How profitable is Bullfrog AI Holdings Inc. (BFRG)?

In FY 2025 (10-K), BFRG converted $1.0M of revenue into a 2.2% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Stock Ratings / Health Care / BFRG / financials

PTN (35) INM (47) CMMB (31) MBRX (34) ⌘ Pro Terminal →

Bullfrog AI Holdings Inc. (BFRG) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$0.50 +1.78% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $0.50

Bullfrog AI Holdings Inc. (BFRG) carries a Roarable Rating of E (Strong Sell) with 32/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $9.0M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is BFRG stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Bullfrog AI Holdings Inc. (NASDAQ: BFRG) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 32/100 at a spot price of $0.50 (+1.78% 1D, market cap $9.0M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 8/20, FRED Macro Regime Fit 6/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, BFRG ranks #741 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does BFRG compare to PTN and INM in the Health Care sector?

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Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), BFRG carries a Roarable E (32/100 RQD), trailing P/E of N/A, gross margin of 18.8%, and ROIC of -35.0%. By comparison, PTN (Palatin Technologies Inc.) holds a D- grade (35/100 RQD, P/E N/A, ROIC -35.0%, cap $8.9M) and INM (InMed Pharmaceuticals Inc.) posts a D grade (47/100 RQD, P/E N/A, ROIC -35.0%, cap $8.8M). Among the 5-stock peer group, BFRG leads on earnings multiple (N/A) while BFRG leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for BFRG?

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Per BFRG's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001829247), Bullfrog AI Holdings Inc. generated $116.7K in revenue (-99.4% YoY), -$6.5M in net income, and -$5.5M in free cash flow against $2.8M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $0.50 (+0.13%)🧬 Dilution Drag (+1.28% YoY Shares)⚙️ Cash Engine: 6/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (32/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-9.2% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D-

Each axis scored 0–20

12M PRICE TARGET CONE-12% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for BFRG)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (32/100 Composite)

🔍 WHY BFRG SCORES 32/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Whale & Options Positioning+9/20 pts (28% of score)

20D Institutional Volume Accumulation (±12.5% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (25% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 3/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+1.28% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade D$0.57-14% Next Q

Q2 (-2Q)

Grade E$0.49-4.1% Next Q

Q3 (-1Q)

Grade E$0.47+6.4% Next Q

Current

Grade E$0.50-9.2% Hist 90D α

Trajectory: D (40) → E (32)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a BFRG Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While BFRG currently carries a cautious 32/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($0.55) and Max Pain ($0.53) forces dealer call-delta covering toward $2.06.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+1.28% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $BFRG• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “BFRG Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 32%NO 68%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How BFRG Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $65.0K

FY24

Rev $20.3M

FY25

Rev $116.7K

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$116.7K	18.8%	-80%	-$6.5M	-$5.5M	-45%
FY 2024	$20.3M	18.8%	-35.7%	-$7.0M	-$5.6M	-45%
FY 2023	$65.0K	18.8%	-80%	-$5.4M	-$6.0M	-35%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring BFRG)

✓Walkthrough of BFRG's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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BFRG // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -27.54%📐 HORIZONTAL RANGE

2026-11-03O $0.51H $0.51L $0.49C $0.50VOL 125.2K

RES: $1.14SUP: $0.33SMA50: $0.55SMA200: $0.65

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

BFRG Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 BFRG Butterfly Map → + Track BFRG →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

8.0%/yr Implied 5Y Growth

vs. -99.4% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on BFRG today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for BFRG. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for BFRG today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (BFRG)

