SAB Biotherapeutics, Inc. Warrant (SABSW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SABSW SEC filings page.
SAB Biotherapeutics, Inc. Warrant (SABSW) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its 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).
Development-stage economics remain cash-consuming, while 2025 financing—not operations—expanded the balance sheet.
The positive 2025 net income of$13.3M conflicts with an operating loss of$49.0M and operating cash flow of-$44.8M , indicating that reported earnings were shaped by non-operating or accounting items rather than cash-generating operations. That gap makes net income a poor standalone measure of the business’s operating progress.
Commercial revenue remains small relative to development spending: revenue declined from
The 2025 balance sheet became substantially larger and less liability-funded: total assets reached
Financial Health Signals
SAB Biotherapeutics, Inc. Warrant does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
SAB Biotherapeutics, Inc. Warrant 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.
For every $1 of reported earnings, SAB Biotherapeutics, Inc. Warrant used $3.37 of operating cash (-$44.8M OCF vs $13.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
SAB Biotherapeutics, Inc. Warrant reported an operating loss of $49.0M against $241K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
SAB Biotherapeutics, Inc. Warrant's EBITDA was -$22.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 152.8% from the same quarter a year earlier. Against the prior quarter it is down 17.2%.
SAB Biotherapeutics, Inc. Warrant reported -$22.5M in net income in Q2 2026. This represents a decrease of 122.4% from the same quarter a year earlier. Against the prior quarter it is down 19.2%.
SAB Biotherapeutics, Inc. Warrant earned -$0.28 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 20.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
SAB Biotherapeutics, Inc. Warrant recorded an outflow of $11.4M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is up 25.1%.
SAB Biotherapeutics, Inc. Warrant held $8.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
SAB Biotherapeutics, Inc. Warrant's ROE was -10.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 73.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
SAB Biotherapeutics, Inc. Warrant invested $16.2M in research and development in Q2 2026. This represents an increase of 131.1% from the same quarter a year earlier. Against the prior quarter it is up 20.7%.
SAB Biotherapeutics, Inc. Warrant invested $1.6M in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 61.3%.
Not reported for Q2 2026.
SABSW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $16.2M+131.1% | $13.4M+75.0% | N/A | $9.0M+14.5% | $7.0M+2.6% | $7.7M-6.0% | N/A | $7.8M+94.8% |
| SG&A Expenses | $7.2M+163.4% | $6.6M+111.9% | N/A | $3.7M+6.6% | $2.7M-24.9% | $3.1M-25.6% | N/A | $3.5M+35.3% |
| Operating Income | -$23.4M-140.2% | -$20.0M-85.6% | N/A | -$12.7M-12.1% | -$9.7M+4.6% | -$10.8M+5.4% | N/A | -$11.3M-112.5% |
| EBITDA | -$22.6M-152.8% | -$19.3M-92.4% | N/A | -$12.0M-15.1% | -$8.9M+2.9% | -$10.0M-6.2% | N/A | -$10.4M-140.8% |
| Interest Expense | $62K-3.1% | $63K-9.8% | N/A | $43K-44.5% | $64K-31.3% | $70K-8.9% | N/A | $78K+12.0% |
| Net Income | -$22.5M-122.4% | -$18.9M-263.1% | N/A | $45.4M+539.1% | -$10.1M-37.9% | -$5.2M-3.4% | N/A | -$10.3M-102.8% |
