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Financials · BCYC

Bicycle Therapeutics plc (BCYC) financials

For the twelve months ended Sep 30, 2026, Bicycle Therapeutics plc reported $83.53M of revenue and -$141.79M of net income.

Revenue, TTM
$83.53M
Revenue growth, YoY
+194.7%
Net income, TTM
-$141.79M
Net margin
-169.8%
Free cash flow, TTM
-$177.04M
EPS, diluted, TTM
-$2.03
Cash
$469.93M
P/S
3.10
Market cap
$258.6M
Annual revenue$72.59M
FY2017FY2025
Annual net income-$218.96M
FY2017FY2025
Annual free cash flow-$252.03M
FY2017FY2025

BCYC revenue and earnings growth

BCYC revenueQ3 2026$34.06M

Quarter YoY
+190.2%
QoQ
54x
FY YoY
+105.8%
5Y CAGR
+47.5%

BCYC revenue was $34.06M in fiscal Q3 2026 (ended Sep 30, 2026), up 190.2% from a year earlier and up about 54-fold from the prior quarter. For the full fiscal 2025 it was $72.59M, up 105.8% from fiscal 2024. Compound annual growth was +47.5% over 5 years. It rose in 7 of the last 8 fiscal years. Fiscal 2025 is the highest of the 9 fiscal years on file.

BCYC net incomeQ3 2026-$10.48M

BCYC net income was -$10.48M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$59.10M a year earlier. For the full fiscal 2025 it was -$218.96M, compared with -$169.03M in fiscal 2024.

BCYC EPSQ3 2026-$0.15

BCYC diluted EPS was -$0.15 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.85 a year earlier. For the full fiscal 2025 it was -$3.16, compared with -$2.90 in fiscal 2024.

BCYC free cash flowQ3 2026-$40.61M

BCYC free cash flow was -$40.61M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$71.85M a year earlier. For the full fiscal 2025 it was -$252.03M, compared with -$165.96M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue$72.59M$35.27M$26.98M$14.46M$11.70M$10.39M$13.80M$7.14M$2.06M
Research and development$240.28M$172.97M$156.50M$81.61M$44.88M$33.15M$25.54M$20.76M$11.87M
Selling, general and admin$79.37M$72.18M$60.43M$49.51M$32.44M$29.20M$14.56M$8.12M$6.41M
Operating income-$247.06M-$209.87M-$189.95M-$116.65M-$65.62M-$51.96M-$26.30M-$21.75M-$16.21M
Interest expense$206.0K$1.73M$3.26M$3.34M$2.98M$457.0K---
Pre-tax income-$218.81M-$173.80M-$179.21M-$114.24M-$68.48M-$51.73M-$30.86M-$22.24M-$16.28M
Income tax$152.0K-$4.76M$1.46M-$1.52M-$1.66M-$724.0K-$254.0K-$396.0K-$23.0K
Net income-$218.96M-$169.03M-$180.66M-$112.72M-$66.82M-$51.01M-$30.61M-$21.85M-$16.26M
EPS, basic-$3.16-$2.90-$5.08-$3.80-$2.67-$2.66-$2.77-$49.78-$48.81
EPS, diluted-$3.16-$2.90-$5.08-$3.80-$2.67-$2.66-$2.77-$49.78-$48.81
Diluted shares69.3M58.2M35.6M29.7M25.1M19.1M11.0M438,862333,125

