What is Spruce Biosciences, Inc.'s earnings per share (EPS)?

Spruce Biosciences, Inc. (SPRB) reported diluted earnings per share of -$50.83 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.

Spruce Biosciences, Inc. (SPRB) Financials

SPRB

FY2025 annual

Revenue $0 -100.0% YoY

Net Income -$39.0M +26.5% YoY

EPS (Diluted) -$50.83 YoY not available

Operating Cash Flow -$33.3M +40.4% YoY

Market Cap $126.6M as of Oct 10, 2026

Price / Sales n/m revenue is not positive, FY2025

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 1.5x on $83.7M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 12, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SPRB SEC filings page.

Spruce Biosciences, Inc. (SPRB) 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 7 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 SPRB FY2025 2026-10-03

Spruce remains a development-stage business: lower losses and cash outflow in FY2025 were paired with funding-dependent balance-sheet support.

In FY2024, operating cash outflow of $56M was close to the $53M net loss. In FY2025, the gap widened: operating cash outflow fell to $33M against a $39M net loss, suggesting non-cash or working-capital effects softened cash usage rather than operations becoming self-funding.

R&D fell from $46M in FY2024 to $20M in FY2025, while the operating loss also narrowed. With revenue unavailable in the usable FY2025 record, that improvement is more clearly spending reduction than demonstrated operating leverage.

FY2025 financing cash flow of $43M exceeded operating cash outflow of $33M, so balance-sheet support came from financing rather than internally generated cash. Liabilities were $11M and debt-to-equity was 0.0x; the reported liquidity comparison equaled 17.6 months of annual outflow, a funding snapshot rather than evidence of self-financing operations.

Financial Health Signals

Financial health score not available

Spruce Biosciences, Inc. 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.

Altman Z-Score Distress

-1.73

Spruce Biosciences, Inc. scores -1.73, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($126.6M) relative to total liabilities ($10.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

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

Piotroski F-Score Partial

5/8

Spruce Biosciences, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Spruce Biosciences, Inc. reported a net loss of $39.0M while operations used $33.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Spruce Biosciences, Inc. reported an operating loss of $36.5M against $90K 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

Export CSV

Earnings & Revenue

EBITDA

-$15.9M

YoY-491.5%

QoQ-35.3%

Spruce Biosciences, Inc.'s EBITDA was -$15.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 491.5% from the same quarter a year earlier. Against the prior quarter it is down 35.3%.

Net Income

-$16.2M

YoY-685.1%

QoQ-32.3%

Spruce Biosciences, Inc. reported -$16.2M in net income in Q2 2026. This represents a decrease of 685.1% from the same quarter a year earlier. Against the prior quarter it is down 32.3%.

EPS (Diluted)

-$6.68

Spruce Biosciences, Inc. earned -$6.68 per diluted share (EPS) in Q2 2026.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$22.3M

YoY-152.1%

QoQ-154.6%

Spruce Biosciences, Inc. recorded an outflow of $22.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 152.1% from the same quarter a year earlier. Against the prior quarter it is down 154.6%.

Cash & Debt

$96.3M

YoY+487.6%

QoQ+78.1%

5Y CAGR+4.2%

Spruce Biosciences, Inc. held $96.3M in cash against $4.6M in long-term debt as of Q2 2026.

Shares Outstanding

5Y CAGR-34.2%

Spruce Biosciences, Inc. had 3M shares outstanding in Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-19.4%

YoY-3.7pp

QoQ+16.0pp

Spruce Biosciences, Inc.'s ROE was -19.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 16.0 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$12.2M

YoY+2728.6%

QoQ+60.6%

Spruce Biosciences, Inc. invested $12.2M in research and development in Q2 2026. This represents an increase of 2728.6% from the same quarter a year earlier. Against the prior quarter it is up 60.6%.

Capital Expenditures

$135K

QoQ+1250.0%

Spruce Biosciences, Inc. invested $135K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 1250.0%.

Share Buybacks

Not reported for Q2 2026.

SPRB 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.

