Bullfrog AI Holdings, Inc. (BFRG) AI Stock Analysis

BullFrog AI Holdings, Inc. operates as a digital biopharmaceutical company in the United States, specializing in artificial intelligence and machine learning applications for medical and healthcare data analysis. Central to its offerings is the bfLEAP platform, which analyzes preclinical and clinical datasets to advance research and development efforts and enhance treatment strategies. The company has secured strategic licensing agreements with George Washington University and Johns Hopkins University. These agreements grant rights to technologies such as siRNA targeting Beta2-spectrin for treating hepatocellular carcinoma and obesity, as well as formulations of Mebendazole for cancer and neoplastic diseases.

Bullfrog AI generated revenue of $10,000 in FY2022, which increased to $65,000 in FY2023 and reached $116,670 in FY2025, reflecting a 2-year revenue CAGR of 241.6%. Gross margin declined from 92.0% in FY2022 and FY2023 to 18.8% in FY2025. Operating losses remained substantial, with operating margins of -8257.7% in FY2023 and -5652.4% in FY2025. Net income was -$5.4M in FY2023 (EPS of -$0.91) and -$6.5M in FY2025 (EPS of -$0.64). For the trailing twelve months ended June 30, 2026, revenue stood at $298,798, supported by quarterly revenue growth of 547.6% year-over-year, while operating margin was -658.9%.

As of June 30, 2026, Bullfrog AI held $6.9M in cash and short-term investments against total debt of $90,138, yielding net cash of $6.8M. Total assets stood at $7.7M and shareholders' equity was $7.0M, resulting in a debt-to-equity ratio of 0.01 and a current ratio of 10.57. Cash generation remains negative, with FY2025 operating cash flow and free cash flow both at -$5.5M. Capital expenditures were $5 in FY2025, and the company's share count increased 232.9% over five years.

Bullfrog AI carries a market cap of $9.5M and an enterprise value of $10.8M. It trades at a price-to-sales multiple of 31.8x and an EV-to-revenue ratio of 36.1x, compared to the median price-to-sales of 4.1x for its US-listed Healthcare peers. Its price-to-book ratio is 2.5x. Over the past year through October 16, 2026, the stock has declined 65.1%, while the S&P 500 (SPY) returned 16.8%. The shares trade 23.3% below their 200-day average and carry a beta of -2.74.

For the fiscal year ending December 31, 2026, analysts estimate revenue of $780,000 and EPS of -$0.37. For the next fiscal year, 1 analyst projects revenue of $5.2M, representing revenue growth of 573.1%, alongside an EPS estimate of -$0.17 (an estimated 54.0% improvement). The company's next earnings date is scheduled for November 13, 2026.

This page is an AI-written research summary of Bullfrog AI Holdings, Inc. (BFRG). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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