Belite Bio, Inc(BLTE)Earnings, Financials & Key Ratios
BLTE•NASDAQ
$156.00
$4.96B mkt cap·Price updated May 7, 2026
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%
- ROE-30.6%+36.2%
- ROIC-50.91%+96.3%
- Debt/Equity0.00-62.4%
- Interest Coverage-1999.80-57.9%
BLTE Key Insights
Belite Bio, Inc (BLTE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Momentum leader: RS Rating 85 (top 15%)
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Shares diluted 14.8% in last year
- ✗Expensive at 32.7x book value
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BLTE Price & Volume
Belite Bio, Inc (BLTE) stock price & volume — 10-year historical chart
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BLTE Growth Metrics
Belite Bio, Inc (BLTE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-39.91%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-25.2%
Return on Capital
10 Years-39.05%
5 Years-39.05%
3 Years-41.61%
Last Year-33.74%
BLTE Recent Earnings
Belite Bio, Inc (BLTE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)
Q2 2026Latest
Mar 2, 2026EPS
$0.38
Est $0.56
+32.1%
Revenue
—
Est $17M
Q4 2025
Nov 10, 2025EPS
$0.65
Est $0.53
-22.6%
Revenue
—
Q3 2025
Aug 11, 2025EPS
$0.50
Est $0.47
-6.4%
Revenue
—
Q2 2025
May 13, 2025EPS
$0.45
Est $0.36
-25.0%
Revenue
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 2, 2026 | $0.38vs $0.56+32.1% | —vs $17M |
| Q4 2025 | Nov 10, 2025 | $0.65vs $0.53-22.6% | — |
| Q3 2025 | Aug 11, 2025 | $0.50vs $0.47-6.4% | — |
| Q2 2025 | May 13, 2025 | $0.45vs $0.36-25.0% | — |
Based on last 12 quarters of dataView full earnings history →
BLTE Peer Comparison
Belite Bio, Inc (BLTE) competitors in Ophthalmology Therapies and Delivery — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ACAD | 3.86B | 22.57 | 9.85 | 11.87% | 34.3% | 35.65% | 0.04 | |
 REPL | 265.97M | 3.34 | -1.09 | -149.55% | 0.18 | |||
 KRYS | 8.75B | 296.70 | 43.38 | 33.94% | 53.92% | 19.25% | 0.01 | |
 EDIT | 296.54M | 3.03 | -1.68 | -100% | -5.23% | 0.66 | ||
 BEAM | 3.23B | 31.47 | -38.85 | 120.01% | -49.17% | -5.89% | 0.24 | |
 RARE | 2.57B | 26.13 | -4.48 | 20.13% | -91.03% | -6.08% | ||
 FOLD | 4.55B | 14.49 | -164.85 | 20.05% | -4.27% | -12.02% | 1.76 | |
 REGN | 73.68B | 709.10 | 17.10 | 0.99% | 29.65% | 14.32% | 0.09 |
Compare BLTE vs Peers
Belite Bio, Inc (BLTE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BLTE Income Statement
Belite Bio, Inc (BLTE) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - |
| Operating Expenses | 5.74M | 9.8M | 12.82M | 31.67M | 40M | 54.31M |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 2.06M | 2.38M | 3.95M | 6.82M | 10.06M | 19.77M |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 3.69M | 7.42M | 8.87M | 24.84M | 29.94M | 34.54M |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -5.74M▲ 0% | -9.8M▼ 70.6% | -12.82M▼ 30.9% | -31.67M▼ 147.0% | -40M▼ 26.3% | -54.31M▲ 0% |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | -70.59% | -30.87% | -147% | -26.3% | - |
| EBITDA | -5.73M | -9.77M | -12.62M | -31.27M | -39.55M | -50.31M |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | - | -70.57% | -29.24% | -147.71% | -26.47% | -37.62% |
| D&A (Non-Cash Add-back) | 17K | 30K | 198K | 399K | 449K | 118.75K |
