$BNR

Burning Rock Biotech Ltd

CIK:0001792267|SEC Filings

Consolidated Statements Of Comprehensive Loss ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Revenues:
Revenues	¥ 539,568	$ 77,157	¥ 515,822	¥ 537,435
Cost of revenues:
Cost of revenues:	(136,654)	(19,542)	(153,422)	(174,208)
Gross Profit	402,914	57,615	362,400	363,227
Operating expenses:
Research and development expenses	(166,494)	(23,808)	(232,290)	(347,016)
Selling and marketing expenses	(165,175)	(23,620)	(190,904)	(247,711)
General and administrative expenses	(126,090)	(18,031)	(261,638)	(437,821)
Impairment loss on long-lived assets	0	0	(35,127)	0
Total operating expenses	(457,759)	(65,459)	(719,959)	(1,032,548)
Loss from operations	(54,845)	(7,844)	(357,559)	(669,321)
Interest income	8,053	1,152	12,212	17,956
Interest expenses	(30)	(4)	0	0
Other income (loss), net	(257)	(37)	4,706	484
Foreign exchange loss, net	(6,711)	(960)	(100)	(420)
Loss before income tax	(53,790)	(7,693)	(340,741)	(651,301)
Income tax expenses	(1,556)	(223)	(5,885)	(2,388)
Net loss	(55,346)	(7,916)	(346,626)	(653,689)
Net loss attributable to Burning Rock Biotech Limited	(55,300)	(7,916)	(346,626)	(653,689)
Other comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustments	(4,089)	(585)	3,485	4,189
Total comprehensive loss	(59,435)	(8,501)	(343,141)	(649,500)
Total comprehensive loss attributable to Burning Rock Biotech Limited	¥ (59,435)	$ (8,501)	¥ (343,141)	¥ (649,500)
Common Class A [Member]
Loss per share for class A and class B ordinary shares:
Loss per share - basic \| (per share)	¥ (0.52)	$ (0.07)	¥ (3.37)	¥ (6.38)
Loss per share - diluted \| (per share)	¥ (0.52)	$ (0.07)	¥ (3.37)	¥ (6.38)
Weighted average shares outstanding used in loss per share computation:
Weighted average shares outstanding used in loss per share - basic	88,979,617	88,979,617	85,610,197	85,071,691
Weighted-average number of ordinary shares outstanding – diluted	88,979,617	88,979,617	85,610,197	85,071,691
Common Class B [Member]
Loss per share for class A and class B ordinary shares:
Loss per share - basic \| (per share)	¥ (0.52)	$ (0.07)	¥ (3.37)	¥ (6.38)
Loss per share - diluted \| (per share)	¥ (0.52)	$ (0.07)	¥ (3.37)	¥ (6.38)
Weighted average shares outstanding used in loss per share computation:
Weighted average shares outstanding used in loss per share - basic	17,324,848	17,324,848	17,324,848	17,324,848
Weighted-average number of ordinary shares outstanding – diluted	17,324,848	17,324,848	17,324,848	17,324,848
Service [Member]
Revenues:
Revenues	¥ 316,111	$ 45,203	¥ 290,738	¥ 345,030
Cost of revenues:
Cost of revenues:	(79,317)	(11,342)	(88,323)	(101,638)
Product [Member]
Revenues:
Revenues	223,457	31,954	225,084	192,405
Cost of revenues:
Cost of revenues:	¥ (57,337)	$ (8,200)	¥ (65,099)	¥ (72,570)

