BNR on Nasdaq

Burning Rock Biotech (China)

Company in Beijing, China.¹

$15.71 up 1.10 (7.53%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 16, 2026.

Overview

$77.2MRevenue, fiscal 2025⁴

-$7.9MNet income, fiscal 2025⁴

2014Founded¹

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TickerBNR on Nasdaq¹
IndustryServices-Medical Laboratories¹
HeadquartersBeijing¹
Websitewww.brbiotech.com
Business addressNo. 5 Xingdao Ring Road North,, International Bio Island, Guangzhou, Guangdong, 510005⁵
Filer categoryNon-accelerated filer⁵

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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

74.7%Gross margin⁴

-10.2%Operating margin⁴

-10.3%Net margin⁴

9.2%Revenue growth, 2025⁴

-10.3%Return on equity⁴

-$4.8MFree cash flow⁴

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 59% of the revenue Burning Rock Biotech (China) broke down this way in fiscal 2025.

Service316.1M CNY⁴59%up 9% from 2024
Product223.5M CNY⁴41%down 1% from 2024

Products and services by year

Products and services	2023	2024	2025
Service	345.0M CNY	290.7M CNY	316.1M CNY
Product	192.4M CNY	225.1M CNY	223.5M CNY

Business segments

Inhospital business brought in 42% of the revenue Burning Rock Biotech (China) broke down this way in fiscal 2025.

Inhospital business224.0M CNY⁴42%down 0% from 2024
Central laboratory business160.0M CNY⁴30%down 9% from 2024
Pharma research and development services155.5M CNY⁴29%up 34% from 2024

Business segments by year

Business segments	2023	2024	2025
Inhospital business	188.7M CNY	224.5M CNY	224.0M CNY
Central laboratory business	232.8M CNY	175.6M CNY	160.0M CNY
Pharma research and development services	115.9M CNY	115.7M CNY	155.5M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueResearch and developmentOther costs

Cost of revenue25¢$19.5M
Research and development31¢$23.8M
Other costs44¢$33.6M
Income tax0¢$223.0K

Out of $77.2M in revenue.⁴ The company lost money this year.

Financial statements

Revenue⁶⁷⁸⁹¹⁰⁴$77.2M in 2025+17% since 2020

Gross profit⁶⁷⁸⁹¹⁰⁴$57.6M in 2025+20% since 2020

Operating income⁶⁷⁸⁹¹⁰⁴-$7.8M in 2025−88% since 2020

Net income⁶⁷⁸⁹¹⁰⁴-$7.9M in 2025−87% since 2020

Every line of the income statement in the latest annual report, as filed.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenues	539.6M CNY	515.8M CNY	537.4M CNY
Gross Profit	402.9M CNY	362.4M CNY	363.2M CNY
Research and development expenses	-166.5M CNY	-232.3M CNY	-347.0M CNY
Selling and marketing expenses	-165.2M CNY	-190.9M CNY	-247.7M CNY
General and administrative expenses	-126.1M CNY	-261.6M CNY	-437.8M CNY
Impairment loss on long-lived assets	0 CNY	-35.1M CNY	0 CNY
Total operating expenses	-457.8M CNY	-720.0M CNY	-1.0B CNY
Loss from operations	-54.8M CNY	-357.6M CNY	-669.3M CNY
Interest income	8.1M CNY	12.2M CNY	18.0M CNY
Interest expenses	-30.0K CNY	0 CNY	0 CNY
Other income (loss), net	-257.0K CNY	4.7M CNY	484.0K CNY
Foreign exchange loss, net	-6.7M CNY	-100.0K CNY	-420.0K CNY
Loss before income tax	-53.8M CNY	-340.7M CNY	-651.3M CNY
Income tax expenses	-1.6M CNY	-5.9M CNY	-2.4M CNY
Net loss	-55.3M CNY	-346.6M CNY	-653.7M CNY
Net loss attributable to Burning Rock Biotech Limited	-55.3M CNY	-346.6M CNY	-653.7M CNY
Foreign currency translation adjustments	-4.1M CNY	3.5M CNY	4.2M CNY
Total comprehensive loss	-59.4M CNY	-343.1M CNY	-649.5M CNY
Total comprehensive loss attributable to Burning Rock Biotech Limited	-59.4M CNY	-343.1M CNY	-649.5M CNY
Cost of revenues	136.7M CNY	153.4M CNY	174.2M CNY

