NASDAQ : BNR
Burning Rock Biotech Limited — Financial statements
Healthcare · Diagnostics & Research · China
Last price 10.9 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 114.96M
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Financial statements
Burning Rock Biotech Limited (BNR) reported revenue of 500.64M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 500.64M | 539.57M | 515.82M | 537.43M | 563.24M | 507.86M |
| Cost of Revenue | 127.41M | 136.65M | 153.42M | 174.21M | 183.20M | 143.72M |
| Gross Profit | 373.23M | 402.91M | 362.40M | 363.23M | 380.04M | 364.15M |
| Selling, General & Admin | 303.12M | 291.26M | 452.54M | 685.53M | 938.58M | 793.35M |
| Research & Development | 135.12M | 166.49M | 232.29M | 347.02M | 421.87M | 367.86M |
| Operating Expenses | 438.25M | 457.76M | 684.83M | 1.03B | 1.36B | 1.16B |
| Operating Income | -65.02M | -54.84M | -322.43M | -669.32M | -980.41M | -797.06M |
| Interest Expense | -60.00K | -30.00K | -1.54M | |||
| Interest & Investment Income | 5.88M | 8.05M | 12.21M | 17.96M | 9.36M | 3.46M |
| Currency Exchange Gain (Loss) | -7.32M | -6.71M | -100.00K | -420.00K | 1.55M | -854.00K |
| Other Non Operating Income (Expenses) | 103.00K | -257.00K | 4.71M | 484.00K | 254.00K | 199.00K |
| EBT Excluding Unusual Items | -66.42M | -53.79M | -305.61M | -651.30M | -969.25M | -795.80M |
| Asset Writedown | -35.13M | |||||
| Pretax Income | -66.42M | -53.79M | -340.74M | -651.30M | -969.25M | -795.80M |
| Income Tax Expense | 1.61M | 1.56M | 5.88M | 2.39M | 1.99M | 899.00K |
| Net Income | -68.03M | -55.35M | -346.63M | -653.69M | -971.23M | -796.70M |
| Net Income to Common | -68.03M | -55.35M | -346.63M | -653.69M | -971.23M | -796.70M |
| Shares Outstanding (Basic) | 10.59M | 10.63M | 10.29M | 10.24M | 10.39M | 10.42M |
| Shares Outstanding (Diluted) | 10.59M | 10.63M | 10.29M | 10.24M | 10.39M | 10.42M |
| EPS (Basic) | -6.42 | -5.21 | -33.67 | -63.84 | -93.47 | -76.45 |
| EPS (Diluted) | -6.42 | -5.21 | -33.67 | -63.84 | -93.47 | -76.45 |
| Free Cash Flow | -17.47M | -33.69M | -97.68M | -263.89M | -527.10M | -688.80M |
| Free Cash Flow Per Share | -1.65 | -3.17 | -9.49 | -25.77 | -50.73 | -66.10 |
| Gross Margin | 74.55% | 74.67% | 70.26% | 67.58% | 67.47% | 71.70% |
| Operating Margin | -12.99% | -10.17% | -62.51% | -124.54% | -174.07% | -156.94% |
| Profit Margin | -13.59% | -10.26% | -67.20% | -121.63% | -172.44% | -156.87% |
| Free Cash Flow Margin | -3.49% | -6.24% | -18.94% | -49.10% | -93.58% | -135.63% |
| EBITDA | -58.27M | -33.22M | -271.05M | -537.87M | -859.66M | -752.46M |
| EBITDA Margin | -11.64% | -6.16% | -52.55% | -100.08% | -152.63% | -148.16% |
| D&A For EBITDA | 6.74M | 21.62M | 51.39M | 131.45M | 120.75M | 44.60M |
| EBIT | -65.02M | -54.84M | -322.43M | -669.32M | -980.41M | -797.06M |
