How has BioCardia's net income changed over the last 10 years?

Below is a breakdown of BioCardia's net income over the past 5 years: 2021: -$12.62 million 2022: -$11.91 million 2023: -$11.57 million 2024: -$7.95 million 2025: -$8.23 million Check out BioCardia's forecast to explore projected trends and price targets.

What is BioCardia's operating income?

BioCardia's total operating income in 2025 was -$8.28 million, based on the following breakdown: Total Gross Profit: $0.00 Total Operating Expenses: $8.28 million

BioCardia (BCDA) Financials

$0.83 0.00 (0.00%)

Closing price 07/17/2026 04:00 PM Eastern

Extended Trading

$0.86 +0.03 (+4.14%)

As of 07:48 AM Eastern

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Annual Income Statements for BioCardia

This table shows BioCardia's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Consolidated Net Income / (Loss)	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Net Income / (Loss) Continuing Operations	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Total Pre-Tax Income	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Total Operating Income	-5.41	-7.61	-12	-14	-14	-16	-13	-12	-12	-8.00	-8.28
Total Gross Profit	-0.16	-0.18	-0.21	0.11	0.35	0.14	1.02	1.35	0.48	0.00	0.00
Total Revenue	0.90	0.58	0.48	0.63	0.71	0.15	1.02	1.35	0.48	0.00	0.00
Total Cost of Revenue	1.06	0.75	0.69	0.52	0.36	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	5.25	7.44	12	14	15	16	14	13	12	8.06	8.28
Selling, General & Admin Expense	3.73	4.11	6.40	5.76	6.00	5.86	5.09	4.42	4.40	3.67	3.32
Research & Development Expense	1.52	3.33	5.80	8.45	8.56	9.81	8.56	8.83	7.73	4.39	4.96
Total Other Income / (Expense), net	-1.29	-2.70	0.10	0.12	-0.50	0.53	0.00	0.00	0.00	0.06	0.05
Basic Earnings per Share	($4.29)	($1.23)	($2.90)	($3.28)	($2.61)	($1.48)	($0.75)	($0.67)	($8.19)	($2.90)	($1.23)
Weighted Average Basic Shares Outstanding	1.56M	8.37M	4.24M	4.26M	5.64M	10.12M	16.92M	17.72M	1.41M	2.74M	6.67M
Weighted Average Diluted Shares Outstanding	1.56M	8.37M	4.24M	4.26M	5.64M	10.12M	16.92M	20.18M	26.73M	4.68M	10.94M
Weighted Average Basic & Diluted Shares Outstanding	1.56M	8.37M	4.24M	4.26M	5.64M	10.12M	16.92M	20.18M	26.73M	4.68M	10.94M

This table shows BioCardia's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-2.57	-2.07	-2.27	-1.65	-1.74	-2.30	-2.71	-2.05	-1.48	-1.98	-2.26
Consolidated Net Income / (Loss)	-2.57	-2.07	-2.27	-1.65	-1.74	-2.30	-2.71	-2.05	-1.48	-1.98	-2.26
Net Income / (Loss) Continuing Operations	-2.57	-2.07	-2.27	-1.65	-1.74	-2.30	-2.71	-2.05	-1.48	-1.98	-2.26
Total Pre-Tax Income	-2.60	-2.11	-2.28	-1.65	-1.74	-2.29	-2.71	-2.05	-1.48	-1.98	-2.26
Total Operating Income	-2.60	-2.08	-2.28	-1.65	-1.76	-2.32	-2.73	-2.05	-1.49	-2.01	-2.27
Total Gross Profit	0.36	0.01	0.06	0.00	0.00	-0.06	0.00	0.00	0.00	-	0.00
Total Revenue	0.36	0.01	0.06	0.00	0.00	-0.06	0.00	0.00	0.00	-	0.00
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	2.96	2.10	2.33	1.65	1.76	2.32	2.73	2.05	1.49	2.01	2.27
Selling, General & Admin Expense	1.08	0.94	1.09	0.85	0.83	0.91	1.20	0.68	0.55	0.89	1.03
Research & Development Expense	1.87	1.16	1.24	0.80	0.93	1.42	1.53	1.37	0.94	1.13	1.24
Total Other Income / (Expense), net	0.00	-0.03	0.00	0.00	0.02	0.03	0.01	0.00	0.01	0.03	0.01
Basic Earnings per Share	($1.79)	($1.47)	($1.35)	($0.88)	($0.61)	($0.84)	($0.59)	($0.40)	($0.24)	($0.30)	($0.21)
Weighted Average Basic Shares Outstanding	1.44M	1.41M	1.68M	1.88M	2.83M	2.74M	4.64M	5.06M	6.28M	6.67M	10.81M
Diluted Earnings per Share	-	($1.47)	-	-	-	($0.84)	($0.59)	-	-	($0.30)	($0.21)
Weighted Average Diluted Shares Outstanding	21.62M	26.73M	27.30M	2.12M	4.58M	4.68M	4.64M	5.80M	10.61M	10.94M	10.81M
Weighted Average Basic & Diluted Shares Outstanding	21.62M	26.73M	27.30M	2.12M	4.58M	4.68M	5.18M	5.80M	10.61M	10.94M	11.37M

