BELITE BIO, INC BLTE
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Market cap
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.31
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| R&D | $45.4M | $29.9M | $24.8M | $8.9M | $7.4M | $3.7M | — |
| SG&A | $38.8M | $10.1M | $6.8M | $4.0M | $2.4M | $2.1M | — |
| Total operating expenses | $84.2M | $40.0M | $31.7M | $12.8M | $9.8M | $5.7M | — |
| Operating income | -$84.2M | -$40.0M | -$31.7M | -$12.8M | -$9.8M | -$5.7M | — |
| Interest expense | $2.0K | $20.0K | $25.0K | $16.0K | — | $21.0K | — |
| Pre-tax income | -$77.6M | -$36.1M | -$31.6M | -$12.6M | -$9.7M | -$5.8M | — |
| Income tax | $0 | $6.0K | $9.0K | — | — | $1.0K | — |
| Net income | -$77.6M | -$36.1M | -$31.6M | -$12.6M | -$9.7M | -$5.8M | — |
| EPS, basic | -2.31 | -1.18 | -1.19 | -0.63 | -1.01 | -0.65 | — |
| EPS, diluted | -2.31 | -1.18 | -1.19 | -0.63 | -1.01 | -0.65 | — |
| Shares, diluted (wtd. avg.) | 33.5M | 30.5M | 26.6M | 20.0M | 9.6M | 8.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $352.9M | $31.7M | $88.2M | $42.1M | $17.3M | $25.6M | $2.0M |
| Short-term investments | — | $4.5M | — | — | — | — | — |
| Total current assets | $494.3M | $147.1M | $89.9M | $42.8M | $17.4M | — | — |
| Property, plant and equipment | $344.0K | $444.0K | $490.0K | $541.0K | $94.0K | — | — |
| Other intangibles | $19.0K | $31.0K | — | — | — | — | — |
| Total assets | $780.6M | $152.1M | $94.6M | $44.3M | $18.3M | — | — |
| Total current liabilities | $9.9M | $6.0M | $3.6M | $2.1M | $1.6M | — | — |
| Total liabilities | $10.1M | $6.3M | $4.2M | $2.8M | $1.6M | — | — |
| Retained earnings | -$185.3M | -$107.6M | -$71.5M | -$39.9M | -$27.2M | -$17.6M | — |
| Total equity | $770.5M | $145.8M | $90.4M | $41.5M | -$15.1M | -$7.0M | -$3.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$37.0M | -$29.2M | -$29.8M | -$11.5M | -$7.5M | -$4.4M | — |
| Depreciation and amortisation | $172.0K | $164.0K | $139.0K | $64.0K | $30.0K | $17.0K | — |
| Stock-based compensation | $38.9M | $9.0M | $3.8M | $1.5M | $1.5M | $1.4M | — |
| Capital expenditure | $71.0K | $116.0K | $63.0K | $394.0K | $74.0K | — | — |
| Investing cash flow | -$305.1M | -$110.6M | -$63.0K | -$394.0K | -$56.0K | -$20.0K | — |
| Financing cash flow | $663.2M | $83.6M | $76.0M | $37.0M | -$583.0K | $28.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-037374.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$5.8M | -$9.7M | -$12.6M | -$31.6M | -$36.1M | -$77.6M |
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