Bolt Biotherapeutics, Inc. (BOLT) Income Statement
BOLT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBOLT revenue and net income
Where BOLT's revenue goes
2025Each bar shows an amount and its share of revenue. BOLT kept −433.7% of revenue as net income.
BOLT profit margins
BOLT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.1% | +10.3% | +101.6% | — |
| Gross profit | −19.3% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BOLT quarterly EPS vs estimates
Bolt Biotherapeutics beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 11, 2026 (estimate $-2.40).
BOLT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.7M | $7.7M | $7.9M | $5.7M | $1.3M | $231,000 | $215,000 | $0 |
| Cost of revenue | $1.5M | $2.2M | $61.5M | $73.1M | $75.7M | $40.4M | $26.0M | $302,000 |
| Gross profit | $6.2M | $7.7M | −$53.7M | −$67.4M | −$74.4M | −$40.1M | $215,000 | −$302,000 |
| Research & development | $28.5M | $57.5M | $61.5M | $73.1M | $75.7M | $40.4M | $26.0M | $9.4M |
| Sales, general & admin | $13.8M | $18.5M | $22.5M | $22.9M | $18.4M | $9.1M | $5.2M | $2.2M |
| Total operating expenses | $40.8M | $80.7M | $22.5M | $22.9M | $18.4M | $9.1M | $31.2M | $11.6M |
| Operating income | −$34.6M | −$73.0M | −$76.2M | −$90.3M | −$92.8M | −$49.2M | −$31.0M | −$11.6M |
| Interest income | $2.5M | $5.3M | $6.2M | $2.2M | $281,000 | $199,000 | $524,000 | $193,000 |
| Interest expense | — | — | — | $2.2M | $5.8M | $0 | $0 | $0 |
| Income before taxes | −$33.4M | −$63.1M | −$69.2M | −$88.1M | −$98.6M | −$60.7M | −$30.5M | −$11.6M |
| Income taxes | — | — | $1.7M | −$2.2M | $5.8M | $11.5M | −$482,000 | $40,000 |
| Net income | −$33.4M | −$63.1M | −$69.2M | −$88.1M | −$98.6M | −$60.7M | −$30.5M | −$11.6M |
| EBITDA | −$32.1M | −$66.5M | −$67.3M | −$86.4M | −$97.4M | −$48.6M | −$30.6M | −$11.3M |
| EPS (diluted) | −$16.96 | −$25.22 | −$27.67 | −$37.13 | −$43.22 | −$19.46 | −$11.85 | −$3.59 |
| Gross margin | 80.6% | 100.0% | −681.4% | −1,176.4% | −5,904.4% | −17,370.6% | 100.0% | — |
| Operating margin | −450.1% | −949.9% | −967.4% | −1,576.6% | −7,364.1% | −21,290.9% | −14,404.2% | — |
| Net margin | −433.7% | −820.8% | −878.6% | −1,537.8% | −7,824.7% | −26,289.2% | −14,180.0% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5,000 | $26,000 | $2.5M | $2.2M | $1.8M | $1.2M | $24.1M | $1.1M | $1.3M | $5.3M | $2.1M | $2.5M |
| Cost of revenue | $0 | $203,000 | $255,000 | $290,000 | $0 | $0 | $426,000 | $13.8M | $15.4M | $458,000 | $16.3M | $15.0M |
| Gross profit | $5,000 | −$177,000 | $2.5M | $2.2M | $1.8M | $1.2M | −$426,000 | −$12.6M | −$14.2M | $4.8M | −$14.2M | −$12.4M |
| Research & development | $5.1M | $4.6M | $5.0M | $6.5M | $7.5M | $9.5M | $11.3M | $13.8M | $15.4M | $16.1M | $16.3M | $15.0M |
| Sales, general & admin | $2.4M | $2.8M | $3.1M | $3.3M | $3.5M | $3.8M | $3.9M | $3.8M | $4.9M | $5.8M | $5.5M | $5.8M |
| Total operating expenses | $8.4M | $7.4M | $8.1M | $9.9M | $11.0M | $13.3M | $15.2M | $3.8M | $8.4M | $21.9M | $5.5M | $5.8M |
| Operating income | −$8.4M | −$7.6M | −$5.6M | −$7.7M | −$9.2M | −$12.1M | −$15.7M | −$16.4M | −$22.6M | −$17.1M | −$19.8M | −$18.2M |
