---
title: "BlackRock Tech and Private Equity Term Trust | 10-Q: FY2025 Q3 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/264931195.md"
datetime: "2025-11-07T21:39:34.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/264931195.md)
  - [en](https://longbridge.com/en/news/264931195.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264931195.md)
generator: "portal-rs"
---

# BlackRock Tech and Private Equity Term Trust | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.15.

EBIT: As of FY2025 Q3, the actual value is USD -2.024 M.

### Segment Revenue

-   No revenue was reported for the three and nine months ended September 30, 2025, compared to $487,000 and $581,000 for the same periods in 2024, respectively.

### Operational Metrics

-   **Net Loss**: The net loss for the three months ended September 30, 2025, was $1.2 million, a significant improvement from the $26.6 million loss in the same period in 2024. For the nine months ended September 30, 2025, the net loss was $12.6 million, compared to $38.8 million in 2024.
-   **Operating Expenses**: Total operating expenses for the three months ended September 30, 2025, were $2.0 million, down from $2.8 million in 2024. For the nine months ended September 30, 2025, operating expenses were $7.2 million, compared to $13.5 million in 2024.

### Cash Flow

-   **Operating Cash Flow**: Net cash used in operating activities was $5.9 million for the nine months ended September 30, 2025, compared to $12.3 million in 2024.
-   **Free Cash Flow**: Not explicitly stated, but the net increase in cash and cash equivalents was $1.3 million for the nine months ended September 30, 2025, compared to a decrease of $7.4 million in 2024.

### Unique Metrics

-   **Forward Sales Contract Expense**: A non-cash expense of $5.8 million was recognized in the nine months ended September 30, 2025, related to a forward sales contract.

### Future Outlook and Strategy

-   **Core Business Focus**: The company plans to complete IND enabling studies and submit an IND for its lead product candidate, ERNA-101, by 2026, with a Phase I clinical trial expected in the same year.
-   **Non-Core Business**: The company is seeking strategic partnerships to co-develop or out-license therapeutic assets and is applying for research grants to support its operations.
-   **Priority**: The company emphasizes the need to raise additional capital to fund operations, with no current arrangements for capital in place.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**