SPRO · Spero Therapeutics, 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $66.80M | $47.98M | $103.78M | $53.51M | $18.26M | $9.33M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $38.47M | $96.76M | $51.44M | $47.59M | $64.53M | $67.00M |
| SG&A | $21.18M | $23.70M | $25.55M | $36.48M | $41.70M | $21.44M |
| Total Operating Expenses | $60.49M | $121.34M | $82.30M | $95.71M | $106.23M | $88.44M |
| D&A | $0 | $2.0K | $367.0K | $869.0K | $646.0K | $761.0K |
| Operating Income | $6.31M | ($73.36M) | $21.48M | ($42.20M) | ($87.97M) | ($79.11M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $261.0K | $0 | $2.60M | $0 | $0 | $0 |
| Net Income | $8.57M | ($68.57M) | $22.81M | $46.41M | ($89.80M) | ($78.30M) |
| EPS - Basic | $0.15 | ($1.27) | $0.43 | ($1.23) | - | - |
| EPS - Diluted | $0.15 | ($1.27) | $0.43 | ($2.91) | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $40.27M | $52.89M | $76.33M | $109.11M | $112.58M | $85.21M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $693.0K | $7.31M | $1.38M | $617.0K | $1.10M | $1.16M |
| Current Assets | $67.29M | $107.28M | $131.21M | $113.57M | $157.87M | $139.15M |
| Total Assets | $68.92M | $110.54M | $182.39M | $124.80M | $171.07M | $153.45M |
| Current Liabilities | $8.87M | $49.07M | $37.15M | $21.65M | $18.67M | $14.34M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $9.90M | $64.42M | $75.50M | $48.87M | $82.78M | $21.41M |
| Stockholders' Equity | $59.02M | $46.12M | $106.89M | $75.93M | $88.29M | $132.04M |
| Retained Earnings | ($451.07M) | ($459.64M) | ($391.07M) | ($413.88M) | ($367.46M) | ($277.71M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.62M) | ($23.44M) | ($32.99M) | ($7.73M) | ($64.35M) | ($85.87M) |
| Investing Cash Flow | - | - | $0 | $33.81M | $7.67M | $10.47M |
| Financing Cash Flow | - | $0 | $221.0K | ($29.55M) | $84.05M | $130.88M |
| CapEx | - | - | - | - | - | $157.0K |
| Free Cash Flow | - | - | - | - | - | ($86.03M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 9.5% | -152.9% | 20.7% | -78.9% | -481.9% | -847.9% |
| EBITDA margin | 9.5% | -152.9% | 21.1% | -77.2% | -478.3% | -839.8% |
| Net margin | 12.8% | -142.9% | 22.0% | 86.7% | -491.9% | -839.2% |
| Free cash flow margin | - | - | - | - | - | -922.1% |
| FCF / Net income | - | - | - | - | - | 1.10 |
| R&D / Revenue | 57.6% | 201.7% | 49.6% | 88.9% | 353.5% | 718.1% |
| SG&A / Revenue | 31.7% | 49.4% | 24.6% | 68.2% | 228.4% | 229.8% |
| Effective tax rate | 3.0% | - | 10.2% | 0.0% | - | - |
| Return on assets | 12.4% | -62.0% | 12.5% | 37.2% | -52.5% | -51.0% |
| Return on equity | 14.5% | -148.7% | 21.3% | 61.1% | -101.7% | -59.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 7.59 | 2.19 | 3.53 | 5.25 | 8.46 | 9.70 |
| Quick ratio | 7.59 | 2.19 | 3.53 | 5.25 | 8.46 | 9.70 |
| Cash ratio | 4.54 | 1.08 | 2.05 | 5.04 | 6.03 | 5.94 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.17 | 2.40 | 1.71 | 1.64 | 1.94 | 1.16 |
| Liabilities / Assets | 0.14 | 0.58 | 0.41 | 0.39 | 0.48 | 0.14 |
| Efficiency | ||||||
| Asset turnover | 0.97 | 0.43 | 0.57 | 0.43 | 0.11 | 0.06 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 15.5x | - | 3.4x | - | - | - |
| P / B | 2.3x | 1.2x | 0.7x | 0.7x | - | - |
| P / S | 2.1x | 1.2x | 0.8x | 1.0x | - | - |
| EV / EBITDA | 15.4x | - | 0.1x | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 39.2% | -53.8% | 94.0% | 193.1% | 95.7% | -48.6% |
| Revenue CAGR (3y) | 7.7% | 38.0% | 123.2% | 43.4% | 279.1% | - |
| Revenue CAGR (5y) | 48.2% | 21.5% | 214.9% | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | 52.0% | -11.2% | -25.1% |
| Net income growth (YoY) | - | - | -50.9% | - | -14.7% | -28.6% |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | -70.9% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 28.0% | -56.9% | 40.8% | -14.0% | -33.1% | 77.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$74.10M totalCollaboration Revenue Related Party$47.03M · 63.5%
Collaboration Revenue$12.59M · 17.0%
Grant$7.20M · 9.7%
Grant Revenue$7.18M · 9.7%
SPRTwo Zero Six$100.0K · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-1.18
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Spero Therapeutics against the 5 most active filers in the same SIC group.