BFRG on Nasdaq
BullFrog AI Holdings, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue5¢$94.8K
- Research and development95¢$1.8M
Out of $116.7K in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Collaboration revenue | $116.7K | |
| Total revenue | $116.7K | |
| Cost of collaboration revenue | $94.8K | |
| Gross profit | $21.9K | |
| Research and development | $1.8M | $2.2M |
| General and administrative | $4.8M | $5.0M |
| Total operating expenses | $6.6M | $7.2M |
| Loss from operations | -$6.6M | -$7.2M |
| Interest expense | -$5.6K | -$18.2K |
| Interest income | $102.2K | $260.9K |
| Total other income (expense), net | $96.6K | $242.7K |
| Net loss | -$6.5M | -$7.0M |
| Deemed dividend related to warrant exercise price adjustment | -$45.0K | |
| Net loss attributable to common stockholders | -$6.5M | -$7.0M |
| Net loss per common share attributable to common stockholders - basic | -$0.63 | -$0.85 |
| Net loss per common share attributable to common stockholders - diluted | -$0.63 | -$0.85 |
| Weighted average number of shares outstanding - basic | 10.3M shares | 8.2M shares |
| Weighted average number of shares outstanding - diluted | 10.3M shares | 8.2M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $2.2M | $5.4M | |
| Prepaid expenses and other assets | $400.5K | $111.6K | |
| Total current assets | $2.6M | $5.5M | |
| Restricted cash | $105.0K | ||
| Property and equipment, net | $2.5K | $4.2K | |
| Investments | $116.7K | ||
| Total assets | $2.8M | $5.6M | |
| Accounts payable | $168.2K | $435.9K | |
| Accrued expenses | $503.9K | $152.2K | |
| Total current liabilities | $672.0K | $588.1K | |
| Total liabilities | $672.0K | $588.1K | |
| Series A Convertible Preferred stock, $0.00001 par value, 5,500,000 shares authorized; 73,449 shares issued and outstanding as of December 31, 2025 and 2024. | $1 | $1 | |
| Common stock, $0.00001 par value, 100,000,000 shares authorized; 11,418,183 and 9,113,139 shares issued and outstanding as of December 31, 2025 and 2024, respectively. | $114 | $91 | |
| Additional paid-in capital | $25.4M | $21.8M | |
| Accumulated deficit | -$23.3M | -$16.8M | |
| Total stockholders equity | $2.1M | $5.0M | $2.6M |
| Total liabilities and stockholders equity | $2.8M | $5.6M | |
| Preferred stock, par value | $0.00 | ||
| Preferred stock, shares authorized | 10.0M shares | ||
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 100.0M shares | 100.0M shares | |
| Common stock, shares issued | 11.4M shares | 9.1M shares | |
| Common stock, shares outstanding | 11.4M shares | 9.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$6.5M | -$7.0M |
| Depreciation | $1.7K | $1.7K |
| Stock-based compensation | $1.0M | $943.6K |
| Non-cash consideration received pursuant to revenue agreements | -$116.7K | |
| Prepaid expenses and other assets | $11.2K | $34.3K |
| Accounts payable | -$267.8K | $332.3K |
| Accrued expenses | $336.7K | $71.5K |
| Net cash used in operating activities | -$5.5M | -$5.6M |
| Proceeds from sale of common stock from ATM, net of issuance costs | $2.5M | |
| Proceeds from issuance of common stock and warrants, net of issuance costs | $8.3M | |
| Proceeds from warrant exercises | $105.8K | |
| Issuance costs paid in advance of equity financing | -$92.5K | |
| Proceeds from short term insurance financing | $181.8K | $561.9K |
| Payments on short term insurance financing | -$181.8K | -$561.9K |
| Net cash provided by financing activities | $2.4M | $8.4M |
| Net (decrease) increase in cash and cash equivalents | -$3.1M | $2.8M |
| Cash paid for interest | $5.6K | $18.2K |
| Issuance of common stock as commitment fee in advance of equity transaction | $207.5K |
Recent filings
- Sep 22, 20264
- Sep 22, 20264
- Aug 20, 20268-K
- Aug 14, 202610-Q
- Jul 6, 2026424B3
- Jun 15, 20264
- Jun 15, 20264
- Jun 15, 20264
- Jun 15, 20268-K
- Jun 10, 2026EFFECT
- Jun 8, 2026CORRESP
- Jun 4, 2026UPLOAD
- May 29, 2026S-1
- May 14, 202610-Q
- May 1, 2026DEFA14A
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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