SEPN · Septerna, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 |
|---|---|---|---|---|---|---|---|
| Revenue | $26.52M | - | $21.50M | $370.0K | $317.0K | - | $176.0K |
| Cost of Revenue | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - |
| R&D | $29.54M | - | $24.26M | $22.19M | $13.15M | - | $17.83M |
| SG&A | $10.29M | - | $7.12M | $3.40M | $2.65M | - | $2.79M |
| Total Operating Expenses | $39.82M | - | $18.88M | $18.43M | $15.81M | - | $22.73M |
| D&A | $400.0K | - | $400.0K | $400.0K | $300.0K | - | $400.0K |
| Operating Income | ($13.30M) | - | $2.61M | ($18.07M) | ($15.49M) | - | ($12.04M) |
| Interest Expense | - | - | - | - | - | - | - |
| Income Tax | $337.0K | - | $0 | $109.0K | $93.0K | - | ($136.0K) |
| Net Income | ($8.64M) | - | $8.17M | ($24.84M) | ($21.48M) | - | ($10.95M) |
| EPS - Basic | ($0.19) | - | $0.18 | ($0.56) | ($6.35) | - | ($5.45) |
| EPS - Diluted | ($0.19) | - | $0.18 | ($7.03) | ($6.35) | - | ($5.45) |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $71.61M | $120.72M | $319.99M | $131.17M | $210.04M | $238.20M | $88.48M |
| Accounts Receivable | $10.84M | $10.36M | $8.64M | $151.0K | $250.0K | $171.0K | $210.0K |
| Inventory | - | - | - | - | - | - | - |
| Accounts Payable | $7.46M | $10.28M | $3.73M | $6.54M | $4.35M | $3.20M | $6.13M |
| Current Assets | $368.06M | $410.96M | $491.68M | $334.14M | $342.47M | $356.82M | $133.41M |
| Total Assets | $569.69M | $596.19M | $606.65M | $415.23M | $434.02M | $456.55M | $174.28M |
| Current Liabilities | $78.17M | $86.93M | $75.28M | $15.13M | $10.64M | $12.85M | $6.91M |
| Long-term Debt | - | - | - | - | - | - | - |
| Total Liabilities | $191.23M | $214.26M | $217.92M | $37.67M | $33.75M | $36.51M | $37.53M |
| Stockholders' Equity | $378.46M | $381.93M | $388.73M | $377.56M | $400.27M | $420.05M | ($73.85M) |
| Retained Earnings | ($175.89M) | ($167.25M) | ($156.51M) | ($164.69M) | ($139.85M) | ($118.37M) | ($97.71M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($25.63M) | - | - | - | ($16.71M) | - | - |
| Investing Cash Flow | ($23.82M) | - | - | - | $9.57M | - | - |
| Financing Cash Flow | $333.0K | - | - | - | $66.0K | - | - |
| CapEx | $832.0K | - | - | - | $764.0K | - | - |
| Free Cash Flow | ($26.46M) | - | - | - | ($17.48M) | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 |
|---|---|---|---|---|---|---|---|
| Profitability | |||||||
| Gross margin | - | - | - | - | - | - | - |
| Operating margin | -50.1% | - | 12.2% | -4882.4% | -4886.4% | - | -6840.9% |
| EBITDA margin | -48.6% | - | 14.0% | -4774.3% | -4791.8% | - | -6613.6% |
| Net margin | -32.6% | - | 38.0% | -6713.0% | -6774.8% | - | -6218.8% |
| Free cash flow margin | -99.8% | - | - | - | -5512.6% | - | - |
| FCF / Net income | 3.06 | - | - | - | 0.81 | - | - |
| R&D / Revenue | 111.4% | - | 112.9% | 5996.8% | 4149.2% | - | 10131.8% |
| SG&A / Revenue | 38.8% | - | 33.1% | 918.9% | 837.2% | - | 1586.4% |
| Effective tax rate | - | - | 0.0% | - | - | - | - |
| Return on assets | -1.5% | - | 1.3% | -6.0% | -4.9% | - | -6.3% |
| Return on equity | -2.3% | - | 2.1% | -6.6% | -5.4% | - | 14.8% |
| Return on invested capital | - | - | - | - | - | - | - |
| Liquidity | |||||||
| Current ratio | 4.71 | 4.73 | 6.53 | 22.09 | 32.19 | 27.77 | 19.30 |
| Quick ratio | 4.71 | 4.73 | 6.53 | 22.09 | 32.19 | 27.77 | 19.30 |
| Cash ratio | 0.92 | 1.39 | 4.25 | 8.67 | 19.74 | 18.54 | 12.80 |
| Leverage | |||||||
| Debt / Equity | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - |
| Equity multiplier | 1.51 | 1.56 | 1.56 | 1.10 | 1.08 | 1.09 | -2.36 |
| Liabilities / Assets | 0.34 | 0.36 | 0.36 | 0.09 | 0.08 | 0.08 | 0.22 |
| Efficiency | |||||||
| Asset turnover | 0.05 | - | 0.04 | 0.00 | 0.00 | - | 0.00 |
| Inventory turnover | - | - | - | - | - | - | - |
| Days sales outstanding | 149d | - | 147d | 149d | 288d | - | 436d |
| Days inventory outstanding | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - |
| Valuation | |||||||
| P / E | - | - | 104.5x | - | - | - | - |
| P / B | 2.8x | - | 2.2x | 0.1x | 0.0x | - | - |
| P / S | 40.6x | - | 39.9x | 66.8x | 40.8x | - | - |
| EV / EBITDA | - | - | 178.4x | - | - | - | - |
| Growth | |||||||
| Revenue growth (YoY) | 8266.9% | - | 12113.1% | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 14.1% | - | - | - | - | - | - |
| Net income growth (YoY) | 59.8% | - | - | - | - | - | - |
| EPS growth (YoY) | 97.0% | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - |
| FCF growth (YoY) | -51.4% | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - |
| Book value growth (YoY) | -5.4% | -9.1% | - | - | - | - | - |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Septerna against the 5 most active filers in the same SIC group.