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Spruce Biosciences (SPRB) Financials

Spruce Biosciences logo
$50.07 -1.67 (-3.23%)
Closing price 07/10/2026 04:00 PM Eastern
Extended Trading
$51.95 +1.88 (+3.75%)
As of 07/10/2026 07:16 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Spruce Biosciences

Annual Income Statements for Spruce Biosciences

This table shows Spruce Biosciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -13 -30 -42 -46 -48 -53 -39
Consolidated Net Income / (Loss)		 -13 -30 -42 -46 -48 -53 -39
Net Income / (Loss) Continuing Operations		 -13 -30 -42 -46 -48 -53 -39
Total Pre-Tax Income 		-13 -30 -42 -46 -48 -53 -39
Total Operating Income		 -13 -29 -42 -47 -52 -56 -37
Total Gross Profit		 0.00 0.00 0.00 0.00 10 4.91 0.00
Total Revenue		 0.00 0.00 0.00 0.00 10 4.91 0.00
Operating Revenue		 - - - 0.00 - - 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 13 29 42 47 62 61 37
Selling, General & Admin Expense		 2.29 5.56 11 12 13 15 17
Research & Development Expense		 11 24 31 35 49 46 20
Total Other Income / (Expense), net		 0.02 -0.12 -0.23 1.10 4.07 3.12 -2.45
Interest Expense		 0.07 0.32 0.35 0.42 0.48 0.31 0.09
Interest & Investment Income		 - - 0.12 1.52 4.56 3.42 1.14
Other Income / (Expense), net		 0.08 0.20 - - - - -3.50
Basic Earnings per Share		 ($17.12) ($4.93) ($1.81) ($1.96) ($1.24) ($96.40) ($50.83)
Weighted Average Basic Shares Outstanding		 764.41K 5.99M 23.36M 23.53M 38.51M 550.15K 766.60K
Diluted Earnings per Share		 ($17.12) ($4.93) ($1.81) ($1.96) ($1.24) ($96.40) ($50.83)
Weighted Average Diluted Shares Outstanding		 764.41K 5.99M 23.36M 23.53M 38.51M 550.15K 766.60K
Weighted Average Basic & Diluted Shares Outstanding		 764.41K 5.99M 23.36M 39.75M 41.15M - 1.37M

Quarterly Income Statements for Spruce Biosciences

This table shows Spruce Biosciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -12 -10 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Consolidated Net Income / (Loss)		 -12 -9.95 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Net Income / (Loss) Continuing Operations		 -12 -9.95 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Total Pre-Tax Income 		-12 -9.95 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Total Operating Income		 -14 -11 -13 -10 -9.41 -24 -14 -2.69 -8.23 -11 -12
Total Gross Profit		 3.07 2.89 2.00 1.61 0.60 0.70 0.00 0.00 0.00 - 0.00
Total Revenue		 3.07 2.89 2.00 1.61 0.60 0.70 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 17 14 15 12 10 25 14 2.69 8.23 11 12
Selling, General & Admin Expense		 3.24 2.95 4.32 3.56 3.46 3.31 3.66 3.12 3.22 7.00 4.41
Research & Development Expense		 13 11 10 8.09 6.55 21 11 -0.43 5.01 4.10 7.58
Total Other Income / (Expense), net		 1.30 1.21 1.01 0.86 0.74 0.52 0.45 0.63 0.02 -3.55 -0.28
Interest Expense		 0.12 0.11 0.10 0.08 0.07 0.06 0.04 0.03 0.02 0.01 0.67
Interest & Investment Income		 - - 1.11 0.94 0.81 0.57 0.33 0.65 0.04 -0.04 0.49
Other Income / (Expense), net		 1.42 - - - - - 0.16 - - - -0.09
Basic Earnings per Share		 ($0.30) ($0.22) ($0.28) ($16.73) ($15.75) ($42.82) ($23.95) ($3.50) ($14.58) ($19.11) ($8.94)
Weighted Average Basic Shares Outstanding		 40.71M 38.51M 41.10M 548.79K 550.65K 550.15K 586.14K 591.14K 563.07K 766.60K 1.37M
Diluted Earnings per Share		 ($0.30) ($0.22) ($0.28) ($16.73) ($15.75) ($42.82) ($23.95) ($3.50) ($14.58) ($19.11) ($8.94)
Weighted Average Diluted Shares Outstanding		 40.71M 38.51M 41.10M 548.79K 550.65K 550.15K 586.14K 591.14K 563.07K 766.60K 1.37M
Weighted Average Basic & Diluted Shares Outstanding		 40.71M 41.15M 41.15M 41.30M 41.30M 0.00 42.23M 563.04K 1.07M 1.37M 2.75M

