Beta Bionics, Inc. Q4 2025 Earnings Call Summary

Moby Intelligence

Wed, February 18, 2026 astatine 7:30 AM CST 3 min read

• Achieved $100.3 cardinal successful 2025 nett sales, representing 54% year-over-year maturation driven by a doubling of the installed basal to 35,000 users.

• Attributed income unit productivity to the iLet's afloat automated algorithm and integer ecosystem, which allowed a smaller squad of 63 territories to vie efficaciously against larger incumbents.

• Successfully executed a pharmacy transmission strategy, establishing formulary agreements with each large U.S. PBMs to little diligent out-of-pocket costs and thrust high-margin recurring revenue.

• Maintained the strongest gross borderline illustration successful the durable pump abstraction astatine 55.4%, contempt the short-term dilutive effects of accelerated pharmacy transmission expansion.

• Observed important marketplace enlargement done the iLet, with 69% of caller diligent starts coming from individuals antecedently utilizing aggregate regular injections alternatively than switching from different pumps.

• Reported that 25% to 30% of Q4 caller diligent starts were off-label benignant 2 diabetes users, highlighting beardown integrated request up of a ceremonial regulatory indication.

• Addressed the January 2026 FDA informing letter, clarifying that findings related to ailment handling definitions (e.g., reporting self-treated hypoglycemia) and bundle update filing procedures alternatively than merchandise safety.

• Projected 2026 gross of $130 cardinal to $135 million, assuming unchangeable DME pricing and a debased single-digit terms summation for pharmacy supplies.

• Anticipates 2026 gross margins betwixt 55.5% and 57.5%, with sequential quarterly betterment arsenic manufacturing leverage and pharmacy recurring gross scale.

• Plans to grow the income unit by astatine slightest 20 caller territories successful 2026, focusing connected high-quality reps successful precedence markets to summation endocrinologist and superior attraction reach.

• Expects Q1 2026 gross to diminution sequentially from Q4 2025 owed to yearly deductible resets and the lack of the circumstantial merchandise motorboat tailwinds seen successful aboriginal 2025.

• Committed to an unconstrained commercialized motorboat of the Mint spot pump by the extremity of 2027, leveraging existing PBM contracts for accelerated coverage.

• Confirmed a remediation timeline for the FDA informing letter, with the extremity of having each humanities ailment filings afloat compliant by the extremity of Q2 2026.

• Noted a $1 cardinal pull-forward of stocking orders from Q1 2026 into Q4 2025 arsenic pharmacy channels anticipated year-end terms increases.

• Identified pharmacy premix volatility arsenic a cardinal hazard factor, arsenic accelerated shifts toward pharmacy starts make short-term gross and borderline headwinds contempt semipermanent accretion.

• Transitioned disclosure practices to nary longer supply nonstop quarterly caller diligent commencement figures, aligning with manufacture peers portion maintaining gross transparency by channel.