This table details how cash moves in and out of BioCardia's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.37	18	-8.66	-7.33	0.23	16	-8.54	-5.51	-6.26	1.27	0.13
Net Cash From Operating Activities	-7.02	-5.52	-8.67	-11	-9.45	-12	-10	-11	-9.97	-7.89	-7.44
Net Cash From Continuing Operating Activities	-7.02	-5.52	-8.67	-11	-9.45	-12	-10	-11	-9.97	-7.89	-7.44
Net Income / (Loss) Continuing Operations	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Consolidated Net Income / (Loss)	-6.70	-10	-12	-14	-15	-15	-13	-12	-12	-7.95	-8.23
Depreciation Expense	0.05	0.04	0.08	0.09	0.11	0.07	0.06	0.08	0.08	0.07	0.02
Amortization Expense	-	-	0.00	0.00	0.44	-	0.58	-	0.33	0.48	0.48
Non-Cash Adjustments To Reconcile Net Income	1.67	3.28	2.71	2.77	3.30	2.33	1.68	1.48	1.06	0.71	0.43
Changes in Operating Assets and Liabilities, net	-2.04	1.47	0.85	0.06	1.41	0.25	-0.04	-0.21	0.13	-1.20	-0.14
Net Cash From Investing Activities	-0.13	19	-0.14	-0.07	-0.15	-0.03	-0.12	-0.07	-0.01	-0.01	-0.01
Net Cash From Continuing Investing Activities	-0.13	19	-0.14	-0.07	-0.15	-0.03	-0.12	-0.07	-0.01	-0.01	-0.01
Purchase of Property, Plant & Equipment	-0.13	0.00	-0.14	-0.07	-0.15	-0.03	-0.12	-0.07	-0.01	-0.01	-0.01
Net Cash From Financing Activities	7.52	4.40	0.14	3.80	9.82	28	1.95	5.12	3.73	9.16	7.57
Net Cash From Continuing Financing Activities	7.52	4.40	0.14	3.80	9.82	28	1.95	5.12	3.73	9.16	7.57
Repurchase of Common Equity	-	-	0.00	-0.20	0.00	-2.64	-0.06	-0.42	-0.66	-1.25	-0.93
Issuance of Common Equity	-	0.00	0.00	4.00	10	31	2.00	5.54	4.39	11	8.69
Other Financing Activities, net	0.09	0.02	0.14	0.00	-1.26	-0.16	0.01	-	-	-0.14	-0.19

This table details how cash moves in and out of BioCardia's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-2.47	-0.73	-0.15	0.47	3.51	-2.56	-1.42	0.03	4.31	-2.79	-1.55
Net Cash From Operating Activities	-2.41	-1.85	-1.53	-1.31	-2.61	-2.43	-1.62	-1.65	-1.67	-2.50	-1.66
Net Cash From Continuing Operating Activities	-2.42	-1.84	-1.53	-1.31	-2.61	-2.43	-1.62	-1.65	-1.67	-2.50	-1.66
Net Income / (Loss) Continuing Operations	-2.57	-2.07	-2.27	-1.65	-1.74	-2.30	-2.71	-2.05	-1.48	-1.98	-2.26
Consolidated Net Income / (Loss)	-2.57	-2.07	-2.27	-1.65	-1.74	-2.30	-2.71	-2.05	-1.48	-1.98	-2.26
Depreciation Expense	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.00	0.00	0.00
Amortization Expense	-	-	0.09	0.09	0.09	0.21	0.12	0.10	0.10	0.18	0.12
Non-Cash Adjustments To Reconcile Net Income	0.34	-0.04	0.18	0.17	0.18	0.18	0.17	0.10	0.08	0.09	0.11
Changes in Operating Assets and Liabilities, net	-0.21	-0.08	0.45	0.05	-1.16	-0.54	0.79	0.20	-0.37	-0.78	0.36
Net Cash From Investing Activities	-	-	0.00	-0.00	-0.00	-0.00	0.00	-0.00	-	-0.01	-0.00
Net Cash From Continuing Investing Activities	-	-	0.00	-0.00	-0.00	-0.00	0.00	-0.00	-	-0.01	-0.00
Purchase of Property, Plant & Equipment	-	-	-	-	-0.00	-0.00	0.00	-	-	-0.01	-0.00
Net Cash From Financing Activities	-0.06	1.12	1.38	1.79	6.12	-0.13	0.20	1.68	5.98	-0.29	0.12
Net Cash From Continuing Financing Activities	-0.06	1.12	1.38	1.79	6.12	-0.13	0.20	1.68	5.98	-0.29	0.12
Repurchase of Common Equity	-0.15	-0.23	-0.09	-0.06	-1.08	-0.02	-0.02	-0.01	-0.80	-0.10	-0.11
Issuance of Common Equity	0.09	1.35	1.47	1.85	7.20	0.04	0.21	1.70	6.78	-	0.23