Annual Cash Flow Statements for Spruce Biosciences

This table details how cash moves in and out of Spruce Biosciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.19 153 -114 -18 72 -58 10
Net Cash From Operating Activities		 -13 -28 -36 -42 -33 -56 -33
Net Cash From Continuing Operating Activities		 -13 -28 -36 -42 -33 -56 -33
Net Income / (Loss) Continuing Operations		 -13 -30 -42 -46 -48 -53 -39
Consolidated Net Income / (Loss)		 -13 -30 -42 -46 -48 -53 -39
Depreciation Expense		 0.01 0.04 0.07 0.07 0.07 0.05 0.02
Amortization Expense		 - - 0.12 0.02 -0.64 0.00 0.00
Non-Cash Adjustments To Reconcile Net Income		 0.20 0.82 4.27 3.28 4.85 5.60 6.34
Changes in Operating Assets and Liabilities, net		 0.26 1.16 1.96 1.13 10 -8.57 -0.72
Net Cash From Investing Activities		 -0.00 -0.07 -79 24 56 0.00 0.00
Net Cash From Continuing Investing Activities		 -0.00 -0.07 -79 24 56 0.00 0.00
Purchase of Property, Plant & Equipment		 -0.00 -0.07 -0.09 -0.01 -0.01 0.00 0.00
Purchase of Investments		 - 0.00 -79 -37 -12 0.00 0.00
Sale and/or Maturity of Investments		 - - 0.00 61 68 0.00 0.00
Net Cash From Financing Activities		 12 181 0.64 -0.24 49 -1.62 43
Net Cash From Continuing Financing Activities		 12 181 0.64 -0.24 49 -1.62 43
Repayment of Debt		 - 0.00 -4.77 0.00 -1.62 -1.62 -2.06
Repurchase of Common Equity		 - - - -0.28 -2.72 0.00 -3.70
Issuance of Common Equity		 0.00 93 0.13 0.08 54 0.07 50
Other Financing Activities, net		 0.00 0.05 0.29 -0.04 -0.30 -0.07 -0.79
Cash Interest Paid		 0.02 0.19 0.21 0.27 0.37 0.23 0.07

Quarterly Cash Flow Statements for Spruce Biosciences

This table details how cash moves in and out of Spruce Biosciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1.32 -2.46 -15 -11 -9.63 -21 -13 -9.23 -5.72 38 5.17
Net Cash From Operating Activities		 -12 -11 -15 -11 -9.22 -21 -13 -8.83 -5.32 -6.46 -8.73
Net Cash From Continuing Operating Activities		 -12 -11 -15 -11 -9.23 -21 -13 -8.83 -5.32 -6.46 -8.73
Net Income / (Loss) Continuing Operations		 -12 -9.95 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Consolidated Net Income / (Loss)		 -12 -9.95 -12 -9.18 -8.67 -24 -14 -2.07 -8.21 -15 -12
Depreciation Expense		 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.00 0.01 0.25
Non-Cash Adjustments To Reconcile Net Income		 1.18 1.28 1.62 1.75 1.20 1.03 0.45 -0.47 0.59 5.78 0.85
Changes in Operating Assets and Liabilities, net		 -0.97 -2.49 -4.97 -3.69 -1.76 1.85 0.86 -6.30 2.31 2.41 2.43
Net Cash From Investing Activities		 14 9.30 0.00 - - - 0.00 - - - -0.01
Net Cash From Continuing Investing Activities		 14 9.30 0.00 - - - 0.00 - - - -0.01
Purchase of Property, Plant & Equipment		 - - - - - - 0.00 - - - -0.01
Net Cash From Financing Activities		 -0.41 -0.55 -0.23 -0.37 -0.41 -0.63 -0.41 -0.40 -0.40 45 14
Net Cash From Continuing Financing Activities		 -0.41 -0.55 -0.23 -0.37 -0.41 -0.63 -0.41 -0.40 -0.40 45 14
Repayment of Debt		 -0.41 -0.41 -0.41 -0.41 -0.41 -0.41 -0.41 -0.41 -0.41 -0.84 0.00
Repurchase of Common Equity		 - - 0.00 - - - -0.01 0.01 - -3.70 -0.22
Issuance of Debt		 - - - - - - 0.00 - - - 14
Other Financing Activities, net		 - -0.22 0.18 -0.01 - -0.23 0.00 - - -0.79 -0.01
Cash Interest Paid		 - - - - - - 0.03 - - - 0.16

