Beta Bionics, Inc.
betabionics.comWhat Do They Do?
Sells an automated insulin-delivery device and disposable supplies to people with insulin-requiring diabetes.
10-K for FY2025, filed Feb 24, 2026We are a commercial-stage medical device company engaged in the design, development, and commercialization of innovative solutions to…View ↗
The iLet was cleared by the FDA in May 2023 for the treatment of T1D in adults and children six years and older. Unlike hybrid closed-loop…View ↗
During the year ended December 31, 2025 and 2024, the Company’s revenues were predominantly generated from sales of the iLet. The iLet…View ↗
How Do They Make Money?
Distributors and pharmacies buy iLet devices and disposable supplies for resale to people with insulin-requiring diabetes; orders are billed to third-party payors, and product sales are tied to shipment, while app access and software updates earn revenue over the four-year warranty period.
10-K for FY2025, filed Feb 24, 2026Revenue is generated primarily from sales of the iLet and its associated single-use products, such as cartridges for insulin storage and…View ↗
The Company considers the individual deliverables in its contracts with customers as separate performance obligations. The iLet and…View ↗
During the year ended December 31, 2025 and 2024, the Company’s revenues were predominantly generated from sales of the iLet. The iLet…View ↗
The Company’s customers are distributors and pharmacies who sell these products to insulin-requiring PWD, through the durable medical…View ↗
In the United States, customer orders for the iLet are typically fulfilled by billing third-party payors on behalf of customers or through…View ↗
$100.3M
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10-K for FY2025, filed Feb 24, 2026
$100.3M ↗
Who Are Their Customers?
Distributors and pharmacies buy the products and resell them to people with insulin-requiring diabetes through durable medical equipment or pharmacy-benefit coverage. The company markets through its U.S. sales team and uses independent distributors for order processing and delivery when it lacks a health-plan contract.
10-K for FY2025, filed Feb 24, 2026The Company’s customers are distributors and pharmacies who sell these products to insulin-requiring PWD, through the durable medical…View ↗
We market and distribute the iLet in the United States through a direct commercial organization that includes sales, clinical, and customer…View ↗
In the United States, customer orders for the iLet are typically fulfilled by billing third-party payors on behalf of customers or through…View ↗
Do Revenues Turn Into Profits?
No. It lost $73.2M in FY2025.
10-K for FY2025, filed Feb 24, 2026
−$71.7MView ↗
10-K for FY2025, filed Feb 24, 2026
−$73.2MView ↗
10-K for FY2025, filed Feb 24, 2026
−$56.2MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q3 FY2026, filed Oct 27, 2026
−$24.4MView ↗
- ▲ +71% (Loss)
- vs −$14.2M in Q3 FY2025
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Sep 14, 2026
FDA cleared Mint as Beta Bionics cut its 2026 revenue outlook
It lowered its 2026 revenue estimate to $121 million to $126 million from $131 million to $136 million, citing possible delays as prospective iLet users wait for Mint.
Sources
8-K, filed Sep 15, 2026
For the full year 2026, the Company estimates total revenue of approximately $121 million to $126 million (previously $131 million to $136…View ↗
Who Do They Compete With?
Competes with Medtronic, Tandem, and Insulet
10-K for FY2025, filed Feb 24, 2026The medical device industry is intensely competitive, subject to rapid change, and highly sensitive to the introduction of new products…View ↗
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