Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Caution evidenceCoverage 4/5 core metricsLatest reported annual revenue changed -10.3% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -10.3% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin compressed
Operating margin changed -1468.5 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was negative
Latest reported free cash flow was -$11M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
- 6 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-10-21
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Product$300K83.4%0.0% yoy
- Royalty$59.7K16.6%-40.9% yoy
Members sum to the consolidated $360K for this period.
- Product$11.9K51.2%no prior
- Royalty$11.3K48.8%-54.8% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,060 US-listed filers · 314 in Healthcare| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $359700 | 2ndof 3,247 bottom third | 3rdof 285 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -10.3% | 12thof 3,083 bottom third | 10thof 270 bottom third |
Gross margin gross profit ÷ revenue | 93.4% | 98thof 1,585 top third | 99thof 206 top third |
Operating margin operating income ÷ revenue | -4350.1% | 3rdof 2,777 bottom third | 4thof 274 bottom third |
Net margin net income ÷ revenue | -3959.4% | 3rdof 3,212 bottom third | 3rdof 284 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -3031.7% | 3rdof 2,640 bottom third | 3rdof 256 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -3992.2% | 0thof 3,520 bottom third | 1stof 286 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 924.6% | 2ndof 2,852 bottom third | 2ndof 270 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 16 days | 85thof 2,373 top third | 96thof 259 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -42.2% | 95thof 3,845 top third | 95thof 299 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 33 changed periods, 30 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Stock-based compensation ShareBasedCompensation | quarter 2022-03-31 | $72.8K 10-Q 2022-05-16 | $3.38M 10-Q 2023-05-12 | +4536.0% | first · latest |
| Total liabilities Liabilities | balance at 2022-03-31 | $762K 10-Q 2022-05-16 | $15M 10-K/A 2024-06-11 | +1863.8% | first · latest |
| Total liabilities Liabilities | balance at 2023-03-31 | $594K 10-Q 2023-05-12 | $7.62M 10-K/A 2024-06-11 | +1183.7% | first · latest |
| Total liabilities Liabilities | balance at 2023-06-30 | $896K 10-Q 2023-08-11 | $10.7M 10-K/A 2024-06-11 | +1088.6% | first · latest |
| Total liabilities Liabilities | balance at 2022-12-31 | $603K 10-K 2023-03-27 | $6.14M 10-K/A 2024-06-11 | +919.6% | first · latest · 6 filings carry it |
| Total liabilities Liabilities | balance at 2022-09-30 | $916K 10-Q 2022-11-14 | $8.14M 10-K/A 2024-06-11 | +788.4% | first · latest |
| Total liabilities Liabilities | balance at 2022-06-30 | $856K 10-Q 2022-08-15 | $7.29M 10-K/A 2024-06-11 | +751.3% | first · latest |
| Net income NetIncomeLoss | quarter 2023-09-30 | -$2.93M 10-Q 2023-11-13 | $4.77M 10-Q 2024-11-12 | +263.0% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2023-09-30 | $975K 10-Q 2023-11-13 | $3.04M 10-K/A 2024-06-11 | +211.8% | first · latest |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-09-30 | 4,570,843 shares 10-Q 2023-11-13 | 12,324,766 shares 10-Q 2024-11-12 | +169.6% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2022-06-30 | -$4.68M 10-Q 2022-08-15 | $3.1M 10-K/A 2024-06-11 | +166.3% | first · latest · 5 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2022-06-30 | 3,638,383 shares 10-Q 2022-08-15 | 9,457,028 shares 10-K/A 2024-06-11 | +159.9% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2023-12-31 | $1.06M 10-K 2024-04-01 | $2.61M 10-K 2025-03-28 | +145.2% | first · latest · 6 filings carry it |
| Net income NetIncomeLoss | quarter 2023-06-30 | -$2.98M 10-Q 2023-08-11 | -$5.71M 10-Q 2024-11-12 | -91.6% | first · latest · 5 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-06-30 | $12.4M 10-Q 2023-08-11 | $2.64M 10-Q 2024-11-12 | -78.7% | first · latest · 5 filings carry it |
| Equity issued ProceedsFromIssuanceOfCommonStock | fiscal year 2023-12-31 | $1.85M 10-K 2024-04-01 | $495K 10-K 2025-03-28 | -73.3% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-03-31 | $20.2M 10-Q 2022-05-16 | $5.95M 10-K/A 2024-06-11 | -70.5% | first · latest · 7 filings carry it |
| Net income NetIncomeLoss | quarter 2022-03-31 | -$4.82M 10-Q 2022-05-16 | -$8.21M 10-K/A 2024-06-11 | -70.4% | first · latest · 7 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-03-31 | $13.5M 10-Q 2023-05-12 | $6.46M 10-Q 2024-11-12 | -52.1% | first · latest · 7 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-12-31 | $21.6M 10-K 2022-03-30 | $10.8M 10-K/A 2024-06-11 | -50.1% | first · latest · 10 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-09-30 | $17M 10-Q 2022-11-14 | $9.78M 10-K/A 2024-06-11 | -42.5% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-12-31 | $15.8M 10-K 2023-03-27 | $10.3M 10-K 2025-03-28 | -35.0% | first · latest · 10 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-06-30 | $18.6M 10-Q 2022-08-15 | $12.2M 10-K/A 2024-06-11 | -34.6% | first · latest · 5 filings carry it |
| Net income NetIncomeLoss | fiscal year 2022-12-31 | -$18.5M 10-K 2023-03-27 | -$13.2M 10-K/A 2024-06-11 | +28.5% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2023-12-31 | -$14.4M 10-K 2024-04-01 | -$10.4M 10-K 2025-03-28 | +27.7% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2023-03-31 | -$5.68M 10-Q 2023-05-12 | -$7.17M 10-Q 2024-11-12 | -26.2% | first · latest · 7 filings carry it |
| Net income NetIncomeLoss | quarter 2022-09-30 | -$4.66M 10-Q 2022-11-14 | -$5.45M 10-K/A 2024-06-11 | -17.0% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-09-30 | $12.8M 10-Q 2023-11-13 | $10.8M 10-Q 2024-11-12 | -16.1% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-12-31 | $11.5M 10-K 2024-04-01 | $10M 10-K 2026-03-26 | -13.4% | first · latest · 10 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2022-12-31 | $1.68M 10-K 2023-03-27 | $1.71M 10-K/A 2024-06-11 | +2.2% | first · latest · 6 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding; share counts re-presented by an integer split ratio are listed as split adjustments, not restatements. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for BRTX yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.