Filing Flows › BioXcel Therapeutics (BTAIQ) › Q4 2025
BioXcel Therapeutics (BTAIQ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 27, 2026
BioXcel Therapeutics (BTAIQ) reported revenue of $256K for the fourth quarter 2025 (Q4 2025), -30% from a year earlier and +161% from the quarter before.
BioXcel Therapeutics, Q4 2025: revenue $256K (-30% year over year), net loss $12.5M, operating cash flow −$14.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $256K | +161% | -30% |
| Operating profit | −$10.3M | — | — |
| Net earnings | −$12.5M | — | — |
| Operating cash flow | −$14.2M | — | — |
What changed
Revenue was $256K in Q4 2025, down 30% year over year and up 161% from the previous quarter.
Operating costs exceeded revenue by $10.3M, an operating margin of -4016.4%. Total costs fell 3% while revenue fell 30%. The fastest-growing cost line was Research & development (+14%). The quarter ended with a net loss of $12.5M, narrower than the previous quarter's $30.9M loss.
Operating cash flow was −$14.2M. Non-cash charges added back $74K of depreciation and $450K of share-based compensation. Working capital and other items used $2.2M.
Questions
What was BioXcel Therapeutics' revenue in the fourth quarter 2025?
BioXcel Therapeutics (BTAIQ) reported revenue of $256K for the fourth quarter 2025 (Q4 2025), -30% from a year earlier and +161% from the quarter before.