NASDAQ : BCYC
Bicycle Therapeutics plc — Financial statements
Healthcare · Biotechnology · United Kingdom
Last price 3.82 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 267.37M
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Financial statements
Bicycle Therapeutics plc (BCYC) reported revenue of 83.53M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 83.53M | 72.59M | 35.27M | 26.98M | 14.46M | 11.70M |
| Cost of Revenue | 229.08M | 229.08M | 164.86M | 147.65M | 81.61M | 44.88M |
| Gross Profit | -145.56M | -156.50M | -129.59M | -120.67M | -67.15M | -33.18M |
| Selling, General & Admin | 73.50M | 86.37M | 79.19M | 69.27M | 49.51M | 32.44M |
| Operating Expenses | 8.47M | 86.37M | 79.19M | 69.27M | 49.51M | 32.44M |
| Operating Income | -154.03M | -242.87M | -208.77M | -189.95M | -116.65M | -65.62M |
| Interest Expense | -194.00K | -206.00K | -1.73M | -3.26M | -3.34M | -2.98M |
| Interest & Investment Income | 19.33M | 28.46M | 34.28M | 14.00M | 5.76M | 120.00K |
| EBT Excluding Unusual Items | -134.89M | -214.61M | -176.22M | -179.21M | -114.24M | -68.48M |
| Other Unusual Items | -4.20M | -4.20M | 2.42M | |||
| Pretax Income | -139.09M | -218.81M | -173.80M | -179.21M | -114.24M | -68.48M |
| Income Tax Expense | 2.70M | 152.00K | -4.76M | 1.46M | -1.52M | -1.66M |
| Net Income | -141.79M | -218.96M | -169.03M | -180.66M | -112.72M | -66.82M |
| Net Income to Common | -141.79M | -218.96M | -169.03M | -180.66M | -112.72M | -66.82M |
| Shares Outstanding (Basic) | 69.71M | 69.28M | 58.21M | 35.59M | 29.66M | 25.06M |
| Shares Outstanding (Diluted) | 69.71M | 69.28M | 58.21M | 35.59M | 29.66M | 25.06M |
| EPS (Basic) | -2.03 | -3.16 | -2.90 | -5.08 | -3.80 | -2.67 |
| EPS (Diluted) | -2.03 | -3.16 | -2.90 | -5.08 | -3.80 | -2.67 |
| Free Cash Flow | -177.04M | -252.03M | -165.96M | -63.56M | -105.10M | -16.82M |
| Free Cash Flow Per Share | -2.54 | -3.64 | -2.85 | -1.79 | -3.54 | -0.67 |
| Gross Margin | -174.26% | -215.60% | -283.69% | |||
| Operating Margin | -184.40% | -334.59% | -591.84% | -704.13% | -806.56% | -560.98% |
| Profit Margin | -169.75% | -301.66% | -479.18% | -669.72% | -779.35% | -571.25% |
| Free Cash Flow Margin | -211.95% | -347.21% | -470.47% | -235.61% | -726.67% | -143.83% |
| EBITDA | -149.42M | -236.44M | -201.60M | -183.40M | -112.96M | -64.21M |
| EBITDA Margin | -178.89% | |||||
| D&A For EBITDA | 4.61M | 6.42M | 7.17M | 6.55M | 3.69M | 1.41M |
| EBIT | -154.03M | -242.87M | -208.77M | -189.95M | -116.65M | -65.62M |
| EBIT Margin | -184.40% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 469.93M | 628.11M | 879.52M | 526.42M | 339.15M | 438.68M |
| Cash & Short-Term Investments | 469.93M | 628.11M | 879.52M | 526.42M | 339.15M | 438.68M |
| Accounts Receivable | 2.04M | 1.00M | ||||
| Other Receivables | 52.36M | 35.59M | 35.65M | 24.04M | 19.16M | 10.91M |
| Receivables | 52.36M | 35.59M | 35.65M | 24.04M | 21.21M | 11.91M |
| Prepaid Expenses | 15.27M | 19.18M | 13.43M | 11.41M | 9.02M | 7.96M |
| Total Current Assets | 537.56M | 682.88M | 928.61M | 561.87M | 369.38M | 458.56M |
