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MARKETS / NASDAQ / BNR
NASDAQ · SERVICES-MEDICAL LABORATORIES · SMALL CAP

Burning Rock Biotech Ltd. BNR

8 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 539.6M
▲ 4.6% YoY
CNY -55.3M
CNY -33.7M
In brief

What this company does

Burning Rock Biotech Ltd offers NGS-based cancer therapy selection test products used to assist physicians in selecting therapy for cancer patients. It recognized revenues of RMB515.8 million and RMB539.6 million (US$77.2 million) in 2024 and 2025, respectively. Its commercial infrastructure consists of both a central laboratory model and an in-hospital model. Under the central laboratory model, tissue and liquid biopsy samples are delivered to its central laboratory in Guangzhou for processing, and it issues test reports generally within six days of receipt, 25 days for MRD products and nine days for early detection products. Its central laboratory has a designed annual capacity of approximately 100,000 tests. It has GMP-standard manufacturing facilities in Guangzhou for the manufacturing of its reagent kits, with an aggregate designed annual production capacity of up to 600,000 kits. In 2016 it began offering an in-hospital model, providing turn-key solutions to address Chinese hospitals' challenges in adopting NGS-based cancer therapy selection. As of December 31, 2025, it had partnered with 94 hospitals in 43 cities across China under this model.

Written from the business description in Burning Rock Biotech Ltd's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.

Growth
CNY 539.6M
Revenue, FY2025 · full 8-year series below
Revenue CNY M Net income CNY M
FY2025 · Revenue 539.6 · Net income -55.3
200M400M-400M-800M20182019202020212022202320242025
Compound annual growth
−1.4%
+4.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−10 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -10.2% · Net -10.3%
-50%-100%-150%20182019202020212022202320242025
ROE
FY2025 · ROE -9.9%
-20%-40%-60%20182019202020212022202320242025

Each CNY of equity lost 10 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -33.7
-250.0M-500.0M20182019202020212022202320242025
Net buybacks CNY M Dividends CNY M
FY2021 · Dividends — · Net buybacks 0.0
2.00M-0.25M-0.50M2018201920202021

Total assetsCNY 820.4M
EquityCNY 535.3M
CashCNY 478.4M
Gross debtCNY 1.7M
Net debtCNY -476.7M
Current ratio2.99×

The company holds more cash than debt.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · CNY
row low → row highnegative
Metric 20252024202320222021202020192018
Revenue CNY B0.50.50.50.60.50.40.40.2
Operating income CNY B−0.1−0.4−0.7−1.0−0.8−0.4−0.2−0.2
EBITDA CNY B−0.0−0.3−0.5−0.9−0.7−0.4−0.1−0.1
Income tax CNY B0.00.00.00.00.00.00.00.0
Net income CNY B−0.1−0.3−0.7−1.0−0.8−0.4−0.2−0.2
Free cash flow CNY B−0.0−0.1−0.3−0.5−0.7−0.1−0.3−0.2
EPS, diluted CNY ····0.000.00−14.23−10.38
Dividend / sh CNY ········
Payout %········
ROE %−9.9−51.4−67.9−64.7−37.3−53.3··
Shares out B·····0.000.03·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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Provenance
Company facts, as filed
How we verify · 0 failures in 33 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Medical Laboratories
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsnot stated in the filings
Data on record since2017

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