BNR PRESS-RELEASE SEC Filing Analysis

Final — all horizons settled through T+60d

BNR ▼ -59.69% at T+60d

LONG call ✗ call lost -59.69% · α vs SPY -70.39% · entry $22.85 → $9.21

Currently $8.59 · -62.41% from $22.85 entry

Entry anchored
Mar 11, 03:15 PM ET
via Databento tick

T+1d

-29.93%

call -29.93% · α -29.34%

$16.01

settled 3mo ago

T+5d

-21.01%

call -21.01% · α -20.03%

$18.05

settled 3mo ago

T+20d

-30.66%

call -30.66% · α -32.63%

$15.85

settled 2mo ago

T+60d

-59.69%

call -59.69% · α -70.39%

$9.21

settled 5d ago

Price Chart

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Executive Summary

Burning Rock Biotech reported stable Q4 2025 revenue of $18.1 million with a 10.2% increase in gross profit and a significant 35.5% decline in operating expenses, leading to a 81% reduction in net loss year-over-year. Full-year 2025 revenue grew 4.6% to $77.2 million, driven by a 34.5% increase in pharma R&D services, while gross margin expanded to 74.7% and operating expenses fell 36.4%.

Key Financial Metrics

Revenue

$18.1M

+0.2% YoY

EPS

$-0.15

Actionable Insight

The significant reduction in losses and operating expenses, combined with margin expansion and growth in high-margin pharma R&D, suggests Burning Rock is executing a successful turnaround. Traders should monitor sustainability of cost controls and whether revenue growth accelerates in 2026.

Key Facts

Q4 2025 revenue was $18.1 million (RMB126.3M), flat YoY, but gross profit rose 10.2% to $14.1 million with gross margin improving to 78.0% from 71.0%.
Operating expenses dropped 35.5% YoY to $15.8 million, driven by cost controls and reorganization, leading to net loss narrowing to $2.2 million from $81.3 million in Q4 2024.
Full-year 2025 revenue increased 4.6% to $77.2 million (RMB539.6M), with pharma R&D revenue surging 34.5% to $22.2 million.
Gross margin improved to 74.7% in 2025 from 70.3% in 2024, and operating expenses fell 36.4% to $65.5 million.
Net loss for 2025 was $7.9 million, down 84% from $346.6 million in 2024.
Cash balance stood at $68.8 million as of December 31, 2025.

Financial Impact

Operating expenses reduced by $262.2 million annually, net loss improved by $291.3 million year-over-year, and gross margin expanded 440 bps.

revenuegross_marginoperating_expensesnet_losscash_position

Risk Factors

Revenue remains flat in the near term, with central lab business declining 8.9% for the year.
Pharma R&D revenue is project-based and lumpy, creating potential volatility.
Company remains unprofitable on a GAAP basis despite progress.

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3254486

4 reports for BNR

T+1T+5T+20T+60

Filters

Reports for BNR — sortable, filterable
	Type				Now
Jun 9, 2026 4d ago	Press Release BEARISH ★ 6/10	$9.66 awaiting T+20	awaiting T+20	—	$8.59 (+11.03%)
Jun 9, 2026 4d ago	6-K BEARISH ★ 6/10	$9.66 awaiting T+20	awaiting T+20	—	$8.59 (+11.03%)
Apr 28, 2026 6w ago	Press Release NEUTRAL ★ 2/10	$16.65 $12.17	▼ −26.91%	▼ −32.36%	$8.59 (−48.41%)
Mar 12, 2026 13w ago	Press Release BULLISH ★ 7/10	$22.85 $15.85	▼ −30.66%	▼ −32.63%	$8.59 (−62.41%)

US Market Status

Market Closed — Opens Mon (48h 49m)

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