Bion Environmental Technologies reported a loss for QQ3 2025 driven by high operating expenses and limited revenue visibility. The quarter shows an EBITDA of -476,409 and a net income of -511,156 with an EPS of -0.01, while revenue remains not disclosed in the quarter data. The balance sheet highlights severe liquidity strain: cash and cash equivalents of 5,467 USD against current liabilities of 6,797,501 USD, a current ratio of 0.00248 and a cash ratio of 0.000804, exposing the company to near-term funding risk. Total stockholders’ equity sits at -6.82 million, and total liabilities equal approximately 6.80 million, with long-term solvency concerns reflected by a debt level of 2.96 million and a net debt position of 2.96 million.
Despite a bleak near-term liquidity picture, the company operates in a niche environmental technology space focused on remediating CAFO waste streams and recovering coproducts (renewable energy, water, ammonia nitrogen, phosphorus). Management commentary (where available) and the business model imply potential upside through licensing, joint ventures, or deployment of retrofit systems; however, there is no reported revenue in the QQ3 2025 data and no earnings-call transcript provided in the dataset to confirm management’s strategy or guidance. Investors should weigh the significant cash burn and negative equity against the potential long-term IP/licensing value and any future commercialization milestones.
Overall investment stance: high risk with meaningful downside unless a clear path to sustainable revenue, cash flow generation, or a compelling licensing/partnership deal emerges. Monitoring will focus on any liquidity enhancements, capital-raising actions, and progress toward revenue generation or licensing milestones.
Key Performance Indicators
Operating Income
-480.88K
QoQ: -39.91% | YoY:9.80%
Net Income
-511.16K
QoQ: -36.54% | YoY:5.02%
EPS
-0.01
QoQ: -51.52% | YoY:0.00%
Revenue Trend
Margin Analysis
Key Insights
Operating income: -480,875; YoY: 9.80% (implied from reported metric, though exact prior-quarter data not disclosed); QoQ: -39.91%
Net income: -511,156; YoY: 5.02%; QoQ: -36.54%
EBITDA: -476,409; YoY/QoQ not provided in the dataset
EPS (diluted): -0.01; YoY: 0.00%; QoQ: -51.52%
Gross profit and gross margin: not reported (null)
Financial Highlights
Overview of the quarter's key metrics (USD):
- Operating income: -480,875; YoY: 9.80% (implied from reported metric, though exact prior-quarter data not disclosed); QoQ: -39.91%
- Net income: -511,156; YoY: 5.02%; QoQ: -36.54%
- EBITDA: -476,409; YoY/QoQ not provided in the dataset
- EPS (diluted): -0.01; YoY: 0.00%; QoQ: -51.52%
- Gross profit and gross margin: not reported (null)
- Revenue: not disclosed for QQ3 2025 (null); no visible topline data in the quarter
- Cash and cash equivalents: 5,467 USD
- Total current assets: 16,845 USD; Total assets: 16,845 USD (accounting/recording anomalies aside, indicates liquidity constraint)
- Current liabilities: 6,797,501 USD; Total liabilities: 6,797,501 USD
- Short-term debt: 2,963,068 USD; Total debt: 2,963,068 USD; Net debt: 2,957,601 USD
- Share count: 56,597,169 weighted-average shares outstanding
- Shareholders’ equity: -6,818,229 USD
- Price/book value: -0.785; Enterprise value multiple: -14.73; Price-to-book negative signals equity position and market valuation challenges
- Liquidity ratios: current ratio 0.00248; quick ratio 0.00248; cash ratio 0.000804
- Debt metrics: debt ratio 102.87; debt/equity -0.254; enterprise value/EBITDA not materially meaningful given negative EBITDA
Income Statement
Metric
Value
YoY Change
QoQ Change
Operating Income
-480.88K
9.80%
-39.91%
Net Income
-511.16K
5.02%
-36.54%
EPS
-0.01
0.00%
-51.52%
Key Financial Ratios
currentRatio
0
debtEquityRatio
-0.25
priceToBookRatio
-0.79
Net Income vs. Revenue
Expense Breakdown
Management Commentary
Management transcript content is not available in the provided data. Consequently, no verbatim quotes or theme-based synthesis from an earnings call can be extracted. Note to readers: if a transcript becomes available, add sections on strategy (e.g., licensing pipeline, partnerships, capital strategy), operations (deployment of CAFO retrofit systems, installation pipeline), and market conditions (regulatory trends, CAFO industry dynamics).
