BRTX earnings analysis
What we found in BRTX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Improved EPS Performance
- Diluted EPS improved to -0.32 in Q1 2026, up from -0.64 in Q4 2025.
- 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.
- Working Capital Improvement
- Working capital increased to $2,185,071 from a deficiency of $586,029 at December 31, 2025.
- Increased Cash Reserves
- Cash and cash equivalents rose to $3,112,679, up from $1,511,188 at year-end 2025.
- Revenue from Product Sales
- Product revenue reached $11,870 in Q1 2026, a new revenue stream compared to $0 in Q1 2025.
- Cost of Goods Sold Change
- Cost of goods sold increased to $7,385 compared to $2,909 in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Cash Burn
- Net cash used in operating activities increased to $3,807,792 in Q1 2026 from $2,778,786 in Q1 2025.
- Compliance with Nasdaq Requirements
- Received a Nasdaq notification for non-compliance with minimum bid price requirements as of March 26, 2026.
- Funding Challenges Going Forward
- Management indicates uncertainty about future capital needs amid anticipated continued net losses.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.32
- Gross margin
- 68.0%
- Segment
- Royalty Revenue: $11,300
- Segment
- Product Revenue: $11,870
What they said about what is next.
Outlook defers to future earnings press release, with ongoing losses expected.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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