Total assets⁶⁷⁸⁹¹⁰⁴$117.3M in 2025−71% since 2020

Total liabilities⁶⁷⁸⁹¹⁰⁴$40.8M in 2025+10% since 2020

Shareholders’ equity⁶⁷⁸⁹¹⁰⁴$76.5M in 2025−79% since 2020

Cash⁶⁷⁸⁹¹⁰⁴$68.4M in 2025+354% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	478.4M CNY	519.8M CNY	615.1M CNY
Restricted cash	2.7M CNY	2.3M CNY	120.0K CNY
Accounts receivable (net of allowance of RMB45,867 and RMB59,254 (US$8,473) as of December 31, 2024 and 2025, respectively)	169.6M CNY	152.0M CNY
Contract assets (net of allowance of RMB61,856 and RMB65,651 (US$9,388) as of December 31, 2024 and 2025, respectively)	12.3M CNY	13.9M CNY
Inventories, net	48.6M CNY	53.8M CNY
Contract costs	8.4M CNY	8.9M CNY
Prepayments and other current assets	18.6M CNY	26.0M CNY
Total current assets	738.6M CNY	776.6M CNY
Property and equipment, net	31.1M CNY	47.2M CNY
Intangible assets, net	284.0K CNY	421.0K CNY
Operating right-of-use assets	42.8M CNY	53.2M CNY
Other non-current assets	7.6M CNY	7.9M CNY
Total non-current assets	81.8M CNY	108.7M CNY
TOTAL ASSETS	820.4M CNY	885.3M CNY
Accounts payable	40.7M CNY	33.7M CNY
Deferred revenue	107.8M CNY	117.9M CNY
Accrued liabilities and other current liabilities	80.9M CNY	89.5M CNY
Customer deposits	592.0K CNY	592.0K CNY
Current portion of long-term borrowings	200.0K CNY	0 CNY
Current portion of operating lease liabilities	16.8M CNY	24.6M CNY
Total current liabilities	247.0M CNY	266.3M CNY
Long-term borrowings	1.7M CNY	0 CNY
Other non-current liabilities	12.0M CNY	10.4M CNY
Non-current portion of operating lease liabilities	24.5M CNY	27.8M CNY
Total non-current liabilities	38.1M CNY	38.2M CNY
TOTAL LIABILITIES	285.1M CNY	304.5M CNY
Treasury stock	-57.2M CNY	-63.3M CNY
Additional paid-in capital	5.0B CNY	5.0B CNY
Accumulated deficits	-4.3B CNY	-4.2B CNY
Accumulated other comprehensive loss	-162.1M CNY	-158.0M CNY
Total shareholders' equity	535.3M CNY	580.8M CNY	768.4M CNY
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	820.4M CNY	885.3M CNY
Accounts Receivable, Allowance	59.3M CNY	45.9M CNY
Consolidated VIE and its subsidiaries, Current	212.2M CNY	216.7M CNY
Consolidated VIE and its subsidiaries, Non-current	24.7M CNY	36.8M CNY
Contract Assets, Net Of Allowances	65.7M CNY	61.9M CNY	58.8M CNY