Annual Balance Sheets for Spruce Biosciences

This table presents Spruce Biosciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 4.69 163 126 86 104 45 53
Total Current Assets		 4.65 160 92 84 102 44 52
Cash & Equivalents		 3.92 157 43 24 96 39 49
Prepaid Expenses		 0.22 2.97 2.53 3.32 3.88 3.18 0.35
Other Current Assets		 0.51 0.28 0.40 1.21 1.97 2.28 2.85
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 0.04 2.49 35 2.04 1.76 1.00 0.91
Other Noncurrent Operating Assets		 0.04 2.49 2.13 2.04 1.76 1.00 0.91
Total Liabilities & Shareholders' Equity		 4.69 163 126 86 104 45 53
Total Liabilities		 7.52 13 15 17 27 16 11
Total Current Liabilities		 4.30 9.76 8.87 12 24 15 10
Short-Term Debt		 1.25 2.55 0.00 1.62 1.62 1.62 0.00
Accounts Payable		 1.88 3.63 2.82 1.43 3.33 1.30 0.94
Accrued Expenses		 0.27 2.50 6.05 9.40 15 12 9.14
Total Noncurrent Liabilities		 3.21 3.69 6.24 4.72 2.97 1.14 0.42
Long-Term Debt		 3.19 1.92 4.88 3.29 1.72 0.12 0.00
Other Noncurrent Operating Liabilities		 0.02 1.77 1.37 1.42 1.26 1.02 0.42
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -31 149 111 68 77 29 43
Total Preferred & Common Equity		 -31 149 111 68 77 29 43
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -31 149 111 68 77 29 43
Common Stock		 0.67 210 215 218 274 279 332
Retained Earnings		 -31 -61 -103 -149 -197 -250 -289

Quarterly Balance Sheets for Spruce Biosciences

This table presents Spruce Biosciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 113 88 76 65 32 22 15 56
Total Current Assets		 111 86 74 64 31 21 15 55
Cash & Equivalents		 99 81 70 60 26 16 11 54
Prepaid Expenses		 2.69 3.10 2.70 2.66 2.90 1.87 0.93 0.86
Other Current Assets		 0.42 1.61 1.53 0.86 2.06 2.70 2.92 0.09
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 1.85 1.67 1.61 1.53 1.07 0.87 0.80 1.13
Other Noncurrent Operating Assets		 1.85 1.67 1.61 1.53 1.07 0.87 0.80 1.13
Total Liabilities & Shareholders' Equity		 113 88 76 65 32 22 15 56
Total Liabilities		 28 21 16 13 16 8.64 9.93 22
Total Current Liabilities		 24 18 14 12 16 8.06 9.43 12
Short-Term Debt		 1.62 1.62 1.62 1.62 1.35 0.94 0.54 1.00
Accounts Payable		 3.15 1.89 0.68 1.80 1.88 0.81 1.39 2.68
Accrued Expenses		 12 12 11 7.74 12 6.31 7.50 8.10
Total Noncurrent Liabilities		 3.42 2.52 2.07 1.61 0.66 0.58 0.50 9.73
Long-Term Debt		 2.11 1.32 0.92 0.52 0.00 0.00 0.00 5.46
Other Noncurrent Operating Liabilities		 0.22 1.20 0.26 0.27 0.66 0.58 0.50 4.27
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 85 67 59 52 15 13 5.39 35
Total Preferred & Common Equity		 85 67 59 52 15 13 5.39 35
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 85 67 59 52 15 13 5.39 35
Common Stock		 273 275 277 278 280 280 280 336
Retained Earnings		 -187 -209 -218 -227 -264 -266 -275 -302