This table presents BioCardia's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4.86	22	14	6.42	7.68	23	16	9.79	2.99	3.72	3.41
Total Current Assets	4.67	22	13	6.22	6.38	23	13	7.86	1.46	2.62	2.73
Cash & Equivalents	3.56	21	13	5.36	5.59	21	13	7.36	1.10	2.37	2.50
Accounts Receivable	0.11	0.07	0.10	0.27	0.15	0.23	0.15	0.20	0.06	0.00	0.02
Prepaid Expenses	0.25	0.36	0.34	0.45	0.64	0.40	0.46	0.30	0.30	0.25	0.22
Plant, Property, & Equipment, net	0.15	0.11	0.17	0.15	0.18	0.15	0.18	0.17	0.09	0.03	0.02
Total Noncurrent Assets	0.04	0.05	0.05	0.05	1.12	0.62	2.06	1.76	1.43	1.07	0.67
Other Noncurrent Operating Assets	0.04	0.05	0.05	0.05	1.12	0.62	2.06	1.76	1.43	1.07	0.67
Total Liabilities & Shareholders' Equity	4.86	22	14	6.42	7.68	23	16	9.79	2.99	3.72	3.41
Total Liabilities	8.30	1.50	2.41	2.63	5.31	4.25	5.34	4.90	4.59	2.89	2.52
Total Current Liabilities	8.30	1.44	2.33	2.55	4.00	4.25	3.71	3.59	3.61	2.32	2.43
Accounts Payable	0.54	0.53	0.90	0.74	0.91	0.75	0.51	0.68	0.89	0.39	0.64
Accrued Expenses	0.69	0.85	1.26	1.81	2.56	2.21	2.12	2.25	2.39	1.55	1.35
Other Current Liabilities	1.33	-	-	0.00	0.53	0.61	0.24	0.32	0.33	0.39	0.44
Total Noncurrent Liabilities	0.00	0.06	0.08	0.08	1.31	0.00	1.63	1.32	0.98	0.57	0.09
Other Noncurrent Operating Liabilities	-	-	-	0.00	0.61	0.00	1.63	1.32	0.98	0.57	0.09
Commitments & Contingencies	-	-	-	-	0.00	0.00	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-3.44	21	11	3.79	2.37	19	10	4.89	-1.60	0.84	0.90
Total Preferred & Common Equity	-3.44	21	11	3.79	2.37	19	10	4.89	-1.60	0.84	0.90
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-3.44	21	11	3.79	2.37	19	10	4.89	-1.60	0.84	0.90
Common Stock	0.36	81	84	90	103	135	139	145	151	161	169
Retained Earnings	-50	-60	-72	-86	-101	-116	-129	-141	-152	-160	-168

This table presents BioCardia's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3.75	2.68	2.89	6.27	2.17	2.09	6.15	1.71
Total Current Assets	2.12	1.26	1.57	5.06	1.17	1.20	5.37	1.14
Cash & Equivalents	1.84	0.95	1.42	4.93	0.95	0.98	5.29	0.95
Accounts Receivable	0.10	0.06	0.01	0.01	-	0.01	-	0.02
Prepaid Expenses	0.18	0.25	0.14	0.12	0.22	0.21	0.08	0.17
Plant, Property, & Equipment, net	0.11	0.08	0.06	0.05	0.02	0.02	0.01	0.02
Total Noncurrent Assets	1.52	1.35	1.26	1.16	0.97	0.87	0.77	0.56
Other Noncurrent Operating Assets	1.52	1.35	1.26	1.16	0.97	0.87	0.77	0.56
Total Liabilities & Shareholders' Equity	3.75	2.68	2.89	6.27	2.17	2.09	6.15	1.71
Total Liabilities	4.41	4.95	4.85	3.51	3.69	3.98	3.52	2.78
Total Current Liabilities	3.33	4.07	4.07	2.84	3.23	3.64	3.31	2.78
Accounts Payable	0.51	1.03	1.45	0.57	0.82	1.23	1.08	0.82
Accrued Expenses	2.50	2.70	2.27	1.90	2.02	2.00	1.80	1.55
Other Current Liabilities	0.32	0.35	0.36	0.37	0.40	0.41	0.43	0.41
Total Noncurrent Liabilities	1.08	0.88	0.78	0.67	0.45	0.33	0.21	0.00
Other Noncurrent Operating Liabilities	1.08	0.88	0.78	0.67	0.45	0.33	0.21	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-0.66	-2.28	-1.96	2.75	-1.52	-1.89	2.63	-1.07
Total Preferred & Common Equity	-0.66	-2.28	-1.96	2.75	-1.52	-1.89	2.63	-1.07
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-0.66	-2.28	-1.96	2.75	-1.52	-1.89	2.63	-1.07
Common Stock	149	152	154	161	161	163	169	170
Retained Earnings	-150	-154	-156	-158	-163	-165	-166	-171

