BioCardia, Inc.
BCDAHealthcare|Biotechnology|US
$0.85
-0.04 (-4.49%)
DCF Value
$0.21
Tangible Book / Share
$0.22
Cash / Share
$0.34
Financials
Financial Snapshot
Market Cap
$12.9M
Enterprise Value
$9.0M
Revenue (TTM)
$0.00
Net Income (TTM)
-$7.3M
Cash & Investments
$4.1M
Net Cash
$3.8M
Free Cash Flow (TTM)
-$7.6M
Operating CF (TTM)
-$7.6M
Debt/Equity
0.11
Cash Runway & Burn Rate
Cash on Hand
$4.1M
Quarterly Burn
$1.9M
Monthly Burn
$630.3K
Est. Runway
~2.2 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $21.4M | $12.7M | $5.4M | $5.6M | $21.4M | $12.9M | $7.4M | $1.1M | $2.4M | $2.5M | $4.1M | |
| Operating Cash Flow | -$5.5M | -$8.7M | -$11.1M | -$9.4M | -$12.4M | -$10.4M | -$10.6M | -$10.0M | -$8.0M | -$7.4M | -$7.6M | |
| Free Cash Flow | -$5.5M | -$8.8M | -$11.1M | -$9.6M | -$12.4M | -$10.5M | -$10.6M | -$10.0M | -$8.0M | -$7.4M | -$7.6M | |
| Capital Expenditure | $0.00 | -$136.0K | -$66.0K | -$146.0K | -$32.0K | -$116.0K | -$70.0K | -$12.0K | -$6.0K | -$7.0K | -$9.0K | |
| Financing Cash Flow | $4.4M | $144.0K | $3.8M | $9.8M | $28.2M | $1.9M | $5.1M | $3.7M | $9.3M | $7.6M | $10.7M |
R&D Spending
R&D (TTM)
$4.2M
R&D Intensity
—
R&D Growth vs Prior
-15.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $576.0K | $479.0K | $625.0K | $710.0K | $145.0K | $1.0M | $1.4M | $477.0K | $58.0K | $0.00 | $0.00 | |
| R&D Expense | $3.3M | $5.8M | $8.5M | $8.6M | $9.8M | $8.6M | $8.8M | $7.7M | $4.4M | $5.0M | $4.2M | |
| R&D % of Revenue | 578.1% | 1210.6% | 1352.5% | 1205.9% | 6764.8% | 843.2% | 653.4% | 1619.7% | 7563.8% | — | — | |
| SG&A | $4.1M | $6.4M | $5.8M | $6.0M | $5.9M | $5.1M | $0.00 | $0.00 | $0.00 | $3.3M | $2.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $576.0K | $479.0K | $625.0K | $710.0K | $145.0K | $1.0M | $1.4M | $477.0K | $58.0K | $0.00 | $0.00 | |
| Cost of Revenue | $746.0K | $690.0K | $517.0K | $358.0K | $4.0K | $640.0K | $8.8M | $7.7M | $4.4M | $505.0K | $540.0K | |
| Gross Profit | -$170.0K | -$211.0K | $108.0K | $352.0K | $141.0K | $375.0K | -$7.5M | -$7.2M | -$4.3M | -$505.0K | -$540.0K | |
| R&D | $3.3M | $5.8M | $8.5M | $8.6M | $9.8M | $8.6M | $8.8M | $7.7M | $4.4M | $5.0M | $4.2M | |
| SG&A | $4.1M | $6.4M | $5.8M | $6.0M | $5.9M | $5.1M | $0.00 | $0.00 | $0.00 | $3.3M | $2.9M | |
| Operating Income | -$7.6M | -$12.4M | -$14.1M | -$14.2M | -$15.5M | -$12.6M | -$11.9M | -$11.6M | -$8.0M | -$8.3M | -$7.4M | |
| Interest Expense | $1.7M | $0.00 | $0.00 | $112.0K | $3.0K | $0.00 | $6.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$10.3M | -$12.3M | -$14.0M | -$14.7M | -$15.0M | -$12.6M | -$11.9M | -$11.6M | -$7.9M | -$8.2M | -$7.3M | |
| Net Income | -$10.3M | -$12.3M | -$14.0M | -$14.7M | -$15.0M | -$12.6M | -$11.9M | -$11.6M | -$7.9M | -$8.2M | -$7.3M | |
| EPS (Diluted) | -166.33 | -43.50 | -48.80 | -39.15 | -22.20 | -11.19 | -10.05 | -8.19 | -2.90 | -1.23 | -0.76 | |
| EBITDA | -$8.5M | -$12.2M | -$13.9M | -$14.5M | -$14.9M | -$12.6M | -$11.8M | -$11.5M | -$7.9M | -$7.7M | -$7.2M | |
| Shares Out. (M) | 0.06 | 0.28 | 0.28 | 0.38 | 0.67 | 1.13 | 1.18 | 1.41 | 2.74 | 6.67 | 12.09 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $21.4M | $12.7M | $5.4M | $5.6M | $21.4M | $12.9M | $7.4M | $1.1M | $2.4M | $2.5M | $4.1M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $21.9M | $13.3M | $6.2M | $6.4M | $22.7M | $13.5M | $7.9M | $1.5M | $2.6M | $2.7M | $4.3M | |
