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SpyGlass Pharma, Inc. Financials

SGP
Source SEC Filings (10-K/10-Q) Updated Mar 26, 2026 Currency USD FYE March

This page shows SpyGlass Pharma, Inc. (SGP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Low Quality
0.82x

For every $1 of reported earnings, SpyGlass Pharma, Inc. generates $0.82 in operating cash flow (-$32.7M OCF vs -$39.9M 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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Earnings & Revenue

Revenue
N/A
EBITDA
-$40.8M

SpyGlass Pharma, Inc.'s EBITDA was -$40.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Net Income
-$39.9M

SpyGlass Pharma, Inc. reported -$39.9M in net income in fiscal year 2025.

EPS (Diluted)
$-17.98

SpyGlass Pharma, Inc. earned $-17.98 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$33.5M

SpyGlass Pharma, Inc. generated -$33.5M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt
$96.4M

SpyGlass Pharma, Inc. held $96.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
33M

SpyGlass Pharma, Inc. had 33M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

R&D Spending
$29.2M

SpyGlass Pharma, Inc. invested $29.2M in research and development in fiscal year 2025.

Share Buybacks
$1.4M

SpyGlass Pharma, Inc. spent $1.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$789K

SpyGlass Pharma, Inc. invested $789K in capex in fiscal year 2025, funding long-term assets and infrastructure.

SGP Income Statement

SGP Balance Sheet

SGP Cash Flow Statement

SGP Financial Ratios

Note: Shareholder equity is negative (-$98.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Frequently Asked Questions

No, SpyGlass Pharma, Inc. (SGP) reported a net income of -$39.9M in fiscal year 2025.

SpyGlass Pharma, Inc. (SGP) reported diluted earnings per share of $-17.98 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.

SpyGlass Pharma, Inc. (SGP) had EBITDA of -$40.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

SpyGlass Pharma, Inc. (SGP) generated -$33.5M in free cash flow during fiscal year 2025. 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.

SpyGlass Pharma, Inc. (SGP) generated -$32.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

SpyGlass Pharma, Inc. (SGP) had $115.9M in total assets as of fiscal year 2025, including both current and long-term assets.

SpyGlass Pharma, Inc. (SGP) invested $789K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

SpyGlass Pharma, Inc. (SGP) invested $29.2M in research and development during fiscal year 2025.

Yes, SpyGlass Pharma, Inc. (SGP) spent $1.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

SpyGlass Pharma, Inc. (SGP) had 33M shares outstanding as of fiscal year 2025.

SpyGlass Pharma, Inc. (SGP) had a current ratio of 12.67 as of fiscal year 2025, which is generally considered healthy.

SpyGlass Pharma, Inc. (SGP) had a debt-to-equity ratio of -2.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

SpyGlass Pharma, Inc. (SGP) had a return on assets of -34.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, SpyGlass Pharma, Inc. (SGP) had $96.4M in cash against an annual operating cash burn of $32.7M. This gives an estimated cash runway of approximately 35 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.

SpyGlass Pharma, Inc. (SGP) has negative shareholder equity of -$98.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

SpyGlass Pharma, Inc. (SGP) has an earnings quality ratio of 0.82x, 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.

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