SPRB quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Revenue	N/A	$0-100.0%	$4.9M-51.3%	$10.1M	$0	N/A	N/A	N/A
R&D Expenses	N/A	$19.5M-57.9%	$46.4M-6.1%	$49.4M+40.4%	$35.2M+14.7%	$30.7M+28.7%	$23.9M+120.5%	$10.8M
SG&A Expenses	N/A	$17.0M+16.0%	$14.6M+15.8%	$12.7M+4.7%	$12.1M+6.3%	$11.4M+104.4%	$5.6M+142.9%	$2.3M
Operating Income	N/A	-$36.5M+35.0%	-$56.2M-8.0%	-$52.0M-10.0%	-$47.3M-12.4%	-$42.1M-43.0%	-$29.4M-124.4%	-$13.1M
EBITDA	N/A	-$36.5M+35.0%	-$56.1M-8.1%	-$51.9M-10.0%	-$47.2M-12.4%	-$42.0M-42.9%	-$29.4M-124.4%	-$13.1M
Interest Expense	N/A	$90K-70.7%	$307K-36.4%	$483K+15.0%	$420K+21.7%	$345K+6.8%	$323K+396.9%	$65K
Income Tax	N/A	$0	$0	$0	$0	$0	$0	$0
Net Income	N/A	-$39.0M+26.5%	-$53.0M-10.7%	-$47.9M-3.8%	-$46.2M-9.2%	-$42.3M-43.2%	-$29.5M-125.7%	-$13.1M
EPS (Basic)	N/A	-$50.83+47.3%	-$96.40-7674.2%	-$1.24+36.7%	-$1.96-8.3%	-$1.81	N/A	N/A
EPS (Diluted)	—	-$50.83	-$96.40	-$1.24	-$1.96-8.3%	-$1.81	N/A	N/A
Diluted Shares (Avg)	N/A	766,598	550,146	39M	24M+0.7%	23M	N/A	N/A

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
Revenue	N/A	N/A	N/A	$0-100.0%	$0-100.0%	$0-100.0%	$697K-75.9%	$602K-80.4%
R&D Expenses	$12.2M+2728.6%	$7.6M-30.1%	N/A	$5.0M-23.5%	-$430K-94.7%	$10.8M+5.0%	$21.5M+93.3%	$6.6M-51.4%
SG&A Expenses	$4.3M+39.3%	$4.4M+20.7%	N/A	$3.2M-6.9%	$3.1M-12.2%	$3.7M-15.4%	$3.3M+12.3%	$3.5M+6.8%
Operating Income	-$16.5M-513.4%	-$12.0M+17.3%	N/A	-$8.2M+12.5%	-$2.7M+73.2%	-$14.5M-14.7%	-$24.1M-115.6%	-$9.4M+31.1%
EBITDA	-$15.9M-491.5%	-$11.7M+19.0%	N/A	-$8.2M+12.5%	-$2.7M+73.2%	-$14.5M-14.8%	-$24.1M-115.9%	-$9.4M+31.1%
Interest Expense	$1.1M+3682.8%	$674K+1772.2%	N/A	$19K-73.2%	$29K-65.1%	$36K-62.9%	$56K-47.2%	$71K-40.3%
Net Income	-$16.2M-685.1%	-$12.3M+12.6%	N/A	-$8.2M+5.3%	-$2.1M+77.5%	-$14.0M-20.8%	-$23.6M-136.8%	-$8.7M+29.8%
EPS (Basic)	-$6.68-90.9%	-$8.94+62.7%	-$9.58+77.6%	-$14.58+7.4%	-$3.50+79.1%	-$23.95-8453.6%	-$42.72-18473.9%	-$15.75-5150.0%
EPS (Diluted)	-$6.68	-$8.94	-$9.58	-$14.58	-$3.50	-$23.95	-$42.72	-$15.75
Diluted Shares (Avg)	2M	1M	N/A	563,066	591,137	586,142	N/A	550,645

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Income Tax.