Annual Metrics And Ratios for Spruce Biosciences

This table displays calculated financial ratios and metrics derived from Spruce Biosciences' official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 23,214,041.00 23,463,089.00 23,560,250.00 40,710,692.00 41,302,599.00 1,070,370.00
DEI Adjusted Shares Outstanding		 0.00 23,214,041.00 23,463,089.00 23,560,250.00 40,710,692.00 41,302,599.00 1,070,370.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1.27 -1.80 -1.96 -1.18 -1.28 -36.40
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -51.32% -100.00%
EBITDA Growth		 0.00% -124.27% -43.51% -12.69% -11.37% -6.75% 28.72%
EBIT Growth		 0.00% -124.34% -43.98% -12.40% -9.96% -8.00% 28.74%
NOPAT Growth		 0.00% -124.43% -43.00% -12.40% -9.96% -8.00% 34.97%
Net Income Growth		 0.00% -125.70% -43.17% -9.19% -3.77% -10.68% 26.53%
EPS Growth		 0.00% 71.20% 63.29% -8.29% 36.73% -10.68% 47.27%
Operating Cash Flow Growth		 0.00% -118.11% -30.37% -16.18% 20.17% -68.19% 40.45%
Free Cash Flow Firm Growth		 0.00% 0.00% -40.04% -18.49% 21.54% -86.12% 42.54%
Invested Capital Growth		 0.00% -40.99% -59.50% -9.60% -190.54% 50.36% 21.94%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 40.09% -30.84% -100.00%
EBITDA Q/Q Growth		 0.00% 0.00% -1.91% -7.09% 1.80% -29.71% 19.15%
EBIT Q/Q Growth		 0.00% 0.00% -2.22% -6.72% 1.79% -29.86% 19.14%
NOPAT Q/Q Growth		 0.00% 0.00% -1.94% -6.72% 1.79% -29.86% 26.22%
Net Income Q/Q Growth		 0.00% 0.00% -2.04% -4.43% 2.43% -34.52% 18.62%
EPS Q/Q Growth		 0.00% 0.00% -108.34% 17.99% 16.78% -34.52% 40.22%
Operating Cash Flow Q/Q Growth		 0.00% -30.05% -1.51% -4.88% 1.56% -20.36% 29.91%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -6.20% 2.55% -11.66% 22.64%
Invested Capital Q/Q Growth		 0.00% 0.00% 22.79% 19.19% 7.53% -49.87% -34.70%
Profitability Metrics		 - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 100.00% 100.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% -520.95% -1,142.44% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% -515.34% -1,143.37% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% -515.34% -1,143.37% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% -474.96% -1,079.94% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.50% 101.11% 100.54% 97.67% 92.16% 94.45% 97.38%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 463.46% -40.30% -32.43% -51.35% -66.10% -100.70% -109.24%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% -54.85% -75.29% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% -50.55% -71.12% 0.00%
Return on Common Equity (ROCE)		 5,027.94% -32.65% -32.43% -51.35% -66.10% -100.70% -109.24%
Return on Equity Simple (ROE_SIMPLE)		 42.72% -19.77% -37.97% -67.43% -62.63% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.17 -21 -29 -33 -36 -39 -26
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -360.74% -800.36% 0.00%
Net Nonoperating Expense Percent (NNEP)		 751.07% -11.76% -9.54% -13.72% -13.79% -21.12% -31.21%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -45.58% -128.59% -60.12%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 125.38% 298.19% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 489.96% 945.18% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 615.34% 1,243.37% 0.00%
Earnings before Interest and Taxes (EBIT)		 -13 -29 -42 -47 -52 -56 -40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -29 -42 -47 -53 -56 -40
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 3.78 0.94 0.38 1.56 45.14 2.19
Price to Tangible Book Value (P/TBV)		 0.00 3.78 0.94 0.38 1.56 45.14 2.19
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 11.82 264.92 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 2.61 257.39 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 -1.57 0.03 0.04 0.07 0.04 0.06 0.00
Long-Term Debt to Equity		 -1.13 0.01 0.04 0.05 0.02 0.00 0.00
Financial Leverage		 -0.18 -1.04 -1.03 -1.06 -1.15 -1.23 -1.20
Leverage Ratio		 -1.66 1.14 1.11 1.18 1.31 1.42 1.38
Compound Leverage Factor		 -1.67 1.16 1.12 1.15 1.21 1.34 1.34
Debt to Total Capital		 274.21% 2.91% 4.20% 6.70% 4.18% 5.71% 0.00%
