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Black Diamond Therapeutics (BDTX) earnings and revenue breakdown

Latest: Q1 2025 · 10-Q filed May 12, 2025 · Black Diamond Therapeutics (BDTX) Q1 2025 earnings results →

Q1 2025 81¢ of every $1 of revenue kept as net profit · operating margin 77.9%

Black Diamond Therapeutics made $70.0M in Q1 2025. Operating margin 77.9%, net earnings $56.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed May 12, 2025.

Revenue$70.0M
Year over year—
Operating margin77.9%
Net earnings$56.5M
Operating cash flow$53.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $70.0M in Q1 2025.

Operating profit was $54.5M, a 77.9% margin. Net earnings were $56.5M. The effective tax rate was 0.4%.

Operating cash flow was $53.4M, 94% of net earnings. Non-cash charges added back $87K of depreciation and $1.7M of share-based compensation. Working capital and other items used $4.9M.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 202510-QMay 12, 2025$70.0M—77.9%$56.5M$53.4M

Charts

Black Diamond Therapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Black Diamond Therapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$32.8MOther investing$22.1MCash drawn (+) / kept (−)$10.8MOther financing−$30KAsset & business sales$4K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Black Diamond Therapeutics: profit against cash, quarter by quarterBlack Diamond Therapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow−$15.6M−$11.3MQ3 2024−$16.0M−$15.1MQ4 2024$56.5M$53.4MQ1 2025−$10.6M−$9.2MQ2 2025−$8.5M−$7.8MQ3 2025−$15.1M−$6.8MQ4 2025−$9.0M−$10.2MQ1 2026−$9.9M−$8.0MQ2 2026
Latest (Q2 2026): Net income −$9.9M, Operating cash flow −$8.0M.
Black Diamond Therapeutics: diluted shares by fiscal yearBlack Diamond Therapeutics: diluted shares by fiscal year33MFY202036MFY202136MFY202244MFY202355MFY202458MFY2025
+74.9% since FY2020: more shares outstanding (issuance, stock pay).

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Black Diamond Therapeutics

We are a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer. The foundation of our company is built upon a deep understanding of cancer genetics, onco-protein structure and function, and medicinal chemistry. Our MasterKey therapies are designed to address a broad spectrum of genetically defined tumors, overcome resistance, minimize wild-type mediated toxicities, and be brain-penetrant to treat central nervous system (CNS) disease. Our compounds target families of oncogenic mutations in clinically validated pathways.

In its own words, from its 10-K, filed Mar 16, 2026.

Black Diamond Therapeutics against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Operating margin: 77.9% against the peers' median 40.8%.

CompanyQuarterRevenueY/YOp. margin
BDTX Black Diamond TherapeuticsQ1 2025$70.0M—77.9%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Black Diamond Therapeutics 10-Q on SEC EDGAR · CIK 1701541 · Biological Products, (No Diagnostic Substances)

13F: who owns BDTX and who is buying

Largest holders of BDTX (13F)Largest holders of BDTX (13F)NEA Management Company, LLC$8.2MT. Rowe Price Investment Manageme…$7.5MBlackRock$7.2MVanguard Group$5.3MAcadian Asset Management LLC$4.3MVanguard Capital Management LLC$3.9MRenaissance Technologies LLC$3.6MDefilade Capital Management, L.P.$3.1MDimensional Fund Advisors LP$2.5MGeode Capital Management, LLC$2.3M
Funds' net buying of BDTX by quarter (13F)Funds' net buying of BDTX by quarter (13F)−$194K2024-09$2.3M2024-12−$11.7M2025-03−$5.0M2025-06−$54K2025-09$3.1M2025-12−$4.0M2026-03−$6.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BDTX

History

Every quarter: Q1 2025 results

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