| Total Assets | $22.1M | $13.5M | $6.4M | $7.7M | $23.4M | $15.7M | $9.8M | $3.0M | $3.7M | $3.4M | $4.8M | |
| Total Current Liabilities | $1.4M | $2.3M | $2.5M | $4.0M | $4.2M | $3.7M | $3.6M | $3.6M | $2.3M | $2.4M | $2.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $1.5M | $2.4M | $2.6M | $5.3M | $4.2M | $5.3M | $4.9M | $4.6M | $2.9M | $2.5M | $2.1M | |
| Stockholders' Equity | $20.6M | $11.1M | $3.8M | $2.4M | $19.2M | $10.4M | $4.9M | -$1.6M | $837.0K | $895.0K | $2.7M | |
| Retained Earnings | -$60.1M | -$72.5M | -$86.4M | -$101.1M | -$116.1M | -$128.7M | -$140.6M | -$152.2M | -$160.1M | -$168.3M | -$172.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.5M | -$8.7M | -$11.1M | -$9.4M | -$12.4M | -$10.4M | -$10.6M | -$10.0M | -$8.0M | -$7.4M | -$7.6M | |
| Capital Expenditure | $0.00 | -$136.0K | -$66.0K | -$146.0K | -$32.0K | -$116.0K | -$70.0K | -$12.0K | -$6.0K | -$7.0K | -$9.0K | |
| Free Cash Flow | -$5.5M | -$8.8M | -$11.1M | -$9.6M | -$12.4M | -$10.5M | -$10.6M | -$10.0M | -$8.0M | -$7.4M | -$7.6M | |
| Investing Cash Flow | $18.9M | -$136.0K | -$66.0K | -$146.0K | -$32.0K | -$116.0K | -$70.0K | -$12.0K | -$6.0K | -$7.0K | -$9.0K | |
| Financing Cash Flow | $4.4M | $144.0K | $3.8M | $9.8M | $28.2M | $1.9M | $5.1M | $3.7M | $9.3M | $7.6M | $10.7M | |
| Issuance of Stock | $22.0K | $144.0K | $4.0M | $10.5M | $30.5M | $2.0M | $5.5M | $4.4M | $10.6M | $7.8M | $11.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $4.4M | $0.00 | $0.00 | $625.0K | $506.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $942.0K | $2.7M | $2.8M | $2.7M | $3.0M | $1.7M | $1.2M | $1.0M | $741.0K | $430.0K | $384.0K | |
| Net Change in Cash | $17.8M | -$8.7M | -$7.3M | $227.0K | $15.8M | -$8.5M | -$5.5M | -$6.3M | $1.3M | $125.0K | $3.1M |
Dilution Tracker
Shares outstanding grew 888.3% over 5 years — significant dilution
Shares Outstanding
15M
5-Year Share Growth
+888.3%
Stock Issuance (TTM)
$11.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.06 | 0.28 | 0.28 | 0.38 | 0.67 | 1.13 | 1.18 | 1.41 | 2.74 | 6.67 | 12.09 | |
| Change vs Prior % | — | 356.0% | 0.6% | 32.4% | 79.3% | 67.2% | 4.7% | 19.6% | 94.3% | 143.0% | 81.4% | |
| Stock Issuance | $22.0K | $144.0K | $4.0M | $10.5M | $30.5M | $2.0M | $5.5M | $4.4M | $10.6M | $7.8M | $11.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $942.0K | $2.7M | $2.8M | $2.7M | $3.0M | $1.7M | $1.2M | $1.0M | $741.0K | $430.0K | $384.0K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -29.5% | -44.1% | 17.3% | 49.6% | 97.2% | 36.9% | -553.4% | -1519.7% | -7463.8% | — | — | |
| Operating Margin % | -1320.8% | -2589.8% | -2256.3% | -2001.8% | -10709.7% | -1244.3% | -880.3% | -2441.1% | -13794.8% | — | — | |
| Net Margin % | -1789.9% | -2569.5% | -2237.9% | -2071.7% | -10347.6% | -1243.4% | -880.7% | -2425.8% | -13700.0% | — | — | |
| EBITDA Margin % | -1481.8% | -2553.2% | -2223.8% | -2040.3% | -10298.6% | -1238.4% | -874.2% | -2408.2% | -13584.5% | — | — | |
| FCF Margin % | -958.7% | -1838.6% | -1781.6% | -1350.8% | -8544.1% | -1032.7% | -786.3% | -2093.5% | -13848.3% | — | — | |
