BioRestorative Therapies, Inc. BRTX
used in this Annual Report on Form 10-K, or the Annual Report, references to the "Company", "we", "us",
or "our" refer to BioRestorative Therapies, Inc.
"BioRestorative Therapies, Inc." Effective January 1, 2015, we reincorporated in Delaware. Effective December 31, 2022, we
reincorporated in Nevada.
Last close
1.62
2026-10-23
Market cap
$41.3M
2026-03-31 share count
52-week range
0.14 - 3.23
Valuation FY2025 figures against the last close
P/S114.7x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.58
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $359.7K | $401.0K | $145.8K | $119.8K | $46.0K | $77.0K | $130.0K | $111.0K | $81.0K | $36.4K |
| Cost of revenue | $23.8K | $28.1K | — | — | — | — | — | — | — | $102 |
| Gross profit | $335.9K | $372.9K | $145.8K | — | — | — | — | — | $81.0K | $36.3K |
| R&D | $10.1M | $6.7M | $4.0M | $3.5M | $729.1K | $876.8K | $1.7M | $1.5M | $2.2M | $2.9M |
| SG&A | $5.9M | $5.2M | $11.3M | $15.6M | $25.6M | $1.8M | $4.6M | $4.0M | $3.9M | $3.2M |
| Total operating expenses | $16.0M | $11.9M | $15.4M | $19.1M | $26.4M | $2.8M | $8.6M | $7.8M | $8.5M | $7.8M |
| Operating income | -$15.6M | -$11.6M | -$15.2M | -$19.0M | -$26.3M | -$2.8M | -$8.4M | -$7.6M | -$8.4M | -$7.8M |
| Interest expense | $266.2K | $616.1K | $552.3K | $11.7K | $1.8M | — | — | — | — | — |
| Pre-tax income | -$14.2M | -$9.0M | — | — | — | — | — | — | -$9.4M | -$8.6M |
| Net income | -$14.2M | -$9.0M | -$10.4M | -$13.2M | -$44.3M | -$11.3M | -$14.6M | -$12.5M | -$9.4M | -$8.6M |
| EPS, basic | -1.58 | -1.16 | -2.47 | -3.65 | -37.30 | — | — | — | — | — |
| EPS, diluted | -1.58 | -1.16 | -2.47 | -3.65 | -37.30 | -28.56 | -0.66 | -1.64 | -1.74 | -2.10 |
| Shares, diluted (wtd. avg.) | 9.0M | 7.8M | 4.2M | 3.6M | 1.2M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.5M | $547.9K | $884.4K | $1.7M | $21.0M | — | — | — | — | — |
| Short-term investments | $1.4M | $10.2M | $10.2M | $13.0M | — | — | — | — | — | — |
| Receivables | $15.5K | $188.4K | $19.3K | $16.0K | $5.0K | $17.0K | $32.0K | $29.0K | $38.0K | $6.0K |
| Total current assets | $3.1M | $11.1M | $11.4M | $15.1M | $21.5M | $3.2M | $68.9K | $181.0K | $519.7K | $73.4K |
| Property, plant and equipment | $358.8K | $362.9K | $356.1K | $261.0K | $38.0K | $21.9K | $68.4K | $175.2K | $327.8K | $508.6K |
| Other intangibles | $534.2K | $623.9K | $713.7K | $803.4K | $589.7K | $664.3K | $739.2K | $814.1K | $889.0K | $963.8K |
| Total assets | $4.1M | $12.3M | $12.6M | $16.4M | $22.5M | $4.3M | $1.5M | $1.2M | $1.8M | $1.6M |
| Accounts payable | $1.3M | $483.1K | $189.4K | $170.9K | $50.8K | $118.9K | $2.0M | $1.9M | $2.5M | $2.3M |
| Total current liabilities | $3.7M | $3.7M | $2.6M | $7.1M | $14.7M | $1.0M | $13.7M | $9.3M | $8.4M | $5.8M |
| Long-term debt | — | — | — | — | $250.0K | — | — | — | — | — |
| Total liabilities | — | $3.7M | $2.6M | $7.3M | $15.0M | $5.7M | $14.2M | $9.8M | $8.6M | $6.6M |
| Retained earnings | -$169.9M | -$155.7M | -$146.7M | -$128.2M | -$131.3M | -$89.8M | -$78.6M | -$63.9M | -$51.4M | -$42.0M |
| Total equity | $356.7K | $8.5M | $10.0M | $10.3M | $10.8M | -$1.3M | -$12.8M | -$8.6M | -$6.8M | -$5.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.8M | -$8.2M | -$6.4M | -$5.9M | -$3.3M | -$2.0M | -$6.9M | -$5.1M | -$3.9M | -$5.0M |
| Depreciation and amortisation | $120.2K | $99.3K | $76.0K | $42.2K | $89.1K | $121.4K | $217.4K | $240.4K | $259.3K | $258.4K |
| Stock-based compensation | $3.3M | $2.8M | $7.8M | $12.6M | $23.1M | $691.7K | $1.7M | $2.4M | $3.6M | $2.5M |
| Capital expenditure | $116.1K | $106.2K | $171.0K | $265.2K | $30.7K | — | $35.6K | $12.9K | $3.6K | $188.8K |
| Investing cash flow | $8.9M | $514.5K | $3.3M | -$13.4M | -$30.7K | — | -$35.6K | -$12.9K | -$3.6K | -$188.8K |
| Financing cash flow | $2.9M | $7.4M | $2.3M | — | $21.3M | $5.0M | $6.8M | $4.8M | $4.3M | $5.1M |
| Buybacks | $0 | — | — | — | — | — | — | — | — | — |
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 0001493152-26-012925.
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 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.4K | $81.0K | $111.0K | $130.0K | $77.0K | $46.0K | $119.8K | $145.8K | $401.0K | $359.7K |
| Gross profit | $36.3K | $81.0K | — | — | — | — | — | $145.8K | $372.9K | $335.9K |
| Net income | -$8.6M | -$9.4M | -$12.5M | -$14.6M | -$11.3M | -$44.3M | -$13.2M | -$10.4M | -$9.0M | -$14.2M |
Recent filings and events
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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