BEAMBeam Therapeutics Inc.

Biological Products, (no Diagnostic Substances)

Revenue: $140M; 120% YoY
Operating margin: -274.6%; 58% YoY
EBITDA: −$361M; 8.2% YoY
Market cap: $2.8B
Employees: 511; $273K revenue each
Net debt / EBITDA: —; −$120M net debt
AI in 10-K: 0.5; mentions per 10K words

Takeover score 4 of 13

Fixable underperformance 1 of 7

TSR below peersNo
1 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$6M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
67% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
89% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
$273K · 41st pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.5 per 10K words · 23rd pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$2.8B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$20M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$52M	$61M	$378M	$64M	$140M	120%
Operating income	−$392M	−$338M	−$176M	−$416M	−$384M	7.7%
Net income	−$371M	−$289M	−$133M	−$377M	−$80M	79%
Operating cash flow	−$66M	$23M	−$149M	−$347M	−$345M	0.6%
Capex	$47M	$49M	$34M	$9M	$15M	67%
Stock-based comp	$44M	$84M	$99M	$121M	$94M	22%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $20M · 31
Net: −$20M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$6M	$8M	34	125
FY2024	$6M	$7M	132	125
FY2023	$6M	$3M	145	126
FY2022	$9M	−$14M	209	120
FY2021	$14M	$17M	425	134