BNAIW
BNAIW
Brand Engagement Network, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $60.12K ▲ | $501.83K ▼ | $-2.48M ▼ | -4.13K% ▼ | $-0.59 ▼ | $-563.65K ▼ |
| Q2-2025 | $5K ▼ | $1.86M ▼ | $905.08K ▲ | 18.1K% ▲ | $0.21 ▲ | $1.9M ▲ |
| Q1-2025 | $10K ▲ | $4.16M ▼ | $-3.61M ▲ | -36.1K% ▼ | $-0.9 ▲ | $-2.55M ▲ |
| Q4-2024 | $0 ▼ | $18.07M ▲ | $-17.96M ▼ | 0% ▲ | $-4.54 ▼ | $-16.86M ▼ |
| Q3-2024 | $50K | $5.33M | $-5.82M | -11.65K% | $-1.64 | $-4.83M |
What's going well?
Revenue grew more than tenfold this quarter, showing the company can generate sales. The share count is stable, so existing investors aren't being diluted.
What's concerning?
Costs are wildly out of control, leading to massive losses despite higher sales. Margins are deeply negative, and the business is losing much more money than it brings in.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $102.72K ▲ | $16.37M ▼ | $12.92M ▲ | $3.45M ▼ |
| Q2-2025 | $20.36K ▼ | $17.02M ▼ | $11.3M ▼ | $5.73M ▲ |
| Q1-2025 | $236.23K ▲ | $17.94M ▼ | $14.63M ▼ | $3.31M ▲ |
| Q4-2024 | $149.27K ▲ | $18.15M ▼ | $15.51M ▲ | $2.64M ▼ |
| Q3-2024 | $72.88K | $31.95M | $14.2M | $17.75M |
What's financially strong about this company?
Intangible assets are large, and there are no hidden or off-balance-sheet liabilities. The company still has positive equity.
What are the financial risks or weaknesses?
Cash is extremely low, debt is rising fast, and most of it is due soon. Equity is shrinking, and the company has a long history of losses.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-2.48M ▼ | $-107.26K ▲ | $-442.95K ▼ | $632.57K ▼ | $82.36K ▲ | $-550.21K ▲ |
| Q2-2025 | $905.08K ▲ | $-2.61M ▲ | $-31.24K ▲ | $2.42M ▼ | $-215.87K ▼ | $-2.64M ▲ |
| Q1-2025 | $-3.61M ▲ | $-2.63M ▼ | $-110.27K ▼ | $2.83M ▲ | $86.96K ▲ | $-2.74M ▼ |
| Q4-2024 | $-17.96M ▼ | $-2.37M ▲ | $-65.43K ▲ | $2.52M ▲ | $76.39K ▲ | $-2.44M ▲ |
| Q3-2024 | $-5.82M | $-3.08M | $-116.23K | $1.84M | $-1.36M | $-3.19M |
What's strong about this company's cash flow?
Cash burn is shrinking rapidly, and the company managed to boost its cash balance this quarter. Operating losses are now much smaller than before.
What are the cash flow concerns?
The company is still not generating cash from its core business and relies on borrowing to stay afloat. Working capital gains are likely a one-off, and cash is tight.
Q2 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at Brand Engagement Network, Inc.'s financial evolution and strategic trajectory over the past five years.
The company combines rapid top‑line growth (from a low base) with extremely high gross margins, reflecting the scalability of its software‑driven model. It has a clear strategic focus on regulated industries where trust, compliance, and data security are critical, supported by proprietary AI technology, a meaningful patent portfolio, and a growing network of strategic partners and pilot projects in healthcare, pharmaceuticals, and international markets.
Financial risk stands out: deep and worsening losses, heavy cash burn, shrinking equity, rising leverage, and tight liquidity all raise concerns about sustainability without substantial new capital. Operationally, costs are growing much faster than revenue, and the company is competing in a highly contested AI landscape against far larger and better‑funded rivals. Execution risk—closing large deals, scaling deployments, and converting innovation into stable, recurring revenue—remains high.
Looking ahead, BNAIW resembles a high‑potential but high‑risk early‑stage AI platform. Its differentiated focus and technology create opportunities, especially if current partnerships mature into significant, repeat business. At the same time, the current financial trajectory is not sustainable, so the outlook hinges on two parallel shifts: a meaningful acceleration in commercial adoption and a disciplined rebalancing of the cost base and capital structure. Until those shifts are evident, future performance should be viewed as highly uncertain and sensitive to both market reception and financing conditions.
