The company continues to operate without revenue, resulting in a persistent negative operating margin that widened to $13.6 million in 2026Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 75K | 73K | 59K | 97K | 8.07M | 204.39K | 195.88K | 258.52K | 630.5K | 956.15K | 504.45K |
| Revenue Growth % | - | - | -100% | 2.74% | 23.73% | -39.18% | -98.8% | 3850.59% | 4.34% | -24.23% | -59% | -34.06% | 89.54% | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 9K | 123K | -185K | 304.08K | 243.86K | 160K | 77.44K | 23.33K | 35.38K | 162.81K |
| COGS % of Revenue | - | - | - | - | 12.33% | 208.47% | -190.72% | 3.77% | 119.31% | 81.68% | 29.96% | 3.7% | 3.7% | 32.27% |
| Gross Profit | 0 | 0 | 0 | 75K | 64K | -64K | 282K | 7.77M | -39.47K | 35.88K | 181.07K | 607.17K | 920.77K | 341.64K |
| Gross Margin % | - | - | - | 100% | 87.67% | -108.47% | 290.72% | 96.23% | -19.31% | 18.32% | 70.04% | 96.3% | 96.3% | 67.73% |
| Gross Profit Growth % | - | - | -100% | 17.19% | 200% | -122.69% | -96.37% | 19786.26% | -210.01% | -80.18% | -70.18% | -34.06% | 169.51% | - |
| Operating Expenses | 53.94M | 41.77M | 22.49M | 19.16M | 17.92M | 13.53M | 8.56M | 7.77M | -39.47K | 12.23M | 18.81M | 10.74M | 14.45M | 7.88M |
| OpEx % of Revenue | - | - | - | 25541.33% | 24545.21% | 22935.59% | 8827.84% | 96.23% | -19.31% | 6241.21% | 7274.26% | 1703.9% | 1511.18% | 1562.59% |
| Selling, General & Admin | 34.74M | 23.43M | 6.99M | 6.38M | 6.65M | 6.51M | 5.57M | 3.23M | 4.72M | 5.35M | 6.52M | 4.69M | 7.2M | 4.05M |
| SG&A % of Revenue | - | - | - | 8509.33% | 9104.11% | 11037.29% | 5739.18% | 39.94% | 2308.48% | 2731.53% | 2523.93% | 744.22% | 753.19% | 803.51% |
| Research & Development | 19.2M | 18.33M | 15.61M | 12.77M | 11.27M | 7.02M | 3M | 3.19M | 3.73M | 4.07M | 7.4M | 3.63M | 5.51M | 3.17M |
| R&D % of Revenue | - | - | - | 17032% | 15441.1% | 11898.31% | 3093.81% | 39.54% | 1822.76% | 2079.58% | 2863.59% | 576.13% | 576.13% | 628.43% |
| Other Operating Expenses | 0 | 0 | -108K | 0 | 0 | 0 | -5K | 1.35M | -8.48M | 2.8M | 4.88M | 2.42M | 1.74M | 659.07K |
| Operating Income | -53.94M | -41.77M | -22.49M | -19.08M | -17.85M | -13.6M | -8.28M | 1.81M | -6.43M | -12.19M | -18.62M | -10.14M | -13.53M | -7.54M |
| Operating Margin % | - | - | - | -25441.33% | -24457.53% | -23044.07% | -8537.11% | 22.36% | -3143.94% | -6222.9% | -7204.22% | -1607.6% | -1414.88% | -1494.87% |
| Operating Income Growth % | - | -85.7% | -17.87% | -6.87% | -31.32% | -64.18% | -558.62% | 128.1% | 47.28% | 34.55% | -83.75% | 25.08% | -79.4% | - |
| EBITDA | -53.46M | -41.37M | -22.15M | -18.7M | -17.46M | -13.17M | -7.91M | 1.92M | -6.32M | -12.06M | -11.75M | -10.08M | -9.74M | -6.23M |
| EBITDA Margin % | - | - | - | -24933.33% | -23920.55% | -22325.42% | -8151.55% | 23.73% | -3092.61% | -6157.73% | -4543.77% | -1598.62% | -1018.59% | -1234.45% |
| EBITDA Growth % | -44.07% | -86.79% | -18.43% | -7.09% | -32.57% | -66.59% | -512.67% | 130.31% | 47.6% | -2.68% | -16.54% | -3.49% | -56.4% | - |
| D&A (Non-Cash Add-back) | 475K | 396K | 343K | 381K | 392K | 424K | 374K | 110.45K | 104.9K | 127.65K | 0 | 56.58K | 0 | 0 |
| EBIT | -53.94M | -41.77M | -22.49M | -19.08M | -18.18M | -13.88M | -8.28M | 1.81M | -6.43M | -3.34M | -11.91M | -6.09M | -9.74M | -6.23M |
| Net Interest Income | 1.59M | 0 | 0 | -33K | -32K | -6K | 62K | 85.28K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.59M | 0 | 0 | 0 | 0 | 0 | 62K | 85.28K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 33K | 32K | 6K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 5.05M | 3.85M | 739K | -481K | -354K | -286K | 7K | 18.18K | 131.94K | 8.84M | 4.82M | 3.42M | 3.35M | 1.22M |
| Pretax Income | -48.88M | -37.92M | -21.75M | -19.56M | -18.21M | -13.88M | -8.27M | 1.82M | -6.29M | -3.35M | -13.81M | -6.71M | -10.18M | -6.32M |
| Pretax Margin % | - | - | - | -26082.67% | -24942.47% | -23528.81% | -8529.9% | 22.59% | -3079.38% | -1708.71% | -5340.11% | -1064.66% | -1064.66% | -1253.01% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -382.98K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 6.06% |
| Net Income | -48.88M | -37.92M | -21.75M | -19.56M | -18.21M | -13.88M | -8.27M | 1.82M | -6.29M | -3.35M | -13.81M | -6.71M | -10.18M | -5.94M |
| Net Margin % | - | - | - | -26082.67% | -24942.47% | -23528.81% | -8529.9% | 22.59% | -3079.38% | -1708.71% | -5340.11% | -1064.66% | -1064.66% | -1177.09% |
