Despite maintaining robust gross margins of 90.8% in 2025Q4, the company remains unable to achieve operating profitability, resulting in a deeply negative operating margin of -149.9%.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'14 | Dec'13 | Dec'12 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'05 | Dec'04 |
|---|
| Sales/Revenue | 3.09M | 3.06M | 2.91M | 2.86M | 3.3M | 3.18M | 4.09M | 674.61M | 637.31M | 518.17M | 386.44M | 361.17M | 301.97M | 266.11M | 35.68M | 7.02M |
| Revenue Growth % | 0.98% | 5.33% | 1.61% | -13.24% | 3.9% | -22.39% | -99.39% | 5.85% | 22.99% | 34.09% | 7% | 19.6% | 13.48% | 645.86% | 408.31% | - |
| Cost of Goods Sold | 318K | 240K | 96K | 98K | 90K | 94K | 114K | 351.11M | 184.07M | 152.22M | 112.44M | 104.82M | 82.64M | 69.82M | 12.32M | 830K |
| COGS % of Revenue | 10.28% | 7.83% | 3.3% | 3.42% | 2.73% | 2.96% | 2.79% | 52.05% | 28.88% | 29.38% | 29.1% | 29.02% | 27.37% | 26.24% | 34.55% | 11.82% |
| Gross Profit | 2.78M | 2.82M | 2.81M | 2.77M | 3.21M | 3.08M | 3.98M | 323.5M | 453.24M | 365.95M | 274M | 256.34M | 219.33M | 196.29M | 23.35M | 6.19M |
| Gross Margin % | 89.72% | 92.17% | 96.7% | 96.58% | 97.27% | 97.04% | 97.21% | 47.95% | 71.12% | 70.62% | 70.9% | 70.98% | 72.63% | 73.76% | 65.45% | 88.17% |
| Gross Profit Growth % | -1.7% | 0.39% | 1.74% | -13.86% | 4.15% | -22.52% | -98.77% | -28.63% | 23.85% | 33.56% | 6.89% | 16.88% | 11.74% | 740.54% | 277.33% | - |
| Operating Expenses | 9.23M | 6.04M | 3.69M | 3.8M | 3.63M | 4.75M | 7.23M | 49.31M | 44.17M | 38.02M | 25.9M | 22.92M | 22.83M | 21.87M | 3.23M | 955K |
| OpEx % of Revenue | 298.32% | 197.1% | 126.88% | 132.59% | 110.15% | 149.53% | 176.76% | 7.31% | 6.93% | 7.34% | 6.7% | 6.35% | 7.56% | 8.22% | 9.04% | 13.61% |
| Selling, General & Admin | 4.6M | 3.13M | 1.85M | 1.71M | 1.65M | 1.79M | 3.25M | 49.31M | 44.17M | 38.02M | 25.9M | 22.92M | 22.83M | 21.87M | 3.23M | 955K |
| SG&A % of Revenue | 148.74% | 101.99% | 63.46% | 59.76% | 50.03% | 56.27% | 79.35% | 7.31% | 6.93% | 7.34% | 6.7% | 6.35% | 7.56% | 8.22% | 9.04% | 13.61% |
| Research & Development | 4.6M | 2.89M | 1.82M | 2.06M | 2.03M | 2.73M | 3.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 148.77% | 94.42% | 62.7% | 72.06% | 61.58% | 85.86% | 97.41% | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 25K | 21K | 21K | 22K | -48K | 235K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -6.45M | -3.21M | -878K | -1.03M | -425K | -1.67M | -3.25M | 148.24M | 158.78M | 118M | 129.69M | 123.8M | 110.18M | 100.89M | 11.13M | 5.23M |
| Operating Margin % | -208.6% | -104.93% | -30.18% | -36.01% | -12.88% | -52.49% | -79.55% | 21.97% | 24.91% | 22.77% | 33.56% | 34.28% | 36.49% | 37.91% | 31.2% | 74.57% |
| Operating Income Growth % | -100.75% | -266.17% | 14.84% | -142.59% | 74.51% | 48.79% | -102.2% | -6.64% | 34.56% | -9.01% | 4.76% | 12.36% | 9.21% | 806.51% | 112.65% | - |
| EBITDA | -6.21M | -3.04M | -852K | -1M | -232K | -988K | -2.56M | 402.58M | 403.78M | 314.85M | 245.04M | 233.42M | 194.41M | 173.1M | 20.13M | 6.19M |
| EBITDA Margin % | -200.78% | -99.38% | -29.29% | -35.03% | -7.03% | -31.11% | -62.59% | 59.68% | 63.36% | 60.76% | 63.41% | 64.63% | 64.38% | 65.05% | 56.41% | 88.17% |
| EBITDA Growth % | -104.01% | -257.39% | 15.05% | -332.33% | 76.52% | 61.42% | -100.64% | -0.3% | 28.25% | 28.48% | 4.98% | 20.07% | 12.31% | 760.07% | 225.19% | - |
