Burning Rock Reports Second Quarter 2025 Financial Results
Burning Rock Biotech (NASDAQ: BNR), a precision oncology NGS technology company, reported its Q2 2025 financial results with total revenues of RMB148.5 million (US$20.7 million), representing a 9.6% year-over-year increase.
The company's performance showed mixed results across segments: in-hospital business grew 4.4% to RMB62.5 million, central laboratory business declined 16.2% to RMB40.9 million, while pharma R&D services surged 68.1% to RMB45.2 million. Gross margin improved to 72.8% from 70.4% year-over-year.
Operating expenses decreased significantly by 42.1% to RMB119.6 million due to budget control measures and headcount reduction. The company narrowed its net loss to RMB9.7 million from RMB108.0 million in the previous year.
Burning Rock Biotech (NASDAQ: BNR), azienda specializzata in tecnologie NGS per l'oncologia di precisione, ha comunicato i risultati finanziari del secondo trimestre 2025 con ricavi totali di RMB148,5 milioni (US$20,7 milioni), in aumento del 9,6% su base annua.
La performance per segmento 猫 stata eterogenea: l'attivit脿 in ospedale 猫 salita del 4,4% a RMB62,5 milioni, il laboratorio centrale 猫 calato del 16,2% a RMB40,9 milioni, mentre i servizi R&D per l'industria farmaceutica sono aumentati del 68,1% a RMB45,2 milioni. Il margine lordo 猫 migliorato, passando dal 70,4% al 72,8% anno su anno.
Le spese operative sono diminuite significativamente, -42,1% a RMB119,6 milioni, grazie a controlli di bilancio e riduzione del personale. La perdita netta si 猫 ridotta a RMB9,7 milioni rispetto a RMB108,0 milioni dell'anno precedente.
Burning Rock Biotech (NASDAQ: BNR), una empresa de tecnolog铆a NGS para oncolog铆a de precisi贸n, inform贸 sus resultados financieros del segundo trimestre de 2025 con ingresos totales de RMB148,5 millones (US$20,7 millones), lo que representa un aumento interanual del 9,6%.
El desempe帽o por segmentos fue mixto: el negocio hospitalario creci贸 4,4% hasta RMB62,5 millones, el laboratorio central descendi贸 16,2% hasta RMB40,9 millones, mientras que los servicios de I+D para la industria farmac茅utica se dispararon 68,1% hasta RMB45,2 millones. El margen bruto mejor贸 hasta el 72,8% desde el 70,4% interanual.
Los gastos operativos se redujeron significativamente, -42,1% hasta RMB119,6 millones, gracias a medidas de control presupuestario y reducci贸n de personal. La p茅rdida neta se estrech贸 a RMB9,7 millones desde RMB108,0 millones del a帽o anterior.
Burning Rock Biotech (NASDAQ: BNR), 鞝曤皜 膦呾枒頃� NGS 旮办垹 旮办梾鞚� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 齑濍Г於滌潃 RMB148.5氚彪(氙疙檾 2,070毵� 雼煬)鞙茧 鞝勲厔 霃欔赴 雽�牍� 9.6% 歃濌皜頄堨姷雼堧嫟.
攵�氍鸽硠 鞁れ爜鞚� 鞐囮皥霠胳姷雼堧嫟: 氤戩洂 雮� 靷梾鞚� 4.4% 歃濌皜頃� RMB62.5氚彪, 欷戩暀瓴�靷嫟 靷梾鞚� 16.2% 臧愳唽頃� RMB40.9氚彪, 氚橂┐ 鞝滌暯 鞐瓣惮臧滊皽 靹滊箘鞀る姅 68.1% 旮夓頃� RMB45.2氚彪鞚� 旮半頄堨姷雼堧嫟. 毵れ稖齑濎澊鞚惦鞚� 鞝勲厔 70.4%鞐愳劀 72.8%搿� 臧滌劆霅橃棃鞀惦媹雼�.
鞖挫榿牍勳毄鞚� 鞓堨偘 韱奠牅鞕� 鞚胳洂 臧愳稌鞙茧 42.1% 臧愳唽頃� RMB119.6氚彪鞚� 旮半頄堨溂氅�, 雼龟赴靾滌啇鞁れ潃 鞝勲厔 RMB108.0氚彪鞐愳劀 搁惭叠9.7氚彪鞙茧 於曥唽霅橃棃鞀惦媹雼�.
