Septerna, Inc. Financials
Septerna, Inc. (SEPN) reported $46.0M in revenue for fiscal year 2025, up 4174.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Septerna’s statements still describe a cash-funded R&D business whose economics are driven more by capital allocation than steady commercialization.
FY2025’s positive operating cash flow of$110.2M looks less like earnings power when set beside a still-large operating loss of-$68.3M . Because R&D still ran at$97.6M on only$46.0M of revenue, the business still reads as externally capitalized rather than self-funding, even though the headline cash flow line briefly turned positive.
The real turning point was a balance-sheet recapitalization in FY2024: financing brought in
Even with revenue scaling up, spending remains research-led; FY2025 R&D of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Septerna, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Septerna, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 11/100.
Septerna, Inc.'s revenue surged 4174.5% year-over-year to $46.0M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Septerna, Inc. has a moderate D/E ratio of 0.56. This balance of debt and equity financing earns a leverage score of 57/100.
With a current ratio of 4.73, Septerna, Inc. holds $4.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
Septerna, Inc.'s reported free cash flow margin for fiscal year 2025 is above the highest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Septerna, Inc. posts a -12.8% return on equity (ROE), meaning it loses $13 for every $100 of shareholders' equity. This results in a returns score of 39/100. This is up from -17.1% the prior year.
Septerna, Inc. scores 5.36, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($214.3M). 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.
Septerna, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Septerna, Inc. reported a net loss of $48.9M while generating $110.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Septerna, Inc. generated $46.0M in revenue in fiscal year 2025. This represents an increase of 4174.5% from the prior year.
Septerna, Inc.'s EBITDA was -$66.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 16.0% from the prior year.
Septerna, Inc. reported -$48.9M in net income in fiscal year 2025. This represents an increase of 31.9% from the prior year.
Cash & Balance Sheet
Septerna, Inc. generated $109.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 257.6% from the prior year.
Septerna, Inc. held $120.7M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Septerna, Inc.'s ROE was -12.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Septerna, Inc. invested $97.6M in research and development in fiscal year 2025. This represents an increase of 49.4% from the prior year.
Septerna, Inc. invested $518K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 75.4% from the prior year.
Not reported for fiscal year 2025.
SEPN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Revenue | $98.9M | $46.0M+4174.5% | $1.1M+611.9% | $151K |
| R&D Expenses | $120.8M | $97.6M+49.4% | $65.3M+81.6% | $36.0M |
| SG&A Expenses | $34.1M | $29.2M+76.1% | $16.6M+70.3% | $9.7M |
| Operating Income | -$43.5M | -$68.3M+15.5% | -$80.8M-3995.1% | $2.1M |
| Income Tax | $1.3M | $12K+102.4% | -$498K-172.1% | $691K |
| Net Income | -$24.2M | -$48.9M+31.9% | -$71.8M-1817.7% | $4.2M |
| EPS (Diluted) | — | -$1.10 | -$7.26-2603.4% | $0.29 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SEPN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Assets | $596.2M+30.6% | $456.6M+248.9% | $130.9M |
| Current Assets | $411.0M+15.2% | $356.8M+216.7% | $112.7M |
| Cash & Equivalents | $120.7M-49.3% | $238.2M+169.2% | $88.5M |
| Accounts Receivable | $10.4M+5956.1% | $171K+13.2% | $151K |
| Total Liabilities | $214.3M+486.9% | $36.5M-78.4% | $169.2M |
| Current Liabilities | $86.9M+576.6% | $12.8M+85.8% | $6.9M |
| Total Equity | $381.9M-9.1% | $420.0M+1194.6% | -$38.4M |
| Retained Earnings | -$167.3M-41.3% | -$118.4M-154.2% | -$46.6M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
SEPN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Operating Cash Flow | $106.0M | $110.2M+263.3% | -$67.5M-74.2% | -$38.7M |
| Capital Expenditures | $910K | $518K-75.4% | $2.1M-26.9% | $2.9M |
| Free Cash Flow | $105.1M | $109.7M+257.6% | -$69.6M-67.2% | -$41.6M |
| Investing Cash Flow | -$229.1M | -$229.4M-42.8% | -$160.6M-826.0% | $22.1M |
| Financing Cash Flow | $18.4M | $1.7M-99.6% | $377.8M+407.0% | $74.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SEPN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Operating Margin | -148.6% | -7518.4% | 1374.2% |
| Net Margin | -106.4% | -6678.9% | 2768.2% |
| Return on Equity | -12.8%+4.3pp | -17.1% | N/A |
| Return on Assets | -8.2%+7.5pp | -15.7%-18.9pp | 3.2% |
| Current Ratio | 4.73-23.0x | 27.77+11.5x | 16.30 |
| Debt-to-Equity | 0.56+0.5x | 0.09 | N/A |
| FCF Margin | 238.7% | -6471.9% | -27550.3% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Septerna, Inc. Ranks
Frequently Asked Questions
What is Septerna, Inc.'s annual revenue?
Septerna, Inc. (SEPN) reported $46.0M in total revenue for fiscal year 2025. This represents a 4174.5% 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 Septerna, Inc.'s revenue growing?
Septerna, Inc. (SEPN) revenue grew by 4174.5% year-over-year, from $1.1M to $46.0M in fiscal year 2025.
Is Septerna, Inc. profitable?
No, Septerna, Inc. (SEPN) reported a net income of -$48.9M in fiscal year 2025.
What is Septerna, Inc.'s EBITDA?
Septerna, Inc. (SEPN) had EBITDA of -$66.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Septerna, Inc.'s return on equity (ROE)?
Septerna, Inc. (SEPN) has a return on equity of -12.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Septerna, Inc.'s free cash flow?
Septerna, Inc. (SEPN) generated $109.7M in free cash flow during fiscal year 2025. This represents a 257.6% 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 Septerna, Inc.'s operating cash flow?
Septerna, Inc. (SEPN) generated $110.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Septerna, Inc.'s total assets?
Septerna, Inc. (SEPN) had $596.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Septerna, Inc.'s capital expenditures?
Septerna, Inc. (SEPN) invested $518K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Septerna, Inc. spend on research and development?
Septerna, Inc. (SEPN) invested $97.6M in research and development during fiscal year 2025.
What is Septerna, Inc.'s current ratio?
Septerna, Inc. (SEPN) had a current ratio of 4.73 as of fiscal year 2025, which is generally considered healthy.
What is Septerna, Inc.'s debt-to-equity ratio?
Septerna, Inc. (SEPN) had a debt-to-equity ratio of 0.56 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Septerna, Inc.'s return on assets (ROA)?
Septerna, Inc. (SEPN) had a return on assets of -8.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Septerna, Inc.'s Altman Z-Score?
Septerna, Inc. (SEPN) has an Altman Z-Score of 5.36, 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 Septerna, Inc.'s Piotroski F-Score?
Septerna, Inc. (SEPN) has a Piotroski F-Score of 4 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 Septerna, Inc.'s earnings high quality?
Septerna, Inc. (SEPN) reported a net loss of $48.9M while generating $110.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
How financially healthy is Septerna, Inc.?
Septerna, Inc. (SEPN) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.