| D&A (Non-Cash Add-back) | 242K | 170K | 26K | 28K | 193K | 679K | 694K | 254.34M | 245M | 196.84M | 115.36M | 109.62M | 84.23M | 72.2M | 9M | 955K |
| EBIT | -5.96M | -3.19M | -451K | -1.05M | -841K | -2.24M | -3.25M | 98.5M | -61.08M | -87.78M | -47.43M | -6.28M | 25.29M | 44.88M | 1.18M | -567K |
| Net Interest Income | 504K | 483K | -108K | -142K | -59K | -556K | 200K | 0 | 0 | 0 | 86.42M | 65.31M | 40.1M | 28.64M | 4.73M | 2.9M |
| Interest Income | 549K | 599K | 97K | 0 | 0 | 0 | 200K | 0 | 0 | 0 | 172K | 308K | 485K | 990K | 200K | 1K |
| Interest Expense | 45K | 116K | 205K | 142K | 59K | 120K | 0 | -95.28M | -107.73M | -99.61M | -86.25M | -65M | -39.61M | -27.65M | -4.53M | -2.9M |
| Other Income/Expense | 449K | -92K | 222K | -165K | -475K | -697K | -567K | 45.54M | -112.14M | -106.18M | -90.87M | -65.08M | -45.29M | -28.36M | -5.42M | -2.9M |
| Pretax Income | -6M | -3.31M | -656K | -1.2M | -900K | -2.36M | -3.82M | 193.78M | 46.64M | 11.82M | 38.82M | 58.72M | 64.9M | 72.53M | 5.71M | 2.33M |
| Pretax Margin % | -194.09% | -107.93% | -22.55% | -41.77% | -27.27% | -74.43% | -93.4% | 28.72% | 7.32% | 2.28% | 10.04% | 16.26% | 21.49% | 27.26% | 16.01% | 33.25% |
| Income Tax | 15K | 46K | 39K | 52K | 52K | 95K | 114K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.25% | -1.39% | -5.95% | -4.35% | -5.78% | -4.02% | -2.98% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -6.02M | -3.35M | -695K | -1.25M | -952K | -2.46M | -3.94M | 193.78M | 46.64M | 11.82M | 38.82M | 58.72M | 64.9M | 72.53M | 5.71M | 2.33M |
| Net Margin % | -194.57% | -109.43% | -23.89% | -43.59% | -28.85% | -77.42% | -96.19% | 28.72% | 7.32% | 2.28% | 10.04% | 16.26% | 21.49% | 27.26% | 16.01% | 33.25% |
| Net Income Growth % | -79.54% | -382.45% | 44.31% | -31.09% | 61.29% | 37.53% | -102.03% | 315.44% | 294.45% | -69.54% | -33.9% | -9.52% | -10.53% | 1170.06% | 144.69% | - |
| Net Income (Continuing) | -6.02M | -3.35M | -695K | -1.25M | -952K | -2.46M | -3.94M | 193.78M | 46.64M | 11.82M | 38.82M | 58.72M | 64.9M | 72.53M | 5.71M | 2.33M |
| 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 | 21.33M | 47.04M | 7.68M | 9.72M | 9.59M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.39 | -0.22 | -0.09 | -0.48 | -0.37 | -0.12 | -1.53 | 0.94 | 0.25 | 0.08 | 0.34 | 0.64 | 0.87 | 1.06 | 0.00 | 0.00 |
| EPS Growth % | -77.27% | -142.83% | 81.13% | -29.73% | -208.33% | 92.16% | -262.77% | 276% | 229.38% | -77.68% | -46.88% | -26.44% | -17.92% | - | - | - |
| EPS (Basic) | -0.39 | -0.22 | -0.06 | -0.48 | -0.37 | -0.12 | -1.53 | 1.00 | 0.26 | 0.08 | 0.34 | 0.65 | 0.91 | 1.11 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 15.53M | 15.17M | 11.45M | 2.58M | 2.58M | 20.38M | 2.57M | 207.23M | 186.4M | 155.7M | 115.72M | 91.85M | 74.83M | 68.27M | 0 | 0 |
| Basic Shares Outstanding | 15.53M | 15.17M | 11.19M | 2.58M | 2.58M | 20.38M | 2.57M | 193M | 182.04M | 152.75M | 112.7M | 91.01M | 71.68M | 65.3M | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and scaling
Based on reported financial data, Beamr Imaging has struggled to achieve meaningful top-line growth, with recent quarterly revenue of $2.0M reflecting a 1.8% year-over-year decline, suggesting that the company has yet to successfully capitalize on broader industry demand for advanced video optimization and compression technologies.
