BETTER THERAPEUTICS INC Financials
This page shows BETTER THERAPEUTICS INC (BTTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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
BETTER THERAPEUTICS INC passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, BETTER THERAPEUTICS INC generates $0.73 in operating cash flow (-$28.9M OCF vs -$39.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
BETTER THERAPEUTICS INC earns $-25.7 in operating income for every $1 of interest expense (-$38.3M vs $1.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
BETTER THERAPEUTICS INC's EBITDA was -$35.5M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 22.8% from the prior year.
BETTER THERAPEUTICS INC reported -$39.8M in net income in fiscal year 2022. This represents an increase of 1.4% from the prior year.
BETTER THERAPEUTICS INC earned $-1.69 per diluted share (EPS) in fiscal year 2022. This represents an increase of 45.7% from the prior year.
Cash & Balance Sheet
BETTER THERAPEUTICS INC generated -$29.0M in free cash flow in fiscal year 2022, representing cash available after capex. This represents an increase of 6.0% from the prior year.
BETTER THERAPEUTICS INC held $15.7M in cash against $10.3M in long-term debt as of fiscal year 2022.
BETTER THERAPEUTICS INC had 24M shares outstanding in fiscal year 2022. This represents an increase of 1.1% from the prior year.
Margins & Returns
Capital Allocation
BETTER THERAPEUTICS INC invested $16.4M in research and development in fiscal year 2022. This represents a decrease of 15.4% from the prior year.
BETTER THERAPEUTICS INC invested $106K in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents an increase of 92.7% from the prior year.
BTTX Income Statement
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | $1.8M-18.2% | $2.2M-33.9% | $3.4M | N/A | $5.5M+29.1% | $4.2M+15.5% | $3.7M | N/A |
| SG&A Expenses | $2.1M-31.3% | $3.1M-10.2% | $3.4M | N/A | $4.0M+7.8% | $3.7M+1.3% | $3.6M | N/A |
| Operating Income | -$5.3M+24.0% | -$7.0M+21.3% | -$8.9M | N/A | -$11.0M-14.6% | -$9.6M-2.7% | -$9.3M | N/A |
| Interest Expense | $518K-8.0% | $563K+30.6% | $431K | N/A | $406K+23.4% | $329K+3.8% | $317K | N/A |
| Income Tax | $3K+200.0% | $1K0.0% | $1K | N/A | $3K | N/A | N/A | N/A |
| Net Income | -$5.9M+22.8% | -$7.6M+18.9% | -$9.4M | N/A | -$11.4M-14.9% | -$9.9M-2.8% | -$9.7M | N/A |
| EPS (Diluted) | $-0.15+37.5% | $-0.24+38.5% | $-0.39 | N/A | $-0.48-14.3% | $-0.42-2.4% | $-0.41 | N/A |
BTTX Balance Sheet
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.7M-7.6% | $11.6M-9.4% | $12.8M-44.2% | $22.9M-18.7% | $28.2M-23.9% | $37.1M-7.9% | $40.3M-20.9% | $51.0M |
| Current Assets | $7.3M-1.0% | $7.4M-12.1% | $8.4M-54.2% | $18.4M-21.5% | $23.5M-26.9% | $32.1M-8.6% | $35.2M-22.3% | $45.3M |
| Cash & Equivalents | $6.6M+6.5% | $6.2M+2.1% | $6.1M-61.4% | $15.7M-29.4% | $22.3M-24.9% | $29.7M-6.3% | $31.7M-21.9% | $40.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $20.7M-7.7% | $22.4M-1.1% | $22.6M-5.0% | $23.8M+13.7% | $21.0M+10.1% | $19.0M+48.1% | $12.9M-9.6% | $14.2M |
| Current Liabilities | $12.9M-6.7% | $13.9M+1.7% | $13.6M+1.1% | $13.5M+44.9% | $9.3M+51.6% | $6.1M+72.2% | $3.6M-24.6% | $4.7M |
| Long-Term Debt | $7.7M-9.4% | $8.5M-5.4% | $9.0M-13.0% | $10.3M-11.2% | $11.7M-9.7% | $12.9M+38.8% | $9.3M-2.2% | $9.5M |
| Total Equity | -$9.9M+7.9% | -$10.8M-9.7% | -$9.8M-993.8% | -$899K-112.4% | $7.3M-59.8% | $18.1M-34.2% | $27.4M-25.3% | $36.7M |
| Retained Earnings | -$134.3M-4.6% | -$128.4M-6.3% | -$120.9M-8.4% | -$111.5M-8.5% | -$102.7M-12.5% | -$91.3M-12.2% | -$81.4M-13.5% | -$71.7M |
BTTX Cash Flow Statement
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.9M-198000.0% | -$3K+100.0% | -$13.8M-117.8% | -$6.3M+9.6% | -$7.0M-4.3% | -$6.7M+24.0% | -$8.9M+44.1% | -$15.9M |
