Seres Therapeutics Inc Financials

MCRB

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Seres Therapeutics Inc (MCRB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Seres Therapeutics Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

-1092.71x

For every $1 of reported earnings, Seres Therapeutics Inc generates $-1092.71 in operating cash flow (-$148.6M OCF vs $136K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

N/A

EBITDA

-$115.8M

YoY+38.7%

Seres Therapeutics Inc's EBITDA was -$115.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38.7% from the prior year.

Free Cash Flow

-$149.0M

YoY-18.9%

Seres Therapeutics Inc generated -$149.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 18.9% from the prior year.

Net Income

$136K

YoY+100.1%

Seres Therapeutics Inc reported $136K in net income in fiscal year 2024. This represents an increase of 100.1% from the prior year.

EPS (Diluted)

$0.00

Seres Therapeutics Inc earned $0.00 per diluted share (EPS) in fiscal year 2024. This represents an increase of 100.0% from the prior year.

Cash & Debt

$30.8M

YoY-75.9%

5Y CAGR-13.9%

10Y CAGR-12.3%

Seres Therapeutics Inc held $30.8M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

Seres Therapeutics Inc had 9M shares outstanding in fiscal year 2024. This represents a decrease of 93.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

1.0%

Seres Therapeutics Inc's ROE was 1.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

$64.6M

YoY-45.1%

5Y CAGR-4.2%

10Y CAGR+19.7%

Seres Therapeutics Inc invested $64.6M in research and development in fiscal year 2024. This represents a decrease of 45.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$380K

YoY-95.2%

5Y CAGR-17.6%

10Y CAGR-9.2%

Seres Therapeutics Inc invested $380K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 95.2% from the prior year.

MCRB Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	$126.3M+1672.2%	$7.1M-95.1%	$144.9M+336.3%	$33.2M-3.7%	$34.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$64.6M-45.1%	$117.6M+7.2%	$109.7M-22.7%	$141.9M+56.7%	$90.6M+13.0%	$80.1M
SG&A Expenses	$53.2M-31.4%	$77.5M+10.3%	$70.3M+1.4%	$69.3M+125.1%	$30.8M+24.4%	$24.7M
Operating Income	-$121.3M+37.8%	-$195.1M-8.4%	-$179.9M-179.0%	-$64.5M+26.8%	-$88.1M-22.6%	-$71.9M
Interest Expense	$0-100.0%	$2.5M-59.0%	$6.0M+106.9%	$2.9M-0.5%	$2.9M+482.5%	$502K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	$136K+100.1%	-$113.7M+54.5%	-$250.2M-281.5%	-$65.6M+26.4%	-$89.1M-26.8%	-$70.3M
EPS (Diluted)	$0.00	$-0.89+61.5%	$-2.31-220.8%	$-0.72+35.7%	$-1.12	N/A

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	$351K	$0	$0	$0-100.0%	$64K-79.4%	$310K-99.8%	$126.5M+24328.5%	-$522K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$12.6M-23.4%	$16.5M+4.1%	$15.8M-18.9%	$19.5M+1059.0%	$1.7M-93.3%	$25.2M-46.2%	$46.8M+6.4%	$44.0M
SG&A Expenses	$9.5M-25.4%	$12.7M-2.7%	$13.1M-12.6%	$14.9M+98.0%	$7.5M-61.2%	$19.4M-30.7%	$28.1M+24.8%	$22.5M
Operating Income	-$22.5M+22.9%	-$29.2M-1.0%	-$28.9M+16.2%	-$34.4M+73.4%	-$129.5M-190.4%	-$44.6M-190.0%	$49.5M+170.2%	-$70.6M
Interest Expense	$0	$0	$0-100.0%	$618K+123.2%	-$2.7M	$0-100.0%	$3.2M+63.6%	$1.9M
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	$8.2M-90.8%	$88.8M+370.1%	-$32.9M+18.1%	-$40.1M+2.7%	-$41.2M+13.8%	-$47.9M-202.8%	$46.6M+165.4%	-$71.2M
EPS (Diluted)	$0.94-91.9%	$11.63	$-4.34+20.9%	$-5.49-1671.0%	$-0.31+16.2%	$-0.37-202.8%	$0.36+163.2%	$-0.57