Short-Term Debt to Total Capital		 77.24% 1.66% 0.00% 2.21% 2.03% 5.31% 0.00%
Long-Term Debt to Total Capital		 196.98% 1.25% 4.20% 4.49% 2.15% 0.41% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1,715.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -1,890.01% 97.09% 95.80% 93.30% 95.82% 94.29% 100.00%
Debt to EBITDA		 -0.34 -0.15 -0.12 -0.10 -0.06 -0.03 0.00
Net Debt to EBITDA		 -0.04 5.23 2.78 1.57 1.77 0.66 0.00
Long-Term Debt to EBITDA		 -0.25 -0.07 -0.12 -0.07 -0.03 0.00 0.00
Debt to NOPAT		 -0.48 -0.22 -0.17 -0.15 -0.09 -0.04 0.00
Net Debt to NOPAT		 -0.06 7.41 3.96 2.24 2.56 0.94 0.00
Long-Term Debt to NOPAT		 -0.35 -0.09 -0.17 -0.10 -0.05 0.00 0.00
Altman Z-Score		 -12.42 25.16 2.70 -2.36 -0.70 36.66 -3.85
Noncontrolling Interest Sharing Ratio		 -984.88% 18.97% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 1.08 16.43 10.36 6.72 4.18 2.90 5.17
Quick Ratio		 0.91 16.10 10.03 6.35 3.94 2.54 4.85
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -20 -28 -33 -26 -48 -27
Operating Cash Flow to CapEx		 -315,425.00% -37,187.84% -38,577.42% -521,037.50% -475,357.14% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -60.83 -79.75 -77.62 -52.96 -155.08 -303.95
Operating Cash Flow to Interest Expense		 -194.11 -85.20 -103.99 -99.25 -68.89 -182.29 -370.30
Operating Cash Flow Less CapEx to Interest Expense		 -194.17 -85.43 -104.26 -99.26 -68.91 -182.29 -370.30
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.11 0.07 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 -2.30 -3.25 -5.18 -5.68 -16 -8.19 -6.39
Invested Capital Turnover		 0.00 0.00 0.00 0.00 -0.91 -0.40 0.00
Increase / (Decrease) in Invested Capital		 0.00 -0.94 -1.93 -0.50 -11 8.31 1.80
Enterprise Value (EV)		 103 412 -12 -48 26 1,264 44
Market Capitalization		 75 564 105 26 119 1,301 93
Book Value per Share		 ($40.08) $6.44 $4.75 $2.91 $1.88 $0.70 $39.72
Tangible Book Value per Share		 ($40.08) $6.44 $4.75 $2.91 $1.88 $0.70 $39.72
Total Capital		 1.62 154 116 73 80 31 43
Total Debt		 4.45 4.48 4.88 4.92 3.34 1.75 0.00
Total Long-Term Debt		 3.19 1.92 4.88 3.29 1.72 0.12 0.00
Net Debt		 0.52 -153 -117 -74 -93 -37 -49
Capital Expenditures (CapEx)		 0.00 0.07 0.09 0.01 0.01 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.32 -3.96 -5.95 -6.29 -17 -8.17 -6.88
Debt-free Net Working Capital (DFNWC)		 1.60 153 83 73 79 31 42
Net Working Capital (NWC)		 0.35 151 83 71 78 29 42
Net Nonoperating Expense (NNE)		 3.91 8.95 13 13 12 14 13
Net Nonoperating Obligations (NNO)		 0.52 -153 -117 -74 -93 -37 -49
Total Depreciation and Amortization (D&A)		 0.01 0.04 0.19 0.09 -0.57 0.05 0.02
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% -168.49% -166.38% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 786.40% 622.72% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 770.32% 589.70% 0.00%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($4.93) ($1.81) ($1.96) ($1.24) ($1.29) ($50.83)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 23.30M 23.49M 23.53M 38.51M 41.26M 766.60K
Adjusted Diluted Earnings per Share		 $0.00 ($4.93) ($1.81) ($1.96) ($1.24) ($1.29) ($50.83)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 23.30M 23.49M 23.53M 38.51M 41.26M 766.60K
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($4.93) ($1.81) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 5.99M 23.36M 39.75M 41.15M 0.00 1.37M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.17 -21 -29 -33 -36 -39 -26
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% -360.74% -800.36% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% -474.96% -1,079.94% 0.00%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 -200.35 -90.45 -121.93 -112.58 -107.65 -182.90 -444.59
NOPAT to Interest Expense		 -141.15 -63.75 -85.35 -78.81 -75.35 -128.03 -283.99
EBIT Less CapEx to Interest Expense		 -200.42 -90.68 -122.20 -112.60 -107.66 -182.90 -444.59
NOPAT Less CapEx to Interest Expense		 -141.21 -63.98 -85.62 -78.82 -75.37 -128.03 -283.99
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% -0.60% -5.68% 0.00% -9.50%

