Burning Rock Biotech Ltd 6-K, filed Nov 20, 2025

Burning Rock Biotech Ltd (BNR)

6-K 2025-11-20 For: 2025-11-20

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Added on April 06, 2026

About this 6-K

Burning Rock Biotech Ltd filed this 6-K on November 20, 2025.

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Number		Description of Document

Exhibit 99.1		Press release


	Burning Rock Biotech Limited

	By:	/s/ Yusheng Han
	Name:	Yusheng Han
	Title:	Chief Executive officer
Date: November 20, 2025


	As of
	September 30, 2024		December 31, 2024		March 31, 2025		June 30, 2025		September 30, 2025
In-hospital Channel:
Pipeline partner hospitals⁽¹⁾		30		29		30		30		31

Contracted partner hospitals⁽²⁾		61		63		63		63		63

Total number of partner hospitals		69		92		93		93		94


	For the three months ended				For the nine months ended
Revenues	September 30, 2024		September 30, 2025		September 30, 2024		September 30, 2025
	(RMB in thousands)				(RMB in thousands)
Central laboratory channel		39,984		36,811		136,371		115,968
In-hospital channel		63,769		52,847		181,028		173,030
Pharma research and development channel		24,891		41,959		72,401		124,255
Total revenues		128,644		131,617		389,800		413,253


	For the three months ended				For the nine months ended
Gross profit	September 30, 2024		September 30, 2025		September 30, 2024		September 30, 2025
	(RMB in thousands)				(RMB in thousands)
Central laboratory channel		33,262		30,126		108,688		98,254
In-hospital channel		46,580		37,925		129,830		128,310
Pharma research and development channel		12,004		30,793		34,460		77,784
Total gross profit		91,846		98,844		272,978		304,348


	For the three months ended				For the nine months ended
Share-based compensation expenses	September 30, 2024		September 30, 2025		September 30, 2024		September 30, 2025
	(RMB in thousands)				(RMB in thousands)
Cost of revenues		289		301		1,349		889
Research and development expenses		3,180		73		27,475		1,603
Selling and marketing expenses		1,917		624		3,657		2,013
General and administrative expenses		4,732		2,831		115,129		6,249
Total share-based compensation expenses		10,118		3,829		147,610		10,754


	For the three months ended
	September 30, 2024			December 31,2024			March 31, 2025			June 30, 2025			September 30, 2025			September 30, 2025
	RMB			RMB			RMB			RMB			RMB			US$
Revenues		128,644			126,022			133,082			148,554			131,617			18,488
Cost of revenues		(36,798	)		(36,600	)		(35,681	)		(40,451	)		(32,773	)		(4,604	)

Gross profit		91,846			89,422			97,401			108,103			98,844			13,884
Operating expenses:
Research and development expenses		(49,150	)		(52,203	)		(40,389	)		(49,770	)		(41,469	)		(5,825	)
Selling and marketing expenses		(48,411	)		(46,730	)		(40,888	)		(38,413	)		(41,808	)		(5,873	)
General and administrative expenses		(32,874	)		(37,289	)		(31,303	)		(31,417	)		(31,698	)		(4,453	)
Impairment loss on long-lived assets		—			(35,127	)		—			—			—			—

Total operating expenses		(130,435	)		(171,349	)		(112,580	)		(119,600	)		(114,975	)		(16,151	)

Loss from operations		(38,589	)		(81,927	)		(15,179	)		(11,497	)		(16,131	)		(2,267	)
Interest income		3,173			1,814			2,581			2,226			1,744			245
Interest expense		—			—			—			—			(15	)		(2	)
Other income (expense), net		1			4,353			(652	)		387			7			1
Foreign exchange loss, net		(129	)		(220	)		(26	)		(574	)		(2,151	)		(302	)

Loss before income tax		(35,544	)		(75,980	)		(13,276	)		(9,458	)		(16,546	)		(2,325	)
Income tax expenses		(201	)		(5,314	)		(224	)		(244	)		(212	)		(30	)

Net loss		(35,745	)		(81,294	)		(13,500	)		(9,702	)		(16,758	)		(2,355	)

Net loss attributable to Burning Rock Biotech Limited’s shareholders		(35,745	)		(81,294	)		(13,500	)		(9,702	)		(16,758	)		(2,355	)
Net loss attributable to ordinary shareholders		(35,745	)		(81,294	)		(13,500	)		(9,702	)		(16,758	)		(2,355	)
Loss per share for class A and class B ordinary shares:
Class A ordinary shares - basic and diluted		(0.35	)		(0.79	)		(0.13	)		(0.09	)		(0.16	)		(0.02	)
Class B ordinary shares - basic and diluted		(0.35	)		(0.79	)		(0.13	)		(0.09	)		(0.16	)		(0.02	)
Weighted average shares outstanding used in loss per share computation:
Class A ordinary shares - basic and diluted		85,902,670			86,036,286			90,291,658			90,357,970			90,416,619			90,416,619
Class B ordinary shares - basic and diluted		17,324,848			17,324,848			17,324,848			17,324,848			17,324,848			17,324,848
Other comprehensive (loss) income, net of tax of nil:
Foreign currency translation adjustments		(4,054	)		6,009			(72	)		(243	)		(1,724	)		(242	)
Total comprehensive loss		(39,799	)		(75,285	)		(13,572	)		(9,945	)		(18,482	)		(2,597	)
Total comprehensive loss attributable to Burning Rock Biotech Limited’s shareholders		(39,799	)		(75,285	)		(13,572	)		(9,945	)		(18,482	)		(2,597	)


