Revenue generation remains absent as of 2026Q1, while the company continues to incur quarterly R&D expenses of $1.1 million without a sustainable commercial model.
| Sales/Revenue | 0 | 0 | 0 | 0 | 1.35M | 1.35M | 180K | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 100% | - | - | -100% | 0% | 650.56% | - | - | - | - | - | - | - |
| Cost of Goods Sold | 19K | 87K | 0 | 302K | 0 | 0 | 0 | 77K | 48K | 32K | 18K | 10K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -19K | -87K | 0 | -302K | 1.35M | 1.35M | 180K | -77K | -48K | -32K | -18K | -10K | 0 |
| Gross Margin % | - | - | - | - | 100% | 100% | 100% | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | 100% | -122.35% | 0% | 650.56% | 333.77% | -60.42% | -50% | -77.78% | -80% | - | - |
| Operating Expenses | 8.55M | 8.86M | 8.75M | 14.78M | 38.59M | 67.59M | 64.39M | 40.23M | 57.55M | 97.98M | 12.37M | 7.47M | 2.11M |
| OpEx % of Revenue | - | - | - | - | 2856.4% | 5003.03% | 35772.78% | - | - | - | - | - | - |
| Selling, General & Admin | 3.98M | 4.56M | 6.11M | 7.51M | 13.01M | 30.7M | 22.6M | 8.89M | 5.93M | 9.05M | 1.93M | 1.19M | 233K |
| SG&A % of Revenue | - | - | - | - | 962.84% | 2272.61% | 12554.44% | - | - | - | - | - | - |
| Research & Development | 4.59M | 4.39M | 2.64M | 7.27M | 25.58M | 36.89M | 41.79M | 31.34M | 51.62M | 88.93M | 10.44M | 6.28M | 1.88M |
| R&D % of Revenue | - | - | - | - | 1893.56% | 2730.42% | 23218.33% | - | - | - | - | - | - |
| Other Operating Expenses | -19K | -87K | 0 | 0 | 0 | 0 | 0 | 0 | 315K | 918K | 0 | 0 | 0 |
| Operating Income | -8.57M | -8.95M | -8.75M | -15.08M | -37.24M | -66.24M | -64.21M | -40.31M | -57.55M | -97.98M | -12.37M | -7.47M | -2.11M |
| Operating Margin % | - | - | - | - | -2756.4% | -4903.03% | -35672.78% | - | - | - | - | - | - |
| Operating Income Growth % | - | -2.18% | 41.95% | 59.5% | 43.78% | -3.16% | -59.3% | 29.96% | 41.27% | -692.21% | -65.46% | -254.43% | - |
| EBITDA | -8.36M | -8.86M | -8.47M | -14.78M | -36.09M | -66.18M | -64.13M | -40.23M | -57.5M | -97.95M | -12.35M | -7.46M | -2.19M |
| EBITDA Margin % | - | - | - | - | -2671.72% | -4898.52% | -35630% | - | - | - | - | - | - |
| EBITDA Growth % | -13.57% | -4.59% | 42.7% | 59.06% | 45.46% | -3.19% | -59.42% | 30.03% | 41.3% | -693.11% | -65.44% | -241.34% | - |
| D&A (Non-Cash Add-back) | 204K | 87K | 285K | 302K | 1.14M | 61K | 77K | 77K | 48K | 32K | 18K | 10K | -78K |
| EBIT | -8.57M | -8.95M | -8.75M | -13.92M | -36.1M | -64.55M | -63.74M | -40.13M | -57.47M | -96.39M | -12.37M | -7.48M | -2.09M |
| Net Interest Income | 69K | 78K | 59K | 421K | 178K | 11K | 31K | -22K | 211K | 120K | -159K | -519K | -823K |
| Interest Income | 69K | 78K | 59K | 421K | 195K | 98K | 116K | 184K | 211K | 120K | 18K | 13K | 3K |
| Interest Expense | 0 | 0 | 0 | 0 | 17K | 87K | 85K | 206K | 0 | 0 | 177K | 532K | 826K |
| Other Income/Expense | 347K | 320K | -15K | 1.16M | 1.12M | 1.6M | 390K | -26K | 71K | 1.59M | -177K | -577K | -904K |
| Pretax Income | -8.22M | -8.63M | -8.77M | -13.92M | -36.12M | -64.64M | -63.82M | -40.33M | -57.47M | -96.39M | -12.54M | -8.05M | -3.01M |
| Pretax Margin % | - | - | - | - | -2673.35% | -4784.46% | -35456.11% | - | - | - | - | - | - |
| Income Tax | 262K | 90K | 96K | 92K | 163K | 3.57M | 0 | 0 | 0 | 0 | 0 | 495K | 0 |
| Effective Tax Rate % | -3.19% | -1.04% | -1.09% | -0.66% | -0.45% | -5.52% | 0% | 0% | 0% | 0% | 0% | -6.15% | 0% |
| Net Income | -7.64M | -7.99M | -11.12M | -21.03M | -33.28M | -64.18M | -60.97M | -38.09M | -54.87M | -91.76M | -12.01M | -7.97M | -3.01M |
| Net Margin % | - | - | - | - | -2463.29% | -4750.48% | -33873.89% | - | - | - | - | - | - |
| Net Income Growth % | -153.47% | 28.15% | 47.1% | 36.82% | 48.15% | -5.26% | -60.1% | 30.59% | 40.21% | -664.06% | -50.69% | -164.52% | - |