Burning Rock Biotech (NASDAQ: BNR), soci茅t茅 de technologie NGS en oncologie de pr茅cision, a publi茅 ses r茅sultats du T2 2025 avec des revenus totaux de 148,5 millions de RMB (20,7 M$), soit une hausse de 9,6% en glissement annuel.
La performance par segment est contrast茅e听: l'activit茅 hospitali猫re a augment茅 de 4,4% 脿 62,5 millions de RMB, le laboratoire central a diminu茅 de 16,2% 脿 40,9 millions de RMB, tandis que les services R&D pharmaceutiques ont bondi de 68,1% 脿 45,2 millions de RMB. La marge brute s'est am茅lior茅e, passant de 70,4% 脿 72,8% sur un an.
Les charges d'exploitation ont fortement diminu茅, -42,1% 脿 119,6 millions de RMB, en raison de mesures de ma卯trise des budgets et de r茅ductions d'effectifs. La perte nette s'est r茅duite 脿 9,7 millions de RMB contre 108,0 millions de RMB l'ann茅e pr茅c茅dente.
Burning Rock Biotech (NASDAQ: BNR), ein NGS-Technologieunternehmen f眉r Pr盲zisionsonkologie, meldete seine Finanzergebnisse f眉r Q2 2025 mit Gesamtums盲tzen von RMB148,5 Mio. (US$20,7 Mio.), was einem Anstieg von 9,6% im Jahresvergleich entspricht.
Die Performance nach Segmenten war durchwachsen: das In-Hospital-Gesch盲ft wuchs um 4,4% auf RMB62,5 Mio., das Zentrallabor-Gesch盲ft sank um 16,2% auf RMB40,9 Mio., w盲hrend Pharma-F&E-Dienstleistungen um 68,1% auf RMB45,2 Mio. zulegten. Die Bruttomarge verbesserte sich von 70,4% auf 72,8% im Jahresvergleich.
Betriebskosten sanken deutlich um 42,1% auf RMB119,6 Mio. aufgrund von Budgetkontrollen und Personalabbau. Der Jahresfehlbetrag verringerte sich auf RMB9,7 Mio. gegen眉ber RMB108,0 Mio. im Vorjahr.
- Net loss significantly reduced by 91% to RMB9.7 million from RMB108.0 million year-over-year
- Operating expenses decreased 42.1% through improved efficiency and cost controls
- Pharma R&D services revenue grew 68.1% year-over-year
- Overall gross margin improved to 72.8% from 70.4% year-over-year
- Central laboratory business achieved 87.9% gross margin, up from 78.8%
- Central laboratory business revenue declined 16.2% year-over-year
- In-hospital business showed modest 4.4% growth, indicating slower expansion
- Cash position at RMB455.0 million (US$63.5 million) with continued net losses
Insights
Burning Rock narrows losses significantly while growing revenue 9.6% and improving gross margins with pharma services leading growth.
Burning Rock's Q2 2025 results show a company in transition making notable progress toward profitability. Total revenue grew
The most impressive metric is the dramatic reduction in net loss to just
Gross margin improved to
The shifting business mix reflects an intentional strategy - growing higher-margin pharma services (
GUANGZHOU, China, Sept. 08, 2025 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the 鈥淐ompany鈥� or 鈥淏urning Rock鈥�), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended June 30, 2025.
Second Quarter 2025 Financial Results
Total Revenues were RMB148.5 million (US
- Revenue generated from in-hospital business was RMB62.5 million (US
$8.7 million ) for the three months ended June 30, 2025, representing a4.4% increase from RMB59.9 million for the same period in 2024, driven by an increase in sales volume from existing hospitals and new contracted partner hospitals. - Revenue generated from central laboratory business was RMB40.9 million (US
$5.7 million ) for the three months ended June 30, 2025, representing a16.2% decrease from RMB48.8 million for the same period in 2024, primarily attributable to a decrease in the number of tests, as we continued our transition towards in-hospital testing. - Revenue generated from pharma research and development services was RMB45.2 million (US
$6.3 million ) for the three months ended June 30, 2025, representing a68.1% increase from RMB26.9 million for the same period in 2024, primarily attributable to an increased development and testing services performed for our pharma customers.