	As of
	December 31, 2024		September 30, 2025		September 30, 2025
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		519,849		463,994		65,177
Restricted cash		2,313		2,985		419
Accounts receivable, net		152,013		183,841		25,824
Contract assets, net		13,855		13,049		1,833
Inventories, net		62,625		54,469		7,651
Prepayments and other current assets, net		25,963		20,985		2,950

Total current assets		776,618		739,323		103,854

Non-current assets:
Property and equipment, net		47,152		33,755		4,742
Operating right-of-use assets		53,188		32,281		4,534
Intangible assets, net		421		316		44
Other non-current assets		7,926		6,493		912

Total non-current assets		108,687		72,845		10,232

TOTAL ASSETS		885,305		812,168		114,086


	For the nine months ended
	September 30, 2024			September 30, 2025			September 30, 2025
	RMB			RMB			US$
Net cash used in operating activities		(111,323	)		(51,482	)		(7,232	)
Net cash used in investing activities		(3,600	)		(4,071	)		(572	)
Net cash generated from financing activities		2			2,000			281
Effect of exchange rate on cash, cash equivalents and restricted cash		(2,048	)		(1,630	)		(229	)
Net decrease in cash, cash equivalents and restricted cash		(116,969	)		(55,183	)		(7,752	)
Cash, cash equivalents and restricted cash at the beginning of period		615,216			522,162			73,348
Cash, cash equivalents and restricted cash at the end of period		498,247			466,979			65,596


	As of
	December 31, 2024			September 30, 2025			September 30, 2025
	RMB			RMB			US$
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		33,747			34,277			4,815
Deferred revenue		117,895			106,448			14,953
Accrued liabilities and other current liabilities		89,498			76,992			10,816
Customer deposits		592			592			83
Short-term borrowings		—			200			28
Current portion of operating lease liabilities		24,567			16,603			2,332

Total current liabilities		266,299			235,112			33,027

Non-current liabilities:
Long-term borrowings		—			1,800			253
Non-current portion of operating lease liabilities		27,754			14,577			2,048
Other non-current liabilities		10,425			11,102			1,559

Total non-current liabilities		38,179			27,479			3,860

TOTAL LIABILITIES		304,478			262,591			36,887

Shareholders’ equity:
Class A ordinary shares		124			120			17
Class B ordinary shares		21			21			3
Additional paid-in capital		5,002,255			5,006,937			703,320
Treasury stock		(63,264	)		(57,193	)		(8,034	)
Accumulated deficits		(4,200,261	)		(4,240,221	)		(595,620	)
Accumulated other comprehensive loss		(158,048	)		(160,087	)		(22,487	)

Total shareholders’ equity		580,827			549,577			77,199

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		885,305			812,168			114,086


	For the three months ended
	September 30, 2024			December 31, 2024			March 31, 2025			June 30, 2025			September 30, 2025
				(RMB in thousands)
Gross profit:
Central laboratory channel		33,262			33,153			32,191			35,937			30,126
In-hospital channel		46,580			29,563			43,895			46,490			37,925
Pharma research and development channel		12,004			26,706			21,315			25,676			30,793
Total gross profit		91,846			89,422			97,401			108,103			98,844
Add: depreciation and amortization:
Central laboratory channel		1,277			1,010			562			456			231
In-hospital channel		798			623			290			389			372
Pharma research and development channel		3,846			2,534			2,412			1,528			1,491
Total depreciation and amortization included in cost of revenues		5,921			4,167			3,264			2,373			2,094
Non-GAAP gross profit:
Central laboratory channel		34,539			34,163			32,753			36,393			30,357
In-hospital channel		47,378			30,186			44,185			46,879			38,297
Pharma research and development channel		15,850			29,240			23,727			27,204			32,284
Total non-GAAP gross profit		97,767			93,589			100,665			110,476			100,938
Non-GAAP gross margin:
Central laboratory channel		86.4	%		87.0	%		85.5	%		89.1	%		82.5	%
In-hospital channel		74.3	%		69.5	%		76.6	%		75.0	%		72.5	%
Pharma research and development channel		63.7	%		67.6	%		64.0	%		60.2	%		76.9	%
Total non-GAAP gross margin		76.0	%		74.3	%		75.6	%		74.4	%		76.7	%