Key 2025 Financial Highlights

For the full year 2025:

✅ Total revenues reached RMB539.6 million (US$77.2 million), representing a 4.6% year-over-year increase, while overseas revenue reached RMB101.0 million (US$14.7 million).

✅ Net loss narrowed significantly to RMB55.3 million (US$7.9 million) for 2025, compared to RMB346.6 million for 2024, representing an 84.0% reduction.

In the fourth quarter of 2025:

✅ Total revenues reached RMB126.3 million (US$18.1 million) and the adjusted EBITDA turned positive for the first time at RMB0.4 million.

✅ Net operating cash inflow reached RMB23.0 million (US$3.3 million), marking two consecutive quarters of positive cash flow.

Cash, cash equivalents and restricted cash were RMB481.1 million (US$68.8 million) as of December 31, 2025.

Advancing Compliance-Driven Development and In-Hospital Testing

Burning Rock Biotech Limited (NASDAQ: BNR, “Burning Rock”) continues to advance a compliance-driven strategy for in-hospital testing, supporting hospitals in establishing standardized NGS testing platforms. To date, the company has supported 94 hospitals in building NGS testing capabilities.

✅ Revenue generated from in-hospital business was RMB51.0 million (US$7.3 million) for the three months ended December 31, 2025, representing a 17.3% year-over-year increase, while reached RMB224.0 million (US$32.0 million) for the full year of 2025, remaining relatively stable as compared with RMB224.5 million for 2024 and continuing to serve as the Company’s core business foundation.

✅ Revenue generated from central laboratory business was RMB44.0 million (US$6.3 million) for the three months ended December 31, 2025, while reached RMB160.0 million (US$22.9 million) for the full year of 2025.

✅ In January 2026, OncoScreen^® BCMatch Tissue Kit has officially entered the Priority Review Channel of the Center for Medical Device Evaluation (CMDE) under the NMPA. Upon approval, the product is expected to become China’s first NGS-based companion diagnostic kit for breast cancer, further strengthening the Company’s leadership in compliant product development.

Expanding Global Pharmaceutical Partnerships

Burning Rock continues to strengthen collaborations with global pharmaceutical companies. The Company has partnered with more than 140 pharmaceutical companies worldwide and supported over 15 companion diagnostic (CDx) development programs, with product approvals covering key markets including China, the United States, Japan and Europe.

✅ Revenue generated from pharma research and development services was RMB31.3 million (US$4.5 million) for the three months ended December 31, 2025, while reached RMB155.5 million (US$22.2 million) for the full year of 2025, representing a 34.5% year-over-year increase and serving as a key driver of total revenue growth.

✅ During 2025, Burning Rock completed 31 external quality assessments (EQA) and has now passed more than 320 EQA programs organized by leading domestic and international institutions, demonstrating the reliability and quality of its precision diagnostic services.

Improving Operational Efficiency Through Refined Management

✅ For the full year of 2025, total revenues reached RMB539.6 million (US$77.2 million), representing a 4.6% year-over-year increase, while net loss narrowed significantly to RMB55.3 million (US$7.9 million), representing an 84.0% year-over-year decrease.

✅ In the fourth quarter of 2025, total revenues reached RMB126.3 million (US$18.1 million), while net loss narrowed to RMB15.4 million (US$2.2 million), representing an 81.1% year-over-year decrease. Burning Rock achieved positive adjusted EBITDA of RMB0.4 million for the first time in a quarter.

✅ For the full year of 2025, operating expenses were RMB457.8 million (US$65.5 million), representing a 36.4% decrease from RMB720.0 million for 2024. Among these expenses, selling and marketing expenses were RMB165.2 million (US$23.6 million) for 2025, representing a 13.5% year-over-year decrease. General and administrative expenses were RMB126.1 million (US$18.0 million) for 2025, representing a 51.8% year-over-year decrease.

Strengthening Scientific and Technological Innovation

Burning Rock continues to advance research and innovation in precision oncology. In 2025, the Company published 39 scientific papers with a combined impact factor of 448.2 and obtained 15 domestic and international patents, further strengthening the scientific and technological foundation of its business.

✅ In December 2025, a prospective study on circulating tumor DNA-based minimal residual disease detection in colorectal cancer, conducted in collaboration with Sun Yat-sen University Cancer Center, was published in Annals of Surgery. The study demonstrated the potential of personalized ctDNA-MRD testing for early recurrence monitoring and treatment decision-making.

✅ In December 2025, the core patent related to Burning Rock's proprietary ultrasensitive detection technology, ELSA-seq (Patent No.: US 12460202 B2), has officially been granted by the United States Patent and Trademark Office (USPTO), marking an important milestone in the Company’s global intellectual property portfolio.

Improving Cash Flow and Financial Position

Cash, cash equivalents and restricted cash were RMB481.1 million (US$68.8 million) as of December 31, 2025.

During the fourth quarter of 2025, the Company generated net operating cash inflow of RMB23.0 million (US$3.3 million), achieving two consecutive quarters of positive cash flow, which provides a solid financial foundation for future product approvals and international expansion.

About Burning Rock

Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.

For more information about Burning Rock, please visit: ir.brbiotech.com.