Cost of revenues was RMB40.5 million (US
Gross profit was RMB108.1 million (US
Non-GAAP gross profit, which excludes depreciation and amortization expenses, was RMB110.5 million (US
Operating expenses were RMB119.6 million (US
- Research and development expenses were RMB49.8 million (US
$6.9 million ) for the three months ended June 30, 2025, representing a23.4% decrease from RMB65.0 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; and (ii) a decrease in the expenditure for research projects. - Selling and marketing expenses were RMB38.4 million (US
$5.4 million ) for the three months ended June 30, 2025, representing a21.5% decrease from RMB48.9 million for the same period in 2024, primarily due to (i) a decrease in staff cost resulted from the reorganization of the sales department and improvement in operating efficiency; and (ii) a decrease in entertainment expense; and (iii) a decrease in depreciation and amortization expense. - General and administrative expenses were RMB31.4 million (US
$4.4 million ) for the three months ended June 30, 2025, representing a66.1% decrease from RMB92.8 million for the same period in 2024, primarily due to an decrease in amortized expense on share-based compensation.
Net loss was RMB9.7 million (US
Cash, cash equivalents and restricted cash were RMB455.0 million (US
Exchange Rate Information
This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.1636 to US
About Burning Rock
Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.
For more information about Burning Rock, please visit: ir.brbiotech.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute 鈥渇orward-looking鈥� statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 鈥渨ill,鈥� 鈥渆xpects,鈥� 鈥渁nticipates,鈥� 鈥渇uture,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥渂elieves,鈥� 鈥渆stimates,鈥� 鈥渢arget,鈥� 鈥渃onfident鈥� and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock鈥檚 beliefs and expectations, are forward-looking statements. Such statements are based upon management鈥檚 current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock鈥檚 control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Non-GAAP Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (鈥淯.S. GAAP鈥�). The company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The company defines non-GAAP gross margin as gross margin excluding depreciation and amortization.
The company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The company believe non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization reflect the company鈥檚 ongoing business operations in a manner that allows more meaningful period-to-period comparisons.
Contact: [email protected]
Selected Operating Data
| 听 | As of | ||||||||
| 听 | June 30, 2024 | 听 | September 30, 2024 | 听 | December 31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 |
| In-hospital Channel: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Pipeline partner hospitals(1) | 29 | 听 | 30 | 听 | 29 | 听 | 30 | 听 | 30 |
| Contracted partner hospitals(2) | 59 | 听 | 61 | 听 | 63 | 听 | 63 | 听 | 63 |
| Total number of partner hospitals | 88 | 听 | 91 | 听 | 92 | 听 | 93 | 听 | 93 |
| (1) | Refers to hospitals that are in the process of establishing in-hospital laboratories, laboratory equipment procurement or installation, staff training or pilot testing using the Company鈥檚 products. |