MCRB Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$139.8M-61.0%	$358.6M+2.8%	$348.8M-1.7%	$354.9M+3.5%	$342.9M+158.9%	$132.4M
Current Assets	$38.7M-78.0%	$175.4M-9.9%	$194.8M-35.9%	$303.6M+13.0%	$268.8M+168.3%	$100.2M
Cash & Equivalents	$30.8M-75.9%	$128.0M-21.5%	$163.0M-9.4%	$180.0M+55.1%	$116.0M+78.2%	$65.1M
Inventory	N/A	$29.6M	$0	N/A	N/A	N/A
Accounts Receivable	$0	N/A	N/A	N/A	$9.4M+425.9%	$1.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$126.0M-68.8%	$403.5M+19.4%	$338.0M+51.3%	$223.4M+32.8%	$168.2M-7.0%	$180.8M
Current Liabilities	$41.2M-58.2%	$98.7M+15.3%	$85.6M+4.1%	$82.3M+77.2%	$46.4M+0.9%	$46.0M
Long-Term Debt	N/A	$110.0M+120.0%	$50.0M+107.9%	$24.1M-3.8%	$25.0M0.0%	$25.0M
Total Equity	$13.8M+130.7%	-$44.9M-516.0%	$10.8M-91.8%	$131.5M-24.7%	$174.8M+461.6%	-$48.3M
Retained Earnings	-$978.1M0.0%	-$978.2M-13.2%	-$864.5M-40.7%	-$614.4M-11.9%	-$548.8M-19.4%	-$459.6M

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$143.5M+2.6%	$139.8M-56.5%	$321.7M-5.7%	$341.3M-4.8%	$358.6M-2.5%	$367.7M-9.5%	$406.4M+50.4%	$270.2M
Current Assets	$51.5M+33.2%	$38.7M-74.1%	$149.3M-9.6%	$165.2M-5.8%	$175.4M-18.2%	$214.4M-14.7%	$251.2M+116.4%	$116.1M
Cash & Equivalents	$47.6M+54.7%	$30.8M-56.8%	$71.2M-35.9%	$111.2M-13.1%	$128.0M-24.7%	$169.9M-26.0%	$229.5M+142.0%	$94.8M
Inventory	N/A	N/A	$53.0M+26.3%	$42.0M+41.6%	$29.6M+60.0%	$18.5M+246.9%	$5.3M	N/A
Accounts Receivable	$351K	$0	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$99.8M-20.8%	$126.0M-69.2%	$408.8M+1.9%	$401.0M-0.6%	$403.5M+5.4%	$382.8M-0.2%	$383.8M+20.7%	$318.1M
Current Liabilities	$22.4M-45.6%	$41.2M-61.9%	$108.3M+10.0%	$98.5M-0.2%	$98.7M+24.5%	$79.2M+1.7%	$77.9M+22.1%	$63.8M
Long-Term Debt	N/A	N/A	$110.0M0.0%	$110.0M0.0%	$110.0M0.0%	$110.0M0.0%	$110.0M+120.0%	$50.0M
Total Equity	$43.7M+217.0%	$13.8M+115.8%	-$87.1M-45.8%	-$59.7M-33.2%	-$44.9M-196.6%	-$15.1M-166.9%	$22.6M+147.2%	-$47.9M
Retained Earnings	-$957.1M+2.2%	-$978.1M+7.0%	-$1.1B-3.2%	-$1.0B-4.1%	-$978.2M-4.4%	-$937.0M-5.4%	-$889.1M+5.0%	-$935.7M

MCRB Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$148.6M-26.6%	-$117.4M+48.7%	-$228.8M-3521.3%	$6.7M+107.1%	-$93.6M-22.3%	-$76.5M
Capital Expenditures	$380K-95.2%	$8.0M-18.8%	$9.8M+2.7%	$9.6M+1518.6%	$591K-41.0%	$1.0M
Free Cash Flow	-$149.0M-18.9%	-$125.3M+47.5%	-$238.6M-8191.8%	-$2.9M+96.9%	-$94.2M-21.5%	-$77.5M
Investing Cash Flow	$142.3M+1244.7%	$10.6M-87.2%	$82.4M+28.6%	$64.1M+140.3%	-$158.9M-420.6%	-$30.5M
Financing Cash Flow	-$90.4M-226.0%	$71.7M-44.7%	$129.6M+10901.9%	$1.2M-99.6%	$303.4M+251.9%	$86.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	$2.2M+105.7%	-$38.9M+2.3%	-$39.8M-13.0%	-$35.2M+25.8%	-$47.5M+19.8%	-$59.3M-189.8%	$66.0M+186.2%	-$76.6M
Capital Expenditures	$8K-91.1%	$90K-9.1%	$99K+59.7%	$62K-92.9%	$877K-51.2%	$1.8M+45.7%	$1.2M-69.7%	$4.1M
Free Cash Flow	$2.2M+105.6%	-$39.0M+2.4%	-$39.9M-13.1%	-$35.3M+27.0%	-$48.4M+20.8%	-$61.1M-194.3%	$64.8M+180.3%	-$80.7M
Investing Cash Flow	-$8K+91.1%	-$90K-106.9%	$1.3M+2200.0%	-$62K+92.9%	-$877K+51.2%	-$1.8M-117.1%	$10.5M+284.0%	$2.7M
Financing Cash Flow	$61K-96.5%	$1.7M	$0-100.0%	$18.8M+191.8%	$6.4M+345.5%	$1.4M-97.5%	$58.2M+928.6%	$5.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MCRB Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-154.4%+2369.6pp	-2524.1%-2479.6pp	-44.5%+220.8pp	-265.3%-57.0pp	-208.3%
Net Margin	N/A	-90.0%+3419.5pp	-3509.5%-3464.3pp	-45.3%+223.1pp	-268.3%-64.7pp	-203.7%
Return on Equity	1.0%	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.1%+31.8pp	-31.7%+40.0pp	-71.7%-53.2pp	-18.5%+7.5pp	-26.0%+27.1pp	-53.1%
Current Ratio	0.94-0.8	1.78-0.5	2.28-1.4	3.69-2.1	5.79+3.6	2.18
Debt-to-Equity	9.14+11.6	-2.45-7.1	4.64+4.5	0.18+0.0	0.14+0.7	-0.52
FCF Margin	N/A	-99.2%+3248.7pp	-3347.9%-3345.9pp	-2.0%+281.6pp	-283.6%-58.9pp	-224.7%

