10-K · March 26, 2026
BioRestorative Therapies (BRTX) is a small regenerative-medicine company focused on its Disc/Spine program (lead candidate BRTX-100), a preclinical ThermoStem metabolic program, and a commercial bio-cosmeceuticals…
Earnings analysis · 10-Q
BRTX earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
BioRestorative Therapies (BRTX) reported declining revenues of $23,170 for Q1 2026, down 7% from $25,000 in Q1 2025, while EPS improved to -0.32 from -0.64 in the prior quarter. Notable reductions in operating expenses…
Read full summary
BioRestorative Therapies (BRTX) reported declining revenues of $23,170 for Q1 2026, down 7% from $25,000 in Q1 2025, while EPS improved to -0.32 from -0.64 in the prior quarter. Notable reductions in operating expenses led to a significant decrease in net loss, which narrowed to $2.15 million from $5.34 million in the same period last year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.32
- Gross margin
- 68.0%
What stood out
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Improved EPS Performance
Diluted EPS improved to -0.32 in Q1 2026, up from -0.64 in Q4 2025.
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Reduced Operating Expenses
Total operating expenses decreased by 29.5% YoY, from $4,829,625 in Q1 2025 to $3,401,518 in Q1 2026.
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Working Capital Improvement
Working capital increased to $2,185,071 from a deficiency of $586,029 at December 31, 2025.
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Increased Cash Reserves
Cash and cash equivalents rose to $3,112,679, up from $1,511,188 at year-end 2025.
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Revenue from Product Sales
Product revenue reached $11,870 in Q1 2026, a new revenue stream compared to $0 in Q1 2025.
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Cost of Goods Sold Change
Cost of goods sold increased to $7,385 compared to $2,909 in Q1 2025.
What to watch
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Ongoing Cash Burn
Net cash used in operating activities increased to $3,807,792 in Q1 2026 from $2,778,786 in Q1 2025.
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Compliance with Nasdaq Requirements
Received a Nasdaq notification for non-compliance with minimum bid price requirements as of March 26, 2026.
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Funding Challenges Going Forward
Management indicates uncertainty about future capital needs amid anticipated continued net losses.
Management's outlook
Outlook defers to future earnings press release, with ongoing losses expected.
Earlier filings 4
10-Q · November 12, 2025
BioRestorative (BRTX) reported Q3 2025 revenue of $11,800 (down from $233,600 YoY and $303,300 in prior quarter), producing a small gross profit of $1,230 and a reported loss per share of $(0.33). Liquidity remains…
10-Q · August 12, 2025
BioRestorative Therapies reported Q2 revenue of $303,300 (Q2 2024: $89,100), driven by product sales of $300,000, and delivered EPS of $(0.30) (Q2 2024: $(0.50)), beating consensus. Gross margin expanded to 97.1% while…
10-K · March 28, 2025
BioRestorative Therapies (BRTX) is an early-stage regenerative medicine company focused on its BRTX-100 Disc/Spine Phase 2 program (FDA-authorized and Fast Track) and pre-clinical ThermoStem metabolic program, alongside…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.