| (2) | Refers to hospitals that have entered into contracts to purchase the Company鈥檚 products for use on a recurring basis in their respective in-hospital laboratories the Company helped them establish. Kit revenue is generated from contracted hospitals. |
| Selected Financial Data | |||||||||
| 听 | |||||||||
| 听 | For the three months ended | ||||||||
| Revenues | June 30, 2024 | 听 | September 30, 2024 | 听 | December 31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 |
| 听 | (RMB in thousands) | ||||||||
| Central laboratory channel | 48,773 | 听 | 39,984 | 听 | 39,278 | 听 | 38,296 | 听 | 40,861 |
| In-hospital channel | 59,872 | 听 | 63,769 | 听 | 43,464 | 听 | 57,687 | 听 | 62,496 |
| Pharma research and development channel | 26,888 | 听 | 24,891 | 听 | 43,280 | 听 | 37,099 | 听 | 45,197 |
| Total revenues | 135,533 | 听 | 128,644 | 听 | 126,022 | 听 | 133,082 | 听 | 148,554 |
| 听 | For the three months ended | ||||||||
| Gross profit | June 30, 2024 | 听 | September 30, 2024 | 听 | December 31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 |
| 听 | (RMB in thousands) | ||||||||
| Central laboratory channel | 38,424 | 听 | 33,262 | 听 | 33,153 | 听 | 32,191 | 听 | 35,937 |
| In-hospital channel | 44,058 | 听 | 46,580 | 听 | 29,563 | 听 | 43,895 | 听 | 46,490 |
| Pharma research and development channel | 12,956 | 听 | 12,004 | 听 | 26,706 | 听 | 21,315 | 听 | 25,676 |
| Total gross profit | 95,438 | 听 | 91,846 | 听 | 89,422 | 听 | 97,401 | 听 | 108,103 |
| 听 | For the three months ended | |||||||||
| Share-based compensation expenses | June 30, 2024 | 听 | September 30, 2024 | 听 | December 31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 | |
| 听 | (RMB in thousands) | |||||||||
| Cost of revenues | 464 | 听 | 289 | 听 | 520 | 听 | 308 | 听 | 280 | 听 |
| Research and development expenses | 12,008 | 听 | 3,180 | 听 | 3,202 | 听 | 1,800 | 听 | (270 | ) |
| Selling and marketing expenses | 1,232 | 听 | 1,917 | 听 | 1,353 | 听 | 1,025 | 听 | 364 | 听 |
| General and administrative expenses | 54,407 | 听 | 4,732 | 听 | 2,937 | 听 | 1,413 | 听 | 2,005 | 听 |
| Total share-based compensation expenses | 68,111 | 听 | 10,118 | 听 | 8,012 | 听 | 4,546 | 听 | 2,379 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |
| Burning Rock Biotech Limited Unaudited Condensed Statements of Comprehensive Loss (in thousands, except for number of shares and per share data) | |||||||||||||||||
| 听 | |||||||||||||||||
| 听 | For the three months ended | ||||||||||||||||
| 听 | June 30, 2024 | 听 | September 30, 2024 | 听 | December 31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 | 听 | June 30, 2025 | ||||||
| 听 | RMB | 听 | RMB | 听 | RMB | 听 | 听 | 听 | RMB | 听 | US$ | ||||||
| Revenues | 135,533 | 听 | 听 | 128,644 | 听 | 听 | 126,022 | 听 | 听 | 133,082 | 听 | 听 | 148,554 | 听 | 听 | 20,737 | 听 |
| Cost of revenues | (40,095 | ) | 听 | (36,798 | ) | 听 | (36,600 | ) | 听 | (35,681 | ) | 听 | (40,451 | ) | 听 | (5,646 | ) |
| Gross profit | 95,438 | 听 | 听 | 91,846 | 听 | 听 | 89,422 | 听 | 听 | 97,401 | 听 | 听 | 108,103 | 听 | 听 | 15,091 | 听 |
| Operating expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Research and development expenses | (64,952 | ) | 听 | (49,150 | ) | 听 | (52,203 | ) | 听 | (40,389 | ) | 听 | (49,770 | ) | 听 | (6,948 | ) |
| Selling and marketing expenses | (48,907 | ) | 听 | (48,411 | ) | 听 | (46,730 | ) | 听 | (40,888 | ) | 听 | (38,413 | ) | 听 | (5,362 | ) |
