Beta Bionics (Nasdaq:BBNX) shares rose after hours today on fourth-quarter results that topped the consensus sales forecast.
Shares of BBNX ticked up nearly 2% to $15.50 apiece in poost-market trading today. This is the company’s first quarterly earnings report after it went public through a $234.6 million IPO in January.
The Irvine, California-based automated insulin delivery system maker reported losses of $18.1 million. That equals $2.72 per share on sales of $20.44 million for the three months ended Dec. 31, 2024.
Beta Bionics recorded a 3.9% bottom-line gain while increasing sales by nearly 145% year-over-year. Sales topped Wall Street expectations of $20.19 million, bolstered by the continued rollout of the iLet bionic pancreas.
Recent highlights for the company included the launch of the Color iLet system with a color screen and brighter display. The company also launched the first-to-market integration of iLet with the Abbott FreeStyle Libre 3 Plus in the U.S. during the fourth quarter. (Read more about how Beta Bionics got to this point as explained by founder Ed Damiano earlier this month.)
“2024 was a tremendous momentum-building year for Beta Bionics. We ended the year with over 15,000 users in our install base, released our first year of real-world evidence for the iLet, progressed in our efforts to secure pharmacy channel coverage and reimbursement for the iLet and associated monthly supplies, and advanced our patch and bihormonal pipeline programs including our entry into an exclusive collaboration and licensing agreement with Xeris Pharmaceuticals for glucagon,” said Sean Saint, Beta Bionics president and CEO. “As we enter 2025 as a newly public company, we look forward to building on our momentum as we continue to expand iLet’s reach and advance our exciting pipeline programs.”
For 2025, Beta Bionics expects total revenue to range between $80 million and $85 million.