Consolidated Statements Of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities:
Net Income (Loss)	¥ (55,300)	$ (7,916)	¥ (346,626)	¥ (653,689)
Adjustments to reconcile net loss to net cash used in operating activities:
Unrealized loss on foreign currency transactions	6,079	869	0	0
Depreciation and amortization	21,761	3,112	52,200	133,400
Allowance for credit losses	17,182	2,457	10,537	18,502
Impairment for long-lived assets	0	0	35,127	0
Impairment for equity-method investment	0	0	247	0
Inventory reserve	3,160	452	3,205	1,105
Loss (gain) on disposal of equipment	(204)	(29)	2,200	1,008
Share of loss from an equity method investee	0	0	93	361
Share-based compensation	13,876	1,984	155,622	260,719
Change in fair value of convertible note receivable	0	0	5,320	(215)
Non-cash operating lease expenses	24,437	3,494	26,494	35,196
Derecognition of right-of-use asset and lease liability	0	0	(148)	(13)
Changes in operating assets and liabilities:
Accounts receivable	(30,985)	(4,430)	(32,626)	(12,386)
Contract assets	(2,241)	(319)	5,827	(4,011)
Inventories	2,498	357	2,508	57,277
Prepayments and other current and non-current assets	6,447	922	19,282	12,353
Accounts payable	7,176	1,026	18,892	(31,124)
Deferred revenue	(10,076)	(1,441)	(12,642)	(17,096)
Accrued liabilities and other current liabilities	(6,858)	(981)	(8,688)	(19,247)
Customer deposits	0	0	(605)	(606)
Deferred government grants	(229)	(33)	(861)	427
Operating lease liabilities	(25,120)	(3,592)	(27,619)	(37,744)
Net cash used in operating activities	(28,400)	(4,068)	(92,261)	(255,783)
Cash flows from investing activities:
Proceeds from disposal of equipment	858	123	1,565	84
Purchase of property and equipment	(5,249)	(751)	(5,419)	(8,104)
Purchase of intangible assets	0	0	(558)	(1,280)
Net cash used in investing activities	(4,391)	(628)	(4,412)	(9,300)
Cash flows from financing activities:
Refund of consideration for Employee Share Incentive Program	0	0	0	(41,855)
Purchase of treasury stock	0	0	(72)	(6,977)
Proceeds from long-term borrowings	2,000	286	0	0
Repayment of long-term borrowings	(100)	(14)	0	0
Net cash (used in)/generated from financing activities	1,900	272	(72)	(48,832)
Effect of exchange rate on cash, cash equivalents and restricted cash	(10,140)	(1,449)	3,691	3,863
Net decreases in cash, cash equivalents and restricted cash	(41,074)	(5,873)	(93,054)	(310,052)
Cash, cash equivalents and restricted cash at the beginning of year	522,162	74,668	615,216	925,268
Cash, cash equivalents and restricted cash at the end of year	481,088	68,795	522,162	615,216
Supplemental disclosures of cash flow information:
Interest expense paid	30	4	0	0
Income tax expense paid	0	0	0	0
Supplemental disclosures of non-cash information:
Purchase of property and equipment included in prepayments and other non-current assets	179	26	3,206	4,656
Purchase of property and equipment included in accounts payable	1,195	171	1,128	1,762
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	478,392	68,409	519,849	615,096
Restricted cash	2,696	386	2,313	120
Cash, cash equivalents and restricted cash at the end of year	¥ 481,088	$ 68,795	¥ 522,162	¥ 615,216

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 478,392	$ 68,409	¥ 519,849
Restricted cash	2,696	386	2,313
Accounts receivable (net of allowance of RMB45,867 and RMB59,254 (US$8,473) as of December 31, 2024 and 2025, respectively)	169,611	24,254	152,013
Contract assets (net of allowance of RMB61,856 and RMB65,651 (US$9,388) as of December 31, 2024 and 2025, respectively)	12,301	1,759	13,855
Inventories, net	48,576	6,946	53,763
Contract costs	8,399	1,201	8,862
Prepayments and other current assets	18,611	2,661	25,963
Total current assets	738,586	105,616	776,618
Non-current assets:
Property and equipment, net	31,099	4,447	47,152
Intangible assets, net	284	41	421
Operating right-of-use assets	42,774	6,117	53,188
Other non-current assets	7,632	1,091	7,926
Total non-current assets	81,789	11,696	108,687
TOTAL ASSETS	820,375	117,312	885,305
Current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB216,696 and RMB212,161 (US$30,338) as of December 31, 2024 and 2025, respectively):
Accounts payable	40,744	5,826	33,747
Deferred revenue	107,819	15,418	117,895
Accrued liabilities and other current liabilities	80,861	11,563	89,498
Customer deposits	592	85	592
Current portion of long-term borrowings	200	29	0
Current portion of operating lease liabilities	16,762	2,397	24,567
Total current liabilities	246,978	35,318	266,299
Non-current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB36,840 and RMB24,687 (US$3,530) as of December 31, 2024 and 2025, respectively):
Long-term borrowings	1,700	243	0
Other non-current liabilities	11,975	1,712	10,425
Non-current portion of operating lease liabilities	24,458	3,497	27,754
Total non-current liabilities	38,133	5,452	38,179
TOTAL LIABILITIES	285,111	40,770	304,478
Commitments and contingencies
Shareholders' equity:
Treasury stock	(57,193)	(8,178)	(63,264)
Additional paid-in capital	5,010,060	716,429	5,002,255
Accumulated deficits	(4,255,607)	(608,544)	(4,200,261)
Accumulated other comprehensive loss	(162,137)	(23,185)	(158,048)
Total shareholders' equity	535,264	76,542	580,827
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	820,375	117,312	885,305
Common Class A [Member]
Shareholders' equity:
Ordinary shares	120	17	124
Common Class B [Member]
Shareholders' equity:
Ordinary shares	¥ 21	$ 3	¥ 21