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BioXcel Therapeutics (BTAIQ) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · BioXcel Therapeutics (BTAIQ) Q2 2026 earnings results →
Q2 2026 Revenue up 52% year over year to $182K
BioXcel Therapeutics made $182K in Q2 2026 (+52% Y/Y). Operating margin n/m, net loss $14.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $182K in Q2 2026, up 52% year over year and down 12% from the previous quarter.
Operating costs exceeded revenue by $10.2M, an operating margin of -5600.5%. Total costs fell 35% while revenue rose 52%. The fastest-growing cost line was SG&A (+28%). The quarter ended with a net loss of $14.7M, wider than the previous quarter's $12.7M loss.
Operating cash flow was −$6.1M. Non-cash charges added back $18K of depreciation and $358K of share-based compensation. Working capital and other items added $8.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $182K | +52% | n/m | −$14.7M | −$6.1M |
| Q1 2026 | 10-Q | May 15, 2026 | $206K | +23% | n/m | −$12.7M | −$11.8M |
| Q4 2025 | 10-K | Mar 27, 2026 | $256K | -30% | n/m | −$12.5M | −$14.2M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $98K | -54% | n/m | −$30.9M | −$18.8M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $120K | -89% | n/m | −$19.2M | −$12.6M |
| Q1 2025 | 10-Q | May 12, 2025 | $168K | -71% | n/m | −$7.3M | −$12.0M |
| Q4 2024 | 10-K | Mar 28, 2025 | $366K | -3% | n/m | −$10.9M | −$14.8M |
Charts
Interactive views
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💵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 BioXcel Therapeutics
BioXcel Therapeutics, Inc. (Nasdaq: BTAI, “the Company”) is a biopharmaceutical company built on artificial intelligence (“AI”) to develop transformative medicines in neuroscience. Our wholly owned subsidiary, OnkosXcel Therapeutics, is focused on the development of medicines in immuno-oncology. We have utilized cutting-edge technology and innovative research to develop high-value therapeutics aimed at transforming patients’ lives. We developed a proprietary AI platform to reduce therapeutic development costs and potentially accelerate development timelines. Our approach leverages existing approved drugs and/or clinically evaluated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indications.
In its own words, from its 10-K, filed Mar 27, 2026.
BioXcel Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +52% against the peers' median +10%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BTAIQ BioXcel Therapeutics | Q2 2026 | $182K | +52% | n/m |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: BioXcel Therapeutics 10-Q on SEC EDGAR · CIK 1720893 · Pharmaceutical Preparations
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results