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BICYCLE THERAPEUTICS PLC

BCYC Clue Score58
United Kingdom Fiscal year ends December CIK 0001761612
$3.89 +2.10% Close, 9 Oct 2026
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Price $3.89 −92.76% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 23 May 2019. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue2.1Operating income−16.2Net income−16.3Fiscal year 2018Revenue7.1 +246.4%Operating income−21.7Net income−21.8Fiscal year 2019Revenue13.8 +93.4%Operating income−26.3Net income−30.6EPS, diluted−2.77Fiscal year 2020Revenue10.4 −24.7%Operating income−52.0Net income−51.0EPS, diluted−2.66Fiscal year 2021Revenue11.7 +12.6%Operating income−65.6Net income−66.8EPS, diluted−2.67Fiscal year 2022Revenue14.5 +23.6%Operating income−116.7Net income−112.7EPS, diluted−3.80Fiscal year 2023Revenue27.0 +86.5%Operating income−189.9Net income−180.7EPS, diluted−5.08Fiscal year 2024Revenue35.3 +30.8%Operating income−209.9Net income−169.0EPS, diluted−2.90Fiscal year 2025Revenue72.6 +105.8%Operating income−247.1Net income−219.0EPS, diluted−3.16
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.1 7.1 13.8 10.4 11.7 14.5 27.0 35.3 72.6
Growth +246.4% +93.4% −24.7% +12.6% +23.6% +86.5% +30.8% +105.8%
Operating income −16.2 −21.7 −26.3 −52.0 −65.6 −116.7 −189.9 −209.9 −247.1
Net income −16.3 −21.8 −30.6 −51.0 −66.8 −112.7 −180.7 −169.0 −219.0
Growth
EPS, diluted n/a n/a −2.77 −2.66 −2.67 −3.80 −5.08 −2.90 −3.16

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−787.0%Net margin−789.3%Free cash flow margin−122.7%Fiscal year 2018Operating margin−304.7%Net margin−306.1%Free cash flow margin−382.1%Fiscal year 2019Operating margin−190.6%Net margin−221.8%Free cash flow margin−218.6%Fiscal year 2020Operating margin−500.1%Net margin−491.0%Free cash flow margin−182.8%Fiscal year 2021Operating margin−561.0%Net margin−571.2%Free cash flow margin−143.8%Fiscal year 2022Operating margin−806.6%Net margin−779.3%Free cash flow margin−726.7%Fiscal year 2023Operating margin−704.1%Net margin−669.7%Free cash flow margin−235.6%Fiscal year 2024Operating margin−595.0%Net margin−479.2%Free cash flow margin−470.5%Fiscal year 2025Operating margin−340.4%Net margin−301.7%Free cash flow margin−347.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −787.0% −304.7% −190.6% −500.1% −561.0% −806.6% −704.1% −595.0% −340.4%
Net margin −789.3% −306.1% −221.8% −491.0% −571.2% −779.3% −669.7% −479.2% −301.7%
Free cash flow margin −122.7% −382.1% −218.6% −182.8% −143.8% −726.7% −235.6% −470.5% −347.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−1.4Capital expenditure−1.1Free cash flow−2.5Fiscal year 2018Operating cash flow−26.1Capital expenditure−1.2Free cash flow−27.3Fiscal year 2019Operating cash flow−28.6Capital expenditure−1.6Free cash flow−30.2Fiscal year 2020Operating cash flow−17.8Capital expenditure−1.2Free cash flow−19.0Fiscal year 2021Operating cash flow−14.8Capital expenditure−2.0Free cash flow−16.8Fiscal year 2022Operating cash flow−86.1Capital expenditure−19.0Free cash flow−105.1Fiscal year 2023Operating cash flow−60.6Capital expenditure−2.9Free cash flow−63.6Fiscal year 2024Operating cash flow−164.7Capital expenditure−1.2Free cash flow−166.0Fiscal year 2025Operating cash flow−249.7Capital expenditure−2.4Free cash flow−252.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.4 −26.1 −28.6 −17.8 −14.8 −86.1 −60.6 −164.7 −249.7
Capital expenditure −1.1 −1.2 −1.6 −1.2 −2.0 −19.0 −2.9 −1.2 −2.4
Free cash flow −2.5 −27.3 −30.2 −19.0 −16.8 −105.1 −63.6 −166.0 −252.0
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash67.7Shareholders’ equity−47.2Fiscal year 2018Cash0.0Shareholders’ equity−69.8Fiscal year 2019Cash0.0Shareholders’ equity93.2Fiscal year 2020Cash0.0Total debt14.5Net cash (debt)−14.5Shareholders’ equity95.5Debt to equity0.15Fiscal year 2021Cash438.7Total debt29.9Net cash (debt)408.8Shareholders’ equity346.3Debt to equity0.09Fiscal year 2022Cash339.2Total debt30.3Net cash (debt)308.8Shareholders’ equity270.8Debt to equity0.11Fiscal year 2023Cash526.4Total debt30.7Net cash (debt)495.7Shareholders’ equity370.9Debt to equity0.08Fiscal year 2024Cash879.5Shareholders’ equity793.1Fiscal year 2025Cash628.1Shareholders’ equity610.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 67.7 0.0 0.0 0.0 438.7 339.2 526.4 879.5 628.1
Total debt n/a n/a n/a 14.5 29.9 30.3 30.7 n/a n/a
Net cash (debt) n/a n/a n/a −14.5 408.8 308.8 495.7 n/a n/a
Shareholders’ equity −47.2 −69.8 93.2 95.5 346.3 270.8 370.9 793.1 610.0
Debt to equity n/a n/a n/a 0.15 0.09 0.11 0.08 n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020† 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024† 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.1 7.1 13.8 10.4 11.7 14.5 27.0 35.3 72.6
Growth +246.4% +93.4% −24.7% +12.6% +23.6% +86.5% +30.8% +105.8%
11.9 20.8 25.5 33.1 44.9 81.6 156.5 173.0 240.3
6.4 8.1 14.6 29.2 32.4 49.5 60.4 72.2 79.4
−16.2 −21.7 −26.3 −52.0 −65.6 −116.7 −189.9 −209.9 −247.1
Growth
−16.3 −22.2 −30.9 −51.7 −68.5 −114.2 −179.2 −173.8 −218.8
−0.0 −0.4 −0.3 −0.7 −1.7 −1.5 1.5 −4.8 0.2
−16.3 −21.8 −30.6 −51.0 −66.8 −112.7 −180.7 −169.0 −219.0
Growth
Per share
n/a n/a −2.77 −2.66 −2.67 −3.80 −5.08 −2.90 −3.16
n/a n/a −2.77 −2.66 −2.67 −3.80 −5.08 −2.90 −3.16
Growth
n/a n/a 11.0 19.1 25.1 29.7 35.6 58.2 69.3
n/a n/a 11.0 19.1 25.1 29.7 35.6 58.2 69.3
Growth +73.3% +30.9% +18.4% +20.0% +63.5% +19.0%

† The diluted share count jumps at 2020 and 2024, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 47.5% a year over five years.
  • Operating margin is up 159.7 points on five years ago, at -340.4%.
  • A net loss in 9 of 9 years on file.