This table displays calculated financial ratios and metrics derived from BioCardia's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	230,293,141.00	230,743,141.00	38,220,141.00	38,277,908.00	6,825,183.00	12,428,794.00	16,871,265.00	17,841,927.00	21,619,432.00	4,584,285.00	10,612,734.00
DEI Adjusted Shares Outstanding	15,352,876.00	15,382,876.00	2,548,009.00	2,551,861.00	455,012.00	828,586.00	1,124,751.00	1,189,462.00	1,441,295.00	4,584,285.00	10,612,734.00
DEI Earnings Per Adjusted Shares Outstanding	-0.44	-0.67	-4.83	-5.48	-32.33	-18.11	-11.22	-10.01	-8.03	-1.73	-0.78
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	111.71%	-36.28%	-16.84%	30.48%	13.60%	-79.58%	600.00%	33.20%	-64.72%	-100.00%	0.00%
EBITDA Growth	-2,349.57%	-62.14%	-43.29%	-13.65%	2.69%	-14.33%	22.46%	1.43%	4.96%	33.66%	-4.31%
EBIT Growth	-2,369.66%	-61.44%	-43.55%	-13.64%	-0.64%	-10.34%	18.68%	5.77%	2.16%	31.29%	-3.46%
NOPAT Growth	-1,739.09%	-40.65%	-63.05%	-13.68%	-0.79%	-9.26%	18.67%	5.77%	2.16%	31.29%	-3.46%
Net Income Growth	-2,961.97%	-53.95%	-19.38%	-13.64%	-5.16%	-2.01%	15.87%	5.67%	2.82%	31.33%	-3.55%
EPS Growth	0.00%	71.33%	-135.77%	-13.10%	20.43%	43.30%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-3,381.78%	21.37%	-57.03%	-27.66%	14.67%	-30.83%	16.11%	-1.88%	5.56%	20.93%	5.71%
Free Cash Flow Firm Growth	-1,113.88%	-141.75%	-34.12%	-25.10%	15.90%	-42.82%	27.66%	2.55%	5.28%	14.44%	15.43%
Invested Capital Growth	-5,203.85%	41.97%	-103.12%	-0.13%	-105.30%	30.61%	-11.92%	1.04%	-9.51%	43.31%	-4.37%
Revenue Q/Q Growth	77.25%	-40.06%	-7.17%	0.48%	18.53%	0.00%	0.00%	2.04%	-16.32%	-100.00%	100.00%
EBITDA Q/Q Growth	-1,908.93%	12.69%	-0.01%	-0.40%	2.73%	-2,079.90%	-19,755.74%	3.66%	10.09%	3.12%	4.70%
EBIT Q/Q Growth	-1,925.09%	12.29%	-0.11%	-0.40%	0.28%	0.00%	0.00%	3.59%	7.43%	-3.05%	3.59%
NOPAT Q/Q Growth	-1,401.13%	22.17%	-0.41%	-0.98%	0.86%	0.00%	0.00%	3.59%	7.43%	-3.05%	3.59%
Net Income Q/Q Growth	-2,385.67%	24.51%	0.77%	-1.13%	0.94%	0.00%	0.00%	3.51%	7.63%	-2.90%	3.65%
EPS Q/Q Growth	0.00%	81.19%	-471.79%	24.42%	32.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-2,701.11%	46.11%	-0.12%	-6.97%	-0.11%	-1.32%	4.09%	-0.21%	10.31%	-7.97%	1.01%
Free Cash Flow Firm Q/Q Growth	-1,007.95%	9.62%	-3.92%	-6.82%	-1.28%	-1,153.10%	-2,816.67%	2.22%	10.85%	-17.73%	-3.63%
Invested Capital Q/Q Growth	-2,754.00%	-171.13%	-16.72%	16.52%	13.48%	19.46%	-0.85%	3.85%	-8.46%	29.54%	39.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-17.37%	-30.73%	-44.05%	17.28%	49.58%	97.24%	100.00%	100.00%	100.00%	0.00%	0.00%
EBITDA Margin	-582.30%	-1,481.77%	-2,553.24%	-2,223.84%	-1,904.93%	-10,664.14%	-1,181.28%	-874.19%	-2,354.93%	0.00%	0.00%
Operating Margin	-598.34%	-1,320.83%	-2,589.77%	-2,256.32%	-2,001.83%	-10,709.66%	-1,244.34%	-880.25%	-2,441.09%	0.00%	0.00%
EBIT Margin	-587.50%	-1,488.54%	-2,569.52%	-2,237.92%	-1,982.54%	-10,711.03%	-1,244.34%	-880.25%	-2,441.09%	0.00%	0.00%
Profit (Net Income) Margin	-740.82%	-1,789.93%	-2,569.52%	-2,237.92%	-2,071.69%	-10,347.59%	-1,243.65%	-880.70%	-2,425.79%	0.00%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.94%	100.05%	99.37%	100.00%	100.00%
Interest Burden Percent	126.10%	120.25%	100.00%	100.00%	104.50%	96.61%	100.00%	100.00%	100.00%	99.31%	99.40%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-128.49%	-120.30%	-77.64%	-187.53%	-477.41%	-139.27%	-85.43%	-155.98%	-703.62%	2,074.67%	-950.12%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-56.69%	-63.64%	-69.11%	-140.19%	-199.73%	-99.87%	-64.53%	-93.30%	-182.22%	0.00%	0.00%
Return on Assets (ROA)	-71.48%	-76.53%	-69.11%	-140.19%	-208.71%	-96.48%	-64.50%	-93.35%	-181.08%	0.00%	0.00%
Return on Common Equity (ROCE)	-128.49%	-120.30%	-77.64%	-187.53%	-477.41%	-139.27%	-85.43%	-155.98%	-703.62%	2,074.67%	-950.12%
Return on Equity Simple (ROE_SIMPLE)	194.57%	-50.09%	-110.63%	-368.86%	-620.63%	-78.24%	-121.67%	-243.40%	721.83%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.79	-5.33	-8.68	-9.87	-9.95	-11	-8.84	-8.33	-8.15	-5.60	-5.79
NOPAT Margin	-418.84%	-924.58%	-1,812.84%	-1,579.42%	-1,401.28%	-7,496.76%	-871.03%	-616.18%	-1,708.76%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-49.65%	-51.82%	-21.29%	-45.61%	-86.99%	-30.63%	-22.07%	-35.35%	-80.80%	-135.02%	-100.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	508.47%	-669.14%	-647.44%
Cost of Revenue to Revenue	117.37%	130.73%	144.05%	82.72%	50.42%	2.76%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	413.05%	713.19%	1,335.07%	921.12%	845.49%	4,042.07%	501.18%	326.85%	921.38%	0.00%	0.00%
R&D to Revenue	167.92%	578.13%	1,210.65%	1,352.48%	1,205.92%	6,764.83%	843.15%	653.40%	1,619.71%	0.00%	0.00%
Operating Expenses to Revenue	580.97%	1,291.32%	2,545.72%	2,273.60%	2,051.41%	10,806.90%	1,344.34%	980.25%	2,541.09%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-5.31	-8.57	-12	-14	-14	-16	-13	-12	-12	-8.00	-8.28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.26	-8.54	-12	-14	-14	-15	-12	-12	-11	-7.45	-7.77
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.19	0.36	24.63	10.60	2.24	3.15	7.62	0.00	11.94	14.82
Price to Tangible Book Value (P/TBV)	0.00	1.19	0.36	24.63	10.60	2.24	3.15	7.62	0.00	11.94	14.82
Price to Revenue (P/Rev)	27.00	42.46	8.46	149.44	35.38	296.58	32.25	27.58	30.10	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	29.34	5.39	0.00	140.86	27.51	148.94	19.56	22.14	27.79	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.65	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.12	-1.12	-1.07	-1.21	-1.78	-1.25	-1.16	-1.33	-2.57	4.54	-2.81