| Net Income Growth % | -44.49% | -74.32% | -11.19% | -7.44% | -31.16% | -67.78% | -553.67% | 128.98% | -88.05% | 75.76% | -105.66% | 34.06% | -71.44% | - |
| Net Income (Continuing) | -48.88M | -37.92M | -21.75M | -19.56M | -18.21M | -13.88M | -8.27M | 1.82M | -6.29M | -3.35M | -13.81M | -6.71M | -10.18M | -5.94M |
| Discontinued Operations | 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 |
| EPS (Diluted) | -0.99 | -1.05 | -2.68 | -14.12 | -19.31 | -27.27 | -69.09 | 28.45 | -103.61 | -63.56 | -331.56 | -194.89 | -305.54 | -724.71 |
| EPS Growth % | 29.75% | 60.82% | 81.02% | 26.88% | 29.19% | 60.53% | -342.89% | 127.46% | -63.02% | 80.83% | -70.13% | 36.22% | 57.84% | - |
| EPS (Basic) | - | -1.05 | -2.68 | -14.12 | -19.31 | -27.27 | -69.09 | 28.45 | -103.61 | -63.56 | -331.56 | -194.89 | -305.54 | -724.71 |
| Diluted Shares Outstanding | 49.39M | 36.21M | 10.28M | 1.39M | 1.92M | 1.01M | 240.28K | 201.59K | 165.06K | 137.6K | 111.62K | 90.59K | 70.93K | 17.73K |
| Basic Shares Outstanding | 49.39M | 36.21M | 10.26M | 1.39M | 1.92M | 1.01M | 240.28K | 201.59K | 165.06K | 137.59K | 111.62K | 90.59K | 70.93K | 17.73K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Binary clinical trial dependency
As reported in recent financial statements, Benitec Biopharma's quarterly operating expenses have trended upward, reaching $13.6 million in 2026Q3, driven by a consistent expansion in both research and development outlays and administrative overhead as the company advances its lead clinical candidate toward critical data readouts.
The company's cost structure reflects the typical profile of a pre-revenue biotechnology firm where clinical trial progression necessitates higher spending on CROs and specialized manufacturing. Investors should monitor whether the recent uptick in SG&A, which reached $7.3 million in 2026Q3, represents a permanent shift in corporate infrastructure or temporary costs associated with trial preparation.
Based on the company's reported figures, stock-based compensation has become a recurring feature of the income statement, with $7.4 million recorded in 2026Q2 alone, suggesting that management is increasingly utilizing equity-based incentives to preserve cash reserves while funding the development of the ddRNAi platform.
The reliance on stock-based compensation to manage liquidity may mask the true economic cost of operations and poses a risk of significant dilution for existing shareholders. Analysts should evaluate whether these non-cash charges are effectively aligning management interests with long-term clinical success or merely serving as a stopgap for cash preservation.
According to historical income statement data, Benitec Biopharma continues to operate without revenue, resulting in a persistent negative operating margin that widened to $13.6 million in 2026Q3, indicating that the firm lacks the scale to leverage its fixed cost base against any commercial activity.
The absence of revenue means that every dollar spent on R&D and SG&A directly impacts the bottom line, leaving no room for operational efficiency gains until a commercial product is realized. The current trajectory suggests that the company will remain entirely dependent on external capital or existing cash reserves to fund its ongoing clinical development programs.
As indicated by the company's financial history, the lack of diversified revenue streams leaves the firm highly vulnerable to clinical failure, with quarterly net losses consistently exceeding $10 million, which warrants further investigation into the sustainability of the current cash burn rate beyond the near-term runway.
Short-term observers may focus on the high cash burn as a primary risk, but the more significant concern is the lack of a valuation floor should the BB-301 program encounter regulatory or efficacy hurdles. The company's reliance on a single platform technology means that any negative clinical data could lead to a rapid erosion of enterprise value, regardless of the current cash position.
Quick answers to the most common questions about buying BNTC stock.
For fiscal year 2025, Benitec Biopharma Inc. (BNTC) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.5M in 2013.
Benitec Biopharma Inc. (BNTC) reported a net loss of $37.9M for the fiscal year ending 2025.