Biocardia Inc Financials

BCDA

Source SEC Filings (10-K/10-Q) Updated Mar 24, 2026 Currency USD FYE March

This page shows Biocardia Inc (BCDA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Low Quality

0.90x

For every $1 of reported earnings, Biocardia Inc generates $0.90 in operating cash flow (-$7.4M OCF vs -$8.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

YoY-100.0%

Biocardia Inc generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

-$8.3M

YoY-4.0%

Biocardia Inc's EBITDA was -$8.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.0% from the prior year.

Net Income

-$8.2M

YoY-3.5%

Biocardia Inc reported -$8.2M in net income in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$7.4M

YoY+7.3%

Biocardia Inc generated -$7.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 7.3% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

11M

YoY+137.8%

Biocardia Inc had 11M shares outstanding in fiscal year 2025. This represents an increase of 137.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

$5.0M

YoY+13.1%

5Y CAGR-12.7%

10Y CAGR+12.6%

Biocardia Inc invested $5.0M in research and development in fiscal year 2025. This represents an increase of 13.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$7K

YoY+16.7%

5Y CAGR-26.2%

10Y CAGR-25.0%

Biocardia Inc invested $7K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 16.7% from the prior year.

BCDA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0-100.0%	$58K-87.8%	$477K-64.7%	$1.4M+33.2%	$1.0M+600.0%	$145K
Cost of Revenue	N/A	N/A	N/A	N/A	$0-100.0%	$4K
Gross Profit	N/A	N/A	N/A	N/A	$1.0M+619.9%	$141K
R&D Expenses	$5.0M+13.1%	$4.4M-43.2%	$7.7M-12.5%	$8.8M+3.2%	$8.6M-12.8%	$9.8M
SG&A Expenses	$3.3M-9.7%	$3.7M-16.5%	$4.4M-0.5%	$4.4M-13.1%	$5.1M-13.2%	$5.9M
Operating Income	-$8.3M-3.5%	-$8.0M+31.3%	-$11.6M+2.2%	-$11.9M+5.8%	-$12.6M+18.7%	-$15.5M
Interest Expense	N/A	N/A	N/A	N/A	$0-100.0%	$3K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$8.2M-3.5%	-$7.9M+31.3%	-$11.6M+2.8%	-$11.9M+5.7%	-$12.6M+15.9%	-$15.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$0	$0	$0	N/A	$0-100.0%	$3K-94.5%	$55K+323.1%	$13K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$936K-31.6%	$1.4M-10.6%	$1.5M	N/A	$931K+16.4%	$800K-35.5%	$1.2M+7.4%	$1.2M
SG&A Expenses	$552K-19.2%	$683K-42.9%	$1.2M	N/A	$825K-3.2%	$852K-21.8%	$1.1M+15.7%	$941K
Operating Income	-$1.5M+27.5%	-$2.1M+24.8%	-$2.7M	N/A	-$1.8M-6.5%	-$1.6M+27.5%	-$2.3M-9.2%	-$2.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A	$0	$0	$0	$0
Net Income	-$1.5M+27.6%	-$2.0M+24.4%	-$2.7M	N/A	-$1.7M-5.5%	-$1.6M+27.4%	-$2.3M-9.4%	-$2.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BCDA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	N/A	$3.7M+24.7%	$3.0M-69.5%	$9.8M-37.7%	$15.7M-32.9%	$23.4M
Current Assets	N/A	$2.6M+79.5%	$1.5M-81.4%	$7.9M-41.7%	$13.5M-40.5%	$22.7M
Cash & Equivalents	N/A	$2.4M+115.0%	$1.1M-85.0%	$7.4M-42.8%	$12.9M-39.9%	$21.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$0-100.0%	$63K-68.7%	$201K+36.7%	$147K-36.6%	$232K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$2.9M-37.1%	$4.6M-6.3%	$4.9M-8.3%	$5.3M+25.8%	$4.2M
Current Liabilities	N/A	$2.3M-35.7%	$3.6M+0.6%	$3.6M-3.4%	$3.7M-12.6%	$4.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	N/A	$837K+152.2%	-$1.6M-132.8%	$4.9M-52.8%	$10.4M-45.9%	$19.2M
Retained Earnings	N/A	-$160.1M-5.2%	-$152.2M-8.2%	-$140.6M-9.3%	-$128.7M-10.9%	-$116.1M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$6.1M+194.3%	$2.1M-3.6%	$2.2M-41.8%	$3.7M-40.6%	$6.3M+116.9%	$2.9M+7.9%	$2.7M-10.3%	$3.0M
Current Assets	$5.4M+347.5%	$1.2M+2.2%	$1.2M-55.3%	$2.6M-48.1%	$5.1M+221.4%	$1.6M+24.9%	$1.3M-13.8%	$1.5M
Cash & Equivalents	$5.3M+439.5%	$980K+3.3%	$949K-60.0%	$2.4M-51.9%	$4.9M+246.9%	$1.4M+49.7%	$949K-14.0%	$1.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$10K	N/A	$0-100.0%	$10K0.0%	$10K-82.8%	$58K-7.9%	$63K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.5M-11.4%	$4.0M+7.8%	$3.7M+27.7%	$2.9M-17.8%	$3.5M-27.6%	$4.9M-2.1%	$5.0M+7.9%	$4.6M
Current Liabilities	$3.3M-9.1%	$3.6M+12.6%	$3.2M+39.3%	$2.3M-18.3%	$2.8M-30.2%	$4.1M0.0%	$4.1M+12.8%	$3.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.6M+239.3%	-$1.9M-24.1%	-$1.5M-281.6%	$837K-69.6%	$2.8M+240.4%	-$2.0M+13.8%	-$2.3M-41.9%	-$1.6M
Retained Earnings	-$166.4M-0.9%	-$164.9M-1.3%	-$162.8M-1.7%	-$160.1M-1.5%	-$157.8M-1.1%	-$156.1M-1.1%	-$154.4M-1.5%	-$152.2M