Leverage Ratio	1.80	1.57	1.12	1.34	2.29	1.44	1.32	1.67	3.89	-8.76	4.12
Compound Leverage Factor	2.27	1.89	1.12	1.34	2.39	1.39	1.32	1.67	3.89	-8.70	4.10
Debt to Total Capital	254.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	254.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-154.35%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-1.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-0.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-1.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-0.56	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-16.90	5.83	-8.48	-3.90	-21.18	-2.10	-9.63	-18.88	-83.01	-65.11	-73.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.56	15.18	5.71	2.44	1.59	5.33	3.63	2.19	0.40	1.13	1.12
Quick Ratio	0.44	14.84	5.48	2.21	1.43	5.09	3.51	2.11	0.32	1.02	1.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2.43	-5.88	-7.89	-9.87	-8.30	-12	-8.58	-8.36	-7.92	-6.77	-5.73
Operating Cash Flow to CapEx	-5,618.40%	0.00%	-6,375.74%	-16,771.21%	-6,469.18%	-38,615.63%	-8,936.21%	-15,087.14%	-83,116.67%	-131,433.33%	-106,228.57%
Free Cash Flow to Firm to Interest Expense	-1.76	-3.39	0.00	0.00	-13.11	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-5.07	-3.18	0.00	0.00	-14.92	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-5.16	-3.18	0.00	0.00	-15.15	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.04	0.03	0.06	0.10	0.01	0.05	0.11	0.07	0.00	0.00
Accounts Receivable Turnover	0.00	6.36	5.67	3.39	3.37	0.77	5.36	7.77	3.61	0.00	0.00
Inventory Turnover	0.00	1.68	4.23	3.11	4.94	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.41	3.42	3.98	4.36	0.89	6.21	7.68	3.61	0.00	0.00
Accounts Payable Turnover	0.00	1.41	0.97	0.63	0.43	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	57.35	64.39	107.75	108.21	477.02	68.15	46.97	101.01	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	216.67	86.22	117.20	73.92	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	258.60	377.43	580.68	844.70	75,737.50	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	15.42	-226.82	-355.74	-662.57	-75,260.48	68.15	46.97	101.01	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1.33	-0.77	-1.56	-1.57	-3.22	-2.23	-2.50	-2.47	-2.71	-1.53	-1.60
Invested Capital Turnover	-1.39	-0.55	-0.41	-0.40	-0.30	-0.05	-0.43	-0.54	-0.18	0.00	0.00
Increase / (Decrease) in Invested Capital	-1.35	0.56	-0.79	-0.00	-1.65	0.98	-0.27	0.03	-0.24	1.17	-0.07
Enterprise Value (EV)	27	3.11	-8.64	88	20	22	20	30	13	7.62	11
Market Capitalization	24	24	4.05	93	25	43	33	37	14	9.99	13
Book Value per Share	($0.01)	$0.09	$0.29	$0.10	$0.35	$1.54	$0.62	$0.27	($0.07)	$0.18	$0.08
Tangible Book Value per Share	($0.01)	$0.09	$0.29	$0.10	$0.35	$1.54	$0.62	$0.27	($0.07)	$0.18	$0.08
Total Capital	2.23	21	11	3.79	2.37	19	10	4.89	-1.60	0.84	0.90
Total Debt	5.67	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	2.12	-21	-13	-5.36	-5.59	-21	-13	-7.36	-1.10	-2.37	-2.50
Capital Expenditures (CapEx)	0.13	0.00	0.14	0.07	0.15	0.03	0.12	0.07	0.01	0.01	0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.52	-0.88	-1.71	-1.69	-3.21	-3.00	-3.10	-3.08	-3.25	-2.07	-2.20
Debt-free Net Working Capital (DFNWC)	2.04	20	11	3.67	2.38	18	9.77	4.28	-2.15	0.30	0.30
Net Working Capital (NWC)	-3.64	20	11	3.67	2.38	18	9.77	4.28	-2.15	0.30	0.30
Net Nonoperating Expense (NNE)	2.91	4.98	3.62	4.12	4.76	4.13	3.78	3.58	3.42	2.35	2.43
Net Nonoperating Obligations (NNO)	2.12	-21	-13	-5.36	-5.59	-21	-13	-7.36	-1.10	-2.37	-2.50
Total Depreciation and Amortization (D&A)	0.05	0.04	0.08	0.09	0.55	0.07	0.64	0.08	0.41	0.55	0.51
Debt-free, Cash-free Net Working Capital to Revenue	-168.14%	-152.60%	-356.16%	-270.08%	-452.11%	-2,066.90%	-305.71%	-228.11%	-681.34%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	225.33%	3,554.34%	2,292.90%	587.20%	334.51%	12,696.55%	962.46%	316.49%	-450.10%	0.00%	0.00%
Net Working Capital to Revenue	-402.10%	3,554.34%	2,292.90%	587.20%	334.51%	12,696.55%	962.46%	316.49%	-450.10%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.50)	($4.80)	($5.40)	($39.15)	($22.20)	($11.25)	($10.05)	($8.25)	($2.90)	($1.23)
Adjusted Weighted Average Basic Shares Outstanding	15.35M	30.51M	2.55M	2.91M	456.56K	1.09M	1.12M	1.18M	1.41M	2.74M	6.67M
Adjusted Diluted Earnings per Share	$0.00	($1.50)	($4.80)	($5.40)	($39.15)	($22.20)	($11.25)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	15.35M	30.51M	2.55M	2.91M	456.56K	1.09M	1.12M	1.35M	1.78M	4.68M	10.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.50)	($4.80)	($5.40)	($39.15)	($22.20)	($11.25)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.35M	6.69M	2.54M	2.56M	376.29K	674.58K	1.13M	1.35M	1.78M	4.68M	10.94M
Normalized Net Operating Profit after Tax (NOPAT)	-3.79	-5.33	-8.68	-9.87	-9.95	-11	-8.84	-8.33	-8.15	-5.60	-5.79
Normalized NOPAT Margin	-418.84%	-924.58%	-1,812.84%	-1,579.42%	-1,401.28%	-7,496.76%	-871.03%	-616.18%	-1,708.76%	0.00%	0.00%
Pre Tax Income Margin	-740.82%	-1,789.93%	-2,569.52%	-2,237.92%	-2,071.69%	-10,347.59%	-1,244.34%	-880.25%	-2,441.09%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.83	-4.94	0.00	0.00	-22.24	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-2.73	-3.07	0.00	0.00	-15.72	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-3.92	-4.94	0.00	0.00	-22.47	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-2.82	-3.07	0.00	0.00	-15.95	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-1.43%	0.00%	-17.56%	-0.47%	-3.51%	-5.72%	-15.76%	-11.30%

