The company remains a pre-revenue entity, with 2026Q1 operating expenses of $14.5 million highlighting the absence of scaling benefits as R&D intensity continues to drive net losses.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 1.22M | 1.25M | 1.09M | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -1.22M | -1.25M | -1.09M | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -15.19% | - | - | - | - | - | - | - |
| Operating Expenses | 59.47M | 62.3M | 72.18M | 54.8M | 46.47M | 25.3M | 134.37M | 93.18M | 60.05M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 18.25M | 18.71M | 18M | 12.16M | 9.31M | 6.02M | 30M | 17.27M | 11.28M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 42.44M | 44.84M | 55.27M | 42.64M | 37.16M | 19.28M | 104.37M | 75.9M | 48.77M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1.22M | -1.25M | -1.09M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -60.69M | -63.55M | -73.27M | -54.8M | -46.47M | -25.3M | -134.37M | -93.18M | -60.05M |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 13.26% | -33.71% | -17.92% | -83.66% | 81.17% | -44.21% | -55.18% | - |
| EBITDA | -59.47M | -62.3M | -72.18M | -53.84M | -45.53M | -24.62M | -126.92M | -89.43M | -58.47M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 18.07% | 13.69% | -34.07% | -18.26% | -84.93% | 80.6% | -41.92% | -52.96% | - |
| D&A (Non-Cash Add-back) | 1.22M | 1.25M | 1.09M | 957K | 942K | 682K | 7.46M | 3.75M | 1.58M |
| EBIT | -58.03M | -63.55M | -65.36M | -54.8M | -46.47M | -25.3M | 0 | -93.18M | -60.05M |
| Net Interest Income | 4.69M | 5.36M | 7.89M | 5.28M | 668K | 96K | 0 | 0 | 0 |
| Interest Income | 4.69M | 5.36M | 7.89M | 5.28M | 668K | 96K | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 4.69M | 5.36M | 7.9M | 5.36M | 568K | 91K | 5.55M | 693K | 378K |
| Pretax Income | -55.99M | -58.2M | -65.36M | -49.43M | -45.9M | -25.21M | -128.82M | -92.48M | -59.67M |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.25M | 378K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 2.43% | -0.63% |
| Net Income | -55.99M | -58.2M | -65.36M | -49.43M | -45.9M | -25.21M | -128.82M | -90.24M | -59.67M |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 14.76% | 10.96% | -32.22% | -7.7% | -82.07% | 80.43% | -42.76% | -51.23% | - |
| Net Income (Continuing) | -55.99M | -58.2M | -65.36M | -49.43M | -45.9M | -25.21M | -128.82M | -90.24M | -59.67M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.50 | -2.60 | -3.85 | -2.22 | -2.06 | -1.13 | -2.93 | -3.40 | -5.59 |
| EPS Growth % | 18.3% | 32.47% | -73.42% | -7.77% | -82.3% | 61.43% | 13.82% | 39.18% | - |
| EPS (Basic) | - | -2.60 | -3.85 | -2.22 | -2.06 | -1.13 | -2.93 | -2.05 | -1.36 |
| Diluted Shares Outstanding | 22.41M | 22.36M | 16.98M | 22.24M | 22.24M | 22.24M | 44.03M | 26.58M | 10.67M |
| Basic Shares Outstanding | 22.41M | 22.36M | 16.98M | 22.24M | 22.24M | 22.24M | 44.03M | 44.03M | 44.03M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Clinical Trial Funding Gap
As reported in recent financial statements, Boundless Bio maintains a high-cost structure dominated by R&D expenditures, which reached $9.7 million in 2026Q1, reflecting the capital-intensive nature of advancing the BBI-355 and BBI-825 programs through critical clinical trial phases without any offsetting revenue streams.
The company's cost profile is entirely focused on clinical development, with R&D consistently consuming the vast majority of operational resources. This reliance on external funding to cover these fixed costs suggests that the firm remains in a high-risk phase where operational discipline is secondary to achieving clinical milestones.
Based on the company's reported figures, the lack of revenue generation results in a persistent operating loss, with 2026Q1 operating expenses of $14.5 million highlighting the absence of any scaling benefits as the firm continues to prioritize pipeline development over commercialization or cost-efficient operations.
Because the company has yet to achieve commercial viability, traditional operating leverage metrics are not applicable. Investors should monitor the ratio of R&D to SG&A, as any significant shift toward administrative bloat could indicate a premature move away from the core scientific mission.
According to recent SEC filings, Boundless Bio's net loss of $13.6 million in 2026Q1 underscores the company's status as a pre-revenue entity, where reported earnings are primarily a function of clinical trial investment rather than operational performance or underlying business profitability.
The quality of these losses is typical for a clinical-stage biotech, though the volatility in quarterly net income suggests sensitivity to the timing of trial-related expenses. Analysts should focus on the cash burn rate rather than the bottom-line figure to assess the true sustainability of the current development trajectory.
As indicated by the reported cash position of $17.9 million, the company faces a significant liquidity challenge, which may necessitate dilutive financing in the near term to sustain the ongoing clinical trials for its lead ecDNA-targeted oncology candidates.
The limited cash runway creates a structural risk that could force management to prioritize short-term capital raises over long-term value creation. This vulnerability warrants close monitoring, as any delay in clinical data readouts could exacerbate the firm's dependence on volatile equity markets for survival.
Quick answers to the most common questions about buying BOLD stock.
For fiscal year 2025, Boundless Bio, Inc. (BOLD) reported total revenue of $0.0M.
Boundless Bio, Inc. (BOLD) reported a net loss of $58.2M for the fiscal year ending 2025.