What is SAB BIOTHERAPEUTICS INC's earnings per share (EPS)?

SAB BIOTHERAPEUTICS INC (SABS) reported diluted earnings per share of $-0.79 for fiscal year 2025. 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.

SAB BIOTHERAPEUTICS INC Financials

SABS

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows SAB BIOTHERAPEUTICS INC (SABS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

Rhea AI SABS FY2025 2026-05-12

SAB Biotherapeutics currently runs on recapitalization, while a research-heavy cost base still outpaces operating cash.

The latest year’s $13.3M net income did not mean the business funded itself: operating cash flow was -$44.8M, so accounting profit and cash generation moved in opposite directions. At the same time, financing inflows of $168.3M rebuilt equity and pushed debt-to-equity down to 0.1x, meaning the stronger balance sheet came from recapitalization rather than from commercial cash flow.

Across FY2024 and FY2025, R&D spending remained above SG&A, which is the cost pattern of a company still centered on development work rather than on serving a scaled revenue base. That spending mix helps explain why operating losses persisted even when reported earnings briefly turned positive.

The balance sheet looks liquid on paper because the current ratio reached 9.5x, but cash was only $10.5M against a much larger annual operating burn. In practice, short-term flexibility depends more on recently raised capital sitting across current assets than on cash produced by the business itself.

Financial Health Signals

Financial health score pending refresh

We are recalculating SAB BIOTHERAPEUTICS INC's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Safe

7.32

SAB BIOTHERAPEUTICS INC scores 7.32, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($302.8M) relative to total liabilities ($21.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

SAB BIOTHERAPEUTICS INC passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-3.37x

For every $1 of reported earnings, SAB BIOTHERAPEUTICS INC generates $-3.37 in operating cash flow (-$44.8M OCF vs $13.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-203.4x

SAB BIOTHERAPEUTICS INC earns $-203.4 in operating income for every $1 of interest expense (-$49.0M vs $241K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

YoY-100.0%

SAB BIOTHERAPEUTICS INC generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

-$46.0M

YoY-20.3%

SAB BIOTHERAPEUTICS INC's EBITDA was -$46.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 20.3% from the prior year.

Net Income

$13.3M

YoY+138.9%

5Y CAGR-8.0%

SAB BIOTHERAPEUTICS INC reported $13.3M in net income in fiscal year 2025. This represents an increase of 138.9% from the prior year.

EPS (Diluted)

$-0.79

SAB BIOTHERAPEUTICS INC earned $-0.79 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$45.7M

YoY-32.0%

SAB BIOTHERAPEUTICS INC generated -$45.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 32.0% from the prior year.

Cash & Debt

$10.5M

YoY+18.0%

5Y CAGR-3.6%

SAB BIOTHERAPEUTICS INC held $10.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

48M

SAB BIOTHERAPEUTICS INC had 48M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

8.8%

YoY+140.1pp

5Y CAGR-42.8pp

SAB BIOTHERAPEUTICS INC's ROE was 8.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 140.1 percentage points from the prior year.

Capital Allocation

R&D Spending

$34.4M

YoY+13.6%

5Y CAGR+4.2%

SAB BIOTHERAPEUTICS INC invested $34.4M in research and development in fiscal year 2025. This represents an increase of 13.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$933K

YoY+176.7%

5Y CAGR-40.7%

SAB BIOTHERAPEUTICS INC invested $933K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 176.7% from the prior year.

