Irvine-based medical device company Beta Bionics Inc. yesterday reported first quarter earnings and raised its full-year revenue guidance based on the quarter’s performance.
Net sales increased 57% to $27.6 million, leading the company to raise guidance to $131 million to $136 million, up from prior guidance of $130 million to $135 million.
“Our increased revenue and pharmacy mix guidance reflects our higher expectations for new patient starts driven by strong Q1 performance and the success we’ve had in onboarding new sales territories where we’re on track toward our goal of adding at least 20 territories in 2026,” Chief Financial Officer Steven Fiddler said in an earnings call with analysts.
Despite the growth, revenue came in below the Zacks Consensus Estimate of $127.7 million. The company also posted a loss of 49 cents per share, which was narrower than the expected 53-cent loss.
Shares in Beta Bionics fell 6% to $11.55 and a $519 million market cap a day after earnings (Nasdaq: BBNX).
