The company reported a $5.1 million operating loss in 2026Q1, driven by $3.0 million in R&D expenditures that continue to outpace the lack of top-line revenue.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 234K | 832K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | -234K | -832K | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | - |
| Operating Expenses | 16.95M | 15.82M | 13.74M | 8.89M | 4.47M | 1.58M | 1.17M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 8.61M | 9.24M | 9.23M | 6.52M | 3.32M | 1.06M | 500K |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 8.58M | 7.41M | 4.5M | 2.37M | 1.15M | 521K | 669K |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | -234K | -832K | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -17.19M | -16.65M | -13.74M | -8.89M | -4.47M | -1.58M | -1.17M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -21.2% | -54.54% | -98.99% | -183.08% | -34.99% | - |
| EBITDA | -16.28M | -15.82M | -13.16M | -8.45M | -4.37M | -1.58M | 0 |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | -14.46% | -20.15% | -55.75% | -93.28% | -177.12% | - | - |
| D&A (Non-Cash Add-back) | 908K | 832K | 573K | 437K | 94K | 0 | 1.17M |
| EBIT | -18.47M | -18.44M | -11.14M | -16.34M | -4.47M | -1.58M | -1.17M |
| Net Interest Income | -40K | 43K | 231K | -147K | -654K | -4K | 0 |
| Interest Income | 168K | 247K | 251K | 0 | 0 | 0 | 0 |
| Interest Expense | 208K | 204K | 20K | 147K | 654K | 4K | 0 |
| Other Income/Expense | -1.49M | -2M | 2.58M | -7.6M | -654K | -4K | 0 |
| Pretax Income | -18.68M | -18.65M | -11.16M | -16.48M | -5.12M | -1.58M | -1.17M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -18.68M | -18.65M | -11.16M | -16.48M | -5.12M | -1.58M | -1.17M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | -143.64% | -67.06% | 32.3% | -221.91% | -223.7% | -35.33% | - |
| Net Income (Continuing) | -18.68M | -18.65M | -11.16M | -16.48M | -5.12M | -1.58M | -1.17M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -8.37 | -8.40 | -6.80 | -11.80 | -3.20 | -0.97 | -0.72 |
| EPS Growth % | -96.56% | -23.53% | 42.37% | -268.75% | -228.54% | -35.28% | - |
| EPS (Basic) | - | -8.40 | -6.80 | -11.80 | -3.20 | -0.97 | -0.72 |
| Diluted Shares Outstanding | 2.23M | 2.23M | 1.64M | 1.62M | 1.62M | 1.62M | 1.62M |
| Basic Shares Outstanding | 2.23M | 2.23M | 1.64M | 1.62M | 1.62M | 1.62M | 1.62M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Critical liquidity and dilution risk
As indicated by the most recent quarterly filings, FBLG's research and development expenditures have climbed to $3.0 million in 2026Q1, reflecting an aggressive push to advance clinical trials that continues to outpace the company's ability to generate any form of top-line revenue or operational offset.
The steady climb in R&D spending suggests that the company is prioritizing clinical milestone achievement over near-term cost containment. Investors should monitor whether this spending trajectory remains sustainable given the limited cash reserves, as the current lack of revenue leaves no margin for error in managing these fixed clinical costs.
Based on the reported financial statements, the company's operating loss widened to $5.1 million in 2026Q1, demonstrating that administrative and research overheads are scaling without the benefit of revenue, thereby intensifying the pressure on the firm's already constrained capital position and future financing requirements.
The absence of revenue means that every dollar spent on SG&A and R&D flows directly into operating losses, preventing any meaningful operating leverage. This structure implies that the company is currently in a pure capital-consumption phase, where operational efficiency is secondary to the necessity of funding clinical development.
According to historical income statement data, stock-based compensation has remained a consistent feature of the expense profile, reaching $694,000 in 2026Q1, which serves to dilute existing shareholders while providing a non-cash mechanism to manage executive and employee retention during this high-risk clinical development phase.
While stock-based compensation is a non-cash expense, its persistence suggests a reliance on equity-based incentives to preserve cash. Analysts should interpret this as a potential headwind for future EPS growth, as the resulting share count expansion may significantly dilute the value of any future clinical successes.
As reported in recent SEC filings, the company's cash position of approximately $4.9 million against a quarterly operating loss of $5.1 million suggests a precarious financial runway that warrants significant concern regarding the firm's ability to continue as a going concern without immediate and dilutive capital raises.
The current burn rate appears to be on a collision course with the company's liquidity, suggesting that the market may be underestimating the probability of a highly dilutive financing event. Investors should consider whether the intellectual property portfolio can realistically support the valuation required to raise capital on favorable terms.
Quick answers to the most common questions about buying FBLG stock.
For fiscal year 2025, FibroBiologics, Inc. Common Stock (FBLG) reported total revenue of $0.0M.
FibroBiologics, Inc. Common Stock (FBLG) reported a net loss of $18.6M for the fiscal year ending 2025.