SABS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0-100.0%	$1.3M-40.9%	$2.2M-90.6%	$23.9M-60.7%	$60.9M+10.2%	$55.2M
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	$34.4M+13.6%	$30.3M+83.2%	$16.5M-54.7%	$36.4M-36.3%	$57.2M+104.9%	$27.9M
SG&A Expenses	$14.6M+4.4%	$14.0M-41.3%	$23.8M+45.3%	$16.4M-4.1%	$17.1M+152.3%	$6.8M
Operating Income	-$49.0M-14.1%	-$42.9M-12.7%	-$38.1M-31.7%	-$28.9M-115.9%	-$13.4M-165.2%	$20.6M
Interest Expense	$241K-24.4%	$318K+1.0%	$315K+4.5%	$302K+2.4%	$294K-37.2%	$469K
Income Tax	$0	$0	$0-100.0%	$26K	$0	$0
Net Income	$13.3M+138.9%	-$34.1M+19.2%	-$42.2M-125.1%	-$18.7M-9.3%	-$17.1M-185.2%	$20.1M
EPS (Diluted)	$-0.79	$-3.68+51.8%	$-7.64-77.3%	$-4.31	$-0.63-185.1%	$0.74

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$263K
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	$13.4M	N/A	$9.0M+28.2%	$7.0M-8.6%	$7.7M	N/A	$7.8M+14.8%	$6.8M
SG&A Expenses	$6.6M	N/A	$3.7M+35.6%	$2.7M-12.2%	$3.1M	N/A	$3.5M-4.5%	$3.6M
Operating Income	-$20.0M	N/A	-$12.7M-30.3%	-$9.7M+9.7%	-$10.8M	N/A	-$11.3M-10.9%	-$10.2M
Interest Expense	$63K	N/A	$43K-32.7%	$64K-7.5%	$70K	N/A	$78K-16.2%	$93K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$18.9M	N/A	$45.4M+549.3%	-$10.1M-94.6%	-$5.2M	N/A	-$10.3M-41.1%	-$7.3M
EPS (Diluted)	$-0.35	N/A	$-0.21	$-1.09-94.6%	$-0.56	N/A	$-1.12-41.8%	$-0.79

SABS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$172.8M+291.0%	$44.2M-47.3%	$83.9M+64.9%	$50.9M-37.3%	$81.1M+43.5%	$56.5M
Current Assets	$101.1M+324.7%	$23.8M-59.6%	$58.9M+166.6%	$22.1M-56.0%	$50.2M+45.7%	$34.5M
Cash & Equivalents	$10.5M+18.0%	$8.9M-84.3%	$56.6M+275.9%	$15.0M-54.7%	$33.2M+163.3%	$12.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$0-100.0%	$5.6M-30.6%	$8.0M-61.1%	$20.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$21.3M+17.0%	$18.2M-31.6%	$26.6M+34.2%	$19.8M-53.4%	$42.6M+143.0%	$17.5M
Current Liabilities	$10.7M+33.9%	$8.0M-26.2%	$10.8M-27.9%	$15.0M-43.3%	$26.5M+139.2%	$11.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$151.5M+483.4%	$26.0M-54.7%	$57.3M+84.5%	$31.1M-19.4%	$38.5M-1.2%	$39.0M
Retained Earnings	-$110.9M+10.7%	-$124.2M-37.9%	-$90.1M-88.1%	-$47.9M-64.3%	-$29.1M-143.1%	-$12.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$248.5M+43.8%	$172.8M-5.8%	$183.4M+508.9%	$30.1M-21.0%	$38.1M-13.7%	$44.2M-17.8%	$53.8M-13.1%	$61.9M
Current Assets	$112.8M+11.6%	$101.1M-10.8%	$113.3M+1117.0%	$9.3M-42.9%	$16.3M-31.5%	$23.8M-26.9%	$32.5M-17.8%	$39.6M
Cash & Equivalents	$20.5M+95.4%	$10.5M-64.3%	$29.4M+696.9%	$3.7M-34.5%	$5.6M-36.6%	$8.9M-3.0%	$9.2M-46.8%	$17.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	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	$21.2M-0.4%	$21.3M+16.0%	$18.4M+1.4%	$18.1M+8.4%	$16.7M-8.3%	$18.2M+7.9%	$16.9M+7.1%	$15.8M
Current Liabilities	$9.9M-7.8%	$10.7M-1.0%	$10.8M+1.1%	$10.7M+10.6%	$9.7M+21.0%	$8.0M-9.5%	$8.8M+16.7%	$7.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$227.2M+50.0%	$151.5M-8.2%	$165.1M+1273.8%	$12.0M-43.9%	$21.4M-17.6%	$26.0M-29.6%	$36.9M-20.0%	$46.1M
Retained Earnings	-$129.8M-17.0%	-$110.9M-17.9%	-$94.0M+32.6%	-$139.5M-7.8%	-$129.4M-4.2%	-$124.2M-10.1%	-$112.8M-10.1%	-$102.4M

