Spero Therapeuti Financials
Spero Therapeuti (SPRO) reported $66.8M in revenue for fiscal year 2025, up 39.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Reported profitability looks episodic because cash burn persists, while a much lighter liability base now carries the balance sheet.
The non-obvious pattern is that both profitable years still had negative operating cash flow of-$33.0M and-$12.6M , so accounting income has not yet become a self-funding operating model. Liquidity nevertheless improved because total liabilities fell from$64.4M to$9.9M , meaning the balance sheet got cleaner even before cash generation did.
FY2025's move to a
The balance-sheet posture is far cleaner than a year earlier, with total liabilities down from
Financial Health Signals
Scored against emerging 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 Spero Therapeuti'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.
Spero Therapeuti scores -2.60, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($70.5M) relative to total liabilities ($9.9M). 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.
Spero Therapeuti passes 4 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, both operating efficiency signals pass.
For every $1 of reported earnings, Spero Therapeuti used $1.47 of operating cash (-$12.6M OCF vs $8.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Spero Therapeuti generated $66.8M in revenue in fiscal year 2025. This represents an increase of 39.2% from the prior year.
Spero Therapeuti's EBITDA was $6.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 108.6% from the prior year.
Spero Therapeuti reported $8.6M in net income in fiscal year 2025. This represents an increase of 112.5% from the prior year.
Spero Therapeuti earned $0.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 111.8% from the prior year.
Cash & Balance Sheet
Spero Therapeuti held $40.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Spero Therapeuti's operating margin was 9.4% in fiscal year 2025, reflecting core business profitability. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Spero Therapeuti's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Spero Therapeuti's ROE was 14.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 163.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Spero Therapeuti invested $38.5M in research and development in fiscal year 2025. This represents a decrease of 60.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
SPRO 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 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.0M | $66.8M+39.2% | $48.0M-53.8% | $103.8M+94.0% | $53.5M+193.1% | $18.3M+95.7% | $9.3M-48.6% | $18.1M+357.6% | $4.0M+100.4% | $2.0M+490.7% | $335K | N/A |
| R&D Expenses | $20.5M | $38.5M-60.2% | $96.8M+88.1% | $51.4M+8.1% | $47.6M-26.2% | $64.5M-3.7% | $67.0M+1.9% | $65.8M+94.1% | $33.9M+3.1% | $32.9M+24.8% | $26.3M+136.7% | $11.1M |
| SG&A Expenses | $19.9M | $21.2M-10.7% | $23.7M-7.2% | $25.6M-30.0% | $36.5M-12.5% | $41.7M+94.5% | $21.4M+37.5% | $15.6M+21.0% | $12.9M+18.9% | $10.8M+50.1% | $7.2M+228.0% | $2.2M |
| Operating Income | $6.0M | $6.3M+108.6% | -$73.4M-441.5% | $21.5M+150.9% | -$42.2M+52.0% | -$88.0M-11.2% | -$79.1M-25.1% | -$63.2M-47.7% | -$42.8M-2.6% | -$41.7M-25.6% | -$33.2M-149.3% | -$13.3M |
| Income Tax | N/A | $261K | $0-100.0% | $2.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $7.4M | $8.6M+112.5% | -$68.6M-400.6% | $22.8M+149.1% | -$46.4M+48.3% | -$89.8M-14.7% | -$78.3M-28.6% | -$60.9M-46.0% | -$41.7M-7.6% | -$38.7M-52.0% | -$25.5M-149.9% | -$10.2M |
| EPS (Diluted) | — | $0.15+111.8% | -$1.27-395.3% | $0.43+135.0% | -$1.23+57.7% | -$2.91 | N/A | N/A | N/A | N/A | N/A | N/A |
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.
SPRO 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 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $68.9M-37.7% | $110.5M-39.4% | $182.4M+46.1% | $124.8M-27.0% | $171.1M+11.5% | $153.5M+44.6% | $106.1M-17.8% | $129.0M+38.0% | $93.5M+578.8% | $13.8M | N/A |
| Current Assets | $67.3M-37.3% | $107.3M-18.2% | $131.2M+15.5% | $113.6M-28.1% | $157.9M+13.5% | $139.1M+45.8% | $95.4M-23.2% | $124.2M+34.9% | $92.1M+675.4% | $11.9M | N/A |
| Cash & Equivalents | $40.3M-23.9% | $52.9M-30.7% | $76.3M-30.0% | $109.1M-3.1% | $112.6M+32.1% | $85.2M+186.6% | $29.7M-12.8% | $34.1M-61.0% | $87.3M+746.2% | $10.3M+81.3% | $5.7M |
| Total Liabilities | $9.9M-84.6% | $64.4M-14.7% | $75.5M+54.5% | $48.9M-41.0% | $82.8M+286.6% | $21.4M-32.1% | $31.5M+139.7% | $13.2M+54.3% | $8.5M-85.6% | $59.2M | N/A |
| Current Liabilities | $8.9M-81.9% | $49.1M+32.1% | $37.2M+71.6% | $21.6M+16.0% | $18.7M+30.2% | $14.3M-46.2% | $26.7M+116.5% | $12.3M+51.0% | $8.2M+17.9% | $6.9M | N/A |
| Total Equity | $59.0M+28.0% | $46.1M-56.9% | $106.9M+40.8% | $75.9M-14.0% | $88.3M-33.1% | $132.0M+77.1% | $74.6M-35.4% | $115.5M+36.5% | $84.6M+286.2% | -$45.4M-144.9% | -$18.6M |
| Retained Earnings | -$451.1M+1.9% | -$459.6M-17.5% | -$391.1M+5.5% | -$413.9M-12.6% | -$367.5M-32.3% | -$277.7M-39.3% | -$199.4M-44.0% | -$138.5M-43.0% | -$96.8M-113.1% | -$45.4M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
SPRO 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 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $19.6M | -$12.6M+46.2% | -$23.4M+28.9% | -$33.0M-326.8% | -$7.7M+88.0% | -$64.3M+25.1% | -$85.9M-71.7% | -$50.0M-26.2% | -$39.6M-1.3% | -$39.1M-35.1% | -$29.0M-201.4% | -$9.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $157K-50.0% | $314K-87.1% | $2.4M+8922.2% | $27K-96.7% | $830K+257.8% | $232K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$86.0M-70.9% | -$50.3M-19.7% | -$42.1M-7.5% | -$39.1M-31.4% | -$29.8M-202.7% | -$9.8M |
| Investing Cash Flow | N/A | N/A | N/A | $0-100.0% | $33.8M+340.7% | $7.7M-26.7% | $10.5M-64.5% | $29.5M+135.5% | -$83.2M-307885.2% | -$27K+96.7% | -$830K | N/A |
| Financing Cash Flow | N/A | N/A | $0-100.0% | $221K+100.7% | -$29.6M-135.2% | $84.0M-35.8% | $130.9M+710.9% | $16.1M-76.8% | $69.5M-40.1% | $116.1M+237.4% | $34.4M | N/A |
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.