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-6403.7%	N/A	N/A	N/A	-202292.2%-187909.6pp	-14382.6%-14421.7pp	39.2%	N/A
Net Margin	2337.3%	N/A	N/A	N/A	-64450.0%-49013.2pp	-15436.8%-15473.6pp	36.8%	N/A
Return on Equity	18.8%-352.4pp	371.1%	N/A	N/A	N/A	N/A	205.8%	N/A
Return on Assets	5.7%-44.0pp	49.7%+59.9pp	-10.2%+1.5pp	-11.8%-0.3pp	-11.5%+1.5pp	-13.0%-24.5pp	11.5%+37.8pp	-26.3%
Current Ratio	2.30+1.4	0.94-0.4	1.38-0.3	1.68-0.1	1.78-0.9	2.71-0.5	3.23+1.4	1.82
Debt-to-Equity	2.28-6.9	9.14+10.4	-1.26+0.6	-1.84+0.6	-2.45+4.8	-7.27-12.1	4.86+5.9	-1.04
FCF Margin	626.2%	N/A	N/A	N/A	-75587.5%-55893.3pp	-19694.2%-19745.4pp	51.2%	N/A

Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Seres Therapeutics Inc profitable?

Yes, Seres Therapeutics Inc (MCRB) reported a net income of $136K in fiscal year 2024.

What is Seres Therapeutics Inc's earnings per share (EPS)?

Seres Therapeutics Inc (MCRB) reported diluted earnings per share of $0.00 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Seres Therapeutics Inc's EBITDA?

Seres Therapeutics Inc (MCRB) had EBITDA of -$115.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Seres Therapeutics Inc's return on equity (ROE)?

Seres Therapeutics Inc (MCRB) has a return on equity of 1.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Seres Therapeutics Inc's free cash flow?

Seres Therapeutics Inc (MCRB) generated -$149.0M in free cash flow during fiscal year 2024. This represents a -18.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Seres Therapeutics Inc's operating cash flow?

Seres Therapeutics Inc (MCRB) generated -$148.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Seres Therapeutics Inc's total assets?

Seres Therapeutics Inc (MCRB) had $139.8M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Seres Therapeutics Inc's capital expenditures?

Seres Therapeutics Inc (MCRB) invested $380K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Seres Therapeutics Inc spend on research and development?

Seres Therapeutics Inc (MCRB) invested $64.6M in research and development during fiscal year 2024.

How many shares does Seres Therapeutics Inc have outstanding?

Seres Therapeutics Inc (MCRB) had 9M shares outstanding as of fiscal year 2024.

What is Seres Therapeutics Inc's current ratio?

Seres Therapeutics Inc (MCRB) had a current ratio of 0.94 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Seres Therapeutics Inc's debt-to-equity ratio?

Seres Therapeutics Inc (MCRB) had a debt-to-equity ratio of 9.14 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Seres Therapeutics Inc's return on assets (ROA)?

Seres Therapeutics Inc (MCRB) had a return on assets of 0.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Seres Therapeutics Inc's cash runway?

Based on fiscal year 2024 data, Seres Therapeutics Inc (MCRB) had $30.8M in cash against an annual operating cash burn of $148.6M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Seres Therapeutics Inc's Piotroski F-Score?

Seres Therapeutics Inc (MCRB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Seres Therapeutics Inc's earnings high quality?

Seres Therapeutics Inc (MCRB) has an earnings quality ratio of -1092.71x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.