This table displays calculated financial ratios and metrics derived from BioCardia's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	21,619,432.00	21,619,432.00	26,732,542.00	27,304,116.00	2,123,876.00	4,584,285.00	4,680,005.00	5,177,890.00	11,602,448.00	10,612,734.00	10,940,372.00
DEI Adjusted Shares Outstanding	1,441,295.00	1,441,295.00	1,782,169.00	1,820,274.00	2,123,876.00	4,584,285.00	4,680,005.00	5,177,890.00	11,602,448.00	10,612,734.00	10,940,372.00
DEI Earnings Per Adjusted Shares Outstanding	-1.79	-1.44	-1.27	-0.90	-0.82	-0.50	-0.58	-0.40	-0.13	-0.19	-0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	68.40%	-87.74%	-14.06%	-100.00%	-100.00%	-523.08%	-100.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	14.98%	31.13%	37.82%	54.66%	36.05%	-1.36%	-19.55%	-26.18%	16.20%	12.62%	17.39%
EBIT Growth	15.10%	30.95%	35.19%	51.84%	32.41%	-11.37%	-19.82%	-24.38%	15.26%	13.27%	16.87%
NOPAT Growth	15.10%	30.95%	35.19%	52.23%	32.41%	-11.37%	-19.82%	-24.38%	15.26%	13.27%	16.87%
Net Income Growth	15.80%	31.57%	35.25%	51.93%	32.52%	-10.81%	-19.63%	-24.48%	14.62%	13.59%	16.70%
EPS Growth	0.00%	31.57%	0.00%	0.00%	0.00%	42.86%	0.00%	0.00%	0.00%	64.29%	64.41%
Operating Cash Flow Growth	-20.24%	38.24%	40.23%	58.36%	-8.25%	-31.44%	-5.75%	-25.69%	35.96%	-2.63%	-2.53%
Free Cash Flow Firm Growth	7.54%	42.78%	35.69%	72.81%	18.29%	-128.53%	-100.92%	-341.26%	63.90%	52.01%	23.47%
Invested Capital Growth	2.92%	-9.51%	-9.03%	-26.67%	12.75%	43.31%	23.42%	15.26%	-22.19%	-4.37%	18.31%
Revenue Q/Q Growth	730.23%	-96.36%	323.08%	-100.00%	0.00%	0.00%	100.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	24.27%	19.91%	-5.09%	28.86%	-6.80%	-26.94%	-23.95%	25.60%	29.07%	-32.37%	-17.18%
EBIT Q/Q Growth	24.12%	19.78%	-9.17%	27.52%	-6.49%	-32.18%	-17.45%	24.76%	27.45%	-35.28%	-12.57%
NOPAT Q/Q Growth	24.74%	19.78%	-9.17%	27.52%	-6.49%	-32.18%	-17.45%	24.76%	27.45%	-35.28%	-12.57%
Net Income Q/Q Growth	24.82%	19.50%	-9.41%	27.39%	-5.53%	-32.18%	-18.12%	24.45%	27.62%	-33.78%	-13.86%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	29.76%	0.00%	0.00%	0.00%	30.00%
Operating Cash Flow Q/Q Growth	23.45%	23.26%	17.34%	14.25%	-99.01%	6.82%	33.50%	-1.92%	-1.39%	-49.34%	33.56%
Free Cash Flow Firm Q/Q Growth	-16.43%	35.37%	-8.31%	66.63%	-249.81%	-80.76%	4.77%	26.72%	71.38%	-140.26%	-51.87%
Invested Capital Q/Q Growth	6.55%	-8.46%	-19.14%	-4.90%	35.63%	29.54%	-60.95%	-16.08%	7.19%	39.81%	-25.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Margin	-721.85%	-15,876.92%	-3,943.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Margin	-727.73%	-16,030.77%	-4,136.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Margin	-727.73%	-16,030.77%	-4,136.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	-721.01%	-15,938.46%	-4,121.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Burden Percent	99.08%	98.11%	99.65%	100.00%	100.00%	100.35%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	101.34%	100.00%	99.82%	98.92%	98.58%	99.49%	99.90%	99.66%	98.56%	99.69%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-728.95%	-703.62%	5,513.07%	5,250.92%	-737.89%	2,074.67%	442.21%	457.19%	-317.47%	-950.12%	601.31%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-64.18%	-1,196.66%	-394.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-63.59%	-1,189.77%	-393.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	-728.95%	-703.62%	5,513.07%	5,250.92%	-737.89%	2,074.67%	442.21%	457.19%	-317.47%	-950.12%	601.31%
Return on Equity Simple (ROE_SIMPLE)	1,898.03%	0.00%	454.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.82	-1.46	-1.59	-1.15	-1.23	-1.62	-1.91	-1.44	-1.04	-1.41	-1.59
NOPAT Margin	-509.41%	-11,221.54%	-2,895.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-17.77%	-14.49%	-23.23%	-17.17%	-15.01%	-38.65%	-84.70%	-51.09%	-8.64%	-23.62%	-70.82%
Return On Investment Capital (ROIC_SIMPLE)	-	91.00%	70.00%	58.86%	-44.65%	-194.11%	125.54%	76.12%	-39.65%	-157.44%	148.80%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	303.36%	7,238.46%	1,980.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	524.37%	8,892.31%	2,256.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	827.73%	16,130.77%	4,236.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-2.60	-2.08	-2.28	-1.65	-1.76	-2.32	-2.73	-2.05	-1.49	-2.01	-2.27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.58	-2.06	-2.17	-1.54	-1.65	-2.09	-2.59	-1.95	-1.38	-1.83	-2.14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	2.41	11.94	0.00	0.00	2.85	14.82	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	2.41	11.94	0.00	0.00	2.85	14.82	0.00