| EBIT | -5.74M | -9.67M | -12.63M | -31.6M | -36.12M | -49.16M |
| Net Interest Income | -9K | 5K | 7K | 49K | 3.72M | 0 |
| Interest Income | 12K | 5K | 23K | 74K | 3.74M | 0 |
| Interest Expense | 21K | 0 | 16K | 25K | 20K | 0 |
| Other Income/Expense | -9K | 131K | 173K | 45K | 3.86M | 4.93M |
| Pretax Income | -5.75M▲ 0% | -9.67M▼ 68.0% | -12.65M▼ 30.9% | -31.62M▼ 150.0% | -36.14M▼ 14.3% | -49.38M▲ 0% |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | 1K | 0 | 0 | 9K | 6K | 0 |
| Effective Tax Rate % | -0.02% | 0% | 0% | -0.03% | -0.02% | 0% |
| Net Income | -5.75M▲ 0% | -9.67M▼ 68.0% | -12.65M▼ 30.9% | -31.63M▼ 150.1% | -36.14M▼ 14.3% | -49.38M▲ 0% |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | - | -68.02% | -30.85% | -150.09% | -14.26% | -39.91% |
| Net Income (Continuing) | -5.75M | -9.67M | -12.65M | -31.63M | -36.14M | -49.38M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.62▲ 0% | -0.40▲ 35.5% | -0.63▼ 57.5% | -1.19▼ 88.9% | -1.18▲ 0.8% | -1.52▲ 0% |
| EPS Growth % | - | 35.48% | -57.5% | -88.89% | 0.84% | -25.2% |
| 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 | 32.59M |
| Basic Shares Outstanding | 9.21M | 24.1M | 19.98M | 26.59M | 30.54M | 32.59M |
| Dividend Payout Ratio | - | - | - | - | - | - |
BLTE Balance Sheet
Belite Bio, Inc (BLTE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 25.67M | 17.43M | 42.81M | 89.94M | 147.07M | 150.97M |
| Cash & Short-Term Investments | 25.62M | 17.34M | 42.09M | 88.16M | 145.15M | 0 |
| Cash Only | 25.62M | 17.34M | 42.09M | 88.16M | 31.68M | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 113.47M | 0 |
| Accounts Receivable | 40K | 23K | 19K | 867K | 594K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | 0 | 0 | -19K | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 19K | 0 | 0 | 150.97M |
| Total Non-Current Assets | 73K | 917K | 1.47M | 4.7M | 5.06M | 5.44M |
| Property, Plant & Equipment | 66K | 94K | 1.38M | 1.3M | 965K | 0 |
| Fixed Asset Turnover | - | - | - | - | - | 0.00x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 31K | 3.23M | 3.99M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7K | 823K | 57K | 166K | 103K | 15.01M |
| Total Assets | 25.74M▲ 0% | 18.35M▼ 28.7% | 44.27M▲ 141.3% | 94.64M▲ 113.8% | 152.13M▲ 60.7% | 156.41M▲ 0% |
| Asset Turnover | - | - | - | - | - | 0.00x |
| Asset Growth % | - | -28.72% | 141.3% | 113.77% | 60.74% | 256.24% |
| Total Current Liabilities | 972K | 1.64M | 2.1M | 3.63M | 6.05M | 6.52M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 198K | 308K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 5K | 24K | 1.33M | 2.29M | 992K | 6.52M |
| Current Ratio | 26.41x | 10.66x | 20.35x | 24.76x | 24.31x | 24.31x |
| Quick Ratio | 26.41x | 10.66x | 20.35x | 24.76x | 24.31x | 24.31x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 31.81M | 31.81M | 668K | 578K | 261K | 0 |
| Long-Term Debt | 31.81M | 31.81M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 668K | 578K | 261K | 261K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 32.78M | 33.44M | 2.77M | 4.21M | 6.31M | 6.52M |
| Total Debt | 31.81M | 31.81M | 866K | 886K | 537K | 0 |
| Net Debt | 6.19M | 14.46M | -41.22M | -87.27M | -31.14M | 0 |
| Debt / Equity | - | - | 0.02x | 0.01x | 0.00x | 0.00x |
| Debt / EBITDA | - | - | - | - | - | -0.00x |
