Filing Flows › Bicycle Therapeutics (BCYC) › Q3 2026
Bicycle Therapeutics (BCYC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Bicycle Therapeutics (BCYC) reported revenue of $34.1M for the third quarter 2026 (Q3 2026), +190% from a year earlier and up 54-fold from the quarter before. Operating margin was -39.6%, net loss $10.5M (30.8% of revenue).
Bicycle Therapeutics, Q3 2026: revenue $34.1M (+190% year over year), operating margin -39.6%, net loss $10.5M, operating cash flow −$40.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.1M | 54× | +190% |
| Operating profit | −$13.5M | — | — |
| Net earnings | −$10.5M | — | — |
| Operating cash flow | −$40.3M | — | — |
What changed
Revenue was $34.1M in Q3 2026, up 190% year over year and up 5314% from the previous quarter.
Operating costs exceeded revenue by $13.5M, an operating margin of -39.6%. Total costs fell 38% while revenue rose 190%. The quarter ended with a net loss of $10.5M, narrower than the previous quarter's $50.3M loss. Non-operating items added $4.2M, -45% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$40.3M. Non-cash charges added back $1.1M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $36.3M. Capital expenditures of $305K exceeded it, leaving free cash flow of −$40.6M.
Questions
What was Bicycle Therapeutics' revenue in the third quarter 2026?
Bicycle Therapeutics (BCYC) reported revenue of $34.1M for the third quarter 2026 (Q3 2026), +190% from a year earlier and up 54-fold from the quarter before.
Was Bicycle Therapeutics profitable in the third quarter 2026?
Operating loss was $13.5M (-39.6% of revenue) and net loss $10.5M.