BCDA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$7.4M+7.4%	-$8.0M+19.5%	-$10.0M+5.6%	-$10.6M-1.9%	-$10.4M+16.1%	-$12.4M
Capital Expenditures	$7K+16.7%	$6K-50.0%	$12K-82.9%	$70K-39.7%	$116K+262.5%	$32K
Free Cash Flow	-$7.4M+7.3%	-$8.0M+19.6%	-$10.0M+6.1%	-$10.6M-1.4%	-$10.5M+15.4%	-$12.4M
Investing Cash Flow	-$7K-16.7%	-$6K+50.0%	-$12K+82.9%	-$70K+39.7%	-$116K-262.5%	-$32K
Financing Cash Flow	$7.6M-18.6%	$9.3M+149.6%	$3.7M-27.3%	$5.1M+163.1%	$1.9M-93.1%	$28.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$1.7M-1.4%	-$1.6M-1.9%	-$1.6M+37.1%	-$2.6M+1.5%	-$2.6M-99.0%	-$1.3M+14.2%	-$1.5M+17.3%	-$1.9M
Capital Expenditures	$0	N/A	N/A	$1K-50.0%	$2K-33.3%	$3K	$0	$0
Free Cash Flow	-$1.7M	N/A	N/A	-$2.6M+1.5%	-$2.6M-98.7%	-$1.3M+14.1%	-$1.5M+17.3%	-$1.9M
Investing Cash Flow	$0	N/A	N/A	-$1K+50.0%	-$2K+33.3%	-$3K	$0	$0
Financing Cash Flow	$6.0M+255.7%	$1.7M+757.7%	$196K+1206.7%	$15K-99.8%	$6.1M+242.6%	$1.8M+29.9%	$1.4M+23.0%	$1.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BCDA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	100.0%+2.8pp	97.2%
Operating Margin	N/A	-13794.8%-11353.7pp	-2441.1%-1560.8pp	-880.3%+364.1pp	-1244.3%+9465.3pp	-10709.7%
Net Margin	N/A	-13700.0%-11274.2pp	-2425.8%-1545.1pp	-880.7%+363.0pp	-1243.7%+9103.9pp	-10347.6%
Return on Equity	N/A	-949.3%	N/A	-243.4%-121.7pp	-121.7%-43.4pp	-78.2%
Return on Assets	N/A	-213.4%+174.0pp	-387.4%-265.8pp	-121.6%-41.3pp	-80.3%-16.3pp	-64.0%
Current Ratio	N/A	1.13+0.7	0.40-1.8	2.19-1.4	3.63-1.7	5.33
Debt-to-Equity	N/A	3.45+6.3	-2.86-3.9	1.00+0.5	0.52+0.3	0.22
FCF Margin	N/A	-13848.3%-11754.8pp	-2093.5%-1307.2pp	-786.3%+246.4pp	-1032.7%+7511.4pp	-8544.1%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	-54966.7%-50830.3pp	-4136.4%+11894.4pp	-16030.8%
Net Margin	N/A	N/A	N/A	N/A	N/A	-54866.7%-50744.8pp	-4121.8%+11816.6pp	-15938.5%
Return on Equity	-56.5%	N/A	N/A	N/A	-63.1%	N/A	N/A	N/A
Return on Assets	-24.1%+74.0pp	-98.1%+27.1pp	-125.2%	N/A	-27.7%+29.2pp	-57.0%+27.7pp	-84.6%-15.2pp	-69.4%
Current Ratio	1.62+1.3	0.33-0.0	0.36-0.8	1.13-0.7	1.78+1.4	0.39+0.1	0.31-0.1	0.40
Debt-to-Equity	1.34+3.4	-2.11+0.3	-2.42-5.9	3.45+2.2	1.28+3.8	-2.47-0.3	-2.18+0.7	-2.86
FCF Margin	N/A	N/A	N/A	N/A	N/A	-43833.3%-41051.5pp	-2781.8%+11456.6pp	-14238.5%

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Frequently Asked Questions

What is Biocardia Inc's annual revenue?

Biocardia Inc (BCDA) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Biocardia Inc's revenue growing?

Biocardia Inc (BCDA) revenue declined by 100% year-over-year, from $58K to $0 in fiscal year 2025.

Is Biocardia Inc profitable?

No, Biocardia Inc (BCDA) reported a net income of -$8.2M in fiscal year 2025.

What is Biocardia Inc's EBITDA?

Biocardia Inc (BCDA) had EBITDA of -$8.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Biocardia Inc's free cash flow?

Biocardia Inc (BCDA) generated -$7.4M in free cash flow during fiscal year 2025. This represents a 7.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Biocardia Inc's operating cash flow?

Biocardia Inc (BCDA) generated -$7.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Biocardia Inc's capital expenditures?

Biocardia Inc (BCDA) invested $7K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Biocardia Inc spend on research and development?

Biocardia Inc (BCDA) invested $5.0M in research and development during fiscal year 2025.

How many shares does Biocardia Inc have outstanding?

Biocardia Inc (BCDA) had 11M shares outstanding as of fiscal year 2025.

Are Biocardia Inc's earnings high quality?

Biocardia Inc (BCDA) has an earnings quality ratio of 0.90x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.