Cash from operations⁶⁷⁸⁹¹⁰⁴-$4.1M in 2025−64% since 2020

Capital spending⁶⁷⁸⁹¹⁰⁴$751.0K in 2025−92% since 2020

Free cash flow⁶⁷⁸⁹¹⁰⁴-$4.8M in 2025−77% since 2020

Share buybacks⁶⁷$0 in 2021

Every line of the cash flow in the latest annual report, as filed.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Net Income (Loss)	-55.3M CNY	-346.6M CNY	-653.7M CNY
Unrealized loss on foreign currency transactions	6.1M CNY	0 CNY	0 CNY
Depreciation and amortization	21.8M CNY	52.2M CNY	133.4M CNY
Allowance for credit losses	17.2M CNY	10.5M CNY	18.5M CNY
Impairment for long-lived assets	0 CNY	35.1M CNY	0 CNY
Impairment for equity-method investment	0 CNY	247.0K CNY	0 CNY
Inventory reserve	3.2M CNY	3.2M CNY	1.1M CNY
Loss (gain) on disposal of equipment	-204.0K CNY	2.2M CNY	1.0M CNY
Share of loss from an equity method investee	0 CNY	93.0K CNY	361.0K CNY
Share-based compensation	13.9M CNY	155.6M CNY	260.7M CNY
Change in fair value of convertible note receivable	0 CNY	5.3M CNY	-215.0K CNY
Non-cash operating lease expenses	24.4M CNY	26.5M CNY	35.2M CNY
Derecognition of right-of-use asset and lease liability	0 CNY	-148.0K CNY	-13.0K CNY
Accounts receivable	-31.0M CNY	-32.6M CNY	-12.4M CNY
Contract assets	-2.2M CNY	5.8M CNY	-4.0M CNY
Inventories	2.5M CNY	2.5M CNY	57.3M CNY
Prepayments and other current and non-current assets	6.4M CNY	19.3M CNY	12.4M CNY
Accounts payable	7.2M CNY	18.9M CNY	-31.1M CNY
Deferred revenue	-10.1M CNY	-12.6M CNY	-17.1M CNY
Accrued liabilities and other current liabilities	-6.9M CNY	-8.7M CNY	-19.2M CNY
Customer deposits	0 CNY	-605.0K CNY	-606.0K CNY
Deferred government grants	-229.0K CNY	-861.0K CNY	427.0K CNY
Operating lease liabilities	-25.1M CNY	-27.6M CNY	-37.7M CNY
Net cash used in operating activities	-28.4M CNY	-92.3M CNY	-255.8M CNY
Proceeds from disposal of equipment	858.0K CNY	1.6M CNY	84.0K CNY
Purchase of property and equipment	-5.2M CNY	-5.4M CNY	-8.1M CNY
Purchase of intangible assets	0 CNY	-558.0K CNY	-1.3M CNY
Net cash used in investing activities	-4.4M CNY	-4.4M CNY	-9.3M CNY
Refund of consideration for Employee Share Incentive Program	0 CNY	0 CNY	-41.9M CNY
Purchase of treasury stock	0 CNY	-72.0K CNY	-7.0M CNY
Proceeds from long-term borrowings	2.0M CNY	0 CNY	0 CNY
Repayment of long-term borrowings	-100.0K CNY	0 CNY	0 CNY
Net cash (used in)/generated from financing activities	1.9M CNY	-72.0K CNY	-48.8M CNY
Effect of exchange rate on cash, cash equivalents and restricted cash	-10.1M CNY	3.7M CNY	3.9M CNY
Net decreases in cash, cash equivalents and restricted cash	-41.1M CNY	-93.1M CNY	-310.1M CNY
Interest expense paid	30.0K CNY	0 CNY	0 CNY
Income tax expense paid	0 CNY	0 CNY	0 CNY
Purchase of property and equipment included in prepayments and other non-current assets	179.0K CNY	3.2M CNY	4.7M CNY
Purchase of property and equipment included in accounts payable	1.2M CNY	1.1M CNY	1.8M CNY

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Timeline

2014Founded Founded¹

Recent filings

Sep 10, 20266-K
Jul 2, 20264
Jun 9, 20266-K
May 15, 2026SCHEDULE 13G/A
May 13, 2026SCHEDULE 13G/A
Apr 28, 202620-F
Apr 2, 20264
Mar 18, 20263
Mar 17, 20263
Mar 17, 20263
Mar 17, 20263
Mar 17, 20263
Mar 17, 20263
Mar 13, 20266-K
Dec 23, 20256-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataBurning Rock Biotech (China) on Wikidata
2
SEC EDGARBurning Rock Biotech (China) filings on SEC EDGAR
3
Yahoo FinanceBNR quote
4
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2025
5
SEC EDGARBurning Rock Biotech (China) filings on SEC EDGAR
6
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2020
7
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2021
8
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2022
9
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2023
10
SEC EDGARBurning Rock Biotech (China) 10-K for fiscal 2024