inc was founded in 2016 and is based in San Diego, California. Belite Bio, Inc operates as a subsidiary of Lin Bioscience International Ltd.Show more

Revenue $0
EBITDA -$40M -26.5%
Net Income -$36M -14.3%
EPS (Diluted) -1.18 +0.8%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -30.6% +36.2%
ROIC -50.91% +96.3%
Debt/Equity 0.00 -62.4%
Interest Coverage -1999.80 -57.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 95 (top 5%)

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Shares diluted 14.8% in last year
✗Expensive at 31.3x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-39.91%

EPS CAGR

10Y-

5Y-

3Y-

TTM-25.2%

ROCE

10Y Avg-39.05%

5Y Avg-39.05%

3Y Avg-41.61%

Latest-33.74%

Peer Comparison

Ophthalmology & Ocular Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KPRXKiora Pharmaceuticals, Inc.	8.05M	2.19	2.52		22.47%	-38.12%	100%	0.00
KALAKALA BIO, Inc.	16.74M	0.60	-0.09		-141.11%	-388.29%		2.62
CLSDClearside Biomedical, Inc.	5.81M	1.11	-0.16	-79.77%	-7.81%
OTLKOutlook Therapeutics, Inc.	33.47M	0.52	-0.29		-25.93%
ADVMAdverum Biotechnologies, Inc.	96.26M	4.36	-0.66	-72.22%	-130.93%	-189.84%		1.30
IRDOpus Genetics, Inc.	143.45M	2.08	-0.97	-42.3%	-466.09%	-11.43%
SKYESkye Bioscience, Inc.	30.87M	0.96	-1.32			-156.01%		0.01
ALDXAldeyra Therapeutics, Inc.	265.32M	4.41	-4.69			-87.71%		0.22