| Property, Plant & Equipment | 17.65M | 21.91M | 17.19M | 27.68M | 32.77M | 17.79M |
| Other Long-Term Assets | 11.98M | 12.80M | 11.07M | 5.79M | 8.46M | 3.45M |
| Total Assets | 567.18M | 717.60M | 956.87M | 595.34M | 410.61M | 479.79M |
| Accounts Payable | 9.59M | 9.67M | 15.79M | 13.05M | 6.47M | 2.72M |
| Accrued Expenses | 34.87M | 41.46M | 35.45M | 26.38M | 21.86M | 11.29M |
| Current Portion of Leases | 2.76M | 5.50M | 4.88M | 3.12M | 2.38M | |
| Current Unearned Revenue | 2.96M | 10.19M | 24.98M | 20.42M | 19.27M | |
| Other Current Liabilities | 136.00K | 297.00K | 257.00K | 1.47M | 570.00K | |
| Total Current Liabilities | 44.46M | 56.98M | 67.23M | 69.54M | 53.34M | 36.24M |
| Long-Term Debt | 30.70M | 30.32M | 29.87M | |||
| Long-Term Leases | 12.86M | 14.10M | 3.99M | 9.38M | 10.88M | 12.08M |
| Long-Term Unearned Revenue | 3.69M | 35.51M | 91.47M | 110.22M | 41.45M | 52.07M |
| Other Long-Term Liabilities | 887.00K | 1.03M | 1.12M | 4.58M | 3.83M | 3.28M |
| Total Liabilities | 61.90M | 107.62M | 163.81M | 224.41M | 139.83M | 133.54M |
| Common Stock | 903.00K | 894.00K | 890.00K | 550.00K | 387.00K | 384.00K |
| Additional Paid-In Capital | 1.53B | 1.51B | 1.47B | 883.45M | 601.11M | 567.64M |
| Retained Earnings | -1.02B | -899.75M | -680.79M | -511.76M | -331.10M | -218.38M |
| Comprehensive Income & Other | -5.34M | -3.50M | 119.00K | -1.30M | 387.00K | -3.39M |
| Total Common Equity | 505.28M | 609.98M | 793.06M | 370.93M | 270.78M | 346.25M |
| Shareholders' Equity | 505.28M | 609.98M | 793.06M | 370.93M | 270.78M | 346.25M |
| Total Liabilities & Equity | 567.18M | 717.60M | 956.87M | 595.34M | 410.61M | 479.79M |
| Total Debt | 12.86M | 16.85M | 9.49M | 44.96M | 44.33M | 44.34M |
| Net Cash (Debt) | 457.06M | 611.26M | 870.03M | 481.47M | 294.83M | 394.34M |
| Net Cash Per Share | 6.56 | 8.82 | 14.95 | 13.53 | 9.94 | 15.73 |
| Filing Date Shares Outstanding | 70.09M | 69.71M | 69.20M | 42.59M | 30.02M | 29.60M |
| Total Common Shares Outstanding | 70.09M | 69.37M | 69.06M | 42.43M | 29.87M | 29.58M |
| Working Capital | 493.10M | 625.90M | 861.38M | 492.33M | 316.04M | 422.32M |
| Book Value Per Share | 7.21 | 8.79 | 11.48 | 8.74 | 9.06 | 11.71 |
| Tangible Book Value | 505.28M | 609.98M | 793.06M | 370.93M | 270.78M | 346.25M |
| Tangible Book Value Per Share | 7.21 | 8.79 | 11.48 | 8.74 | 9.06 | 11.71 |
| Machinery | 19.06M | 16.53M | 16.91M | 16.24M | 7.11M | |
| Leasehold Improvements | 12.03M | 10.90M | 11.00M | 10.74M | 809.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -141.79M | -218.96M | -169.03M | -180.66M | -112.72M | -66.82M |
| Depreciation & Amortization | 4.61M | 6.42M | 7.17M | 6.55M | 3.69M | 1.41M |
| Stock-Based Compensation | 30.41M | 39.46M | 38.08M | 32.48M | 26.78M | 12.08M |
| Other Operating Activities | 1.64M | -850.00K | -7.50M | 4.35M | -4.53M | -1.20M |
| Change in Accounts Receivable | 2.48M | -1.64M | 4.54M | |||
| Change in Accounts Payable | -3.10M | -6.87M | 3.10M | 8.00M | 2.56M | 1.20M |
