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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $258.0K | - | $5.44M | $14.19M | $5.87M | - | $13.47M | $10.20M | $9.27M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $2.91M | - | $8.60M | $10.67M | $13.61M | - | $26.86M | $23.73M | $17.33M | - |
| SG&A | $4.89M | - | $4.17M | $5.88M | $6.82M | - | $5.20M | $5.53M | $5.92M | - |
| Total Operating Expenses | $7.80M | - | $13.36M | $16.63M | $20.61M | - | $32.06M | $29.26M | $23.25M | - |
| D&A | - | - | - | - | - | - | - | - | $0 | - |
| Operating Income | ($7.54M) | - | ($7.92M) | ($2.44M) | ($14.73M) | - | ($18.59M) | ($19.06M) | ($13.98M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | $0 | - | - | - | ($290.0K) | - | - | - |
| Net Income | ($7.20M) | - | ($17.15M) | ($1.70M) | ($13.87M) | - | ($17.15M) | ($17.90M) | ($12.70M) | - |
| EPS - Basic | ($0.13) | - | ($0.13) | ($0.03) | ($0.25) | - | ($0.32) | ($0.33) | ($0.24) | - |
| EPS - Diluted | ($0.13) | - | ($0.13) | ($0.03) | ($0.25) | - | ($0.32) | ($0.33) | ($0.24) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $56.13M | $40.27M | $48.62M | $31.19M | $48.89M | $52.89M | $76.29M | $63.53M | $82.27M | $76.33M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $217.0K | $693.0K | $1.40M | $780.0K | $1.76M | $7.31M | $6.09M | $2.70M | $3.07M | $1.38M |
| Current Assets | $57.61M | $67.29M | $52.32M | $59.40M | $74.71M | $107.28M | $131.63M | $122.22M | $140.15M | $131.21M |
| Total Assets | $59.02M | $68.92M | $54.17M | $62.12M | $77.71M | $110.54M | $135.16M | $149.88M | $167.70M | $182.39M |
| Current Liabilities | $5.49M | $8.87M | $13.65M | $14.95M | $29.16M | $49.07M | $49.10M | $45.63M | $41.82M | $37.15M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $6.09M | $9.90M | $27.68M | $29.29M | $43.90M | $64.42M | $69.65M | $69.38M | $71.45M | $75.50M |
| Stockholders' Equity | $52.93M | $59.02M | $26.49M | $32.83M | $33.81M | $46.12M | $65.51M | $80.50M | $96.25M | $106.89M |
| Retained Earnings | ($458.27M) | ($451.07M) | ($482.59M) | ($475.20M) | ($473.50M) | ($459.64M) | ($438.75M) | ($421.60M) | ($403.74M) | ($391.07M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $15.86M | - | - | - | ($4.00M) | - | - | - | $5.94M | - |
| Investing Cash Flow | - | - | - | - | - | - | - | - | - | - |
| Financing Cash Flow | - | - | - | - | - | - | - | - | - | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -2921.7% | - | -145.5% | -17.2% | -250.8% | - | -138.0% | -186.9% | -150.9% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | -150.9% | - |
| Net margin | -2791.9% | - | -315.1% | -12.0% | -236.1% | - | -127.3% | -175.5% | -137.0% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 1127.5% | - | 158.0% | 75.2% | 231.6% | - | 199.5% | 232.7% | 187.0% | - |
| SG&A / Revenue | 1894.2% | - | 76.7% | 41.4% | 116.2% | - | 38.6% | 54.3% | 63.9% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -12.2% | - | -31.7% | -2.7% | -17.8% | - | -12.7% | -11.9% | -7.6% | - |
| Return on equity | -13.6% | - | -64.7% | -5.2% | -41.0% | - | -26.2% | -22.2% | -13.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 10.50 | 7.59 | 3.83 | 3.97 | 2.56 | 2.19 | 2.68 | 2.68 | 3.35 | 3.53 |
| Quick ratio | 10.50 | 7.59 | 3.83 | 3.97 | 2.56 | 2.19 | 2.68 | 2.68 | 3.35 | 3.53 |
| Cash ratio | 10.23 | 4.54 | 3.56 | 2.09 | 1.68 | 1.08 | 1.55 | 1.39 | 1.97 | 2.05 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.11 | 1.17 | 2.04 | 1.89 | 2.30 | 2.40 | 2.06 | 1.86 | 1.74 | 1.71 |
| Liabilities / Assets | 0.10 | 0.14 | 0.51 | 0.47 | 0.56 | 0.58 | 0.52 | 0.46 | 0.43 | 0.41 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | - | 0.10 | 0.23 | 0.08 | - | 0.10 | 0.07 | 0.06 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 2.5x | - | 4.0x | 4.9x | 1.2x | - | 1.1x | 0.9x | 1.0x | - |
| P / S | 519.5x | - | 19.4x | 11.5x | 6.8x | - | 5.4x | 6.9x | 9.9x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -95.6% | - | -59.6% | 39.1% | -36.6% | - | -47.1% | 275.4% | 347.9% | - |
| Revenue CAGR (3y) | -50.0% | - | 39.5% | 92.4% | 41.6% | - | 63.8% | 25.6% | 8.3% | - |
| Revenue CAGR (5y) | -48.8% | - | 6.4% | 52.4% | 28.1% | - | 23.7% | 36.4% | 3.7% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 48.8% | - | 57.4% | 87.2% | -5.4% | - | -861.4% | -47.9% | 1.7% | - |
| Net income growth (YoY) | 48.1% | - | 0.0% | 90.5% | -9.2% | - | -435.8% | -50.4% | 4.5% | - |
| EPS growth (YoY) | 48.0% | - | 59.4% | 90.9% | -4.2% | - | -433.3% | -43.5% | 4.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 56.5% | 28.0% | -59.6% | -59.2% | -64.9% | -56.9% | 22.0% | 46.9% | 48.4% | 40.8% |
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%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Spero Therapeutics against the 5 most active filers in the same SIC group.