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0
Revenue Growth %	-	-	-	-	-
Cost of Goods Sold+	0	0	0	0	0
COGS % of Revenue	-	-	-	-	-
Gross Profit+	0	0	0	0	0
Gross Margin %	-	-	-	-	-
Gross Profit Growth %	-	-	-	-	-
Operating Expenses+	5.74M	9.8M	12.82M	31.67M	40M
OpEx % of Revenue	-	-	-	-	-
Selling, General & Admin	2.06M	2.38M	3.95M	6.82M	10.06M
SG&A % of Revenue	-	-	-	-	-
Research & Development	3.69M	7.42M	8.87M	24.84M	29.94M
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0
Operating Income+	-5.74M	-9.8M	-12.82M	-31.67M	-40M
Operating Margin %	-	-	-	-	-
Operating Income Growth %	-	-0.71%	-0.31%	-1.47%	-0.26%
EBITDA+	-5.73M	-9.77M	-12.62M	-31.27M	-39.55M
EBITDA Margin %	-	-	-	-	-
EBITDA Growth %	-	-0.71%	-0.29%	-1.48%	-0.26%
D&A (Non-Cash Add-back)	17K	30K	198K	399K	449K
EBIT	-5.74M	-9.67M	-12.63M	-31.6M	-36.12M
Net Interest Income+	-9K	5K	7K	49K	3.72M
Interest Income	12K	5K	23K	74K	3.74M
Interest Expense	21K	0	16K	25K	20K
Other Income/Expense	-9K	131K	173K	45K	3.86M
Pretax Income+	-5.75M	-9.67M	-12.65M	-31.62M	-36.14M
Pretax Margin %	-	-	-	-	-
Income Tax+	1K	0	0	9K	6K
Effective Tax Rate %	1%	1%	1%	1%	1%
Net Income+	-5.75M	-9.67M	-12.65M	-31.63M	-36.14M
Net Margin %	-	-	-	-	-
Net Income Growth %	-	-0.68%	-0.31%	-1.5%	-0.14%
Net Income (Continuing)	-5.75M	-9.67M	-12.65M	-31.63M	-36.14M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.62	-0.40	-0.63	-1.19	-1.18
EPS Growth %	-	0.35%	-0.57%	-0.89%	0.01%
EPS (Basic)	-0.62	-0.40	-0.63	-1.19	-1.18
Diluted Shares Outstanding	9.21M	24.1M	19.98M	26.59M	30.54M
Basic Shares Outstanding	9.21M	24.1M	19.98M	26.59M	30.54M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	25.67M	17.43M	42.81M	89.94M	147.07M
Cash & Short-Term Investments	25.62M	17.34M	42.09M	88.16M	145.15M
Cash Only	25.62M	17.34M	42.09M	88.16M	31.68M
Short-Term Investments	0	0	0	0	113.47M
Accounts Receivable	40K	23K	19K	867K	594K
Days Sales Outstanding	-	-	-	-	-
Inventory	0	0	-19K	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	0	0	19K	0	0
Total Non-Current Assets+	73K	917K	1.47M	4.7M	5.06M
Property, Plant & Equipment	66K	94K	1.38M	1.3M	965K
Fixed Asset Turnover	-	-	-	-	-
Goodwill	0	0	0	0	0
Intangible Assets	0	0	31K	3.23M	3.99M
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	7K	823K	57K	166K	103K
Total Assets+	25.74M	18.35M	44.27M	94.64M	152.13M
Asset Turnover	-	-	-	-	-
Asset Growth %	-	-0.29%	1.41%	1.14%	0.61%
Total Current Liabilities+	972K	1.64M	2.1M	3.63M	6.05M
Accounts Payable	0	0	0	0	0
Days Payables Outstanding	-	-	-	-	-
Short-Term Debt	0	0	198K	308K	0
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	5K	24K	1.33M	2.29M	992K
Current Ratio	26.41x	10.66x	20.35x	24.76x	24.31x
Quick Ratio	26.41x	10.66x	20.35x	24.76x	24.31x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	31.81M	31.81M	668K	578K	261K
Long-Term Debt	31.81M	31.81M	0	0	0
Capital Lease Obligations	0	0	668K	578K	261K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0
Total Liabilities	32.78M	33.44M	2.77M	4.21M	6.31M
Total Debt+	31.81M	31.81M	866K	886K	537K
Net Debt	6.19M	14.46M	-41.22M	-87.27M	-31.14M
Debt / Equity	-	-	0.02x	0.01x	0.00x
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-273.48x	-	-801.31x	-1266.72x	-1999.80x
Total Equity+	-7.04M	-15.09M	41.5M	90.43M	145.82M
Equity Growth %	-	-1.14%	3.75%	1.18%	0.61%
Book Value per Share	-0.76	-0.63	2.08	3.40	4.78
Total Shareholders' Equity	-7.04M	-15.09M	41.5M	90.43M	145.82M
Common Stock	1K	1K	3K	3K	3K
Retained Earnings	-17.56M	-27.22M	-39.87M	-71.5M	-107.65M
Treasury Stock	0	0	0	0	0
Accumulated OCI	-44K	-196K	-392K	-374K	-660K
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-4.44M	-7.47M	-11.46M	-29.84M	-29.23M
Operating CF Margin %	-	-	-	-	-
Operating CF Growth %	-	-0.68%	-0.53%	-1.6%	0.02%
Net Income	-5.75M	-9.67M	-12.65M	-31.63M	-36.14M
Depreciation & Amortization	17K	30K	198K	399K	449K
Stock-Based Compensation	1.36M	1.53M	1.48M	3.82M	8.99M
Deferred Taxes	-1.39M	0	-1.91M	-4.69M	0
Other Non-Cash Items	1.39M	-8K	1.91M	4.69M	-3.66M
Working Capital Changes	-69K	640K	-491K	-2.43M	1.13M
Change in Receivables	4K	0	-32K	-72K	74K
Change in Inventory	0	0	0	0	0
Change in Payables	0	0	0	0	0
Cash from Investing+	-20K	-56K	-394K	-63K	-110.57M
Capital Expenditures	-20K	-74K	-394K	-63K	-116K
CapEx % of Revenue	-	-	-	-	-
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	0	-35K
Cash from Financing+	28.06M	-583K	36.96M	75.96M	83.59M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	86K	0	-1.03M	-1.23M	41.36M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-4.46M	-7.55M	-11.85M	-29.9M	-29.39M
FCF Margin %	-	-	-	-	-
FCF Growth %	-	-0.69%	-0.57%	-1.52%	0.02%
FCF per Share	-0.48	-0.31	-0.59	-1.12	-0.96
FCF Conversion (FCF/Net Income)	0.77x	0.77x	0.91x	0.94x	0.81x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	9K	6K

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-95.79%	-47.95%	-30.6%
Return on Invested Capital (ROIC)	-	-	-	-1381.68%	-50.91%
Debt / Equity	-	-	0.02x	0.01x	0.00x
Interest Coverage	-273.48x	-	-801.31x	-1266.72x	-1999.80x
FCF Conversion	0.77x	0.77x	0.91x	0.94x	0.81x

Frequently Asked Questions

Growth & Financials

Belite Bio, Inc (BLTE) grew revenue by 0.0% over the past year. Growth has been modest.

Belite Bio, Inc (BLTE) reported a net loss of $49.4M for fiscal year 2024.

Dividend & Returns

Belite Bio, Inc (BLTE) has a return on equity (ROE) of -30.6%. Negative ROE indicates the company is unprofitable.

Belite Bio, Inc (BLTE) had negative free cash flow of $29.4M in fiscal year 2024, likely due to heavy capital investments.

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