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.
Key Performance Indicators
Operating Income
-218.81K
QoQ: 58.96% | YoY:70.09%
Net Income
-9.69M
QoQ: -1 700.41% | YoY:-1 321.05%
EPS
-0.18
QoQ: -1 700.00% | YoY:-1 150.00%
Revenue Trend
Margin Analysis
Key Insights
Total assets: $112,252
Total current assets: $74,935
Cash and cash equivalents: $52,212; Short-term investments: $6,000; Total current liabilities: $5,757,613; Long-term debt: $125,567; Total debt: $2,289,306; Net debt: $2,237,094
Retained earnings: -$138,927,778; Accumulated OCI: -$504,650; Total stockholders’ equity: -$5,808,501; Other stockholders’ equity: $133,623,927.
Financial Highlights
Revenue: Not disclosed in the provided data (revenue field null). Gross profit: -$331.00; Gross profit margin: not calculable from the data; YoY gross profit change: +28.04%; QoQ gross profit change: +0.00%.
EBITDA: -$9,678,859.00; EBITDARatio: not provided.
Cash flow: Net cash provided by operating activities: -$94,017.00; Net cash used in investing activities: -$178,506.00; Free cash flow: -$273,496.00; Net change in cash: $2,477.00; Cash at end of period: $52,212.00.
Balance sheet highlights (selected):
- Total assets: $112,252
- Total current assets: $74,935
- Cash and cash equivalents: $52,212; Short-term investments: $6,000; Total current liabilities: $5,757,613; Long-term debt: $125,567; Total debt: $2,289,306; Net debt: $2,237,094
- Retained earnings: -$138,927,778; Accumulated OCI: -$504,650; Total stockholders’ equity: -$5,808,501; Other stockholders’ equity: $133,623,927.
Notes: The balance sheet presents notable inconsistencies (e.g., total assets far smaller than total liabilities; substantial positive “othertotalStockholdersEquity” amid a negative total stockholders’ equity), suggesting potential data quality issues or unusual accounting classifications in the provided figures. Investors should treat the liquidity and equity position as highly fragile absent corroborating, reconciled disclosures.
Income Statement
Metric
Value
YoY Change
QoQ Change
Gross Profit
-331.00
28.04%
0.00%
Operating Income
-218.81K
70.09%
58.96%
Net Income
-9.69M
-1 321.05%
-1 700.41%
EPS
-0.18
-1 150.00%
-1 700.00%
Key Financial Ratios
currentRatio
0.01
returnOnAssets
-8631%
returnOnEquity
166.8%
debtEquityRatio
-0.39
operatingCashFlowPerShare
$-0.02
freeCashFlowPerShare
$-0.07
priceToBookRatio
-0.29
priceEarningsRatio
-0.04
Net Income vs. Revenue
Expense Breakdown
Management Commentary
No QQ4 2024 earnings call transcript content was provided in the data set. Consequently, no management quotes or thematic highlights from the call can be cited here. If you supply the transcript or key excerpts, I can extract and organize management insights by theme (strategy, operations, market conditions) with context and significance.
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Forward Guidance
There is no explicit forward guidance included in the provided data. Given the current quarter’s material losses and cash burn, any near-term guidance would hinge on a credible plan to restore profitability and liquidity (e.g., revenue-generation milestones, licensing agreements, cost reductions, or financing steps). Absent concrete guidance, investors should monitor: (1) progress toward any licensing or retrofit deals with CAFO operators, (2) developments in capital-raising activities to support operations and growth initiatives, and (3) changes in regulatory or environmental mandates that could influence demand for Bion’s remediation technologies.
Competitive Position
Company
Gross Margin
Operating Margin
Return on Equity
P/E Ratio
BNET Focus
0.00%
0.00%
1.67%
-4.35%
SSHPF
-9.30%
-17.90%
-40.30%
-1.94%
EAWD
69.20%
-6.39%
1.44%
-5.34%
TOMZ
48.80%
-76.70%
-14.70%
-4.10%
PGTK
31.80%
-2.89%
6.13%
-1.34%
Gross Profit Margin
Operating Profit Margin
Return on Equity
P/E Ratio Comparison
Investment Outlook
Given QQ4 2024 results, the investment outlook for BNET is high risk and speculative. The absence of disclosed revenue and the severity of losses underscore the need for a credible path to profitability and solvency. Short-term catalysts would include concrete licensing deals, signed retrofit contracts, or a debt/equity financing package that meaningfully strengthens the balance sheet and unlocks growth. In the absence of such catalysts, the stock faces continued liquidity pressure and equity erosion. Long-term upside remains contingent on successful commercialization of the CAFO remediation technology and the ability to monetize coproducts; this hinges on execution, partner support, and favorable regulatory dynamics.
Key Investment Factors
Growth Potential
Long-term upside rests on monetizing Bion’s CAFO wastewater remediation technology through new retrofit projects, licensing agreements, and joint ventures that monetize coproducts (renewable energy, water, and nutrients). Industry trends toward stricter environmental controls could create demand for advanced waste-treatment solutions, potentially enabling revenue expansion if the company can scale deployment and form strategic partnerships.
Profitability Risk
Key risks include severe near-term liquidity constraints, negative shareholder equity, and reliance on external financing. Execution risk is elevated given the need to sign and scale licensing/retrofit deals. Regulatory and environmental policy shifts could alter CAFO waste-management economics. Data quality concerns in the reported financials add an additional layer of uncertainty for investors evaluating true cash flow and asset values.
Financial Position
The company shows a negative equity position and thin liquidity (cash ~ $52k; current ratio ~0.013x). Debt levels ($2.29M total debt; $2.24M net debt) are substantial relative to assets ($112k total assets reported). The balance sheet raises concerns about capital structure and sustainability without capital raises or meaningful revenue growth.
SWOT Analysis
Strengths
Patented and proprietary remediation technology aimed at environmental problems in CAFOs (landmark capability to recover coproducts such as renewable energy, water, ammonia nitrogen, and phosphorus).
Strategic focus on retrofit of existing CAFOs and development of waste-treatment facilities, which could create recurring retrofit opportunities and potential licensing/joint-venture revenue streams.
Weaknesses
Sustained, material losses with negative net income and negative cash flow from operations; questionable revenue recognition in the disclosed data.
Severe liquidity constraints and a stockholders’ deficit; weak balance sheet with potential inconsistencies in reported assets and liabilities.
Over-reliance on external financing or transformative commercial deals to achieve sustainability; limited visible near-term profitability milestones.
Opportunities
Regulatory pushes toward enhanced environmental compliance may increase demand for advanced waste remediation technologies.
Licensing, JV arrangements, and retrofitting partnerships could unlock scalable revenue and coproduct monetization (energy, water, nutrients).
Potential to differentiate through environmental attributes and sustainability-focused capital allocation in agribusiness supply chains.
Threats
Liquidity risk and the potential need for dilutive financing; market skepticism due to persistent losses.
Regulatory or technological competition in the environmental remediation space; potential delays or failures in partner transactions could stall revenue timelines.
Accounting and data integrity concerns could undermine investor confidence and affect financing terms.