Health Care Rank #741 of 1015 ⚔️ PTN vs BFRG Full Matrix →

1. Head-to-Head Health Care Peer Comparison (BFRG vs. PTN, INM, CMMB, MBRX)

Industry: Biotechnology: Pharmaceutical Preparations (489 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Bullfrog AI Holdings Inc. (BFRG) ranks #741 by composite RQD confidence (32/100, grade E) and #900 by equity capitalization ($9.0M). Within this direct 5-issuer industry benchmark cohort, BFRG leads on earnings valuation at N/A trailing P/E, while BFRG leads on capital efficiency and profitability with -35.0% ROIC and 18.8% gross margin. INM currently holds the highest overall quantitative score in the immediate peer group at 47/100 (D) compared with BFRG at 32/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
BFRG ACTIVE Bullfrog AI Holdings Inc.	E	32/100	—	18.8%	-35.0%	+1.78%	$9.0M	Benchmark Subject
PTN Palatin Technologies Inc.	D-	35/100	—	—	-35.0%	-0.20%	$8.9M	/ptn-vs-bfrg →
INM InMed Pharmaceuticals Inc.	D	47/100	—	34.5%	-35.0%	+1.88%	$8.8M	/inm-vs-bfrg →
CMMB Chemomab Therapeutics Ltd.	E	31/100	—	—	-35.0%	+1.72%	$9.3M	/cmmb-vs-bfrg →
MBRX Moleculin Biotech Inc.	E	34/100	—	—	-35.0%	+5.32%	$8.3M	/mbrx-vs-bfrg →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001829247 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Bullfrog AI Holdings Inc. (BFRG) reported GAAP revenue of $116.7K (-99.4% vs. FY2024 revenue of $20.3M , and +79.5% cumulative change since FY2023) , GAAP net income of -$6.5M, operating cash flow of -$5.5M, and free cash flow of -$5.5M (+1.6% YoY). On the balance sheet, BFRG closed FY2025 with $2.8M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 3/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$116.7K	-$6.5M	-$5.5M	-$5.5M	$2.8M	—
FY2024 (FY)	2024-12-31	$20.3M	-$7.0M	-$5.6M	-$5.6M	$5.6M	—
FY2023 (FY)	2023-12-31	$65.0K	-$5.4M	-$6.0M	-$6.0M	—	—

3. BFRG Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is BFRG stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does BFRG compare to PTN and INM in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for BFRG?

Where is BFRG trading relative to its 50-day, 200-day, and 52-week technical levels?

BFRG last traded at $0.50 (+1.78% on volume of 156,981 shares), positioning the stock -9.09% below its 50-day simple moving average ($0.55) and -23.08% below its 200-day simple moving average ($0.65). Across its 52-week range of $0.43 to $1.96, BFRG sits at the 4.6% percentile with a 14-day RSI of 43.9 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.00 to $0.56).

Direct Sub-Reports: BFRG RQD Cockpit BFRG 12M Forecast BFRG Earnings & Move BFRG Dividends & DRIP BFRG Insiders & 13F BFRG Whale Options BFRG Profit Sankey BFRG News & Why

ROARABLE RATING BRIEF • RQD 32/100 (E) ✓ SEC XBRL & RQD VERIFIED

BFRG — Bullfrog AI Holdings Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Bullfrog AI Holdings Inc. (BFRG) earns a live Roarable RQD composite score of 32/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $0.50 (+1.78% 1D, market capitalization $9.0M).

Fundamental Cash Engine (6/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of 18.8%, operating margin of -60.0%, and free cash flow yield of —.
Whale 13F & Options Flow (9/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (6/20) + Forensic Balance Sheet (8/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Bullfrog AI Holdings Inc. (BFRG) is a NASDAQ-listed issuer in the Health Care sector, operating in the Biotechnology: Pharmaceutical Preparations industry. Revenue for the reported periods is small, at $0.1M, —, and $0.1M.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Bullfrog AI Holdings Inc. (BFRG) reported $116.7K in annual revenue (up from $20.3M in FY2024, -99.4% YoY) and -$6.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($65.0K revenue, -$5.4M net income) through FY2025, BFRG scaled operating cash flow to -$5.5M and free cash flow to -$5.5M, backed by $2.8M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (E • RQD 32/100): Established market leader in Health Care with deep daily trading liquidity. Free cash flow yield of — and institutional whale pillar of 9/20. With Fundamental Cash Engine at 6/20 and Institutional Whale Flow at 9/20, sustained execution supports upside toward the upper end of the $0.43 – $1.96 52-week range.
🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -60.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The source data therefore does not establish upstream suppliers, downstream customers, or sector correlations beyond the classification of Health Care / Biotechnology. The 2nd-order item an investor should track is the pharma partnership itself: because the company's revenue is only $0.

Key Question #1: Can BFRG sustain or expand its -60.0% operating margin and -35.0% ROIC against Biotechnology: Pharmaceutical Preparations peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $116.7K and free cash flow of -$5.5M, how will capital allocation balance growth reinvestment against $0 in total debt?
Key Question #3: How sensitive is BFRG's equity valuation to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

BFRG Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Bullfrog AI Holdings Inc. (BFRG) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to BFRG Debate Forum (3) ↓

🟢 CATALYST Moomoo • 1d ago

BullFrog AI (BFRG) Stock Forecast & Analyst Ratings

Moomoo report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo Finance • 1d ago

BullFrog AI Advances Major Depressive Disorder Drug Discovery Program With Global Pharma Partner

Yahoo Finance report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

An AI company’s CEO will present to investors in Los Angeles on Oct. 20

Stock Titan report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Investing.com UK • 1d ago

Bullfrog AI at LD Micro: pharma deal validation drives growth By Investing.com

Investing.com UK report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo! Finance Canada • 1d ago

Bullfrog AI Holdings, Inc. (BFRG) Seasonal Returns Chart

Yahoo! Finance Canada report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

BFRG: AI platform targets drug discovery economics, backed by a pharma deal and expanding pipeline

TradingView report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Stock Titan • 1d ago

AI drug candidates are entering human trials. BullFrog AI's CEO will discuss the remaining challenges.

Stock Titan report covering Bullfrog AI Holdings Inc. (BFRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo • 7d ago

BullFrog AI Founder and CEO Vin Singh to Deliver Keynote at AIDDD Summit

Keynote to explore the progress and remaining challenges of AI in drug discovery and developmentGAITHERSBURG, Md., Oct. 27, 2026 (GLOBE NEWSWIRE) -- BullFrog AI Holdings, Inc. (NASDAQ: BFRG; BFRGW) ("BullFrog AI"), an AI

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

BFRG Bull vs. Bear Conversation Board — What's Your Call at $0.50?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON BFRG 🐻 33% BEARISH CONVICTION

CA CashFlowKing RQD DEBATE OPENER • FCF Compounder Hunter 🐂 BULLISH 🎯 Target: $0.61 (+24.5%)

📌 Pinned Debate

A pharma partnership on an AI drug-discovery program is cited in recent news as a growth catalyst for a company trading near $0.51.

Here is why I am bullish on BFRG here at $0.49: A pharma partnership on an AI drug-discovery program is cited in recent news as a growth catalyst for a company trading near $0.51.. Compare BFRG's -60.0% operating margin and -35.0% ROIC against the rest of Biotechnology: Pharmaceutical Preparations. As long as cash conversion holds up, dips toward $0.47 are getting bought.

RetailWhale_TX 🐂 BULL

Both sides have a point here — BFRG's 8/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

SH ShortSeller_Dan RQD DEBATE OPENER • Forensic Short Bias 🐻 BEARISH 🎯 Target: $0.42 (-14.3%)

Spot @ $0.49

Reported operating margin of -60%, ROIC of -35%, and FCF of -$5.5M against $2.2M cash leave little internal support for the stock.

Sitting on the sidelines or leaning short BFRG above $0.49. Reported operating margin of -60%, ROIC of -35%, and FCF of -$5.5M against $2.2M cash leave little internal support for the stock.. Until Fundamental Cash Engine (6/20) and FCF yield (0.0%) inflect higher, upside is capped near $1.96.