Burning Rock Biotech (BNR) financial statements

Healthcare · Diagnostics & Research · Market cap $166M

Burning Rock Biotech reported revenue of 540M CNY in fiscal 2025, up 14.5% a year over 7 years.

Net income was -55M CNY and the operating margin -10.2%, against -77.3% in 2018.

Free cash flow was -34M CNY.

The diluted share count rose 5% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-1-0.500.5120182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from Burning Rock Biotech's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Revenue209M CNY382M CNY430M CNY508M CNY563M CNY537M CNY516M CNY540M CNY
Cost of revenue74M CNY108M CNY116M CNY144M CNY183M CNY174M CNY153M CNY137M CNY
Gross profit135M CNY273M CNY314M CNY364M CNY380M CNY363M CNY362M CNY403M CNY
Research and development105M CNY157M CNY264M CNY368M CNY422M CNY347M CNY232M CNY166M CNY
Selling, general and admin191M CNY285M CNY462M CNY793M CNY939M CNY686M CNY453M CNY291M CNY
Operating income-161M CNY-169M CNY-412M CNY-797M CNY-980M CNY-669M CNY-358M CNY-55M CNY
Interest expense18M CNY9M CNY667,000 CNY2M CNY————
Pre-tax income-177M CNY-169M CNY-407M CNY-796M CNY-969M CNY-651M CNY-341M CNY-54M CNY
Income tax0 CNY0 CNY0 CNY899,000 CNY2M CNY2M CNY6M CNY2M CNY
Net income-177M CNY-169M CNY-407M CNY-797M CNY-971M CNY-654M CNY-347M CNY-55M CNY
EPS (diluted)-10.38 CNY-14.23 CNY0.00 CNY0.00 CNY————
Diluted shares22M23M0M0M————
Gross margin64.7%71.6%73.0%71.7%67.5%67.6%70.3%74.7%
Operating margin-77.3%-44.3%-95.9%-156.9%-174.1%-124.5%-69.3%-10.2%
Net margin-85.0%-44.3%-94.7%-156.9%-172.4%-121.6%-67.2%-10.3%

Balance sheet

Fiscal years, in CNY, from Burning Rock Biotech's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Cash and short-term investments93M CNY408M CNY2.3B CNY1.5B CNY905M CNY615M CNY520M CNY478M CNY
Receivables—89M CNY88M CNY92M CNY110M CNY127M CNY152M CNY170M CNY
Inventory—58M CNY68M CNY123M CNY130M CNY69M CNY54M CNY49M CNY
Total current assets—707M CNY2.5B CNY1.8B CNY1.3B CNY884M CNY777M CNY739M CNY
Property, plant and equipment—89M CNY111M CNY325M CNY252M CNY132M CNY47M CNY31M CNY
Total assets—848M CNY2.7B CNY2.3B CNY1.6B CNY1.0B CNY885M CNY820M CNY
Total current liabilities—164M CNY242M CNY372M CNY411M CNY263M CNY266M CNY247M CNY
Long-term debt—18M CNY0 CNY———0 CNY2M CNY
Total liabilities—212M CNY242M CNY433M CNY429M CNY272M CNY304M CNY285M CNY
Shareholders' equity-603M CNY-891M CNY2.4B CNY1.8B CNY1.2B CNY768M CNY581M CNY535M CNY
Net debt-93M CNY-76M CNY-1.9B CNY-1.4B CNY-905M CNY-615M CNY-520M CNY-477M CNY

Cash flow

Fiscal years, in CNY, from Burning Rock Biotech's 10-K filings with the SEC.

Fiscal year20182019202020212022202320242025
Operating cash flow-149M CNY-228M CNY-74M CNY-478M CNY-457M CNY-256M CNY-92M CNY-28M CNY
Capital spending23M CNY43M CNY60M CNY204M CNY62M CNY8M CNY5M CNY5M CNY
Free cash flow-172M CNY-271M CNY-134M CNY-682M CNY-519M CNY-264M CNY-98M CNY-34M CNY
Stock-based compensation5M CNY23M CNY173M CNY282M CNY327M CNY261M CNY156M CNY14M CNY
Share buybacks (net)0 CNY-4M CNY0 CNY0 CNY————
Net borrowing97M CNY-72M CNY-21M CNY-35M CNY0 CNY0 CNY0 CNY2M CNY
Free cash flow margin-82.3%-71.0%-31.1%-134.3%-92.1%-49.1%-18.9%-6.2%
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Questions

What was Burning Rock Biotech's revenue in 2025?

540M CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does Burning Rock Biotech generate?

-34M CNY in fiscal 2025 (operating cash flow minus capital spending).

From Burning Rock Biotech's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.