| EBIT Margin | -12.99% | -10.17% | -62.51% | -124.54% | -174.07% | -156.94% |
| Revenue as Reported | 539.57M | 539.57M | 515.82M | 537.43M | 563.24M | 507.86M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 416.82M | 478.39M | 519.85M | 615.10M | 905.45M | 1.43B |
| Short-Term Investments | 2.40M | 6.14M | 13.40M | 2.09M | 65.63M | |
| Cash & Short-Term Investments | 416.82M | 480.79M | 525.99M | 628.50M | 907.54M | 1.50B |
| Accounts Receivable | 182.54M | 181.91M | 165.87M | 149.61M | 151.71M | 134.59M |
| Other Receivables | 70.00K | 177.00K | 1.18M | 103.00K | 111.00K | |
| Receivables | 182.54M | 181.98M | 166.04M | 150.78M | 151.81M | 138.20M |
| Inventory | 34.13M | 56.98M | 62.62M | 69.02M | 130.32M | 123.21M |
| Restricted Cash | 2.29M | 2.70M | 2.31M | 120.00K | 19.82M | 7.79M |
| Other Current Assets | 28.23M | 16.14M | 19.65M | 35.67M | 49.27M | 54.79M |
| Total Current Assets | 664.02M | 738.59M | 776.62M | 884.10M | 1.26B | 1.82B |
| Property, Plant & Equipment | 78.09M | 73.87M | 100.34M | 144.20M | 300.03M | 406.44M |
| Long-Term Investments | 337.00K | 690.00K | 910.00K | |||
| Other Intangible Assets | 233.00K | 284.00K | 421.00K | 964.00K | 1.99M | 5.15M |
| Other Long-Term Assets | 8.27M | 7.63M | 7.93M | 5.09M | 20.89M | 45.14M |
| Total Assets | 750.61M | 820.38M | 885.30M | 1.04B | 1.59B | 2.28B |
| Accounts Payable | 17.95M | 40.74M | 33.75M | 18.06M | 50.95M | 63.08M |
| Accrued Expenses | 68.46M | 51.99M | 56.71M | 65.37M | 104.23M | 107.03M |
| Short-Term Debt | 2.37M | |||||
| Current Portion of Long-Term Debt | 200.00K | 200.00K | ||||
| Current Portion of Leases | 21.17M | 16.76M | 24.57M | 8.63M | 37.24M | 35.00M |
| Current Income Taxes Payable | 16.38M | 14.46M | 20.62M | 11.03M | 7.69M | |
| Current Unearned Revenue | 109.17M | 107.82M | 117.89M | 130.54M | 147.63M | 142.87M |
| Other Current Liabilities | 592.00K | 13.09M | 18.92M | 20.14M | 60.38M | 14.14M |
| Total Current Liabilities | 217.54M | 246.98M | 266.30M | 263.36M | 411.45M | 372.18M |
| Long-Term Debt | 1.60M | 1.70M | ||||
| Long-Term Leases | 22.14M | 24.46M | 27.75M | 3.69M | 13.55M | 49.32M |
| Other Long-Term Liabilities | 12.25M | 11.97M | 10.43M | 4.54M | 4.12M | 11.78M |
| Total Liabilities | 253.53M | 285.11M | 304.48M | 271.59M | 429.13M | 433.28M |
| Common Stock | 147.00K | 141.00K | 145.00K | 137.00K | 138.00K | 137.00K |
| Additional Paid-In Capital | 5.01B | 5.01B | 5.00B | 4.85B | 4.58B | 4.28B |
| Retained Earnings | -4.29B | -4.26B | -4.20B | -3.85B | -3.20B | -2.23B |
| Treasury Stock | -57.19M | -57.19M | -63.26M | -65.90M | -58.92M | |
| Comprehensive Income & Other | -168.25M | -162.14M | -158.05M | -161.53M | -165.72M | -207.07M |
| Total Common Equity | 497.08M | 535.26M | 580.83M | 768.41M | 1.16B | 1.85B |
| Shareholders' Equity | 497.08M | 535.26M | 580.83M | 768.41M | 1.16B | 1.85B |
