Filing Flows › Bicycle Therapeutics (BCYC) › Q1 2025
Bicycle Therapeutics (BCYC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Bicycle Therapeutics (BCYC) reported revenue of $10.0M for the first quarter 2025 (Q1 2025), -49% from a year earlier and +169% from the quarter before. Operating margin was -703.7%, net loss $60.8M (608.9% of revenue).
Bicycle Therapeutics, Q1 2025: revenue $10.0M (-49% year over year), operating margin -703.7%, net loss $60.8M, operating cash flow −$86.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.0M | +169% | -49% |
| Operating profit | −$70.2M | — | — |
| Net earnings | −$60.8M | — | — |
| Operating cash flow | −$86.4M | — | — |
What changed
Revenue was $10.0M in Q1 2025, down 49% year over year and up 169% from the previous quarter.
Operating costs exceeded revenue by $70.2M, an operating margin of -703.7%. Total costs grew 56% against a revenue fall of 49%. The fastest-growing cost line was Research & development (+69%). The quarter ended with a net loss of $60.8M, wider than the previous quarter's $51.9M loss.
Operating cash flow was −$86.4M. Non-cash charges added back $1.6M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items used $36.9M. Capital expenditures of $604K exceeded it, leaving free cash flow of −$87.0M.
Questions
What was Bicycle Therapeutics' revenue in the first quarter 2025?
Bicycle Therapeutics (BCYC) reported revenue of $10.0M for the first quarter 2025 (Q1 2025), -49% from a year earlier and +169% from the quarter before.
Was Bicycle Therapeutics profitable in the first quarter 2025?
Operating loss was $70.2M (-703.7% of revenue) and net loss $60.8M.