| General and administrative expenses | (92,794 | ) | 听 | (32,874 | ) | 听 | (37,289 | ) | 听 | (31,303 | ) | 听 | (31,417 | ) | 听 | (4,386 | ) |
| Impairment loss on long-lived assets | - | 听 | 听 | - | 听 | 听 | (35,127 | ) | 听 | - | 听 | 听 | - | 听 | 听 | - | 听 |
| Total operating expenses | (206,653 | ) | 听 | (130,435 | ) | 听 | (171,349 | ) | 听 | (112,580 | ) | 听 | (119,600 | ) | 听 | (16,696 | ) |
| Loss from operations听 | (111,215 | ) | 听 | (38,589 | ) | 听 | (81,927 | ) | 听 | (15,179 | ) | 听 | (11,497 | ) | 听 | (1,605 | ) |
| Interest income | 3,187 | 听 | 听 | 3,173 | 听 | 听 | 1,814 | 听 | 听 | 2,581 | 听 | 听 | 2,226 | 听 | 听 | 311 | 听 |
| Other (expense) income, net | (82 | ) | 听 | 1 | 听 | 听 | 4,353 | 听 | 听 | (652 | ) | 听 | 387 | 听 | 听 | 54 | 听 |
| Foreign exchange gain (loss), net | 262 | 听 | 听 | (129 | ) | 听 | (220 | ) | 听 | (26 | ) | 听 | (574 | ) | 听 | (80 | ) |
| Loss before income tax | (107,848 | ) | 听 | (35,544 | ) | 听 | (75,980 | ) | 听 | (13,276 | ) | 听 | (9,458 | ) | 听 | (1,320 | ) |
| Income tax expenses | (190 | ) | 听 | (201 | ) | 听 | (5,314 | ) | 听 | (224 | ) | 听 | (244 | ) | 听 | (34 | ) |
| Net loss | (108,038 | ) | 听 | (35,745 | ) | 听 | (81,294 | ) | 听 | (13,500 | ) | 听 | (9,702 | ) | 听 | (1,354 | ) |
| Net loss attributable to Burning Rock Biotech Limited鈥檚 shareholders | (108,038 | ) | 听 | (35,745 | ) | 听 | (81,294 | ) | 听 | (13,500 | ) | 听 | (9,702 | ) | 听 | (1,354 | ) |
| Net loss attributable to ordinary shareholders | (108,038 | ) | 听 | (35,745 | ) | 听 | (81,294 | ) | 听 | (13,500 | ) | 听 | (9,702 | ) | 听 | (1,354 | ) |
| Loss per share for class A and class B ordinary shares: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Class A ordinary shares - basic and diluted | (1.05 | ) | 听 | (0.35 | ) | 听 | (0.79 | ) | 听 | (0.13 | ) | 听 | (0.09 | ) | 听 | (0.01 | ) |
| Class B ordinary shares - basic and diluted | (1.05 | ) | 听 | (0.35 | ) | 听 | (0.79 | ) | 听 | (0.13 | ) | 听 | (0.09 | ) | 听 | (0.01 | ) |
| Weighted average shares outstanding used in loss per share computation: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Class A ordinary shares - basic and diluted | 85,271,858 | 听 | 听 | 85,902,670 | 听 | 听 | 86,036,286 | 听 | 听 | 90,291,658 | 听 | 听 | 90,357,970 | 听 | 听 | 90,357,970 | 听 |
| Class B ordinary shares - basic and diluted | 17,324,848 | 听 | 听 | 17,324,848 | 听 | 听 | 17,324,848 | 听 | 听 | 17,324,848 | 听 | 听 | 17,324,848 | 听 | 听 | 17,324,848 | 听 |
| Other comprehensive income (loss), net of tax of nil: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Foreign currency translation adjustments | 940 | 听 | 听 | (4,054 | ) | 听 | 6,009 | 听 | 听 | (72 | ) | 听 | (243 | ) | 听 | (34 | ) |
| Total comprehensive loss | (107,098 | ) | 听 | (39,799 | ) | 听 | (75,285 | ) | 听 | (13,572 | ) | 听 | (9,945 | ) | 听 | (1,388 | ) |
| Total comprehensive loss attributable to Burning Rock Biotech Limited鈥檚 shareholders | (107,098 | ) | 听 | (39,799 | ) | 听 | (75,285 | ) | 听 | (13,572 | ) | 听 | (9,945 | ) | 听 | (1,388 | ) |
| Burning Rock Biotech Limited Unaudited Condensed Statements of Comprehensive Loss (in thousands, except for number of shares and per share data) | ||||||||
| 听 | ||||||||
| 听 | For the six months ended | |||||||
| 听 | June 30, 2024 | 听 | June 30, 2025 | 听 | June 30, 2025 | |||