SPRB Balance Sheet

SPRB quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Total Assets	$53.0M+17.3%	$45.2M-56.5%	$103.9M+21.4%	$85.6M-32.3%	$126.5M-22.3%	$162.9M+3371.5%	$4.7M
Current Assets	$52.1M+17.9%	$44.2M-56.7%	$102.2M+22.2%	$83.6M-9.0%	$91.9M-42.7%	$160.4M+3347.9%	$4.7M
Cash & Equivalents	$48.9M+26.2%	$38.8M-59.8%	$96.3M+293.4%	$24.5M-42.7%	$42.7M-72.8%	$157.2M+3904.8%	$3.9M
Short-Term Investments	$0	$0	$0-100.0%	$54.6M+18.1%	$46.2M	$0	$0
Accounts Receivable	N/A	N/A	N/A	$0	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0-100.0%	$32.5M	$0	$0
Total Liabilities	$10.5M-35.9%	$16.4M-40.3%	$27.4M+59.9%	$17.2M+13.5%	$15.1M+12.3%	$13.5M-61.9%	$35.3M
Current Liabilities	$10.1M-33.8%	$15.2M-37.7%	$24.5M+96.6%	$12.4M+40.3%	$8.9M-9.1%	$9.8M+126.9%	$4.3M
Non-Current Liabilities	$419K-63.3%	$1.1M-61.6%	$3.0M-37.0%	$4.7M-24.5%	$6.2M+69.1%	$3.7M-88.1%	$31.0M
Long-Term Debt	$0-100.0%	$124K-92.8%	$1.7M-47.9%	$3.3M-32.5%	$4.9M+153.8%	$1.9M-39.8%	$3.2M
Total Equity	$42.5M+47.5%	$28.8M-62.3%	$76.5M+11.7%	$68.5M-38.5%	$111.4M-25.5%	$149.4M+587.7%	-$30.6M
Retained Earnings	-$289.2M-15.6%	-$250.3M-26.9%	-$197.2M-32.1%	-$149.3M-44.8%	-$103.1M-69.5%	-$60.8M-94.4%	-$31.3M

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	$102.9M+371.4%	$56.2M+77.5%	$53.0M+17.3%	$15.3M-76.5%	$21.8M-71.1%	$31.6M-63.8%	$45.2M-56.5%	$65.1M-42.4%
Current Assets	$101.2M+382.8%	$55.0M+80.0%	$52.1M+17.9%	$14.5M-77.2%	$21.0M-71.7%	$30.6M-64.4%	$44.2M-56.7%	$63.6M-42.8%
Cash & Equivalents	$96.3M+487.6%	$54.1M+111.1%	$48.9M+26.2%	$10.7M-82.2%	$16.4M-76.5%	$25.6M-68.4%	$38.8M-59.8%	$60.1M-39.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$19.1M+121.3%	$21.5M+31.8%	$10.5M-35.9%	$9.9M-26.3%	$8.6M-47.2%	$16.3M-21.9%	$16.4M-40.3%	$13.5M-51.2%
Current Liabilities	$11.0M+36.0%	$11.8M-24.8%	$10.1M-33.8%	$9.4M-20.5%	$8.1M-43.6%	$15.7M-14.8%	$15.2M-37.7%	$11.9M-51.0%
Non-Current Liabilities	$8.2M+1306.7%	$9.7M+1377.1%	$419K-63.3%	$500K-68.9%	$580K-71.9%	$659K-73.9%	$1.1M-61.6%	$1.6M-53.0%
Long-Term Debt	$4.6M	$5.5M	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$124K-92.8%	$524K-75.2%
Total Equity	$83.7M+535.3%	$34.6M+126.1%	$42.5M+47.5%	$5.4M-89.6%	$13.2M-77.7%	$15.3M-77.0%	$28.8M-62.3%	$51.6M-39.5%
Retained Earnings	-$317.7M-19.3%	-$301.5M-14.1%	-$289.2M-15.6%	-$274.6M-21.1%	-$266.4M-22.2%	-$264.3M-26.6%	-$250.3M-26.9%	-$226.7M-21.1%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.

