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Side-by-side financial comparison of Beta Bionics, Inc. (BBNX) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
Beta Bionics, Inc. is the larger business by last-quarter revenue ($27.6M vs $25.8M, roughly 1.1× KKR Real Estate Finance Trust Inc.). Beta Bionics, Inc. runs the higher net margin — -79.3% vs -101.7%, a 22.5% gap on every dollar of revenue. On growth, Beta Bionics, Inc. posted the faster year-over-year revenue change (56.6% vs -26.6%).
Beta Bionics, Inc. is a medical technology company focused on developing and commercializing advanced automated diabetes management solutions. Its core product is the iLet Bionic Pancreas, a wearable device that automatically adjusts insulin and glucagon delivery for people with Type 1 and Type 2 diabetes, serving primarily the U.S. healthcare market with plans for global expansion.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
BBNX vs KREF — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $27.6M | $25.8M |
| Net Profit | $-21.9M | $-26.2M |
| Gross Margin | 59.5% | — |
| Operating Margin | -47.4% | -105.1% |
| Net Margin | -79.3% | -101.7% |
| Revenue YoY | 56.6% | -26.6% |
| Net Profit YoY | 23.6% | -229.6% |
| EPS (diluted) | $-0.49 | $-0.49 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $27.6M | — | ||
| Q4 25 | $32.1M | $25.8M | ||
| Q3 25 | $27.3M | $25.3M | ||
| Q2 25 | $23.2M | $30.2M | ||
| Q1 25 | $17.6M | $31.3M | ||
| Q4 24 | — | $35.1M | ||
| Q3 24 | — | $37.0M | ||
| Q2 24 | — | $40.4M |
| Q1 26 | $-21.9M | — | ||
| Q4 25 | $-13.5M | $-26.2M | ||
| Q3 25 | $-14.2M | $13.8M | ||
| Q2 25 | $-16.9M | $-29.7M | ||
| Q1 25 | $-28.7M | $-4.9M | ||
| Q4 24 | — | $20.3M | ||
| Q3 24 | — | $-7.4M | ||
| Q2 24 | — | $25.8M |
| Q1 26 | 59.5% | — | ||
| Q4 25 | 59.0% | — | ||
| Q3 25 | 55.5% | — | ||
| Q2 25 | 53.8% | — | ||
| Q1 25 | 50.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -47.4% | — | ||
| Q4 25 | -50.2% | -105.1% | ||
| Q3 25 | -62.5% | 50.4% | ||
| Q2 25 | -85.5% | -101.3% | ||
| Q1 25 | -105.7% | -18.3% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | -19.6% | ||
| Q2 24 | — | 63.3% |
| Q1 26 | -79.3% | — | ||
| Q4 25 | -41.9% | -101.7% | ||
| Q3 25 | -52.1% | 54.4% | ||
| Q2 25 | -72.6% | -98.5% | ||
| Q1 25 | -162.5% | -15.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | — | -20.0% | ||
| Q2 24 | — | 63.9% |
| Q1 26 | $-0.49 | — | ||
| Q4 25 | $-0.16 | $-0.49 | ||
| Q3 25 | $-0.33 | $0.12 | ||
| Q2 25 | $-0.39 | $-0.53 | ||
| Q1 25 | $-0.93 | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $199.5M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $271.2M | $1.2B |
| Total Assets | $304.4M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $199.5M | — | ||
| Q4 25 | $219.1M | $84.6M | ||
| Q3 25 | $228.7M | $204.1M | ||
| Q2 25 | $249.7M | $107.7M | ||
| Q1 25 | $231.5M | $106.4M | ||
| Q4 24 | — | $104.9M | ||
| Q3 24 | — | $108.8M | ||
| Q2 24 | — | $107.2M |
| Q1 26 | $271.2M | — | ||
| Q4 25 | $287.6M | $1.2B | ||
| Q3 25 | $294.8M | $1.2B | ||
| Q2 25 | $301.6M | $1.2B | ||
| Q1 25 | $313.8M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B |
| Q1 26 | $304.4M | — | ||
| Q4 25 | $328.7M | $6.5B | ||
| Q3 25 | $330.0M | $6.5B | ||
| Q2 25 | $330.0M | $6.8B | ||
| Q1 25 | $338.0M | $6.6B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.8B | ||
| Q2 24 | — | $7.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $72.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-8.6M | $72.3M | ||
| Q3 25 | $-8.7M | $18.5M | ||
| Q2 25 | $-13.6M | $21.1M | ||
| Q1 25 | $-20.0M | $15.9M | ||
| Q4 24 | — | $132.6M | ||
| Q3 24 | — | $49.1M | ||
| Q2 24 | — | $30.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.5M | — | ||
| Q3 25 | $-10.0M | — | ||
| Q2 25 | $-15.4M | — | ||
| Q1 25 | $-20.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | -32.8% | — | ||
| Q3 25 | -36.7% | — | ||
| Q2 25 | -66.2% | — | ||
| Q1 25 | -115.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.9% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