| ROE % | -50.1% | -110.6% | -368.9% | -620.6% | -78.2% | -121.6% | -243.4% | 721.8% | -949.3% | -919.3% | -569.4% | |
| ROA % | -46.7% | -90.9% | -218.0% | -191.6% | -64.1% | -80.3% | -121.6% | -387.4% | -213.4% | -241.1% | -154.3% | |
| ROIC % | -36.9% | -110.7% | -361.5% | -338.2% | -78.5% | -103.2% | -182.5% | 4057.1% | -447.5% | -581.7% | -246.9% | |
| R&D / Revenue % | 578.1% | 1210.6% | 1352.5% | 1205.9% | 6764.8% | 843.2% | 653.4% | 1619.7% | 7563.8% | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.4% | -16.8% | 30.5% | 13.6% | -79.6% | 600.0% | 33.2% | -64.7% | -87.8% | -100.0% | |
| Gross Profit | 89.9% | -24.1% | 151.2% | 225.9% | -59.9% | 166.0% | -2095.2% | 3.1% | 40.3% | 88.3% | |
| Operating Income | -2485.0% | -63.1% | -13.7% | -0.8% | -9.3% | 18.7% | 5.8% | 2.2% | 31.3% | -3.5% | |
| Net Income | -3301.9% | -19.4% | -13.6% | -5.2% | -2.0% | 15.9% | 5.7% | 2.8% | 31.3% | -3.5% | |
| EPS (Diluted) | -697.0% | 73.8% | -12.2% | 19.8% | 43.3% | 49.6% | 10.2% | 18.5% | 64.6% | 57.6% | |
| Operating Cash Flow | -1768.3% | -57.0% | -27.7% | 14.7% | -30.8% | 16.1% | -1.9% | 5.6% | 19.5% | 7.4% | |
| Free Cash Flow | -2780.6% | -59.5% | -26.4% | 13.9% | -29.2% | 15.4% | -1.4% | 6.1% | 19.6% | 7.3% | |
| R&D Expense | 119.4% | 74.1% | 45.8% | 1.3% | 14.6% | -12.8% | 3.2% | -12.5% | -43.2% | 13.1% | |
| SG&A Expense | 1974.7% | 55.7% | -10.0% | 4.3% | -2.4% | -13.2% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Total Assets | 59.1% | -38.7% | -52.6% | 19.7% | 205.1% | -32.9% | -37.7% | -69.5% | 24.7% | -8.4% | |
| Book Value / Share | -72.3% | -88.1% | -66.1% | -52.8% | 351.3% | -67.6% | -55.0% | -127.4% | 126.9% | -56.0% | |
| Debt | -100.0% | 0.0% | 0.0% | 0.0% | -46.2% | 204.2% | -12.7% | -19.4% | -27.7% | -44.5% | |
| Diluted Shares | 436.3% | 356.0% | 0.6% | 32.4% | 79.3% | 67.2% | 4.7% | 19.6% | 94.3% | 143.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High29.48 / 103.14 / 724.36
P/B3.81
10Y Low / Med / High5.48 / 15.81 / 36.43
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High29.93 / 86.18 / 580.96
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.21
Tangible Book / Share
$0.22
Net Current Assets / Share
$0.15
Graham Net-Net
$0.17
Cash / Share
$0.34
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -31.57 | -21.88 | -9.96 | -4.23 | -7.01 | -7.80 | -9.36 | -1.22 | -0.75 | -1.02 | -1.12 | |
| P/S Ratio | 565.08 | 561.65 | 221.06 | 87.77 | 724.36 | 97.02 | 82.15 | 29.48 | 103.14 | 0.00 | 0.00 | |
| P/B Ratio | 15.81 | 24.18 | 36.43 | 26.29 | 5.48 | 9.49 | 22.71 | -8.77 | 7.15 | 9.31 | 3.81 | |
| EV/EBITDA | -35.63 | -20.96 | -9.55 | -3.99 | -5.64 | -6.96 | -8.91 | -1.24 | -0.58 | -0.82 | -1.26 | |
| EV/Revenue | 528.01 | 535.16 | 212.48 | 81.51 | 580.96 | 86.18 | 77.91 | 29.93 | 78.65 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-51.48
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $50.0K | $50.0K | $4.2M |
| Net Income | -$4.2M | -$3.4M | -$2.6M |
| EPS | $-0.63 | $-0.52 | $-0.40 |
| # Analysts (EPS) | 1 | 1 | 2 |
Revenue Segments
By Product
| Segment | 2019 | 2020 | 2022 | 2023 |
|---|---|---|---|---|
| License | $500.0K | $500.0K | — | — |
| Service | $191.0K | $183.0K | — | — |
| Collaboration Agreement | — | — | $1.3M | $477.0K |
| Product | — | — | $3.0K | — |