NASDAQ · Financial Statements

Bicycle Therapeutics plc (BCYC) Financial Statements

$4.22 NASDAQ: BCYC Market Cap $292.84M

Bicycle Therapeutics plc most recently reported annual revenue of $73.0M, a net loss of $219.0M. Revenue grew at an average annual rate of 48.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Bicycle Therapeutics plc: net profit was positive in 0 of 10 reported years; operating margin moved from -787.0% to -341.3%, a shift of +445.8 percentage points; the most recent year shows a net loss of $219.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$0$2.0M$7.0M$14.0M$10.0M$12.0M$14.0M$27.0M$35.0M$73.0M
Operating Expenses$13.0M$18.0M$29.0M$40.0M$62.0M$77.0M$131.0M$217.0M$245.0M$320.0M
Operating Profit$-13.0M$-16.0M$-22.0M$-26.0M$-52.0M$-66.0M$-117.0M$-190.0M$-210.0M$-248.0M
Operating Margin0.0%-787.0%-304.7%-190.6%-500.1%-561.0%-806.6%-704.1%-595.0%-341.3%
Other Income$0$0$0$-5.0M$0$-3.0M$2.0M$11.0M$36.0M$29.0M
Interest$0$0$0$0$0$3.0M$3.0M$3.0M$2.0M$0
Depreciation$0$0$1.0M$1.0M$1.0M$1.0M$4.0M$7.0M$7.0M$6.0M
Profit Before Tax$-14.0M$-16.0M$-22.0M$-31.0M$-52.0M$-68.0M$-114.0M$-179.0M$-174.0M$-219.0M
Tax$150,000$140,000$1.8M$820,000$1.4M$2.4M$1.3M$-810,000$2.7M$-70,000
Net Profit$-14.0M$-16.0M$-22.0M$-31.0M$-51.0M$-67.0M$-113.0M$-181.0M$-169.0M$-219.0M
EPS$-0.76$-1.22$-1.64$-2.77$-2.66$-2.67$-3.80$-5.08$-2.90$-3.16
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$11.0M$5.0M$5.0M$20.0M$9.0M$3.0M$4.0M$10.0M$3.0M$12.0M$48.0M$1.0M
Operating Expenses$55.0M$56.0M$60.0M$51.0M$56.0M$67.0M$71.0M$80.0M$90.0M$77.0M$73.0M$66.0M
Operating Profit$-43.0M$-51.0M$-54.0M$-32.0M$-47.0M$-64.0M$-68.0M$-70.0M$-87.0M$-66.0M$-25.0M$-66.0M
Operating Margin-378.3%-949.1%-1017.4%-162.4%-498.3%-2385.9%-1824.8%-703.7%-2965.8%-558.6%-51.4%-7394.5%
Interest$1.0M$1.0M$1.0M$1.0M$1.0M$0$0$0$0$0$0$0
Profit Before Tax$-43.0M$-48.0M$-49.0M$-27.0M$-40.0M$-54.0M$-53.0M$-62.0M$-79.0M$-59.0M$-19.0M$-61.0M
Tax$1.2M$-4.8M$-660,000$1.3M$-290,000$6.4M$2.0M$1.8M$290,000$-350,000$-6.7M$-280,000
Net Profit$-43.0M$-50.0M$-49.0M$-27.0M$-40.0M$-51.0M$-52.0M$-61.0M$-79.0M$-59.0M$-20.0M$-61.0M
EPS$-1.41$-1.26$-1.16$-0.62$-0.77$-0.74$-0.74$-0.88$-1.14$-0.85$-0.29$-0.87

Over the 10 years reported for Bicycle Therapeutics plc, cash stood at $628.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 11.98 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$12.0M$74.0M$82.0M$110.0M$161.0M$480.0M$411.0M$595.0M$957.0M$718.0M
Current Assets$11.0M$72.0M$77.0M$104.0M$156.0M$459.0M$369.0M$562.0M$929.0M$683.0M
Cash$9.0M$68.0M$63.0M$92.0M$136.0M$439.0M$339.0M$526.0M$880.0M$628.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$1.0M$3.0M$11.0M$7.0M$15.0M$12.0M$21.0M$24.0M$36.0M$36.0M
Fixed Assets$1.0M$1.0M$2.0M$4.0M$4.0M$18.0M$33.0M$28.0M$17.0M$22.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$0$0$0$0$1.0M$1.0M$0
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$4.0M$121.0M$151.0M$17.0M$66.0M$134.0M$140.0M$224.0M$164.0M$108.0M
Current Liabilities$4.0M$9.0M$9.0M$9.0M$23.0M$36.0M$53.0M$70.0M$67.0M$57.0M
Borrowings$0$0$0$2.0M$16.0M$44.0M$44.0M$45.0M$9.0M$18.0M
Other Liabilities$4.0M$121.0M$151.0M$15.0M$50.0M$89.0M$96.0M$179.0M$154.0M$90.0M
Equity$0$0$0$0$0$0$0$1.0M$1.0M$1.0M
Reserves$8.0M$-47.0M$-70.0M$93.0M$95.0M$346.0M$271.0M$371.0M$793.0M$610.0M

For Bicycle Therapeutics plc, operating cash flow was positive in 0 of 10 reported years; free cash flow in the latest year was negative at $253.0M; free cash flow was positive in 0 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-11.0M$-1.0M$-26.0M$-29.0M$-18.0M$-15.0M$-86.0M$-61.0M$-165.0M$-250.0M
Investing Cash Flow$0$-2.0M$-2.0M$-3.0M$-2.0M$-4.0M$-38.0M$-6.0M$-2.0M$-5.0M
Financing Cash Flow$17.0M$0$-1.0M$0$0$7.0M$1.0M$1.0M$8.0M$0
Net Cash Flow$3.0M$58.0M$-4.0M$29.0M$44.0M$303.0M$-100.0M$188.0M$353.0M$-251.0M
Free Cash Flow$-12.0M$-3.0M$-27.0M$-30.0M$-19.0M$-17.0M$-105.0M$-64.0M$-166.0M$-253.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.37
EV / EBITDA1.19
FCF Yield-78.20%
Quick Ratio12.66
Interest Coverage-1194.08
Return 1Y-52.24%
Return 3Y-83.89%
Return 5Y-87.59%

Bicycle Therapeutics plc (BCYC) financials — frequently asked questions

What is Bicycle Therapeutics plc's annual revenue?

Bicycle Therapeutics plc (BCYC) reported annual revenue of $73.0M in its most recent fiscal year.

What is Bicycle Therapeutics plc's net profit?

Bicycle Therapeutics plc (BCYC) reported a net loss of $219.0M in its most recent fiscal year.

What is BCYC EV/EBITDA?

Bicycle Therapeutics plc's enterprise value to EBITDA (EV/EBITDA) ratio is 1.19.

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