SPRO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.4% | -152.9% | 20.7%+99.6pp | -78.9% | -481.9% | -847.9% | -348.4% | -1079.3% | -2108.6% | -9916.7% | N/A |
| Net Margin | 12.8% | -142.9% | 22.0%+108.7pp | -86.7% | -491.9% | -839.2% | -335.6% | -1051.4% | -1957.7% | -7609.3% | N/A |
| Return on Equity | 14.5%+163.2pp | -148.7%-170.0pp | 21.3%+82.5pp | -61.1%+40.6pp | -101.7%-42.4pp | -59.3%+22.4pp | -81.7%-45.6pp | -36.1%+9.7pp | -45.8% | N/A | N/A |
| Return on Assets | 12.4%+74.5pp | -62.0%-74.5pp | 12.5%+49.7pp | -37.2%+15.3pp | -52.5%-1.5pp | -51.0%+6.4pp | -57.4%-25.1pp | -32.3%+9.1pp | -41.4%+143.6pp | -185.1% | N/A |
| Current Ratio | 7.59+5.4x | 2.19-1.3x | 3.53-1.7x | 5.25-3.2x | 8.46-1.2x | 9.70+6.1x | 3.58-6.5x | 10.08-1.2x | 11.29+9.6x | 1.72 | N/A |
| Debt-to-Equity | 0.17-1.2x | 1.40+0.7x | 0.71+0.1x | 0.64-0.3x | 0.94+0.8x | 0.16-0.3x | 0.42+0.3x | 0.110.0x | 0.10 | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -922.1% | -277.4% | -1060.5% | -1977.7% | -8892.2% | 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.
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Where Spero Therapeuti Ranks
Frequently Asked Questions
What is Spero Therapeuti's annual revenue?
Spero Therapeuti (SPRO) reported $66.8M in total revenue for fiscal year 2025. This represents a 39.2% 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 Spero Therapeuti's revenue growing?
Spero Therapeuti (SPRO) revenue grew by 39.2% year-over-year, from $48.0M to $66.8M in fiscal year 2025.
Is Spero Therapeuti profitable?
Yes, Spero Therapeuti (SPRO) reported a net income of $8.6M in fiscal year 2025, with a net profit margin of 12.8%.
What is Spero Therapeuti's EBITDA?
Spero Therapeuti (SPRO) had EBITDA of $6.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Spero Therapeuti's operating margin?
Spero Therapeuti (SPRO) had an operating margin of 9.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Spero Therapeuti's net profit margin?
Spero Therapeuti (SPRO) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Spero Therapeuti's return on equity (ROE)?
Spero Therapeuti (SPRO) has a return on equity of 14.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Spero Therapeuti's operating cash flow?
Spero Therapeuti (SPRO) recorded an outflow of $12.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Spero Therapeuti's total assets?
Spero Therapeuti (SPRO) had $68.9M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Spero Therapeuti spend on research and development?
Spero Therapeuti (SPRO) invested $38.5M in research and development during fiscal year 2025.
What is Spero Therapeuti's current ratio?
Spero Therapeuti (SPRO) had a current ratio of 7.59 as of fiscal year 2025, which is generally considered healthy.
What is Spero Therapeuti's debt-to-equity ratio?
Spero Therapeuti (SPRO) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Spero Therapeuti's return on assets (ROA)?
Spero Therapeuti (SPRO) had a return on assets of 12.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Spero Therapeuti's cash runway?
Based on fiscal year 2025 data, Spero Therapeuti (SPRO) had $40.3M in cash against an annual operating cash burn of $12.6M. This gives an estimated cash runway of approximately 38 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 Spero Therapeuti's Altman Z-Score?
Spero Therapeuti (SPRO) has an Altman Z-Score of -2.60, 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 Spero Therapeuti's Piotroski F-Score?
Spero Therapeuti (SPRO) 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 Spero Therapeuti's earnings high quality?
For every $1 of reported earnings, Spero Therapeuti (SPRO) used $1.47 of operating cash (-$12.6M OCF vs $8.6M 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.
How financially healthy is Spero Therapeuti?
Spero Therapeuti (SPRO) scores 67 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.