Filing Flows › BioXcel Therapeutics (BTAIQ) › Q3 2025
BioXcel Therapeutics (BTAIQ) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
BioXcel Therapeutics (BTAIQ) reported revenue of $98K for the third quarter 2025 (Q3 2025), -54% from a year earlier and -18% from the quarter before.
BioXcel Therapeutics, Q3 2025: revenue $98K (-54% year over year), net loss $30.9M, operating cash flow −$18.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $98K | -18% | -54% |
| Operating profit | −$14.2M | — | — |
| Net earnings | −$30.9M | — | — |
| Operating cash flow | −$18.8M | — | — |
What changed
Revenue was $98K in Q3 2025, down 54% year over year and down 18% from the previous quarter.
Operating costs exceeded revenue by $14.2M, an operating margin of -14518.4%. Total costs fell 8% while revenue fell 54%. The fastest-growing cost line was Research & development (+71%). The quarter ended with a net loss of $30.9M, wider than the previous quarter's $19.2M loss. Net interest and other expense of $16.7M was the main reason.
Operating cash flow was −$18.8M. Non-cash charges added back $75K of depreciation and $581K of share-based compensation. Working capital and other items added $11.5M.
Questions
What was BioXcel Therapeutics' revenue in the third quarter 2025?
BioXcel Therapeutics (BTAIQ) reported revenue of $98K for the third quarter 2025 (Q3 2025), -54% from a year earlier and -18% from the quarter before.