| Capital Expenditures | $5K | $0-100.0% | $26K+85.7% | $14K-39.1% | $23K-23.3% | $30K-23.1% | $39K+5.4% | $37K |
| Free Cash Flow | -$5.9M-198166.7% | -$3K+100.0% | -$13.8M-117.7% | -$6.4M+9.7% | -$7.0M-4.1% | -$6.8M+24.0% | -$8.9M+44.0% | -$15.9M |
| Investing Cash Flow | $66K+113.1% | -$503K+3.5% | -$521K-44.7% | -$360K+3.7% | -$374K+8.1% | -$407K-943.6% | -$39K+91.7% | -$472K |
| Financing Cash Flow | $6.3M+9.8% | $5.7M+1414.5% | -$435K-429.5% | $132K+2100.0% | $6K-99.9% | $5.1M+514400.0% | $1K-100.0% | $53.7M |
| 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 |
BTTX Financial Ratios
| Metric | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | -157.3%-102.3pp | -55.0%-19.8pp | -35.2% | N/A |
| Return on Assets | -54.7%+10.7pp | -65.4%+7.7pp | -73.1% | N/A | -40.4%-13.7pp | -26.8%-2.8pp | -24.0% | N/A |
| Current Ratio | 0.57+0.0 | 0.54-0.1 | 0.62-0.7 | 1.37-1.2 | 2.52-2.7 | 5.23-4.6 | 9.86+0.3 | 9.56 |
| Debt-to-Equity | -0.78+0.0 | -0.79+0.1 | -0.92+10.6 | -11.51-13.1 | 1.61+0.9 | 0.71+0.4 | 0.34+0.1 | 0.26 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$899K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
Is BETTER THERAPEUTICS INC profitable?
No, BETTER THERAPEUTICS INC (BTTX) reported a net income of -$39.8M in fiscal year 2022.
What is BETTER THERAPEUTICS INC's EBITDA?
BETTER THERAPEUTICS INC (BTTX) had EBITDA of -$35.5M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does BETTER THERAPEUTICS INC have?
As of fiscal year 2022, BETTER THERAPEUTICS INC (BTTX) had $15.7M in cash and equivalents against $10.3M in long-term debt.
What is BETTER THERAPEUTICS INC's free cash flow?
BETTER THERAPEUTICS INC (BTTX) generated -$29.0M in free cash flow during fiscal year 2022. This represents a 6.0% 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 BETTER THERAPEUTICS INC's operating cash flow?
BETTER THERAPEUTICS INC (BTTX) generated -$28.9M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.
What are BETTER THERAPEUTICS INC's total assets?
BETTER THERAPEUTICS INC (BTTX) had $22.9M in total assets as of fiscal year 2022, including both current and long-term assets.
What are BETTER THERAPEUTICS INC's capital expenditures?
BETTER THERAPEUTICS INC (BTTX) invested $106K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.
How much does BETTER THERAPEUTICS INC spend on research and development?
BETTER THERAPEUTICS INC (BTTX) invested $16.4M in research and development during fiscal year 2022.
What is BETTER THERAPEUTICS INC's current ratio?
BETTER THERAPEUTICS INC (BTTX) had a current ratio of 1.37 as of fiscal year 2022, which is considered adequate.
What is BETTER THERAPEUTICS INC's debt-to-equity ratio?
BETTER THERAPEUTICS INC (BTTX) had a debt-to-equity ratio of -11.51 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BETTER THERAPEUTICS INC's return on assets (ROA)?
BETTER THERAPEUTICS INC (BTTX) had a return on assets of -173.3% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.
What is BETTER THERAPEUTICS INC's cash runway?
Based on fiscal year 2022 data, BETTER THERAPEUTICS INC (BTTX) had $15.7M in cash against an annual operating cash burn of $28.9M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is BETTER THERAPEUTICS INC's debt-to-equity ratio negative or unusual?
BETTER THERAPEUTICS INC (BTTX) has negative shareholder equity of -$899K as of fiscal year 2022, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is BETTER THERAPEUTICS INC's Piotroski F-Score?
BETTER THERAPEUTICS INC (BTTX) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are BETTER THERAPEUTICS INC's earnings high quality?
BETTER THERAPEUTICS INC (BTTX) has an earnings quality ratio of 0.73x, 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.
Can BETTER THERAPEUTICS INC cover its interest payments?
BETTER THERAPEUTICS INC (BTTX) has an interest coverage ratio of -25.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.