SABS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$44.8M-30.6%	-$34.3M-36.5%	-$25.1M-7.1%	-$23.5M-1280.7%	$2.0M-80.1%	$10.0M
Capital Expenditures	$933K+176.7%	$337K+71.1%	$197K-90.9%	$2.2M-80.2%	$10.9M-14.0%	$12.7M
Free Cash Flow	-$45.7M-32.0%	-$34.6M-36.8%	-$25.3M+1.2%	-$25.6M-186.1%	-$9.0M-228.5%	-$2.7M
Investing Cash Flow	-$121.7M-917.4%	-$12.0M-7733.6%	-$153K+92.7%	-$2.1M+80.9%	-$10.9M+14.0%	-$12.7M
Financing Cash Flow	$168.3M+14452.4%	-$1.2M-101.8%	$66.8M+6250.8%	$1.1M-97.1%	$35.9M+299.6%	$9.0M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$14.3M+14.9%	-$16.8M-28.6%	-$13.1M-82.5%	-$7.2M+8.3%	-$7.8M+18.2%	-$9.5M-51.5%	-$6.3M+18.5%	-$7.7M
Capital Expenditures	$983K	N/A	N/A	N/A	N/A	$55K-44.8%	$100K+91.0%	$53K
Free Cash Flow	-$15.3M	N/A	N/A	N/A	N/A	-$9.6M-50.0%	-$6.4M+17.7%	-$7.8M
Investing Cash Flow	-$65.6M-3747.7%	-$1.7M+98.7%	-$129.9M-2598.5%	$5.2M+11.3%	$4.7M-49.9%	$9.3M+909.5%	-$1.2M-110.3%	$11.2M
Financing Cash Flow	$89.9M+215815.8%	-$42K-100.0%	$168.7M+97134.7%	-$174K+0.1%	-$174K-180.2%	$217K+132.2%	-$674K-110.0%	-$321K
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

SABS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-3244.9%-1544.3pp	-1700.6%-1579.6pp	-121.0%-99.0pp	-22.0%-59.2pp	37.2%
Net Margin	N/A	-2579.0%-694.5pp	-1884.5%-1806.1pp	-78.4%-50.2pp	-28.2%-64.6pp	36.4%
Return on Equity	8.8%+140.1pp	-131.3%-57.7pp	-73.6%-13.3pp	-60.3%-15.9pp	-44.5%-96.0pp	51.6%
Return on Assets	7.7%+84.9pp	-77.2%-26.9pp	-50.3%-13.5pp	-36.8%-15.7pp	-21.1%-56.7pp	35.6%
Current Ratio	9.46+6.5	2.98-2.5	5.45+4.0	1.47-0.4	1.90-1.2	3.11
Debt-to-Equity	0.14-0.6	0.70+0.2	0.47-0.2	0.64-0.5	1.10+0.7	0.45
FCF Margin	N/A	-2618.7%-1487.9pp	-1130.7%-1023.5pp	-107.2%-92.5pp	-14.7%-9.8pp	-4.9%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-3877.0%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-2787.7%
Return on Equity	-8.3%	N/A	27.5%+111.7pp	-84.2%-59.9pp	-24.3%	N/A	-28.1%-12.1pp	-15.9%
Return on Assets	-7.6%	N/A	24.8%+58.3pp	-33.6%-19.9pp	-13.6%	N/A	-19.2%-7.4pp	-11.8%
Current Ratio	11.45+2.0	9.46-1.0	10.50+9.6	0.87-0.8	1.69-1.3	2.98-0.7	3.69-1.6	5.24
Debt-to-Equity	0.09-0.0	0.14+0.0	0.11-1.4	1.51+0.7	0.78+0.1	0.70+0.2	0.46+0.1	0.34
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-2952.9%