| Net Income (Continuing) | -8.48M | -8.71M | -8.87M | -14.02M | -36.28M | -68.21M | -63.82M | -40.33M | -57.47M | -96.39M | -12.54M | -8.01M | -3.01M |
| Discontinued Operations | -1.7M | 481K | -2.65M | -7.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 4.13M | 8.17M | 18.61M | 3.34M | 2.97M | -5.76M | 3.48M | 854K | -1.62M | 960K | 147K | 708K | 0 |
| EPS (Diluted) | -0.19 | -0.20 | -0.28 | -0.54 | -0.85 | -1.64 | -2.04 | -1.55 | -2.42 | -4.40 | -0.71 | -0.50 | -0.19 |
| EPS Growth % | -146.3% | 28.57% | 48.15% | 36.47% | 48.17% | 19.61% | -31.61% | 35.95% | 45% | -519.72% | -42% | -163.16% | - |
| EPS (Basic) | - | -0.20 | -0.28 | -0.54 | -0.85 | -1.64 | -2.04 | -1.55 | -2.42 | -4.40 | -0.75 | -0.53 | -0.19 |
| Diluted Shares Outstanding | 41.12M | 40.41M | 39.73M | 39M | 39.09M | 39.02M | 29.98M | 24.65M | 22.67M | 20.87M | 16.88M | 15.82M | 15.82M |
| Basic Shares Outstanding | 41.12M | 40.41M | 39.73M | 39M | 39.09M | 39.02M | 29.98M | 24.65M | 22.67M | 20.87M | 16.09M | 15.17M | 15.82M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Regulatory and liquidity insolvency
As indicated by the company's recent financial disclosures, BeyondSpring has failed to generate consistent product revenue, with quarterly figures showing a complete absence of sales since 2024, underscoring the firm's status as a pre-commercial entity reliant on speculative milestone payments rather than a sustainable, recurring business model.
The lack of top-line growth reflects the company's inability to transition from clinical-stage development to commercialization. Investors should interpret the absence of revenue as a signal that the firm remains entirely dependent on external capital to fund its ongoing research and development activities.
According to the latest income statement data, BeyondSpring continues to incur significant quarterly R&D expenses, which reached $1.1 million in 2026Q1, despite the absence of any offsetting product revenue, highlighting a persistent and unsustainable burn rate that threatens the company's long-term operational viability.
The cost structure is dominated by fixed clinical trial and regulatory expenses that do not scale with revenue. This rigid expense profile suggests that management has limited flexibility to reduce cash outflows without potentially abandoning the development of its lead assets entirely.
Based on reported financial statements, the company's net income has exhibited extreme volatility, including a anomalous $4.5 million profit in 2025Q1, which appears to be driven by non-operating items rather than core business performance, warranting significant skepticism regarding the quality of the firm's reported earnings.
The erratic nature of the bottom line suggests that investors should focus on cash burn rather than net income metrics. Such fluctuations often indicate accounting adjustments or one-time gains that fail to reflect the underlying economic health of the biotechnology platform.
As highlighted by the failure to secure FDA approval for Plinabulin, the company's primary value proposition faces severe regulatory headwinds, suggesting that the current income statement trajectory is likely to remain negative as the firm struggles to overcome clinical and regulatory barriers to market entry.
The market's focus on the Seed Therapeutics platform may be an attempt to find value in a distressed entity, but the core income statement remains burdened by the costs of failed regulatory efforts. This suggests that the firm's path to profitability is not only uncertain but potentially blocked by structural regulatory requirements.
Quick answers to the most common questions about buying BYSI stock.
For fiscal year 2025, BeyondSpring Inc. (BYSI) reported total revenue of $0.0M.
BeyondSpring Inc. (BYSI) reported a net loss of $8.0M for the fiscal year ending 2025.