Price to Revenue (P/Rev)	16.31	30.10	23.25	12.72	97.45	0.00	0.00	0.00	0.00	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	13.09	27.79	21.22	9.38	24.95	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-2.47	-2.57	15.48	17.56	-3.23	4.54	0.50	0.62	-1.90	-2.81	0.73
Leverage Ratio	3.76	3.89	-26.15	-28.46	4.78	-8.76	-1.28	-1.29	2.31	4.12	-1.50
Compound Leverage Factor	3.76	3.94	-26.15	-28.41	4.73	-8.64	-1.27	-1.29	2.30	4.06	-1.50
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-57.34	-72.45	-83.28	-77.72	-34.61	-60.08	-108.63	-113.65	-37.02	-67.74	-142.17
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.64	0.40	0.31	0.39	1.78	1.13	0.36	0.33	1.62	1.12	0.41
Quick Ratio	0.58	0.32	0.25	0.35	1.74	1.02	0.29	0.27	1.60	1.03	0.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.89	-1.22	-1.33	-0.44	-1.55	-2.80	-2.66	-1.95	-0.56	-1.34	-2.04
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	-130,550.00%	-243,300.00%	0.00%	0.00%	0.00%	-41,616.67%	-55,300.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.09	0.07	0.10	0.09	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Receivable Turnover	2.82	3.61	4.44	6.80	1.19	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.76	3.61	4.02	4.25	0.84	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	129.35	101.01	82.28	53.68	305.96	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	129.35	101.01	82.28	53.68	305.96	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-2.50	-2.71	-3.22	-3.38	-2.18	-1.53	-2.47	-2.87	-2.66	-1.60	-2.02
Invested Capital Turnover	-0.23	-0.18	-0.15	-0.14	-0.03	0.00	0.00	0.00	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	0.08	-0.24	-0.27	-0.71	0.32	1.17	0.76	0.52	-0.48	-0.07	0.45
Enterprise Value (EV)	7.46	13	9.93	3.99	1.70	7.62	11	9.12	2.20	11	12
Market Capitalization	9.29	14	11	5.41	6.63	9.99	12	10	7.48	13	13
Book Value per Share	($0.03)	($0.07)	($0.09)	($0.07)	$1.30	$0.18	($0.32)	($0.36)	$0.45	$0.08	($0.10)
Tangible Book Value per Share	($0.03)	($0.07)	($0.09)	($0.07)	$1.30	$0.18	($0.32)	($0.36)	$0.45	$0.08	($0.10)
Total Capital	-0.66	-1.60	-2.28	-1.96	2.75	0.84	-1.52	-1.89	2.63	0.90	-1.07
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1.84	-1.10	-0.95	-1.42	-4.93	-2.37	-0.95	-0.98	-5.29	-2.50	-0.95
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3.05	-3.25	-3.76	-3.92	-2.71	-2.07	-3.01	-3.42	-3.23	-2.20	-2.59
Debt-free Net Working Capital (DFNWC)	-1.21	-2.15	-2.81	-2.50	2.22	0.30	-2.06	-2.44	2.06	0.30	-1.64
Net Working Capital (NWC)	-1.21	-2.15	-2.81	-2.50	2.22	0.30	-2.06	-2.44	2.06	0.30	-1.64
Net Nonoperating Expense (NNE)	0.76	0.61	0.67	0.49	0.51	0.67	0.80	0.61	0.44	0.57	0.67
Net Nonoperating Obligations (NNO)	-1.84	-1.10	-0.95	-1.42	-4.93	-2.37	-0.95	-0.98	-5.29	-2.50	-0.95
Total Depreciation and Amortization (D&A)	0.02	0.02	0.11	0.11	0.11	0.23	0.13	0.10	0.11	0.19	0.12
Debt-free, Cash-free Net Working Capital to Revenue	-534.91%	-681.34%	-803.63%	-922.12%	-3,991.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	-212.98%	-450.10%	-600.85%	-587.76%	3,258.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	-212.98%	-450.10%	-600.85%	-587.76%	3,258.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.80)	($22.05)	($1.35)	($0.88)	($0.61)	($0.84)	($0.59)	($0.40)	($0.24)	($0.30)	($0.21)
Adjusted Weighted Average Basic Shares Outstanding	1.44M	94.13K	1.68M	1.88M	2.83M	2.74M	4.64M	5.06M	6.28M	6.67M	10.81M
Adjusted Diluted Earnings per Share	$0.00	($22.05)	$0.00	$0.00	$0.00	($0.84)	$0.00	$0.00	$0.00	($0.30)	($0.21)
Adjusted Weighted Average Diluted Shares Outstanding	1.44M	1.78M	1.82M	2.12M	4.58M	4.68M	5.18M	5.80M	10.61M	10.94M	10.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	($22.05)	$0.00	$0.00	$0.00	($0.84)	$0.00	$0.00	$0.00	($0.30)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.44M	1.78M	1.82M	2.12M	4.58M	4.68M	5.18M	5.80M	10.61M	10.94M	11.37M
Normalized Net Operating Profit after Tax (NOPAT)	-1.82	-1.46	-1.59	-1.15	-1.23	-1.62	-1.91	-1.44	-1.04	-1.41	-1.59
Normalized NOPAT Margin	-509.41%	-11,221.54%	-2,895.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Pre Tax Income Margin	-727.73%	-16,246.15%	-4,136.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-4.97%	-5.72%	-5.53%	-6.18%	-18.84%	-15.76%	-14.04%	-12.85%	-10.05%	-11.30%	-13.14%