—
—
Forward Guidance
There is no explicit management guidance published in the provided dataset for QQ4 2025 or beyond. Given the current liquidity constraints, any credible forward guidance would likely hinge on one or more of the following: (1) securing licensing agreements or joint ventures to monetize IP without immediate cash outlays, (2) securing new equity or debt financing to shore up the balance sheet, and (3) securing pilot deployments or retrofit contracts that could translate into revenue. Investors should monitor the following indicators for achievability: announced licensing milestones or partner discussions, any positive updates on regulatory approvals or permits enabling CAFO retrofits, and the company’s ability to reduce cash burn through operational improvements or cost controls. Absent a clear revenue-generating plan or material funding, near-term guidance would likely remain cautious or non-committal.
Competitive Position
Company
Gross Margin
Operating Margin
Return on Equity
P/E Ratio
BNET Focus
0.00%
0.00%
0.00%
0.00%
SSHPF
27.10%
-0.30%
-5.24%
-4.52%
EESH
3.23%
142.21%
-49.50%
-15.50%
EAWD
0.00%
0.00%
47.90%
-75.10%
TOMZ
61.40%
5.86%
0.80%
67.26%
Gross Profit Margin
Operating Profit Margin
Return on Equity
P/E Ratio Comparison
Investment Outlook
Given the QQ3 2025 results, the investment outlook for BNET is high risk. The company faces acute liquidity challenges, negative equity, and no disclosed topline revenue for the quarter, despite a positive operating income YoY metric reported in the broader ratio set (though current quarter data indicates significant losses). The potential upside would derive from successful monetization of IP through licensing deals, pilot deployments, or a transformative capital raise that stabilizes the balance sheet and funds commercialization efforts. Absent concrete revenue milestones or credible financing plans, the stock trades at a substantial discount to intrinsic IP potential, but the risk of further equity dilution and continued cash burn remains elevated. Investors should require clarity on funding plans, a path to revenue generation, and milestones from any forthcoming earnings call or management disclosure before committing capital.
Key Investment Factors
Growth Potential
Long-term opportunities center on monetizing Bion’s environmental remediation IP through licensing, retrofit deployments, and joint ventures targeting CAFO waste treatment and nutrient recovery. Potential growth hinges on: (a) gaining strategic partnerships to scale deployments, (b) regulatory tailwinds promoting waste remediation and water/nutrient recovery, and (c) international expansion to sectors with CAFO operations outside the United States. Positive milestones would include signed licensing deals, announced pilot projects, or capital-efficient deployment agreements.
Profitability Risk
Key risks include: (a) severe liquidity and near-term funding needs evidenced by minimal cash (USD 5,467) against current liabilities (USD 6.8 million) and a current ratio of 0.00248; (b) negative stockholders’ equity and elevated debt levels (short-term debt USD 2.96 million) raising financial distress risk and potential covenants concerns; (c) lack of reported revenue in QQ3 2025, creating a fragile revenue trajectory; (d) reliance on CAFO market cycles and regulatory changes; (e) OTC listing status, which can limit liquidity and analyst coverage; (f) potential need for equity dilution to fund operations.
Financial Position
Balance sheet shows total assets of USD 16,845 with negative shareholders’ equity of USD -6.82 million and liabilities of USD 6.80 million. Net debt of USD 2.96 million further pressures cash flow, while earnings show a continued loss (net income of -511,156; EBITDA -476,409). Cash burn, liquidity risk, and weak capitalization imply limited financial flexibility without external financing or monetization of IP/licensing agreements.
SWOT Analysis
Strengths
Focused environmental technology with patented and proprietary processes for CAFO waste remediation and coproduct recovery (renewable energy, water, nutrients).
Niche market positioning with potential licensing and joint-venture opportunities to monetize IP without proportional capex outlays.
Weaknesses
Severe near-term liquidity constraints; cash balance is extremely limited (USD 5,467) with current liabilities of USD 6.8 million.
Negative stockholders’ equity and a high debt burden; no reported revenue for QQ3 2025; significant quarterly losses (EBITDA -476,409; Net income -511,156).
OTC-listed with limited market liquidity and potential coverage gaps among investors and lenders.
Opportunities
Licensing revenue, strategic partnerships, and joint ventures could unlock value without immediate capex.
Regulatory momentum around environmental remediation and nutrient recovery could expand addressable markets internationally.
Threats
Liquidity risk and dependence on financing or equity raises; dilution risk for existing shareholders.
Revenue visibility remains uncertain; macro CAFO industry cycles and regulatory changes could impact demand.
Competitive environment in environmental tech and alternative remediation solutions; funding markets for microcaps are volatile.