Slide 1: Q4 2025 Earnings
Q4 2025 Earnings February 17, 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this presentation that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without lim
Slide 3: Disclaimer (Cont'd)
Disclaimer (Cont’d) This presentation contains trademarks, service marks, trade names and copyrights of the Company and other companies which are the property of their respective owners. This presentation discusses certain product candidates that have not yet received marketing authorization or clea
Slide 4: Fourth Quarter Financial Results & Key Metrics
Fourth Quarter Financial Results & Key Metrics Revenue Gross Margin ($ in millions) $32 35 61% 59% 56% 54% 57% 54% 55% $27 30 53% Pharmacy 51% $23 DME $20 25 $18 40% $17 20 $15 $13 15 $8 10 $3 4% $1 5 0 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q
Slide 5: Strategic Highlights
Strategic Highlights Recent Product Launches Bionic Circle (Sep ‘24) Color iLet (Oct ‘24) Libre 3 Plus Integration (Nov ‘24) Bionic Portal Update (May ‘25) Remote monitoring app for Color screen, brighter First insulin pump in the U.S. to integrate Allows HCPs to access real-time family, caregivers,
Slide 6: Full Year 2026 Guidance
Full Year 2026 Guidance 2025 2026 (Actual) (Guidance) Assumptions & Drivers • iLet continues to generate robust demand, driving pump market expansion and taking market share $100.3M $130-135M Total Revenue • Stable utilization and retention rates in DME and pharmacy channel New Patient • Total of 63
Slide 7: Strategic Outlook
Strategic Outlook Revolutionize Care Future Objectives • Mint commercialization1 • Bi-hormonal system commercialization1 • Expansion of sales territories Execute Relentlessly • Growth of pharmacy channel mix • Market and indication expansion 2025 to 2026 Objectives - Primary care - Type 2 insulin-in
Slide 8: Appendix
Beta Bionics Appendix
Slide 9: Quarterly Financial Performance
Quarterly Financial Performance ($ in millions) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Installed Base 1 0 31 486 2,304 4,901 8,034 11,214 15,298 19,151 24,085 29,419 35,011 New Patient Starts 0 31 455 1,818 2,597 3,133 3,180 4,084 3,853 4,934
Slide 10: Reconciliation from Non-GAAP to GAAP Financials
Reconciliation from Non-GAAP to GAAP Financials ($ in millions) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Adjusted EBITDA1 ($8.1) ($7.1) ($7.2) ($6.6) ($7.8) ($10.0) ($8.7) ($11.3) ($15.5) ($14.5) ($12.2) ($10.5) Stock-Based Compensation Expense