Quarterly Metrics And Ratios for Spruce Biosciences

This table displays calculated financial ratios and metrics derived from Spruce Biosciences' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 40,710,692.00 40,710,692.00 41,149,160.00 41,154,799.00 41,302,599.00 41,302,599.00 41,302,599.00 42,231,285.00 563,042.00 1,070,370.00 1,372,043.00
DEI Adjusted Shares Outstanding		 40,710,692.00 40,710,692.00 41,149,160.00 41,154,799.00 41,302,599.00 41,302,599.00 41,302,599.00 42,231,285.00 563,042.00 1,070,370.00 1,372,043.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.30 -0.25 -0.28 -0.22 -0.21 -0.57 -0.34 -0.05 -14.59 -13.68 -8.94
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 1.93% -25.64% -80.41% -75.86% -100.00% -100.00% -100.00% 0.00% 0.00%
EBITDA Growth		 -7.14% 7.93% 1.61% 22.46% 23.94% -114.60% -13.55% 73.21% 12.47% 53.90% 17.46%
EBIT Growth		 -5.87% 7.82% 0.21% 20.96% 23.11% -115.64% -13.46% 73.18% 12.53% 53.89% 15.74%
NOPAT Growth		 -18.18% 7.82% 4.29% 28.17% 31.12% -115.64% -14.72% 73.18% 12.53% 53.89% 17.29%
Net Income Growth		 -8.36% 10.72% 9.12% 28.41% 29.81% -136.77% -20.78% 77.49% 5.29% 37.83% 12.64%
EPS Growth		 37.50% 53.19% 30.00% 28.41% 29.81% -136.77% -20.78% 77.49% 7.43% 55.37% 62.67%
Operating Cash Flow Growth		 -43.03% 4.51% -26.87% -657.25% 24.83% -84.47% 14.92% 20.51% 42.36% 68.78% 31.39%
Free Cash Flow Firm Growth		 116.06% 137.59% 74.24% -588.18% -1,618.47% -938.50% -505.34% 63.97% 65.83% 61.97% 65.83%
Invested Capital Growth		 -153.89% -190.54% -138.61% 62.06% 69.37% 50.36% 22.79% 68.06% 13.15% 21.94% -44.96%
Revenue Q/Q Growth		 41.94% -6.05% -30.65% -19.58% -62.61% 15.78% -100.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 4.42% 9.24% -12.52% 20.56% 6.25% -156.07% 40.46% 81.46% -206.37% -34.88% -6.59%
EBIT Q/Q Growth		 3.64% 8.75% -13.16% 20.56% 6.26% -155.89% 40.46% 81.42% -205.68% -34.89% -8.81%
NOPAT Q/Q Growth		 2.25% 18.26% -13.16% 20.56% 6.26% -155.89% 39.80% 81.42% -205.68% -34.89% -7.99%
Net Income Q/Q Growth		 3.67% 19.46% -16.83% 21.02% 5.56% -171.70% 40.40% 85.28% -297.29% -78.35% 16.25%
EPS Q/Q Growth		 6.25% 26.67% -27.27% 21.02% 5.56% -171.70% 40.40% 85.28% -316.57% -31.07% 53.22%
Operating Cash Flow Q/Q Growth		 -715.60% 8.64% -33.45% 25.75% 16.95% -124.19% 38.45% 30.64% 39.78% -21.44% -35.25%
Free Cash Flow Firm Q/Q Growth		 -67.27% 140.32% -170.40% -781.69% -1.80% -32.71% 49.18% 47.52% 3.44% -47.66% 54.33%
Invested Capital Q/Q Growth		 4.56% 7.53% 29.74% 38.82% 22.95% -49.87% -9.28% 74.69% -109.54% -34.70% -102.94%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 -402.08% -388.43% -630.27% -622.61% -1,561.13% -3,452.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 -444.45% -386.70% -631.02% -623.35% -1,562.79% -3,453.95% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 -398.15% -386.70% -631.02% -623.35% -1,562.79% -3,453.95% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 -402.02% -344.65% -580.67% -570.25% -1,440.37% -3,380.06% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.97% 89.13% 92.02% 91.48% 92.17% 97.86% 97.96% 76.78% 99.79% 131.95% 101.56%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -59.95% -66.10% -53.55% -55.37% -57.55% -100.70% -135.33% -133.62% -167.93% -109.24% -148.85%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -27.53% -41.16% -56.39% -59.23% -124.63% -227.45% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 -27.80% -36.68% -51.89% -54.18% -114.87% -222.58% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -59.95% -66.10% -53.55% -55.37% -57.55% -100.70% -135.33% -133.62% -167.93% -109.24% -148.85%
