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BFRG

Bullfrog AI Holdings, Inc. Common Stock

BFRG

Bullfrog AI Holdings, Inc. Common Stock • NASDAQ
$0.99 ▼ -1.04% (-0.01)
Market Cap $9.63 M
52w High $4.84
52w Low $0.80
Dividend Yield 0%
P/E -1.43
Volume 37.79K
Outstanding Shares 9.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $83.413K ▲ $1.585M ▲ $-1.552M ▼ -1.86K% ▲ $-0.15 $-1.55M ▼
Q2-2025 $33.257K ▲ $1.476M ▼ $-1.449M ▲ -4.356K% ▼ $-0.15 ▲ $-1.446M ▲
Q1-2025 $0 $2.057M ▲ $-2.018M ▼ 0% $-0.21 $-2.016M ▼
Q4-2024 $0 $1.769M ▼ $-1.715M ▲ 0% $-0.21 ▲ $-1.712M ▲
Q3-2024 $0 $1.82M $-1.763M 0% $-0.22 $-1.758M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.991M ▼ $2.702M ▼ $758.701K ▲ $1.944M ▼
Q2-2025 $2.474M ▼ $2.869M ▼ $681.084K ▼ $2.188M ▼
Q1-2025 $3.802M ▼ $4.086M ▼ $839.397K ▲ $3.246M ▼
Q4-2024 $5.436M ▲ $5.552M ▲ $588.09K ▼ $4.964M ▲
Q3-2024 $4.239M $4.602M $779.037K $3.823M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.552M ▼ $-1.107M ▲ $0 $624.249K ▲ $-482.923K ▲ $-1.107M ▲
Q2-2025 $-1.449M ▲ $-1.432M ▲ $0 $208.68K ▲ $-1.223M ▲ $-1.432M ▲
Q1-2025 $-2.018M ▼ $-1.798M ▼ $0 $164.07K ▼ $-1.634M ▼ $-1.798M ▼
Q4-2024 $-1.715M ▲ $-1.272M ▼ $0 $2.469M ▲ $1.197M ▲ $-1.272M ▼
Q3-2024 $-1.763M $-1.206M $0 $-169.035K $-1.375M $-1.206M

Five-Year Company Overview

Income Statement

Income Statement Bullfrog AI is still in the pre-revenue stage. The company has effectively reported no meaningful sales in recent years, while continuing to record operating losses. Those losses reflect spending on research, technology development, and corporate overhead without any offsetting product or service revenue yet. Earnings per share have been negative and somewhat volatile, which is typical for a young, R&D-focused biotech and AI platform company that is still building its technology and pipeline rather than commercializing it.

Balance Sheet

Balance Sheet The balance sheet is very light, with only a small base of assets and cash reported and no financial debt. On one hand, having no debt lowers financial risk. On the other hand, the very modest asset and cash base, combined with cumulative losses, leaves only a thin capital cushion. This suggests a strong dependence on future capital raises, partnerships, or licensing deals to fund operations and growth. The company’s financial strength is therefore limited and sensitive to funding conditions.

Cash Flow

Cash Flow Cash flow is negative from operations, reflecting cash being spent on development, salaries, and overhead without incoming cash from customers. There is no sign of heavy investment in physical assets, so the burn is mainly operating rather than capital-intensive. Overall cash usage appears modest in absolute terms but meaningful relative to the small cash balance, implying that the company’s runway and future funding plans are critical considerations. Sustained progress will likely require either new financing, revenue-generating deals, or both.

Competitive Edge

Competitive Edge Bullfrog AI’s competitive position is built on a focused niche: applying an AI and machine learning platform to drug discovery and development. Its exclusive license to technology developed at a major research institution, access to specialized brain-disorder datasets, and partnerships with contract research organizations give it some differentiated tools and relationships. At the same time, it operates in a crowded and fast-moving field where larger pharmaceutical companies and well-funded AI-biotech firms are also competing. The company’s small size, early commercial stage, and need to prove real-world impact in clinical and business settings are key competitive challenges.

Innovation and R&D

Innovation and R&D Innovation is Bullfrog AI’s main strength. Its bfLEAP platform uses advanced AI methods—such as graph-based analytics, unsupervised learning, and explainable and causal AI—to analyze complex biomedical data and uncover disease drivers, targets, and patient subgroups. The company is pairing this platform with an internal pipeline of in-licensed drug candidates in cancer, obesity, and liver disease, plus tools for cleaning and organizing messy clinical data. Ongoing work to enhance the platform, deepen data partnerships, and progress its pipeline through preclinical stages are central to its research story. Success will hinge on turning this technical promise into validated results, partnerships, and eventually commercial usage.

Summary

Bullfrog AI is a very early-stage, innovation-heavy company that is still pre-revenue and running operating losses while it builds its AI platform and drug-development pipeline. Its financial base is thin, with limited cash and no debt, making access to external funding and strategic partnerships particularly important. The company’s core appeal lies in its proprietary AI platform, high-quality data relationships, and collaborations with research and drug-development partners. However, it operates in a competitive and uncertain space where many peers are chasing similar goals, and the path from promising technology to consistent, meaningful revenue is long and uncertain. Overall, Bullfrog AI currently looks more like a high-risk, high-uncertainty R&D platform than a mature operating business, with future outcomes heavily dependent on execution, scientific validation, and successful deal-making.

NEWS

September 8, 2025 · 8:00 AM UTC

BullFrog AI's bfPREP™ and bfLEAP® Platforms Deliver Real-World Impact in Eleison Pharmaceuticals Collaboration

Read more