| 听 | RMB | 听 | RMB | 听 | US$ | |||
| Revenues | 261,156 | 听 | 听 | 281,636 | 听 | 听 | 39,315 | 听 |
| Cost of revenues | (80,024 | ) | 听 | (76,132 | ) | 听 | (10,629 | ) |
| Gross profit | 181,132 | 听 | 听 | 205,504 | 听 | 听 | 28,686 | 听 |
| Operating expenses: | 听 | 听 | 听 | |||||
| Research and development expenses | (130,937 | ) | 听 | (90,159 | ) | 听 | (12,586 | ) |
| Selling and marketing expenses | (95,763 | ) | 听 | (79,301 | ) | 听 | (11,070 | ) |
| General and administrative expenses | (191,475 | ) | 听 | (62,720 | ) | 听 | (8,755 | ) |
| Total operating expenses | (418,175 | ) | 听 | (232,180 | ) | 听 | (32,411 | ) |
| Loss from operations听 | (237,043 | ) | 听 | (26,676 | ) | 听 | (3,725 | ) |
| Interest income | 7,225 | 听 | 听 | 4,807 | 听 | 听 | 671 | 听 |
| Other income (expense), net | 352 | 听 | 听 | (265 | ) | 听 | (37 | ) |
| Foreign exchange gain (loss), net | 249 | 听 | 听 | (600 | ) | 听 | (84 | ) |
| Loss before income tax | (229,217 | ) | 听 | (22,734 | ) | 听 | (3,175 | ) |
| Income tax expenses | (370 | ) | 听 | (468 | ) | 听 | (65 | ) |
| Net loss | (229,587 | ) | 听 | (23,202 | ) | 听 | (3,240 | ) |
| Net loss attributable to Burning Rock Biotech Limited鈥檚 shareholders | (229,587 | ) | 听 | (23,202 | ) | 听 | (3,240 | ) |
| Net loss attributable to ordinary shareholders | (229,587 | ) | 听 | (23,202 | ) | 听 | (3,240 | ) |
| Loss per share for class A and class B ordinary shares: | 听 | 听 | 听 | |||||
| Class A ordinary shares - basic and diluted | (2.24 | ) | 听 | (0.22 | ) | 听 | (0.03 | ) |
| Class B ordinary shares - basic and diluted | (2.24 | ) | 听 | (0.22 | ) | 听 | (0.03 | ) |
| Weighted average shares outstanding used in loss per share computation: | 听 | 听 | 听 | |||||
| Class A ordinary shares - basic and diluted | 85,246,969 | 听 | 听 | 90,324,997 | 听 | 听 | 90,324,997 | 听 |
| Class B ordinary shares - basic and diluted | 17,324,848 | 听 | 听 | 17,324,848 | 听 | 听 | 17,324,848 | 听 |
| Other comprehensive income (loss), net of tax of nil: | 听 | 听 | 听 | |||||
| Foreign currency translation adjustments | 1,530 | 听 | 听 | (315 | ) | 听 | (44 | ) |
| Total comprehensive loss | (228,057 | ) | 听 | (23,517 | ) | 听 | (3,284 | ) |
| Total comprehensive loss attributable to Burning Rock Biotech Limited鈥檚 shareholders | (228,057 | ) | 听 | (23,517 | ) | 听 | (3,284 | ) |
| Burning Rock Biotech Limited Unaudited Condensed Consolidated Balance Sheets (In thousands) | |||||
| 听 | |||||
| 听 | As of | ||||
| 听 | December 31, 2024 | 听 | June 30, 2025 | 听 | June 30, 2025 |
| 听 | RMB | 听 | RMB | 听 | US$ |
| ASSETS | 听 | 听 | 听 | 听 | 听 |
| Current assets: | 听 | 听 | 听 | 听 | 听 |
| Cash and cash equivalents | 519,849 | 听 | 452,721 | 听 | 63,197 |
| Restricted cash | 2,313 | 听 | 2,303 | 听 | 321 |
| Accounts receivable, net | 152,013 | 听 | 189,969 | 听 | 26,519 |
| Contract assets, net | 13,855 | 听 | 14,755 | 听 | 2,060 |
| Inventories, net | 62,625 | 听 | 57,810 | 听 | 8,070 |
| Prepayments and other current assets, net | 25,963 | 听 | 23,254 | 听 | 3,246 |
| Total current assets | 776,618 | 听 | 740,812 | 听 | 103,413 |
| Non-current assets: | 听 | 听 | 听 | 听 | 听 |
| Property and equipment, net | 47,152 | 听 | 38,968 | 听 | 5,440 |
| Operating right-of-use assets | 53,188 | 听 | 38,168 | 听 | 5,328 |
| Intangible assets, net | 421 | 听 | 352 | 听 | 49 |
| Other non-current assets | 7,926 | 听 | 6,631 | 听 | 926 |