Return on Equity Simple (ROE_SIMPLE)		 -57.52% 0.00% -70.17% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.56 -7.81 -8.84 -7.03 -6.59 -17 -10 -1.88 -5.76 -7.77 -8.39
NOPAT Margin		 -311.12% -270.69% -441.71% -436.35% -1,093.95% -2,417.76% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -2.96% -2.55% -2.91% -2.38% -2.60% -10.32% -7.60% -0.45% -7.29% -16.01% -10.78%
Return On Investment Capital (ROIC_SIMPLE)		 - -9.79% -12.71% -11.22% -12.06% -55.13% -60.86% -13.34% -97.22% -18.28% -20.41%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 105.34% 102.22% 215.68% 220.87% 574.09% 475.47% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 439.11% 384.48% 515.33% 502.48% 1,088.70% 3,078.48% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 544.45% 486.70% 731.02% 723.35% 1,662.79% 3,553.95% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -12 -11 -13 -10 -9.41 -24 -14 -2.69 -8.23 -11 -12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -12 -11 -13 -10 -9.40 -24 -14 -2.69 -8.23 -11 -12
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.08 1.56 0.49 0.36 28.49 45.14 58.64 0.23 0.94 2.19 2.59
Price to Tangible Book Value (P/TBV)		 1.08 1.56 0.49 0.36 28.49 45.14 58.64 0.23 0.94 2.19 2.59
Price to Revenue (P/Rev)		 12.78 11.82 3.19 2.23 207.17 264.92 308.92 2.36 7.23 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 2.61 0.00 0.00 199.13 257.39 300.57 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.04 0.04 0.06 0.06 0.06 0.09 0.07 0.10 0.00 0.19
Long-Term Debt to Equity		 0.04 0.02 0.02 0.03 0.03 0.00 0.00 0.00 0.00 0.00 0.16
Financial Leverage		 -1.15 -1.15 -1.09 -1.17 -1.17 -1.23 -1.25 -1.13 -1.18 -1.20 -1.44
Leverage Ratio		 1.27 1.31 1.30 1.29 1.30 1.42 1.45 1.35 1.41 1.38 1.76
Compound Leverage Factor		 1.28 1.17 1.19 1.18 1.20 1.39 1.42 1.03 1.41 1.82 1.78
Debt to Total Capital		 5.34% 4.18% 4.23% 5.47% 5.41% 5.71% 8.07% 6.68% 9.10% 0.00% 15.72%
Short-Term Debt to Total Capital		 1.80% 2.03% 2.33% 2.59% 2.97% 5.31% 8.07% 6.68% 9.10% 0.00% 2.43%
Long-Term Debt to Total Capital		 3.54% 2.15% 1.90% 2.88% 2.44% 0.41% 0.00% 0.00% 0.00% 0.00% 13.29%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 94.66% 95.82% 95.77% 94.53% 94.59% 94.29% 91.93% 93.32% 90.90% 100.00% 84.28%
Debt to EBITDA		 -0.09 -0.06 -0.06 -0.07 -0.07 -0.03 -0.02 -0.02 -0.01 0.00 -0.17
Net Debt to EBITDA		 1.93 1.77 1.52 1.39 1.32 0.66 0.42 0.31 0.20 0.00 1.27
Long-Term Debt to EBITDA		 -0.06 -0.03 -0.03 -0.04 -0.03 0.00 0.00 0.00 0.00 0.00 -0.15
Debt to NOPAT		 -0.13 -0.09 -0.08 -0.10 -0.10 -0.04 -0.03 -0.03 -0.02 0.00 -0.27
Net Debt to NOPAT		 2.79 2.56 2.17 1.99 1.89 0.94 0.60 0.44 0.29 0.00 2.00
Long-Term Debt to NOPAT		 -0.09 -0.05 -0.04 -0.05 -0.04 0.00 0.00 0.00 0.00 0.00 -0.23
Altman Z-Score		 0.31 0.59 -1.85 -2.62 61.27 39.00 20.50 -16.52 -26.13 -2.05 -4.80
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.59 4.18 4.67 5.17 5.36 2.90 1.95 2.60 1.54 5.17 4.67
Quick Ratio		 4.47 3.94 4.41 4.88 5.06 2.54 1.64 2.03 1.13 4.85 4.59
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1.25 3.00 -2.11 -19 -19 -25 -13 -6.71 -6.48 -9.57 -4.37
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -87,320.00%
Free Cash Flow to Firm to Interest Expense		 10.49 28.30 -21.77 -224.36 -266.99 -449.23 -355.15 -231.36 -340.96 -1,594.33 -6.48