| Change in Unearned Revenue | -82.06M | -69.19M | -31.95M | 68.95M | -2.13M | 37.12M |
| Change in Other Net Operating Assets | 15.12M | 310.00K | -4.59M | -2.77M | 1.89M | -3.12M |
| Operating Cash Flow | -175.18M | -249.68M | -164.72M | -60.63M | -86.11M | -14.79M |
| Capital Expenditures | -1.86M | -2.35M | -1.24M | -2.93M | -18.99M | -2.03M |
| Investing Cash Flow | -1.86M | -2.35M | -1.24M | -2.93M | -18.99M | -2.03M |
| Long-Term Debt Issued | 15.00M | |||||
| Long-Term Debt Repaid | -168.00K | -31.91M | ||||
| Net Debt Issued (Repaid) | -199.00K | -168.00K | -31.91M | 15.00M | ||
| Issuance of Common Stock | 49.00K | 37.00K | 551.65M | 250.03M | 6.69M | 305.73M |
| Financing Cash Flow | -150.00K | -131.00K | 519.75M | 250.03M | 6.69M | 320.73M |
| Foreign Exchange Rate Adjustments | -1.70M | 804.00K | -694.00K | 1.35M | -1.12M | -1.21M |
| Net Cash Flow | -178.89M | -251.35M | 353.10M | 187.82M | -99.53M | 302.69M |
| Free Cash Flow | -177.04M | -252.03M | -165.96M | -63.56M | -105.10M | -16.82M |
| Free Cash Flow Margin | -211.95% | -347.21% | -470.47% | -235.61% | -726.67% | -143.83% |
| Free Cash Flow Per Share | -2.54 | -3.64 | -2.85 | -1.79 | -3.54 | -0.67 |
| Levered Free Cash Flow | -51.37M | -121.57M | -104.12M | -75.43M | -57.51M | -19.99M |
| Unlevered Free Cash Flow | -51.25M | -121.44M | -103.04M | -73.39M | -55.42M | -18.12M |
| Cash Interest Paid | 78.00K | 78.00K | 1.40M | 2.75M | 2.79M | 2.52M |
| Cash Income Tax Paid | -717.00K | 792.00K | 562.00K | 2.23M | 73.00K | |
| Change in Working Capital | -70.03M | -75.75M | -33.45M | 76.66M | 672.00K | 39.73M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 256.54M | 491.12M | 966.64M | 766.98M | 878.81M | 1.79B |
| Enterprise Value | -200.52M | -151.46M | 86.87M | 240.58M | 561.38M | 1.56B |
| Last Close Price | 3.66 | 7.08 | 14.00 | 18.08 | 29.60 | 60.87 |
| PS Ratio | 3.07 | 6.77 | 27.40 | 28.43 | 60.76 | 152.99 |
| PB Ratio | 0.51 | 0.81 | 1.22 | 2.07 | 3.25 | 5.17 |
| P/TBV Ratio | 0.51 | 0.81 | 1.22 | 2.07 | 3.25 | 5.17 |
| EV/Sales Ratio | 2.46 | 8.92 | 38.81 | 133.63 | ||
| Debt / Equity Ratio | 0.03 | 0.03 | 0.01 | 0.12 | 0.16 | 0.13 |
| Net Debt / Equity Ratio | -0.91 | -1.00 | -1.10 | -1.30 | -1.09 | -1.14 |
| Net Debt / EBITDA Ratio | 3.06 | 2.58 | 4.32 | 2.62 | 2.61 | 6.14 |
| Net Debt / FCF Ratio | 2.58 | 2.42 | 5.24 | 7.58 | 2.81 | 23.44 |
| Asset Turnover | 0.12 | 0.09 | 0.04 | 0.05 | 0.03 | 0.04 |
| Quick Ratio | 11.75 | 11.65 | 13.61 | 7.92 | 6.76 | 12.43 |
| Current Ratio | 12.09 | 11.98 | 13.81 | 8.08 | 6.92 | 12.65 |
| Return on Equity (ROE) | -25.24% | -31.21% | -29.04% | -56.31% | -36.54% | -30.25% |
| Return on Assets (ROA) | -14.46% | -18.13% | -16.81% | -23.60% | -16.38% | -12.80% |
| Return on Capital Employed (ROCE) | -29.50% | -36.80% | -23.50% | -36.10% | -32.70% | -14.80% |
| Earnings Yield | -55.57% | -44.58% | -17.49% | -23.55% | -12.83% | -3.73% |
| FCF Yield | -69.01% | -51.32% | -17.17% | -8.29% | -11.96% | -0.94% |
| Buyback Yield / Dilution | -0.70% | -19.02% | -63.54% | -20.00% | -18.35% | -30.90% |