BBNX · Beta Bionics, Inc.

Beta Bionics delivered strong Q2 2026 results, with net sales reaching $32.0 million, a 38% increase year-over-year, fueled by exceptional momentum in the Pharmacy Benefit Plan (PBP) channel, which surged 153% to $11.6 million. Durable Medical Equipment (DME) channel sales grew a more modest 9% to $20.4 million. Gross margin expanded 524 basis points to 59.0%, reflecting improved product mix and operational efficiencies. Operating loss widened to $25.6 million from $19.9 million, driven by increased sales and marketing investments to support commercial expansion. Adjusted EBITDA loss improved as a percentage of sales to -55% from -63% a year ago. The company's balance sheet remains robust with $225.2 million in cash and investments. Management reiterated full-year revenue guidance of $131–136 million and raised gross margin expectations to 58.5%–59.5%, signaling confidence in sustained profitability improvements. Strategically, Beta Bionics initiated a pivotal trial for the iLet system in type 2 diabetes and expects to expand indications by mid-2027. The Mint patch pump commercialization is targeted for Q2 2027. These developments, combined with strong core performance, position the company for continued growth in the diabetes management market.