SPRB Cash Flow Statement

SPRB quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Operating Cash Flow	-$42.6M	-$33.3M+40.4%	-$56.0M-68.2%	-$33.3M+20.2%	-$41.7M-16.2%	-$35.9M-30.4%	-$27.5M-118.1%	-$12.6M
Depreciation & Amortization	N/A	$21K-54.3%	$46K-34.3%	$70K-5.4%	$74K+8.8%	$68K+88.9%	$36K+200.0%	$12K
Stock-Based Compensation	N/A	$2.6M-51.9%	$5.3M+15.7%	$4.6M+27.3%	$3.6M-8.3%	$4.0M+424.2%	$755K+285.2%	$196K
Capital Expenditures	N/A	N/A	$0-100.0%	$7K-12.5%	$8K-91.4%	$93K+25.7%	$74K+1750.0%	$4K
Free Cash Flow	N/A	N/A	-$56.0M-68.2%	-$33.3M+20.2%	-$41.7M-15.9%	-$36.0M-30.4%	-$27.6M-118.6%	-$12.6M
Investing Cash Flow	N/A	N/A	$0-100.0%	$55.8M+135.4%	$23.7M+129.9%	-$79.2M-106883.8%	-$74K-1750.0%	-$4K
Financing Cash Flow	$122.7M	$43.5M+2780.7%	-$1.6M-103.3%	$49.1M+20490.0%	-$241K-137.5%	$643K-99.6%	$181.0M+1356.1%	$12.4M

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	-$22.1M-150.6%	-$8.7M+31.4%	-$6.5M+68.8%	-$5.3M+42.4%	-$8.8M+20.5%	-$12.7M+14.9%	-$20.7M-84.5%	-$9.2M+24.8%
Depreciation & Amortization	$631K+8914.3%	$252K+4100.0%	$5K-44.4%	$3K-70.0%	$7K-41.7%	$6K-60.0%	$9K-43.8%	$10K-41.2%
Stock-Based Compensation	$871K+1231.2%	$689K+26.7%	N/A	$415K-63.6%	-$77K-104.6%	$544K-65.2%	N/A	$1.1M+1.6%
Capital Expenditures	$135K	$10K	N/A	N/A	$0	$0	$0	N/A
Free Cash Flow	-$22.3M-152.1%	-$8.7M+31.3%	N/A	N/A	-$8.8M	-$12.7M	-$20.7M-84.5%	N/A
Investing Cash Flow	-$135K	-$10K	N/A	N/A	$0	$0	$0-100.0%	$0-100.0%
Financing Cash Flow	$64.5M+16217.5%	$13.9M+3485.9%	$44.7M+7251.0%	-$402K+0.7%	-$400K-9.6%	-$411K-81.1%	-$625K-13.2%	-$405K0.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SPRB 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.

SPRB quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Operating Margin	N/A	-1143.4%	-515.3%	N/A	N/A	N/A	N/A
Net Margin	N/A	-1079.9%	-475.0%	N/A	N/A	N/A	N/A
Return on Equity	-91.6%+92.4pp	-184.0%-121.4pp	-62.6%+4.8pp	-67.4%-29.5pp	-38.0%-18.2pp	-19.8%	N/A
Return on Assets	-73.5%+43.8pp	-117.3%-71.2pp	-46.1%+7.8pp	-53.9%-20.5pp	-33.4%-15.3pp	-18.1%+260.8pp	-278.9%
Current Ratio	5.17+2.3x	2.90-1.3x	4.18-2.5x	6.72-3.6x	10.36-6.1x	16.43+15.3x	1.08
Debt-to-Equity	0.000.0x	0.000.0x	0.020.0x	0.050.0x	0.040.0x	0.01	N/A
Asset Turnover	0.00-0.1x	0.110.0x	0.10+0.1x	0.00	N/A	N/A	N/A
FCF Margin	N/A	-1139.6%	-329.9%	N/A	N/A	N/A	N/A