| Total Liabilities & Equity | 750.61M | 820.38M | 885.30M | 1.04B | 1.59B | 2.28B |
| Total Debt | 45.11M | 43.12M | 52.32M | 12.32M | 50.79M | 86.69M |
| Net Cash (Debt) | 371.71M | 437.67M | 473.66M | 616.18M | 856.76M | 1.41B |
| Net Cash Per Share | 35.09 | 41.17 | 46.02 | 60.18 | 82.45 | 135.33 |
| Filing Date Shares Outstanding | 10.86M | 10.55M | 10.77M | 10.26M | 10.27M | 10.52M |
| Total Common Shares Outstanding | 10.86M | 10.52M | 10.76M | 10.24M | 10.26M | 10.51M |
| Working Capital | 446.48M | 491.61M | 510.32M | 620.73M | 847.31M | 1.45B |
| Book Value Per Share | 45.77 | 50.89 | 53.97 | 75.01 | 112.85 | 175.56 |
| Tangible Book Value | 496.85M | 534.98M | 580.41M | 767.45M | 1.16B | 1.84B |
| Tangible Book Value Per Share | 45.75 | 50.86 | 53.93 | 74.92 | 112.66 | 175.07 |
| Machinery | 301.41M | 307.49M | 348.07M | 339.09M | 297.89M | |
| Construction In Progress | 634.00K | 634.00K | 548.00K | 2.66M | 27.55M | |
| Leasehold Improvements | 187.03M | 187.22M | 187.39M | 187.38M | 161.04M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -55.35M | -55.35M | -346.63M | -653.69M | -971.23M | -796.70M |
| Depreciation & Amortization | 21.62M | 21.62M | 51.39M | 131.45M | 120.75M | 44.60M |
| Other Amortization | 137.00K | 137.00K | 813.00K | 1.95M | 3.35M | 3.16M |
| Loss (Gain) From Sale of Assets | -204.00K | -204.00K | 2.20M | 1.01M | 1.42M | 178.00K |
| Asset Writedown & Restructuring Costs | 35.13M | |||||
| Loss (Gain) From Sale of Investments | 247.00K | |||||
| Loss (Gain) on Equity Investments | 93.00K | 361.00K | 294.00K | 483.00K | ||
| Stock-Based Compensation | 13.88M | 13.88M | 155.62M | 260.72M | 326.78M | 282.43M |
| Provision & Write-off of Bad Debts | 17.18M | 17.18M | 10.54M | 18.50M | 24.92M | 12.12M |
| Other Operating Activities | 49.90M | 33.68M | 34.87M | 36.07M | 48.07M | 38.23M |
| Change in Accounts Receivable | -33.23M | -33.23M | -26.80M | -16.40M | -42.16M | -49.77M |
| Change in Inventory | 2.50M | 2.50M | 2.51M | 57.28M | -21.65M | -67.00M |
| Change in Accounts Payable | 7.18M | 7.18M | 18.89M | -31.12M | 16.63M | -5.10M |
| Change in Unearned Revenue | -10.30M | -10.30M | -13.50M | -16.67M | 5.42M | 68.21M |
| Change in Other Net Operating Assets | -25.53M | -25.53M | -17.63M | -45.24M | 30.60M | -8.73M |
| Operating Cash Flow | -12.22M | -28.44M | -92.26M | -255.78M | -456.81M | -477.89M |
| Capital Expenditures | -5.25M | -5.25M | -5.42M | -8.10M | -70.29M | -210.92M |
| Sale of Property, Plant & Equipment | 858.00K | 858.00K | 1.56M | 84.00K | 2.41M | 565.00K |
| Sale (Purchase) of Intangibles | -558.00K | -1.28M | -185.00K | -2.53M | ||
| Investment in Securities | 65.60M | 294.58M | ||||
| Investing Cash Flow | -5.91M | -4.39M | -4.41M | -9.30M | -7.46M | 81.70M |
| Long-Term Debt Issued | 2.00M | |||||