About Brand Engagement Network, Inc.
https://www.beninc.aiBrand Engagement Network, Inc. offers conversational AI technology and human-like AI avatars that offer human-like responses with expressions, gestures, and emotions combined with the ability to remember customer details and problem-solving in real-time on mobile devices, computers, and stand-alone kiosks. The company serves the automotive, healthcare, and customer services industries.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $60.12K ▲ | $501.83K ▼ | $-2.48M ▼ | -4.13K% ▼ | $-0.59 ▼ | $-563.65K ▼ |
| Q2-2025 | $5K ▼ | $1.86M ▼ | $905.08K ▲ | 18.1K% ▲ | $0.21 ▲ | $1.9M ▲ |
| Q1-2025 | $10K ▲ | $4.16M ▼ | $-3.61M ▲ | -36.1K% ▼ | $-0.9 ▲ | $-2.55M ▲ |
| Q4-2024 | $0 ▼ | $18.07M ▲ | $-17.96M ▼ | 0% ▲ | $-4.54 ▼ | $-16.86M ▼ |
| Q3-2024 | $50K | $5.33M | $-5.82M | -11.65K% | $-1.64 | $-4.83M |
What's going well?
Revenue grew more than tenfold this quarter, showing the company can generate sales. The share count is stable, so existing investors aren't being diluted.
What's concerning?
Costs are wildly out of control, leading to massive losses despite higher sales. Margins are deeply negative, and the business is losing much more money than it brings in.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $102.72K ▲ | $16.37M ▼ | $12.92M ▲ | $3.45M ▼ |
| Q2-2025 | $20.36K ▼ | $17.02M ▼ | $11.3M ▼ | $5.73M ▲ |
| Q1-2025 | $236.23K ▲ | $17.94M ▼ | $14.63M ▼ | $3.31M ▲ |
| Q4-2024 | $149.27K ▲ | $18.15M ▼ | $15.51M ▲ | $2.64M ▼ |
| Q3-2024 | $72.88K | $31.95M | $14.2M | $17.75M |
What's financially strong about this company?
Intangible assets are large, and there are no hidden or off-balance-sheet liabilities. The company still has positive equity.
What are the financial risks or weaknesses?
Cash is extremely low, debt is rising fast, and most of it is due soon. Equity is shrinking, and the company has a long history of losses.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-2.48M ▼ | $-107.26K ▲ | $-442.95K ▼ | $632.57K ▼ | $82.36K ▲ | $-550.21K ▲ |
| Q2-2025 | $905.08K ▲ | $-2.61M ▲ | $-31.24K ▲ | $2.42M ▼ | $-215.87K ▼ | $-2.64M ▲ |
| Q1-2025 | $-3.61M ▲ | $-2.63M ▼ | $-110.27K ▼ | $2.83M ▲ | $86.96K ▲ | $-2.74M ▼ |
| Q4-2024 | $-17.96M ▼ | $-2.37M ▲ | $-65.43K ▲ | $2.52M ▲ | $76.39K ▲ | $-2.44M ▲ |
| Q3-2024 | $-5.82M | $-3.08M | $-116.23K | $1.84M | $-1.36M | $-3.19M |
What's strong about this company's cash flow?
Cash burn is shrinking rapidly, and the company managed to boost its cash balance this quarter. Operating losses are now much smaller than before.
What are the cash flow concerns?
The company is still not generating cash from its core business and relies on borrowing to stay afloat. Working capital gains are likely a one-off, and cash is tight.
Q2 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at Brand Engagement Network, Inc.'s financial evolution and strategic trajectory over the past five years.
The company combines rapid top‑line growth (from a low base) with extremely high gross margins, reflecting the scalability of its software‑driven model. It has a clear strategic focus on regulated industries where trust, compliance, and data security are critical, supported by proprietary AI technology, a meaningful patent portfolio, and a growing network of strategic partners and pilot projects in healthcare, pharmaceuticals, and international markets.
Financial risk stands out: deep and worsening losses, heavy cash burn, shrinking equity, rising leverage, and tight liquidity all raise concerns about sustainability without substantial new capital. Operationally, costs are growing much faster than revenue, and the company is competing in a highly contested AI landscape against far larger and better‑funded rivals. Execution risk—closing large deals, scaling deployments, and converting innovation into stable, recurring revenue—remains high.
Looking ahead, BNAIW resembles a high‑potential but high‑risk early‑stage AI platform. Its differentiated focus and technology create opportunities, especially if current partnerships mature into significant, repeat business. At the same time, the current financial trajectory is not sustainable, so the outlook hinges on two parallel shifts: a meaningful acceleration in commercial adoption and a disciplined rebalancing of the cost base and capital structure. Until those shifts are evident, future performance should be viewed as highly uncertain and sensitive to both market reception and financing conditions.

CEO
Tyler J. Luck
Compensation Summary
(Year 2024)
Ratings Snapshot
Rating : C
Price Target
Institutional Ownership
BLUE OWL CAPITAL HOLDINGS LP
Shares:2.73M
Value:$890.13K
COWEN AND COMPANY, LLC
Shares:695.96K
Value:$227.23K
TORONTO DOMINION BANK
Shares:690.53K
Value:$225.46K
Summary
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