Atai Beckley 2025 Q3 Earnings Net Loss Widens 132.2% Despite Revenue Surge

Atai Beckley (ATAI) reported fiscal 2025 Q3 earnings on Nov 12, 2025, with revenue surging 1772.5% to $749,000 but GAAP EPS of -$0.28 missing expectations by $0.17. The company’s net loss expanded to $61.1M (132.2% YoY), driven by R&D and G&A costs. Guidance highlighted extended cash runway through 2029 post a $150M public offering, aligning with strategic milestones for BPL-003’s Phase 3 trials.

Revenue

Atai Beckley’s total revenue skyrocketed to $749,000 in Q3 2025, a 1772.5% increase from $40,000 in Q3 2024, driven entirely by research and development services. This segment accounted for the full $749,000 in revenue, reflecting the company’s focus on preclinical and clinical trial activities.

Earnings/Net Income

The company’s net loss widened to $61.1 million in Q3 2025, a 132.2% increase from $26.31 million in Q3 2024. Earnings per share (EPS) deteriorated to -$0.28 from -$0.16, marking a 75.0% wider loss. The EPS and net loss figures reflect a significant deterioration in profitability.

Post-Earnings Price Action Review

Following the earnings release, Atai Beckley’s stock edged up 0.46% in the latest trading day but faced a 3.35% decline over the subsequent full week and a steep 19.81% month-to-date drop. The mixed price action underscores market skepticism despite record revenue, with investors weighing the company’s widening losses against its pipeline advancements.

CEO Commentary

CEO Srinivas Rao highlighted BPL-003’s Breakthrough Therapy designation and positive Phase 2b data as pivotal for treating-resistant depression (TRD). The $150M public offering extended cash runway to 2029, enabling key milestones including Phase 3 trials for BPL-003 and continued R&D for EMP-01 and VLS-01.

Guidance

Atai Beckley expects cash reserves to fund operations through 2029, with BPL-003’s Phase 3 trial initiation pending FDA End-of-Phase 2 discussions in Q1 2026. Topline data from VLS-01’s Phase 2 trial is anticipated in H2 2026, while EMP-01’s Phase 2a results are expected in Q1 2026.

Additional News

1. FDA Breakthrough Therapy Designation: BPL-003 received FDA Breakthrough Therapy status for TRD, accelerating its path to pivotal trials.

2. $150M Public Offering: The company raised $150 million to fund operations through 2029, supporting its mental health pipeline.

3. NIDA Grant: Atai secured an $11.4M grant for non-hallucinogenic 5-HT2A/2C receptor agonists to address opioid use disorder.