| Total non-current assets | 108,687 | 听 | 84,119 | 听 | 11,743 |
| TOTAL ASSETS | 885,305 | 听 | 824,931 | 听 | 115,156 |
| Burning Rock Biotech Limited Unaudited Condensed Consolidated Balance Sheets (Continued) (in thousands) | ||||||||
| 听 | ||||||||
| 听 | As of | |||||||
| 听 | December 31, 2024 | 听 | June 30, 2025 | 听 | June 30, 2025 | |||
| 听 | RMB | 听 | RMB | 听 | US$ | |||
| LIABILITIES AND SHAREHOLDERS鈥� EQUITY | 听 | 听 | 听 | 听 | 听 | |||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | |||
| Accounts payable | 33,747 | 听 | 听 | 32,164 | 听 | 听 | 4,490 | 听 |
| Deferred revenue | 117,895 | 听 | 听 | 102,800 | 听 | 听 | 14,350 | 听 |
| Accrued liabilities and other current liabilities | 89,498 | 听 | 听 | 75,120 | 听 | 听 | 10,487 | 听 |
| Customer deposits | 592 | 听 | 听 | 592 | 听 | 听 | 83 | 听 |
| Current portion of long-term borrowings | - | 听 | 听 | 200 | 听 | 听 | 28 | 听 |
| Current portion of operating lease liabilities | 24,567 | 听 | 听 | 19,255 | 听 | 听 | 2,688 | 听 |
| Total current liabilities | 266,299 | 听 | 听 | 230,131 | 听 | 听 | 32,126 | 听 |
| Non-current liabilities: | 听 | 听 | 听 | 听 | 听 | |||
| Long-term borrowings | - | 听 | 听 | 1,800 | 听 | 听 | 251 | 听 |
| Non-current portion of operating lease liabilities | 27,754 | 听 | 听 | 17,871 | 听 | 听 | 2,495 | 听 |
| Other non-current liabilities | 10,425 | 听 | 听 | 10,894 | 听 | 听 | 1,521 | 听 |
| Total non-current liabilities | 38,179 | 听 | 听 | 30,565 | 听 | 听 | 4,267 | 听 |
| TOTAL LIABILITIES | 304,478 | 听 | 听 | 260,696 | 听 | 听 | 36,393 | 听 |
Shareholders鈥� equity: | 听 | 听 | 听 | 听 | 听 | |||
| Class A ordinary shares | 124 | 听 | 听 | 124 | 听 | 听 | 17 | 听 |
| Class B ordinary shares | 21 | 听 | 听 | 21 | 听 | 听 | 3 | 听 |
| Additional paid-in capital | 5,002,255 | 听 | 听 | 5,006,839 | 听 | 听 | 698,928 | 听 |
| Treasury stock | (63,264 | ) | 听 | (60,923 | ) | 听 | (8,505 | ) |
| Accumulated deficits | (4,200,261 | ) | 听 | (4,223,463 | ) | 听 | (589,573 | ) |
| Accumulated other comprehensive loss | (158,048 | ) | 听 | (158,363 | ) | 听 | (22,107 | ) |
| Total shareholders鈥� equity | 580,827 | 听 | 听 | 564,235 | 听 | 听 | 78,763 | 听 |
| TOTAL LIABILITIES AND SHAREHOLDERS鈥� EQUITY | 885,305 | 听 | 听 | 824,931 | 听 | 听 | 115,156 | 听 |
| Burning Rock Biotech Limited Unaudited Condensed Statements of Cash Flows (in thousands) | ||||||||
| 听 | ||||||||
| 听 | For the three months ended | |||||||
| 听 | June 30, 2024 | 听 | June 30, 2025 | 听 | June 30, 2025 | |||
| 听 | RMB | 听 | RMB | 听 | US$ | |||
| Net cash used in operating activities | (40,836 | ) | 听 | (44,349 | ) | 听 | (6,191 | ) |
| Net cash (used in) generated from investing activities | (227 | ) | 听 | 207 | 听 | 听 | 29 | 听 |
| Net cash generated from financing activities | - | 听 | 听 | 2,000 | 听 | 听 | 279 | 听 |
| Effect of exchange rate on cash, cash equivalents and restricted cash | 1,436 | 听 | 听 | (240 | ) | 听 | (33 | ) |
| Net decrease in cash, cash equivalents and restricted cash | (39,627 | ) | 听 | (42,382 | ) | 听 | (5,916 | ) |
| Cash, cash equivalents and restricted cash at the beginning of period | 572,674 | 听 | 听 | 497,406 | 听 | 听 | 69,434 | 听 |
| Cash, cash equivalents and restricted cash at the end of period | 533,047 | 听 | 听 | 455,024 | 听 | 听 | 63,518 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | For the six months ended | |||||||
| 听 | June 30, 2024 | 听 | June 30, 2025 | 听 | June 30, 2025 | |||