| EPS (Basic) | -$0.28+74.3% | -$0.35+37.5% | -$0.51+58.5% | $0.50+144.6% | -$1.09-38.0% | -$0.56-3.7% | -$1.23+83.1% | -$1.12-15.5% |
| EPS (Diluted) | -$0.28 | -$0.35 | -$0.46 | -$0.21 | -$1.09-38.0% | -$0.56-3.7% | -$1.23+83.1% | -$1.12 |
| Diluted Shares (Avg) | 80M | 54M | N/A | 78M | 9M+0.4% | 9M+0.5% | N/A | 9M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
SABSW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $238.2M+690.6% | $248.5M+551.8% | $172.8M+291.0% | $183.4M+241.0% | $30.1M-51.3% | $38.1M-46.6% | $44.2M-47.3% | $53.8M+89.9% |
| Current Assets | $107.9M+1059.6% | $112.8M+592.1% | $101.1M+324.7% | $113.3M+248.1% | $9.3M-76.5% | $16.3M-65.3% | $23.8M-59.6% | $32.5M+940.3% |
| Cash & Equivalents | $8.3M+123.9% | $20.5M+263.8% | $10.5M+18.0% | $29.4M+220.8% | $3.7M-78.6% | $5.6M-59.8% | $8.9M-84.3% | $9.2M+278.1% |
| Short-Term Investments | $94.4M+4568.4% | $86.9M+1104.9% | $86.1M+625.7% | $81.5M+283.7% | $2.0M-89.9% | $7.2M-76.0% | $11.9M | $21.2M |
| Long-Term Investments | $105.3M | $110.2M | $46.9M | $50.6M | $0 | $0-100.0% | $0 | $0 |
| Total Liabilities | $23.4M+29.3% | $21.2M+27.0% | $21.3M+16.9% | $18.4M+8.8% | $18.1M+14.8% | $16.7M-9.9% | $18.2M-31.6% | $16.9M+29.2% |
| Current Liabilities | $11.7M+9.6% | $9.9M+2.1% | $10.7M+33.9% | $10.8M+22.4% | $10.7M+41.4% | $9.7M+16.2% | $8.0M-26.2% | $8.8M-4.3% |
| Non-Current Liabilities | $11.7M+57.6% | $11.4M+61.1% | $10.6M+3.8% | $7.6M-6.2% | $7.4M-9.5% | $7.1M-31.1% | $10.2M-35.3% | $8.1M+108.8% |
| Total Equity | $214.8M+1687.5% | $227.2M+961.5% | $151.5M+483.3% | $165.1M+347.3% | $12.0M-73.9% | $21.4M-59.5% | $26.0M-54.7% | $36.9M+141.9% |
| Retained Earnings | -$152.3M-9.2% | -$129.8M-0.3% | -$110.9M+10.7% | -$94.0M+16.6% | -$139.5M-36.2% | -$129.4M-36.0% | -$124.2M-37.9% | -$112.8M-67.8% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
SABSW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.8M-37.6% | -$14.3M-83.0% | -$16.8M-76.0% | -$13.0M-107.4% | -$7.2M+7.3% | -$7.8M+27.5% | -$9.5M+29.1% | -$6.3M-21.8% |
| Depreciation & Amortization | $800K0.0% | $731K-3.4% | $742K-2.9% | $700K-22.2% | $800K-20.0% | $757K-61.5% | $764K-17.2% | $900K-10.0% |
| Stock-Based Compensation | $7.2M+1055.8% | $5.5M+790.8% | N/A | $801K-23.6% | $627K+4.3% | $613K-0.7% | N/A | $1.0M+64.1% |
| Capital Expenditures | $1.6M | $983K | N/A | N/A | N/A | N/A | $55K-18.4% | $100K+17.6% |
| Free Cash Flow | -$11.4M | -$15.3M | N/A | N/A | N/A | N/A | -$9.6M+29.1% | -$6.4M-21.7% |
| Investing Cash Flow | -$4.9M-193.9% | -$65.6M-1505.4% | -$1.7M-118.3% | -$129.9M-11167.1% | $5.2M-53.7% | $4.7M+114.9% | $9.3M+13849.2% | -$1.2M-2721.2% |
| Financing Cash Flow | $2.4M+1458.4% | $89.9M+51783.3% | -$42K-119.2% | $168.7M+25123.2% | -$174K+45.8% | -$174K+55.9% | $217K-99.7% | -$674K-380.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SABSW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -10.5%+73.7pp | -8.3%+16.0pp | N/A | 27.5%+55.6pp | -84.2%-68.3pp | -24.3%-14.8pp | N/A | -28.1%+5.4pp |
| Return on Assets | -9.4%+24.1pp | -7.6%+6.0pp | N/A | 24.8%+44.0pp | -33.6%-21.7pp | -13.6%-6.6pp | N/A | -19.2%-1.2pp |
| Current Ratio | 9.22+8.3x | 11.45+9.8x | 9.46+6.5x | 10.50+6.8x | 0.87-4.4x | 1.69-4.0x | 2.98-2.5x | 3.69+3.4x |
| Debt-to-Equity | 0.11-1.4x | 0.09-0.7x | 0.14-0.6x | 0.11-0.3x | 1.51+1.2x | 0.78+0.4x | 0.70+0.2x | 0.46-0.4x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| SAB Biotherapeutics, Inc. Warrant SABSW | FY2025 | $0 | $13.3M | N/A | N/A | — |