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 Margin	N/A	N/A	N/A	N/A	N/A	N/A	-3453.9%	-1562.8%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-3380.1%	-1440.4%
Return on Equity	-19.4%-3.7pp	-35.4%+56.2pp	N/A	-152.5%-135.7pp	-15.7%-0.2pp	-91.6%-74.2pp	-81.7%-68.7pp	-16.8%-2.3pp
Return on Assets	-15.8%-6.3pp	-21.8%+22.5pp	N/A	-53.6%-40.3pp	-9.5%+2.7pp	-44.4%-31.1pp	-52.1%-42.5pp	-13.3%-2.4pp
Current Ratio	9.23+6.6x	4.67+2.7x	5.17+2.3x	1.54-3.8x	2.60-2.6x	1.95-2.7x	2.90-1.3x	5.36+0.8x
Debt-to-Equity	0.05+0.1x	0.16+0.2x	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.010.0x
Asset Turnover	N/A	N/A	N/A	0.000.0x	0.000.0x	0.000.0x	0.020.0x	0.010.0x
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-2966.6%	N/A

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.

Where Spruce Biosciences, Inc. Ranks

Frequently Asked Questions

What is Spruce Biosciences, Inc.'s annual revenue?

Spruce Biosciences, Inc. (SPRB) 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 Spruce Biosciences, Inc.'s revenue growing?

Spruce Biosciences, Inc. (SPRB) revenue declined by 100.0% year-over-year, from $4.9M to $0 in fiscal year 2025.

Is Spruce Biosciences, Inc. profitable?

No, Spruce Biosciences, Inc. (SPRB) reported a net income of -$39.0M in fiscal year 2025.

What is Spruce Biosciences, Inc.'s EBITDA?

Spruce Biosciences, Inc. (SPRB) had EBITDA of -$36.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Spruce Biosciences, Inc. have?

As of fiscal year 2025, Spruce Biosciences, Inc. (SPRB) had $48.9M in cash and equivalents against $0 in long-term debt.

What is Spruce Biosciences, Inc.'s return on equity (ROE)?

Spruce Biosciences, Inc. (SPRB) has a return on equity of -91.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Spruce Biosciences, Inc.'s operating cash flow?

Spruce Biosciences, Inc. (SPRB) recorded an outflow of $33.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Spruce Biosciences, Inc.'s total assets?

Spruce Biosciences, Inc. (SPRB) had $53.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Spruce Biosciences, Inc. spend on research and development?

Spruce Biosciences, Inc. (SPRB) invested $19.5M in research and development during fiscal year 2025.

How many shares does Spruce Biosciences, Inc. have outstanding?

Spruce Biosciences, Inc. (SPRB) had 1M shares outstanding as of fiscal year 2025.

What is Spruce Biosciences, Inc.'s current ratio?

Spruce Biosciences, Inc. (SPRB) had a current ratio of 5.17 as of fiscal year 2025, which is generally considered healthy.

What is Spruce Biosciences, Inc.'s debt-to-equity ratio?

Spruce Biosciences, Inc. (SPRB) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Spruce Biosciences, Inc.'s return on assets (ROA)?

Spruce Biosciences, Inc. (SPRB) had a return on assets of -73.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Spruce Biosciences, Inc.'s P/E ratio?

Spruce Biosciences, Inc. (SPRB) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $126.6M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Spruce Biosciences, Inc.'s price-to-sales ratio?

Spruce Biosciences, Inc. (SPRB) has no price-to-sales ratio at the moment: revenue is not positive (FY2025). The market capitalization is $126.6M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Spruce Biosciences, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Spruce Biosciences, Inc. (SPRB) held $48.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $33.3M over that year. Dividing the one by the other, the reported balance equals about 18 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 Spruce Biosciences, Inc.'s Altman Z-Score?

Spruce Biosciences, Inc. (SPRB) has an Altman Z-Score of -1.73, placing it in the Distress Zone (elevated 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 Spruce Biosciences, Inc.'s Piotroski F-Score?

Spruce Biosciences, Inc. (SPRB) has a Piotroski F-Score of 5 out of 8 computable signals; 1 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 Spruce Biosciences, Inc.'s earnings high quality?

Spruce Biosciences, Inc. (SPRB) reported a net loss of $39.0M while operations used $33.3M of cash. With neither figure positive, 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.

Can Spruce Biosciences, Inc. cover its interest payments?

Spruce Biosciences, Inc. (SPRB) reported an operating loss of $36.5M against $90K 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.