Beta Bionics, Inc. Revenue Disclosure
The Company disaggregates net sales by product category and reimbursement channel, which the Company believes provides a meaningful depiction of how the nature, timing and uncertainty of net sales are affected by economic factors.
During the year ended December 31, 2025 and 2024, the Company’s revenues were predominantly generated from sales of the iLet. The iLet requires the use of separately purchased single-use products which include cartridges for storing and delivering insulin, and infusion sets that connect the iLet to the user’s body. These single-use products generate recurring revenue for the Company, as these are typically replaced by the end-user every 2-3 days or as directed by a healthcare provider.
The Company’s customers are distributors and pharmacies who sell these products to insulin-requiring PWD, through the durable medical equipment (“DME”) and the pharmacy benefit plan (“PBP”) reimbursement channels, which entail differing payment outlays. For the year ended December 31, 2025 and 2024, the majority of the Company’s sales were through the DME channel.
The following table summarizes the Company’s disaggregated revenues:
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|
Year Ended December 31, |
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2025 |
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2024 |
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(in thousands) |
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DME channel |
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|
|
|
|
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||
iLet(1) |
|
$ |
52,055 |
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|
$ |
46,617 |
|
Single-use products |
|
|
23,765 |
|
|
|
12,189 |
|
Total DME channel |
|
|
75,820 |
|
|
|
58,806 |
|
|
|
|
|
|
|
|
||
PBP channel |
|
|
|
|
|
|
||
iLet(1) |
|
|
692 |
|
|
|
2,099 |
|
Single-use products |
|
|
23,739 |
|
|
|
4,219 |
|
Total PBP channel |
|
|
24,431 |
|
|
|
6,318 |
|
Total net sales |
|
$ |
100,251 |
|
|
$ |
65,124 |
|
The Company recognizes revenue at a point in time once control has transferred to the customer, as well as over time for performance obligation to provide ongoing services such as unspecified software updates. Revenue recognized during the year ended December 31, 2025 that was included in the deferred revenue balance as of December 31, 2024 was approximately $0.8 million.
At December 31, 2025 and 2024, $4.9 million and $2.8 million, respectively, was allocated to performance obligations that were not yet satisfied and is recorded in deferred revenue on the balance sheet. These are primarily associated with the unspecified software updates promised to users and the user’s access to the mobile application. At December 31, 2025 and 2024, of the performance obligations not yet satisfied, $1.6 million and $0.9 million, respectively, is expected to be recognized as revenue in the next 12 months, with the remainder expected to be recognized thereafter.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.