| Estrella Immunopharma, Inc. Warrant ESLAW | FY2025 | N/A | -$13.1M | N/A | N/A | — |
| Celularity Inc. Warrant CELUW | FY2025 | $26.6M | -$91.7M | N/A | N/A | 50/100 |
| Pasithea Therapeutics Corp. Warrants KTTAW | FY2025 | N/A | -$20.4M | N/A | N/A | — |
| Aspire-Lakewood Holdings, Inc. Warrant ASBPW | FY2025 | $6K | N/A | N/A | N/A | — |
Where SAB Biotherapeutics, Inc. Warrant Ranks
Frequently Asked Questions
What is SAB Biotherapeutics, Inc. Warrant's annual revenue?
SAB Biotherapeutics, Inc. Warrant (SABSW) 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. Warrant's revenue growing?
SAB Biotherapeutics, Inc. Warrant (SABSW) revenue declined by 100.0% year-over-year, from $1.3M to $0 in fiscal year 2025.
Is SAB Biotherapeutics, Inc. Warrant profitable?
Yes, SAB Biotherapeutics, Inc. Warrant (SABSW) reported a net income of $13.3M in fiscal year 2025.
What is SAB Biotherapeutics, Inc. Warrant's EBITDA?
SAB Biotherapeutics, Inc. Warrant (SABSW) had EBITDA of -$46.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is SAB Biotherapeutics, Inc. Warrant's return on equity (ROE)?
SAB Biotherapeutics, Inc. Warrant (SABSW) 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. Warrant's free cash flow?
SAB Biotherapeutics, Inc. Warrant (SABSW) recorded an outflow of $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. Warrant's operating cash flow?
SAB Biotherapeutics, Inc. Warrant (SABSW) recorded an outflow of $44.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are SAB Biotherapeutics, Inc. Warrant's total assets?
SAB Biotherapeutics, Inc. Warrant (SABSW) had $172.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are SAB Biotherapeutics, Inc. Warrant's capital expenditures?
SAB Biotherapeutics, Inc. Warrant (SABSW) invested $933K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does SAB Biotherapeutics, Inc. Warrant spend on research and development?
SAB Biotherapeutics, Inc. Warrant (SABSW) invested $34.4M in research and development during fiscal year 2025.
What is SAB Biotherapeutics, Inc. Warrant's current ratio?
SAB Biotherapeutics, Inc. Warrant (SABSW) had a current ratio of 9.46 as of fiscal year 2025, which is generally considered healthy.
What is SAB Biotherapeutics, Inc. Warrant's debt-to-equity ratio?
SAB Biotherapeutics, Inc. Warrant (SABSW) 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. Warrant's return on assets (ROA)?
SAB Biotherapeutics, Inc. Warrant (SABSW) had a return on assets of 7.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does SAB Biotherapeutics, Inc. Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, SAB Biotherapeutics, Inc. Warrant (SABSW) held $143.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $44.8M over that year. Dividing the one by the other, the reported balance equals about 38 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is SAB Biotherapeutics, Inc. Warrant's Piotroski F-Score?
SAB Biotherapeutics, Inc. Warrant (SABSW) 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. Warrant's earnings high quality?
For every $1 of reported earnings, SAB Biotherapeutics, Inc. Warrant (SABSW) used $3.37 of operating cash (-$44.8M OCF vs $13.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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. Warrant cover its interest payments?
SAB Biotherapeutics, Inc. Warrant (SABSW) reported an operating loss of $49.0M against $241K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.