| Net Debt / EBITDA | - | - | - | - | - | -0.00x |
| Interest Coverage | -273.48x | - | -801.31x | -1266.72x | -1999.80x | - |
| Total Equity | -7.04M▲ 0% | -15.09M▼ 114.5% | 41.5M▲ 375.0% | 90.43M▲ 117.9% | 145.82M▲ 61.3% | 149.88M▲ 0% |
| Equity Growth % | - | -114.48% | 374.97% | 117.9% | 61.25% | 268.43% |
| Book Value per Share | -0.76 | -0.63 | 2.08 | 3.40 | 4.78 | 4.60 |
| Total Shareholders' Equity | -7.04M | -15.09M | 41.5M | 90.43M | 145.82M | 149.88M |
| Common Stock | 1K | 1K | 3K | 3K | 3K | 149.88M |
| Retained Earnings | -17.56M | -27.22M | -39.87M | -71.5M | -107.65M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -44K | -196K | -392K | -374K | -660K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
BLTE Cash Flow Statement
Belite Bio, Inc (BLTE) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | -4.44M | -7.47M | -11.46M | -29.84M | -29.23M | -29.23M |
| Operating CF Margin % | - | - | - | - | - | - |
| Operating CF Growth % | - | -68.26% | -53.3% | -160.4% | 2.02% | 0% |
| Net Income | -5.75M | -9.67M | -12.65M | -31.63M | -36.14M | -49.38M |
| Depreciation & Amortization | 17K | 30K | 198K | 399K | 449K | 0 |
| Stock-Based Compensation | 1.36M | 1.53M | 1.48M | 3.82M | 8.99M | 8.99K |
| Deferred Taxes | -1.39M | 0 | -1.91M | -4.69M | 0 | 0 |
| Other Non-Cash Items | 1.39M | -8K | 1.91M | 4.69M | -3.66M | 33.56K |
| Working Capital Changes | -69K | 640K | -491K | -2.43M | 1.13M | 0 |
| Change in Receivables | 4K | 0 | -32K | -72K | 74K | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -20K | -56K | -394K | -63K | -110.57M | 0 |
| Capital Expenditures | -20K | -74K | -394K | -63K | -116K | 0 |
| CapEx % of Revenue | - | - | - | - | - | - |
| Acquisitions | 0 | 18K | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -35K | 0 |
| Cash from Financing | 28.06M | -583K | 36.96M | 75.96M | 83.59M | 0 |
| Debt Issued (Net) | -2.32M | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 1000K | -583K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 86K | 0 | -1.03M | -1.23M | 41.36M | 0 |
| Net Change in Cash | 23.6M▲ 0% | -8.27M▼ 135.1% | 24.75M▲ 399.1% | 46.07M▲ 86.2% | -56.48M▼ 222.6% | 0▲ 0% |
| Free Cash Flow | -4.46M▲ 0% | -7.55M▼ 69.2% | -11.85M▼ 57.0% | -29.9M▼ 152.3% | -29.39M▲ 1.7% | 0▲ 0% |
| FCF Margin % | - | - | - | - | - | - |
| FCF Growth % | - | -69.16% | -57.02% | -152.28% | 1.72% | - |
| FCF per Share | -0.48 | -0.31 | -0.59 | -1.12 | -0.96 | -0.96 |
| FCF Conversion (FCF/Net Income) | 0.77x | 0.77x | 0.91x | 0.94x | 0.81x | -0.00x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 9K | 6K | 0 |
BLTE Key Ratios
Belite Bio, Inc (BLTE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -95.79% | -47.95% | -30.6% | -34.9% |
| Return on Invested Capital (ROIC) | - | - | -1381.68% | -50.91% | -50.91% |
| Debt / Equity | - | 0.02x | 0.01x | 0.00x | 0.00x |
| Interest Coverage | - | -801.31x | -1266.72x | -1999.80x | - |
| FCF Conversion | 0.77x | 0.91x | 0.94x | 0.81x | -0.00x |
BLTE Frequently Asked Questions
Belite Bio, Inc (BLTE) stock FAQ — growth, dividends, profitability & financials explained
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.
Explore More BLTE
Belite Bio, Inc (BLTE) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates