Orchestra Biomed Holdings Inc OBIO

Health CareHealthcare Equipment & SuppliesUnited States of America

Last close 5.69 USD on Nov 2, 2026, +37.1% year to date

Quant rating

Quant rating C Rank 234 of 565 in Health Care

Growth D 493 of 565
Valuation C 383 of 565
Quality B 199 of 565
Revisions C 239 of 565
Momentum B 146 of 565

Wall Street consensus Buy (1.71)Average target 12.43 USD +118.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 342M
Enterprise value: 277M
52-week range: 3.46 – 6.47
3-year range: 2.35 – 10.68
Dividend yield: –
Beta (5 years): 0.54
Shares outstanding: 60.1M
Next earnings: Nov 9, 2026

About the company

Orchestra BioMed Holdings, Inc. is a biomedical innovation company. The Company’s lead product candidates include Atrioventricular Interval Modulation (AVIM) therapy for the treatment of hypertension (HTN), the leading risk factor for death worldwide and the Virtue Sirolimus AngioInfusion Balloon (Virtue SAB) for the treatment of atherosclerotic artery disease, the leading cause of mortality worldwide. The Company develops bioelectronic therapies based on patented Cardiac Neuromodulation Therapy (CNT) technology. The AVIM is a bioelectronic therapy candidate designed to substantially and persistently lower blood pressure. Its Virtue SAB is a proprietary drug/device combination product candidate for the treatment of artery disease that is designed to deliver a proprietary, investigational, extended-release formulation of sirolimus (SirolimusEFR) to the vessel wall during balloon angioplasty without the need for balloon coating or a permanent implant.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	33.5	2.6	2.8	3.5	−0.8	–
Revenue growth	1,169.2%	−4.4%	−21.9%	551.8%	−113.7%	42.5%
EPS (basic, normalized)	−1.10	−1.66	−1.48	−0.17	–	–
EPS growth	–	–	–	–	–	–
Gross margin	99.4%	92.3%	93.3%	94.0%	–	94.7%
Net margin	−158.2%	−2,313.3%	−1,779.7%	−1,008.2%	–	−1,314.8%
ROE	−109.4%	−120.8%	−81.5%	−205.2%	–	−129.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	110
Current ratio	8.26x
Long-term debt (mil)	34.8
Net debt (mil)	−65.0
Total equity (mil)	29.4
Net debt / equity	−2.21x
Net debt / EBITDA	1.26x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	33.5	+1,169.2%	8.3x	−51.5	+15.1%	−5.4x	−1.10	+33.7%	−5.2x
2026	0.4	−98.8%	670.6x	−91.8	−78.3%	−3.0x	−1.52	−37.8%	−3.8x
2027	0.6	+52.5%	439.6x	−88.0	+4.1%	−3.1x	−1.51	+0.6%	−3.8x
2028	16.0	+2,436.8%	17.3x	−68.0	+22.8%	−4.1x	−0.86	+42.6%	−6.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	0.4	0.0%	−10.7%	−46.7%	−1.52	0.0%	+5.1%	+14.1%
2027	0.6	0.0%	−5.8%	−14.6%	−1.51	0.0%	−2.3%	+11.5%
2028	16.0	0.0%	−24.6%	−19.1%	−0.86	0.0%	+0.2%	+15.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	0.6	0.8	1.0	0.3	0.9	0.8	0.9	30.9	0.1	0.1
Sales mean (mil)	0.9	0.9	0.7	0.8	0.5	0.7	0.8	0.9	0.2	0.1
Surprise	−33.8%	−8.8%	+38.7%	−69.9%	+64.9%	+20.2%	+13.6%	+3,243.4%	−42.3%	−27.5%
EPS reported	−0.38	−0.45	−0.41	−0.42	−0.49	−0.50	−0.40	−0.13	−0.33	−0.38
EPS mean	−0.40	−0.39	−0.43	−0.43	−0.48	−0.50	−0.43	−0.38	−0.43	−0.39
Surprise	+4.5%	−14.6%	+4.7%	+1.6%	−1.9%	+0.7%	+8.0%	+65.7%	+23.4%	+3.1%

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OBIO Orchestra Biomed Holdings Inc	342M	1.26x	−158.2%	11.62x	−3.8x	−3.8x	−3.0x	−3.1x
ABT Abbott Laboratories	190.6B	2.36x	14.7%	3.73x	20.0x	18.6x	16.5x	15.0x
MDT Medtronic PLC	127.0B	1.99x	13.2%	2.53x	16.6x	15.5x	13.2x	12.6x
SYK Stryker Corporation	116.8B	1.65x	12.9%	4.98x	20.7x	18.8x	16.4x	15.3x
BSX Boston Scientific Corporation	64.2B	2.03x	14.4%	2.57x	14.0x	14.2x	12.1x	12.1x
BDX Becton Dickinson and Co	54.1B	2.03x	7.7%	2.22x	15.7x	14.9x	11.5x	11.5x
Mean		1.89x	−15.9%	4.61x	13.9x	13.0x	11.1x	10.6x
Median		2.01x	13.1%	3.15x	16.1x	15.2x	12.6x	12.4x

Technical analysis

1M−4.4%
3M+43.0%
1Y+45.9%
3Y+8.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Orchestra Biomed Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	33.5	2.6	2.8	3.5	−0.8	5.7
Cost of revenue	0.2	0.2	0.2	0.2	0.2	0.1
Gross profit	33.3	2.4	2.6	3.3	−1.0	5.6
Selling, general & administrative expenses	26.9	23.9	20.3	14.0	7.9	10.8
Research & development	58.2	42.8	33.8	21.9	12.9	13.5
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	1.2	0.7	0	–
Other operating expenses	0	0	0	0	0	0
Operating income	−51.8	−64.3	−52.7	−33.3	−21.8	−18.8
Net interest income (expense)	−0.9	3.3	3.5	−0.3	−1.2	−2.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−52.7	−61.0	−49.1	−33.6	−23.0	−21.4
Provision for taxes	–	–	–	–	–	–
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−52.7	−61.0	−49.1	−33.6	−23.0	−21.4
Extraordinary items	–	–	–	–	–	–
Net income	−52.7	−61.0	−49.1	−33.6	−23.0	−21.4
EBIT, normalized	−51.8	−64.3	−51.5	−32.7	−21.8	−18.8
EBITDA, normalized	−51.5	−64.0	−51.2	−32.4	−21.6	−18.6
Basic EPS, normalized	−1.10	−1.66	−1.48	−0.17	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Orchestra Biomed Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	107	66.8	87.6	83.8	10.9	35.8
Receivables	0.1	0.1	0.1	0.1	0.1	0.2
Total inventory	0.3	0.2	0.1	0.3	0.1	0.1
Prepaid expenses	1.0	2.1	1.3	0.5	0.2	0.2
Other current assets	0	0	0	0	0	0
Total current assets	108	69.2	89.1	84.7	11.3	36.3
Property, plant & equipment	3.2	3.5	2.8	3.7	1.1	1.0
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	2.5	2.5	2.5	2.5	0.4	0.2
Note receivable	–	–	–	–	–	–
Other long-term assets	1.2	1.0	0.8	4.7	0.7	0.6
Total assets	115	76.2	95.2	95.6	13.5	38.1
Liabilities
Accounts payable	6.1	5.1	2.9	4.0	2.0	1.8
Payable/accrued	–	–	–	–	–	–
Accrued expenses	10.6	6.6	5.8	6.1	1.9	1.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	0	2.0	4.0
Other current liabilities	0	4.4	2.5	8.5	6.3	7.2
Total current liabilities	16.7	16.2	11.2	18.6	12.2	14.4
Long-term debt	14.3	14.3	0	9.5	3.7	5.5
Minority interest	–	–	–	–	–	–
Other liabilities	20.5	12.7	16.0	15.0	17.4	15.4
Total liabilities	51.5	43.2	27.2	43.0	33.3	35.2
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	416	343	317	86.4	94.9	94.6
Retained earnings (accumulated deficit)	−363	−310	−249	−200	−166	−143
Treasury stock	–	–	–	–	–	–
Other equity	9.9	0.1	0	166	51.5	51.4
Total equity	63.4	33.0	68.0	52.5	−19.8	2.9
Total liabilities & shareholders' equity	115	76.2	95.2	95.6	13.5	38.1

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Orchestra Biomed Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−52.7	−61.0	−49.1	−33.6	−23.0	−21.4
Depreciation, depletion & amortization	0.3	0.3	0.3	0.2	0.2	0.1
Deferred taxes	–	–	–	–	–	–
Non-cash items	13.8	10.9	6.0	4.5	0.8	3.2
Changes in working capital	−10.4	−0.8	−3.3	−0.5	2.6	−8.2
Cash from operations	−49.0	−50.6	−46.1	−29.3	−19.4	−26.2
Investing activities
Capital expenditures	−0.5	−0.9	−0.1	−0.6	−0.3	−0.5
Other investing cash flows	−26.5	14.0	10.8	−63.5	13.3	27.5
Cash from investing	−26.9	13.1	10.7	−64.1	13.0	27.0
Financing activities
Financing cash flow items	17.9	13.9	56.8	−10.3	0	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	70.4	15.2	−10.6	114	−4.0	10.0
Cash from financing	88.3	29.2	46.2	103	−4.0	10.0
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	12.4	−8.3	10.8	9.8	−10.4	10.8
Free cash flow	−49.5	−51.4	−46.2	−29.9	−19.7	−26.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.