| Interest income | $178,000 | $276,000 | $367,000 | $477,000 | $599,000 | $1.1M | $980,000 | $1.3M | $1.4M | $1.6M | $1.9M | $1.9M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $1.4M | — |
| Income before taxes | −$7.7M | −$7.2M | −$6.6M | −$7.1M | −$8.6M | −$11.0M | −$15.9M | −$15.2M | −$21.2M | −$10.8M | −$17.9M | −$16.3M |
| Income taxes | — | — | — | — | — | — | — | — | — | $414,724 | $1.9M | −$462,000 |
| Net income | −$7.7M | −$7.2M | −$6.6M | −$7.1M | −$8.6M | −$11.0M | −$15.9M | −$15.2M | −$21.2M | −$10.8M | −$17.9M | −$16.3M |
| EBITDA | −$7.5M | −$7.0M | −$6.4M | −$6.9M | −$8.2M | −$10.6M | −$15.5M | −$14.7M | −$18.6M | −$10.4M | −$17.4M | −$15.8M |
| EPS (diluted) | −$4.57 | −$4.31 | −$2.98 | −$3.72 | −$4.46 | −$5.80 | −$0.42 | −$8.00 | −$11.20 | −$5.60 | −$0.47 | −$8.60 |
| Gross margin | 100.0% | −680.8% | 100.0% | 100.0% | 100.0% | 100.0% | −1.8% | −1,108.2% | −1,110.4% | 91.3% | −681.3% | −491.4% |
| Operating margin | −167,480.0% | −29,234.6% | −224.2% | −355.1% | −510.5% | −991.4% | −65.0% | −1,441.1% | −1,772.3% | −324.1% | −946.2% | −719.3% |
| Net margin | −154,400.0% | −27,861.5% | −265.2% | −329.4% | −474.6% | −903.4% | −66.1% | −1,330.1% | −1,662.4% | −205.0% | −857.0% | −643.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BOLT's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BOLT financial results
In fiscal year 2025 (ended December 31, 2025), Bolt Biotherapeutics reported revenue of $7.7 million, up 0.1% from the year before. It had a net loss of $33.4 million, a net profit margin of −433.7%. Diluted earnings per share came to −$16.96. Over five years revenue grew at an average rate of 101.6% a year.
See the BOLT stock overview for the latest quote and news, or the BOLT chart for price history and technical indicators.
BOLT income statement FAQ
What is Bolt Biotherapeutics's annual revenue?
Bolt Biotherapeutics reported total revenue of $7.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.1% from $7.7 million the previous year.
Is Bolt Biotherapeutics profitable?
No. Bolt Biotherapeutics reported a net loss of $33.4 million in fiscal 2025, a net profit margin of −433.7%; its operating margin was −450.1%.
What is Bolt Biotherapeutics's gross margin?
Bolt Biotherapeutics's gross margin was 80.6% in fiscal 2025: for every $100 of revenue, Bolt Biotherapeutics kept $81 after the direct cost of its products and services.
How much does Bolt Biotherapeutics spend on research and development?
Bolt Biotherapeutics spent $28.5 million on research and development in fiscal 2025, 370.8% of revenue.
How fast is Bolt Biotherapeutics growing?
Revenue grew 101.6% a year on average over the last five fiscal years, from $0.2 million to $7.7 million.
What are Bolt Biotherapeutics's earnings per share?
Bolt Biotherapeutics earned $-16.96 per diluted share in fiscal 2025, compared with $-25.22 a year earlier.
When will Bolt Biotherapeutics report its next earnings?
Bolt Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Bolt Biotherapeutics's fiscal year end?
Bolt Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.