| Total Debt Issued | 2.00M | 2.00M | ||||
| Short-Term Debt Repaid | -2.37M | -5.00M | ||||
| Long-Term Debt Repaid | -100.00K | -39.81M | ||||
| Total Debt Repaid | -100.00K | -100.00K | -2.37M | -44.81M | ||
| Net Debt Issued (Repaid) | 1.90M | 1.90M | -2.37M | -44.81M | ||
| Repurchase of Common Stock | -72.00K | -6.98M | -71.83M | -4.27M | ||
| Other Financing Activities | -2.10M | -41.85M | -12.04M | -3.82M | ||
| Financing Cash Flow | -200.00K | 1.90M | -72.00K | -48.83M | -86.24M | -52.90M |
| Foreign Exchange Rate Adjustments | -17.58M | -10.14M | 3.69M | 3.86M | 36.67M | -37.01M |
| Net Cash Flow | -35.92M | -41.07M | -93.05M | -310.05M | -513.84M | -486.09M |
| Free Cash Flow | -17.47M | -33.69M | -97.68M | -263.89M | -527.10M | -688.80M |
| Free Cash Flow Margin | -3.49% | -6.24% | -18.94% | -49.10% | -93.58% | -135.63% |
| Free Cash Flow Per Share | -1.65 | -3.17 | -9.49 | -25.77 | -50.73 | -66.10 |
| Levered Free Cash Flow | 12.98M | -22.79M | -7.71M | -57.45M | -220.17M | -305.25M |
| Unlevered Free Cash Flow | 13.02M | -22.77M | -7.71M | -57.45M | -220.17M | -304.30M |
| Cash Interest Paid | 30.00K | 30.00K | 877.00K | 1.52M | ||
| Cash Income Tax Paid | 98.00K | 1.10M | ||||
| Change in Working Capital | -59.39M | -59.39M | -36.53M | -52.16M | -11.16M | -62.40M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 109.68M | 216.95M | 69.25M | 98.06M | 236.67M | 996.35M |
| Enterprise Value | 54.96M | 156.43M | 12.64M | 13.47M | 103.38M | 754.86M |
| Last Close Price | 10.90 | 20.15 | 6.75 | 9.30 | 22.50 | 95.30 |
| PS Ratio | 1.56 | 2.81 | 0.98 | 1.29 | 2.90 | 12.46 |
| PB Ratio | 1.62 | 2.83 | 0.87 | 0.91 | 1.41 | 3.43 |
| P/TBV Ratio | 1.57 | 2.84 | 0.87 | 0.91 | 1.41 | 3.44 |
| EV/Sales Ratio | 0.82 | 2.03 | 0.18 | 0.18 | 1.27 | 9.44 |
| Debt / Equity Ratio | 0.09 | 0.08 | 0.09 | 0.02 | 0.04 | 0.05 |
| Net Debt / Equity Ratio | -0.75 | -0.82 | -0.81 | -0.80 | -0.74 | -0.76 |
| Net Debt / EBITDA Ratio | 6.38 | 13.18 | 1.75 | 1.15 | 1.00 | 1.87 |
| Net Debt / FCF Ratio | 21.27 | 12.99 | 4.85 | 2.33 | 1.62 | 2.05 |
| Asset Turnover | 0.64 | 0.63 | 0.54 | 0.41 | 0.29 | 0.21 |
| Inventory Turnover | 2.77 | 2.29 | 2.33 | 1.75 | 1.45 | 1.50 |
| Quick Ratio | 2.75 | 2.68 | 2.60 | 2.96 | 2.58 | 4.38 |
| Current Ratio | 3.05 | 2.99 | 2.92 | 3.36 | 3.06 | 4.89 |
| Return on Equity (ROE) | -12.82% | -9.92% | -51.38% | -67.85% | -64.67% | -37.35% |
| Return on Assets (ROA) | -5.16% | -4.02% | -20.93% | -31.84% | -31.70% | -20.16% |
| Return on Capital Employed (ROCE) | -12.20% | -9.60% | -52.10% | -86.20% | -83.40% | -41.80% |
| Earnings Yield | -9.09% | -3.65% | -68.58% | -94.01% | -59.50% | -12.59% |
| FCF Yield | -2.29% | -2.22% | -19.33% | -37.95% | -32.29% | -10.88% |
| Buyback Yield / Dilution | -0.43% | -3.27% | -0.53% | 1.46% | 0.29% | -51.83% |