| 听 | RMB | 听 | RMB | 听 | US$ | |||
| Net cash used in operating activities | (81,045 | ) | 听 | (67,876 | ) | 听 | (9,475 | ) |
| Net cash used in investing activities | (2,613 | ) | 听 | (1,324 | ) | 听 | (185 | ) |
| Net cash generated from financing activities | - | 听 | 听 | 2,000 | 听 | 听 | 279 | 听 |
| Effect of exchange rate on cash, cash equivalents and restricted cash | 1,489 | 听 | 听 | 62 | 听 | 听 | 8 | 听 |
| Net decrease in cash, cash equivalents and restricted cash | (82,169 | ) | 听 | (67,138 | ) | 听 | (9,373 | ) |
| Cash, cash equivalents and restricted cash at the beginning of period | 615,216 | 听 | 听 | 522,162 | 听 | 听 | 72,891 | 听 |
| Cash, cash equivalents and restricted cash at the end of period | 533,047 | 听 | 听 | 455,024 | 听 | 听 | 63,518 | 听 |
| 听 | 听 | 听 | ||||||
| Burning Rock Biotech Limited Reconciliations of GAAP and Non-GAAP Results | ||||||||||||||
| 听 | ||||||||||||||
| 听 | 听 | For the three months ended | ||||||||||||
| 听 | June 30, 2024 | 听 | September听30, 2024 | 听 | December听31, 2024 | 听 | March 31, 2025 | 听 | June 30, 2025 | |||||
| 听 | 听 | (RMB in thousands) | ||||||||||||
| Gross profit: | 听 | 听 | ||||||||||||
| Central laboratory channel | 38,424 | 听 | 听 | 33,262 | 听 | 听 | 33,153 | 听 | 听 | 32,191 | 听 | 听 | 35,937 | 听 |
| In-hospital channel | 44,058 | 听 | 听 | 46,580 | 听 | 听 | 29,563 | 听 | 听 | 43,895 | 听 | 听 | 46,490 | 听 |
| Pharma research and development channel | 12,956 | 听 | 听 | 12,004 | 听 | 听 | 26,706 | 听 | 听 | 21,315 | 听 | 听 | 25,676 | 听 |
| Total gross profit | 95,438 | 听 | 听 | 91,846 | 听 | 听 | 89,422 | 听 | 听 | 97,401 | 听 | 听 | 108,103 | 听 |
| Add: depreciation and amortization: | 听 | 听 | 听 | 听 | 听 | |||||||||
| Central laboratory channel | 1,226 | 听 | 听 | 1,277 | 听 | 听 | 1,010 | 听 | 听 | 562 | 听 | 听 | 456 | 听 |
| In-hospital channel | 824 | 听 | 听 | 798 | 听 | 听 | 623 | 听 | 听 | 290 | 听 | 听 | 389 | 听 |
| Pharma research and development channel | 4,417 | 听 | 听 | 3,846 | 听 | 听 | 2,534 | 听 | 听 | 2,412 | 听 | 听 | 1,528 | 听 |
| Total depreciation and amortization included in cost of revenues | 6,467 | 听 | 听 | 5,921 | 听 | 听 | 4,167 | 听 | 听 | 3,264 | 听 | 听 | 2,373 | 听 |
| Non-GAAP gross profit锛� | 听 | 听 | 听 | 听 | 听 | |||||||||
| Central laboratory channel | 39,650 | 听 | 听 | 34,539 | 听 | 听 | 34,163 | 听 | 听 | 32,753 | 听 | 听 | 36,393 | 听 |
| In-hospital channel | 44,882 | 听 | 听 | 47,378 | 听 | 听 | 30,186 | 听 | 听 | 44,185 | 听 | 听 | 46,879 | 听 |
| Pharma research and development channel | 17,373 | 听 | 听 | 15,850 | 听 | 听 | 29,240 | 听 | 听 | 23,727 | 听 | 听 | 27,204 | 听 |
| Total non-GAAP gross profit | 101,905 | 听 | 听 | 97,767 | 听 | 听 | 93,589 | 听 | 听 | 100,665 | 听 | 听 | 110,476 | 听 |
| Non-GAAP gross margin锛� | 听 | 听 | 听 | 听 | 听 | |||||||||
| Central laboratory channel | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| In-hospital channel | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Pharma research and development channel | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Total non-GAAP gross margin | 75.2% | 听 | 听 | 76.0% | 听 | 听 | 74.3% | 听 | 听 | 75.6% | 听 | 听 | 74.4% | 听 |
FAQ
What were Burning Rock's (BNR) Q2 2025 revenue and growth?
How did BNR's different business segments perform in Q2 2025?
What was Burning Rock's net loss in Q2 2025?
How much did BNR reduce its operating expenses in Q2 2025?
What was Burning Rock's gross margin in Q2 2025?
