BDTX Black Diamond Therapeutics, Inc.

Overview and Growth

Black Diamond Therapeutics, Inc. generated $70.00M of revenue in fiscal 2025, with net income of $22.37M and an operating cash inflow of $29.61M. At $70.00M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Diluted earnings per share were $0.39, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted shares averaged 57.56M; this is the reported share base over which the company’s diluted per-share earnings were spread. Diluted shares moved 4.6% from 55.03M in fiscal 2024, leaving the current share base higher year over year. Total assets stood at $143.01M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.49x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operations produced $12.52M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 17.9%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $22.37M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 32.0% margin after operating costs and the remaining recognized items. EBITDA was $12.85M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The reported income-tax provision was $0.00, the amount recognized between pretax income and the final net-income result. Return on period-end equity was 19.9%, relating annual net income to the equity capital on the balance sheet. Net income represented 15.6% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Net income of $22.37M replaced the $69.68M loss reported in fiscal 2024.

Liquidity and Capital Structure

At period end, the $143.01M asset base was financed through $30.80M of liabilities and $112.21M of equity. The near-term balance sheet paired $132.44M of current assets with $15.73M of current liabilities at the reporting date. Current assets covered current liabilities by 8.42x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $20.99M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 133.4% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The equity-to-assets relationship was 78.5%, placing book capital against the total resource base. Liabilities represented 21.5% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 14.7% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 16.6% higher than fiscal 2024 assets of $122.64M, measuring the company’s own balance-sheet change. Reported equity changed 34.7% from $83.28M in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 42.4% from $36.44M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $29.61M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.32x, showing the relationship between accrual earnings and operating cash. Operating cash flow moved from a $62.30M outflow in fiscal 2024 to a $29.61M inflow.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.