Financials Breakdown Chart

Key Financial Trends

BioCardia’s latest quarter shows a company still in development mode, with no revenue, ongoing operating losses, and continued cash burn. In Q1 2026, the company reported $0 in revenue and a net loss of $2.3 million, essentially flat versus the prior quarter’s $2.0 million loss but worse than the $1.5 million loss in Q3 2025. The balance sheet has also weakened meaningfully from a year ago, though the company still held some cash at quarter-end.

Cash and equivalents increased sequentially to $951,000 in Q1 2026 from $528,700 in Q3 2025, helped by financing activity during the period.
Operating expenses in Q1 2026 were $2.27 million, down slightly from $2.01 million in Q4 2025 but still below the levels seen earlier in 2025.
Q1 2026 financing provided a net $117,000, including $225,000 of equity issuance, which helped offset part of the cash burn.
The company’s basic share count in Q1 2026 was 10.8 million, not far from prior quarters, suggesting dilution was not extreme in the latest period.
BioCardia continues to report no revenue, so results are still driven entirely by expenses and financing rather than commercial sales.
Quarterly losses have remained in a fairly narrow range, with net losses of roughly $1.5 million to $2.3 million over the last five reported quarters.
Research and development spending remained a major cost center at $1.24 million in Q1 2026, reflecting continued investment in product development.
The company has relied heavily on equity financing throughout the period, which is common for a small biotech but can pressure existing shareholders over time.
Operating cash flow was negative $1.66 million in Q1 2026, showing the business is still burning cash from core operations.
Cash and equivalents fell sharply from $5.29 million in Q3 2025 to $951,000 in Q1 2026, indicating a steep drawdown in liquidity over recent quarters.
Total liabilities rose to $2.78 million in Q1 2026 from $3.52 million in Q3 2025, while equity remained negative at negative $1.07 million, highlighting a weak capital structure.
Compared with Q1 2025, the company’s losses widened from $2.71 million to $2.26 million, and revenue remains nonexistent, so there is still no sign of commercial scaling.

Bottom line: BioCardia remains a high-risk, pre-revenue biotech story. The company is spending on research and administrative operations while depending on external financing to fund operations. Investors should focus on whether BioCardia can advance its pipeline toward commercialization and reduce its dependence on dilution and cash burn.

07/20/26 05:12 AM ETAI Generated. May Contain Errors.

BioCardia Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BioCardia's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Below is a breakdown of BioCardia's net income over the past 5 years:

2021: -$12.62 million
2022: -$11.91 million
2023: -$11.57 million
2024: -$7.95 million
2025: -$8.23 million

Check out BioCardia's forecast to explore projected trends and price targets.

BioCardia's total operating income in 2025 was -$8.28 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $8.28 million

Over the last 10 years, BioCardia's total revenue changed from $904 thousand in 2015 to $0.00 in 2025, a change of -100.0%.

BioCardia's total liabilities were at $2.52 million at the end of 2025, a 12.8% decrease from 2024, and a 69.7% decrease since 2015.

In the past 10 years, BioCardia's cash and equivalents has ranged from $1.10 million in 2023 to $21.41 million in 2020, and is currently $2.50 million as of their latest financial filing in 2025.

Over the last 10 years, BioCardia's book value per share changed from -0.01 in 2015 to 0.08 in 2025, a change of -665.8%.

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Financial statements for NASDAQ:BCDA last updated on 7/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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BioCardia (BCDA) Financials

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BioCardia (BCDA) Financials

Annual Income Statements for BioCardia

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Quarterly Cash Flow Statements for BioCardia

Annual Balance Sheets for BioCardia

Quarterly Balance Sheets for BioCardia

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Quarterly Metrics And Ratios for BioCardia

Financials Breakdown Chart

Key Financial Trends

BioCardia Financials - Frequently Asked Questions

When does BioCardia's financial year end?

How has BioCardia's net income changed over the last 10 years?

What is BioCardia's operating income?

How has BioCardia's revenue changed over the last 10 years?

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How has BioCardia's book value per share changed over the last 10 years?

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