The lack of consistent revenue expansion indicates a potential disconnect between the company's proprietary technology and its commercial go-to-market strategy. Investors should monitor whether the recent integration with NVIDIA's NVENC ecosystem can catalyze a shift from stagnant, lumpy licensing revenue to a more predictable, scalable growth trajectory.
As evidenced by the company's income statements, Beamr maintains robust gross margins consistently exceeding 90%, which highlights the inherent scalability of its intellectual property-based licensing model, yet this structural advantage is currently overshadowed by an inability to achieve operating profitability at the current revenue scale.
While the 90.8% gross margin reported in 2025Q4 confirms the low marginal cost of software delivery, the company's inability to leverage this into positive operating income suggests that the cost of maintaining its R&D-heavy structure is disproportionate to its current commercial footprint. This margin profile implies that the business model is highly sensitive to volume, requiring a significant revenue inflection to justify its fixed cost base.
According to historical income statements, Beamr's operating expenses, particularly R&D and SG&A, have consistently outpaced revenue generation, resulting in a deeply negative operating margin of -149.9% in the most recent quarter, which underscores the company's reliance on heavy investment to sustain its competitive technical edge.
The company's cost structure appears heavily weighted toward specialized engineering talent, which is essential for maintaining its patent-protected optimization logic but creates a high break-even threshold. Without a substantial increase in commercial adoption, the current expense discipline may prove insufficient to prevent further erosion of the company's limited cash reserves.
Based on the provided financial figures, the company's persistent net losses and limited cash runway suggest that Beamr faces significant execution risk, as the current burn rate appears unsustainable without either a rapid acceleration in commercial licensing or the procurement of additional dilutive capital to fund operations.
Short-sellers would likely focus on the widening gap between technical validation and the lack of tangible revenue growth, which may indicate that the company's technology is not yet a commercial priority for major OTT platforms. The reliance on lumpy, non-recurring licensing fees warrants further investigation into the quality and durability of the company's future earnings potential.
Quick answers to the most common questions about buying BMR stock.
For fiscal year 2025, Beamr Imaging Ltd. (BMR) reported total revenue of $3.1M. This represents a 55.9% decline compared to $7.0M in 2004.
Beamr Imaging Ltd. (BMR) reported a net loss of $6.0M for the fiscal year ending 2025.
Beamr Imaging Ltd. (BMR) reported an operating income of $-6.5M, resulting in an operating profit margin of -208.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Beamr Imaging Ltd. (BMR) generated $2.8M in gross profit for the year, representing a gross profit margin of 89.7%. This demonstrates the company's core pricing power and production efficiency.