Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Spero Therapeutics, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.34
1.98
3.97
18.1
9.33
18.3
53.5
104
48
66.8
Research and development
26.3
32.9
33.9
65.8
67
64.5
47.6
51.4
96.8
38.5
General and administrative
7.22
10.8
12.9
15.6
21.4
41.7
36.5
25.6
23.7
21.2
Operating expenses
33.6
43.7
46.8
81.4
88.4
106
95.7
82.3
121
60.5
Operating income
-33.2
-41.7
-42.8
-63.2
-79.1
-88
-42.2
21.5
-73.4
6.31
Interest income
1.1
1.33
0.4
0.35
1.11
3.94
4.74
2.51
Other non-operating income
0.58
1.84
1.14
2.29
0.83
-1.79
-4.22
3.92
4.8
2.52
Pre-tax income
-32.6
-39.9
-41.7
-60.9
-78.3
-89.8
-46.4
25.4
-68.6
8.83
Income tax
0
0
0
0
0
0
0
2.6
0
0.26
Net income to minority interests
-7.15
-1.14
Net income
-25.5
-38.7
-41.7
-60.9
-78.3
-89.8
46.4
22.8
-68.6
8.57
EBITDA
-32.9
-41.4
-42.4
-62.5
-78.4
-87.3
-41.3
21.8
-73.4
6.31
EPS, basic
-95.87
-17.82
-2.60
-3.35
-3.52
-2.91
-1.23
0.43
-1.27
0.15
EPS, diluted
-95.87
-17.82
-2.60
-3.35
-3.52
-2.91
-1.23
0.43
-1.27
0.15
Shares, basic (weighted)
0.31
2.59
16
18.2
22.4
30.9
37.6
52.7
54
56
Shares, diluted (weighted)
0.31
2.59
16
18.2
22.4
30.9
37.6
53
54
59
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
10.3
87.3
34.1
29.7
85.2
113
109
76.3
52.9
40.3
Short-term investments
81.4
52.3
41.7
33.8
0
Other current assets
1.25
1.83
7.48
4.82
6.06
8.83
3.38
4.18
1.91
0.03
Total current assets
11.9
92.1
124
95.4
139
158
114
131
107
67.3
Property, plant and equipment
1.5
1.16
2.89
2.27
1.67
1.03
0.37
0
0
Lease right-of-use assets
4.88
7.11
6.53
5.12
4.16
3.11
1.48
Other non-current assets
1.66
3.52
5.21
5.64
5.74
0.44
0.15
0.15
Total assets
13.8
93.5
129
106
153
171
125
182
111
68.9
Accounts payable
1.14
3.47
3.6
4.15
1.16
1.1
0.62
1.38
7.31
0.69
Accrued liabilities
1.02
1.37
2.38
2.63
3.92
5.88
5.8
3.34
5.46
3.06
Deferred revenue
0
1.86
4.15
2.13
0.37
0
Total current liabilities
6.92
8.16
12.3
26.7
14.3
18.7
21.6
37.2
49.1
8.87
Lease liabilities
4.62
6.89
5.97
4.96
3.83
2.55
0.94
Total liabilities
7.41
8.52
13.2
31.5
21.4
82.8
48.9
75.5
64.4
9.9
Paid-in capital
0
181
254
274
410
456
490
498
506
510
Retained earnings
-45.4
-96.8
-139
-199
-278
-367
-414
-391
-460
-451
Other comprehensive income
-0.03
0.02
-0.01
-0
0
0
Shareholders' equity
-45.4
84.6
116
74.6
132
88.3
75.9
107
46.1
59
Minority interests
-3.81
0.36
0.36
Total equity
-49.2
85
116
74.6
132
88.3
75.9
107
46.1
59
Total liabilities and equity
13.8
93.5
129
106
153
171
125
182
111
68.9
Shares outstanding
0
14.4
17.2
19.2
29.3
32.4
52.5
53
54.6
56.4
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-32.6
-39.9
-41.7
-60.9
-78.3
-89.8
-46.4
22.8
-68.6
8.57
Depreciation and amortization
0.28
0.36
0.41
0.75
0.76
0.65
0.87
0.37
0
0
Stock-based compensation
0.18
1.43
2.75
3.78
4.89
9.43
9.12
7.93
7.79
4.33
Deferred income tax
0
0
0
Change in payables
-0.64
2.35
0.08
0.56
-2.98
-0.05
-0.48
0.76
5.93
-6.61
Cash from operations
-29
-39.1
-39.6
-50
-85.9
-64.3
-7.73
-33
-23.4
-12.6
Capital expenditures
-0.83
-0.03
-2.44
-0.31
-0.16
Purchases of investments
-130
-89
-45.7
-43.9
-27
0
Sales and maturities of investments
49.5
119
56.4
51.5
60.8
0
Cash from investing
-0.83
-0.03
-83.2
29.5
10.5
7.67
33.8
0
Stock issued
0.34
15.8
13.2
7.83
0.42
0.22
0
Cash from financing
34.4
116
69.5
16.1
131
84.1
-29.6
0.22
0
Net change in cash
4.62
77
-53.3
-4.35
55.5
27.4
-3.48
-32.8
-23.4
-12.6
Free cash flow
-29.8
-39.1
-42.1
-50.3
-86
Income taxes paid
0
2.21
0.1
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.23 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
12.8%
Operating income / revenue.
Net margin
15.7%
Net income / revenue.
Operating cash flow margin
41.7%
Cash from operations / revenue.
Return on equity (ROE)
16.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
14.0%
Net income / average total assets.
R&D / revenue
43.7%
Research and development expense / revenue.
Stock-based pay / revenue
8.5%
Stock-based compensation (from the cash flow statement) / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
39.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
7.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
48.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y
-43.1%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
28.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-8.1%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-14.9%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-37.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-18.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-14.8%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
9.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
16.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
21.4%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
6.12x
Current assets / current liabilities.
Quick ratio
6.02x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
6.02x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.81
Revenue / diluted weighted shares.
Operating cash flow per share
$0.34
Cash from operations / diluted weighted shares.
Book value per share
$0.76
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
9.70x
Market cap / net income. Only when net income is positive.
P/S
1.52x
Market cap / revenue.
P/B
1.62x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.62x
Market cap / tangible book value, when positive.
P/OCF
3.66x
Market cap / cash from operations, when positive.
EV/Sales
0.44x
Enterprise value / revenue.
EV/EBIT
3.46x
Enterprise value / operating income, when both are positive.
Earnings yield
10.3%
Net income / market cap (the inverse of P/E).
What was Spero Therapeutics, Inc.'s revenue in fiscal 2025?
Spero Therapeutics, Inc. reported revenue of $66.8M for fiscal 2025, 39.2% higher than the year before.
Was Spero Therapeutics, Inc. profitable in fiscal 2025?
Yes. Net income was $8.6M, a net margin of 12.8%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.