Bion Environmental (BNET) Q4 2024 Earnings Report

Bion Environmental Technologies reported a highly negative bottom line for QQ4 2024, reflecting ongoing operating losses and severely constrained liquidity. The company posted a net loss of approximately $9.69 million and an EBITDA loss near $9.68 million, with operating income of about $218 thousand negative, and a per-share loss of $0.18. Revenue data for the quarter is not disclosed in the provided figures, while gross profit was negative $0.33 thousand (implying either no recognized revenue or atypical reporting of cost of revenue). The company generated negligible operating cash flow (negative $94 thousand) and posted a negative free cash flow of roughly $273 thousand; cash at period end stood at $52 thousand. The balance sheet shows a distressed liquidity position (current ratio of 0.013x, cash ratio ~0.009x) and a substantial stockholders’ deficit (negative equity of about $5.81 million). Total liabilities exceed assets by reported figures, suggesting data inconsistencies or a highly atypical balance sheet presentation, but the overarching signal is one of funding fragility and limited near-term profitability prospects without material balance sheet repair or revenue acceleration. Management commentary from the QQ4 call is not provided in the supplied transcript data, limiting the ability to quote direct guidance or strategic pivots. The near-term investment thesis remains high risk, dependent on external financing or transformative licensing/partnership events and a clear path to revenue growth that materially improves margins.

Key takeaways: (1) Severe profitability and cash-flow pressures persist in QQ4 2024; (2) liquidity is dangerously tight; (3) the company faces meaningful execution and funding risk but may have optionality through licensing, retrofits, and coproduct monetization if growth catalysts materialize.