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Cash and equivalents$628.11M$880.07M$526.42M$339.15M$438.68M$135.99M$92.12M$63.38M$67.66M
Receivables$0$0$0$2.04M$1.00M$5.46M$201.0K$5.02M-
Current assets$682.88M$928.61M$561.87M$369.38M$458.56M$155.72M$104.15M$76.77M-
Total assets$717.60M$956.87M$595.34M$410.61M$479.79M$161.15M$110.19M$81.63M-
Current liabilities$56.98M$67.23M$69.54M$53.34M$36.24M$23.13M$8.82M$8.93M-
Long-term debt--$30.70M$30.32M$29.87M$14.51M---
Total debt--$30.70M$30.32M$29.87M$14.51M---
Total liabilities$107.62M$163.81M$224.41M$139.83M$133.54M$65.69M$17.00M$29.25M-
Shareholders' equity$609.98M$793.06M$370.93M$270.78M$346.25M$95.46M$93.20M-$69.83M-$47.18M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Operating cash flow-$249.68M-$164.72M-$60.63M-$86.11M-$14.79M-$17.79M-$28.61M-$26.08M-$1.42M
Capital expenditures$2.35M$1.24M$2.93M$18.99M$2.03M$1.20M$1.55M$1.19M$1.11M
Free cash flow-$252.03M-$165.96M-$63.56M-$105.10M-$16.82M-$18.99M-$30.17M-$27.26M-$2.53M
Investing cash flow-$2.35M-$1.24M-$2.93M-$18.99M-$2.03M-$1.20M-$1.55M-$1.19M-$1.11M
Financing cash flow-$131.0K$519.75M$250.03M$6.69M$320.73M$62.84M$58.44M$25.43M$57.88M
Stock-based compensation$39.46M$38.08M$32.48M$26.78M$12.08M$6.51M$3.08M$1.02M$515.0K
Depreciation and amortization$6.42M$7.17M$6.55M$3.69M$1.41M$1.28M$960.0K$712.0K$332.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue growth, YoY105.8%30.8%86.5%23.6%12.6%-24.7%93.4%246.4%-
Operating margin-340.4%-595.0%-704.1%-806.6%-561.0%-500.1%-190.6%-304.7%-787.0%
Net margin-301.7%-479.2%-669.7%-779.3%-571.2%-491.0%-221.8%-306.1%-789.3%
Free cash flow margin-347.2%-470.5%-235.6%-726.7%-143.8%-182.8%-218.6%-382.1%-122.7%
Return on equity-35.9%-21.3%-48.7%-41.6%-19.3%-53.4%-32.8%--
Return on assets-30.5%-17.7%-30.3%-27.5%-13.9%-31.7%-27.8%-26.8%-
Current ratio11.9813.818.086.9212.656.7311.818.60-
Debt to equity--0.080.110.090.15---

Source: XBRL data Bicycle Therapeutics plc files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

BCYC peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
BCYC$83.53M+194.7%-$141.79M-169.8%$258.6M
STRO$45.70M-56.3%-$180.64M-395.2%$168.6M
IOVA$378.98M+51.3%-$220.53M-58.2%$3.74B
ADCT$84.87M+12.8%-$81.25M-95.7%$192.2M
ZYME$265.97M+97.8%$43.31M16.3%$2.22B
RVMD$0--$1.13B-$41.76B

BCYC FAQ

8 questions
  • What is BCYC revenue?
    Bicycle Therapeutics plc (BCYC) reported $83.53M of revenue for the twelve months ended Sep 30, 2026. That is up 194.7% from the year before. Revenue for fiscal 2025 was $72.59M.
  • Is BCYC profitable?
    No. Bicycle Therapeutics plc reported a net loss of $141.79M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does BCYC have?
    Bicycle Therapeutics plc reported $469.93M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is BCYC revenue growing?
    Bicycle Therapeutics plc's revenue changed +105.8% in fiscal 2025, to $72.59M. Its compound annual growth rate was +47.5% over 5 years.
  • What is BCYC free cash flow?
    Bicycle Therapeutics plc generated -$177.04M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$175.18M less capital expenditures.
  • What is BCYC earnings per share?
    Diluted earnings per share were -$2.03 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did BCYC last report financial results?
    The latest statements here come from Bicycle Therapeutics plc's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this BCYC financial data come from?
    Quantisnow builds these statements from the structured XBRL data Bicycle Therapeutics plc files with the SEC. It is provided for information only and is not investment advice.