Bion Environmental Technologies reported a Q3 2024 period with no disclosed revenue and a negative earnings profile, underscoring a company still in a pre-revenue or very early-revenue phase despite meaningful R&D and G&A investments. The quarter shows an EBITDA of -$533.7k and a net loss of -$538.1k, driven by sizable general and administrative expenses (G&A of $526.6k) and ongoing operating costs. With cash and cash equivalents of $49.7k at period end and a current ratio of 0.0396, liquidity is extremely tight, highlighting a meaningful funding risk unless revenue or non-dilutive capital to support operations materializes.
The balance sheet shows total assets of approximately $10.07 million and total liabilities around $6.18 million, yielding a stockholders’ equity base of about $3.86 million but a historically large deficit in retained earnings (-$129.24 million). The company recently reported negative free cash flow of about -$510.6k, a -$304.5k operating cash flow, and capital expenditures of roughly -$206.1k for the quarter, implying ongoing cash burn absent a material near-term revenue ramp or licensing/licensing-like arrangements.
Management commentary and transcript data are not provided in the current dataset, limiting the ability to quote call-specific guidance. Given the stated financials, the investment thesis remains highly contingent on the company converting its environmental remediation technology into revenue through deployments, licenses, or partnerships, while simultaneously stabilizing liquidity and reducing cash burn. In the near term, investors should monitor any forward-looking disclosures around customer pipeline, partnerships, and capital-raising activity that could alter the liquidity and growth trajectory.