Similar Companies

Q32 BIO INC QTTB

$213.5M

Lixte Biotechnology Hldgs Inc LIXT

$125.4M

Neuraxis Inc NRXS

$89.3M

CytoMed Therapeutics Ltd GDTC

$11.6M

Nanoviricides NNVC

$37.0M

Frequently Asked Questions

What is SAB BIOTHERAPEUTICS INC's annual revenue?

SAB BIOTHERAPEUTICS INC (SABS) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is SAB BIOTHERAPEUTICS INC's revenue growing?

SAB BIOTHERAPEUTICS INC (SABS) revenue declined by 100% year-over-year, from $1.3M to $0 in fiscal year 2025.

Is SAB BIOTHERAPEUTICS INC profitable?

Yes, SAB BIOTHERAPEUTICS INC (SABS) reported a net income of $13.3M in fiscal year 2025.

What is SAB BIOTHERAPEUTICS INC's EBITDA?

SAB BIOTHERAPEUTICS INC (SABS) had EBITDA of -$46.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is SAB BIOTHERAPEUTICS INC's return on equity (ROE)?

SAB BIOTHERAPEUTICS INC (SABS) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SAB BIOTHERAPEUTICS INC's free cash flow?

SAB BIOTHERAPEUTICS INC (SABS) generated -$45.7M in free cash flow during fiscal year 2025. This represents a -32.0% 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 SAB BIOTHERAPEUTICS INC's operating cash flow?

SAB BIOTHERAPEUTICS INC (SABS) generated -$44.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SAB BIOTHERAPEUTICS INC's total assets?

SAB BIOTHERAPEUTICS INC (SABS) had $172.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are SAB BIOTHERAPEUTICS INC's capital expenditures?

SAB BIOTHERAPEUTICS INC (SABS) invested $933K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does SAB BIOTHERAPEUTICS INC spend on research and development?

SAB BIOTHERAPEUTICS INC (SABS) invested $34.4M in research and development during fiscal year 2025.

How many shares does SAB BIOTHERAPEUTICS INC have outstanding?

SAB BIOTHERAPEUTICS INC (SABS) had 48M shares outstanding as of fiscal year 2025.

What is SAB BIOTHERAPEUTICS INC's current ratio?

SAB BIOTHERAPEUTICS INC (SABS) had a current ratio of 9.46 as of fiscal year 2025, which is generally considered healthy.

What is SAB BIOTHERAPEUTICS INC's debt-to-equity ratio?

SAB BIOTHERAPEUTICS INC (SABS) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SAB BIOTHERAPEUTICS INC's return on assets (ROA)?

SAB BIOTHERAPEUTICS INC (SABS) had a return on assets of 7.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SAB BIOTHERAPEUTICS INC's cash runway?

Based on fiscal year 2025 data, SAB BIOTHERAPEUTICS INC (SABS) had $10.5M in cash against an annual operating cash burn of $44.8M. This gives an estimated cash runway of approximately 3 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 SAB BIOTHERAPEUTICS INC's Altman Z-Score?

SAB BIOTHERAPEUTICS INC (SABS) has an Altman Z-Score of 7.32, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is SAB BIOTHERAPEUTICS INC's Piotroski F-Score?

SAB BIOTHERAPEUTICS INC (SABS) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are SAB BIOTHERAPEUTICS INC's earnings high quality?

SAB BIOTHERAPEUTICS INC (SABS) has an earnings quality ratio of -3.37x, 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.

Can SAB BIOTHERAPEUTICS INC cover its interest payments?

SAB BIOTHERAPEUTICS INC (SABS) has an interest coverage ratio of -203.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.