Operating Cash Flow to Interest Expense		 -103.10 -105.75 -154.21 -133.81 -129.90 -369.23 -353.53 -304.41 -279.79 -1,076.00 -12.96
Operating Cash Flow Less CapEx to Interest Expense		 -103.10 -105.75 -154.21 -133.81 -129.90 -369.23 -353.53 -304.41 -279.79 -1,076.00 -12.97
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.07 0.11 0.09 0.10 0.08 0.07 0.05 0.03 0.02 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -18 -16 -12 -7.09 -5.46 -8.19 -8.95 -2.26 -4.74 -6.39 -13
Invested Capital Turnover		 -0.58 -0.91 -1.23 -0.74 -0.61 -0.40 -0.28 -0.28 -0.14 0.00 0.00
Increase / (Decrease) in Invested Capital		 -11 -11 -6.73 12 12 8.31 2.64 4.83 0.72 1.80 -4.02
Enterprise Value (EV)		 -11 26 -46 -45 1,414 1,264 874 -12 -5.09 44 42
Market Capitalization		 92 119 32 21 1,471 1,301 899 3.06 5.04 93 90
Book Value per Share		 $2.10 $1.88 $1.62 $1.44 $1.25 $0.70 $0.37 $0.31 $9.57 $39.72 $25.25
Tangible Book Value per Share		 $2.10 $1.88 $1.62 $1.44 $1.25 $0.70 $0.37 $0.31 $9.57 $39.72 $25.25
Total Capital		 90 80 70 63 55 31 17 14 5.93 43 41
Total Debt		 4.82 3.34 2.94 3.43 2.96 1.75 1.35 0.94 0.54 0.00 6.46
Total Long-Term Debt		 3.20 1.72 1.32 1.80 1.33 0.12 0.00 0.00 0.00 0.00 5.46
Net Debt		 -103 -93 -78 -66 -57 -37 -24 -15 -10 -49 -48
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -19 -17 -12 -8.43 -6.72 -8.17 -9.36 -2.55 -5.04 -6.88 -9.83
Debt-free Net Working Capital (DFNWC)		 89 79 69 61 53 31 16 14 5.63 42 44
Net Working Capital (NWC)		 87 78 67 60 52 29 15 13 5.09 42 43
Net Nonoperating Expense (NNE)		 2.79 2.14 2.78 2.16 2.09 6.71 3.90 0.18 2.45 6.88 3.88
Net Nonoperating Obligations (NNO)		 -103 -93 -78 -66 -57 -37 -24 -15 -10 -49 -48
Total Depreciation and Amortization (D&A)		 -0.12 -0.05 0.02 0.01 0.01 0.01 0.01 0.01 0.00 0.01 0.25
Debt-free, Cash-free Net Working Capital to Revenue		 -270.20% -168.49% -119.10% -88.11% -94.61% -166.38% -321.76% -196.38% -723.24% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 1,229.83% 786.40% 682.27% 639.88% 751.12% 622.72% 558.78% 1,065.13% 807.46% 0.00% 0.00%
Net Working Capital to Revenue		 1,207.30% 770.32% 666.25% 622.93% 728.28% 589.70% 512.55% 992.53% 730.13% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.30) ($0.22) ($0.28) ($1,237.50) ($0.21) ($42.82) ($0.32) ($3.50) ($14.58) ($19.11) ($8.94)
Adjusted Weighted Average Basic Shares Outstanding		 40.71M 38.51M 41.10M 7.32K 41.30M 550.15K 43.94M 591.14K 563.07K 766.60K 1.37M
Adjusted Diluted Earnings per Share		 ($0.30) ($0.22) ($0.28) ($1,237.50) ($0.21) ($42.82) ($0.32) ($3.50) ($14.58) ($19.11) ($8.94)
Adjusted Weighted Average Diluted Shares Outstanding		 40.71M 38.51M 41.10M 7.32K 41.30M 550.15K 43.94M 591.14K 563.07K 766.60K 1.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 ($42.82) $0.00 $0.00 $0.00 ($19.11) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 40.71M 41.15M 41.15M 7.34K 41.30M 0.00 42.23M 563.04K 1.07M 1.37M 2.75M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.56 -7.81 -8.84 -7.03 -6.59 -17 -10 -1.88 -5.76 -7.77 -8.39
Normalized NOPAT Margin		 -311.12% -270.69% -441.71% -436.35% -1,093.95% -2,417.76% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 -402.02% -344.65% -580.67% -570.25% -1,440.37% -3,380.06% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -102.82 -105.32 -130.24 -120.92 -132.51 -429.89 -398.17 -92.83 -433.11 -1,850.00 -17.92
NOPAT to Interest Expense		 -80.34 -73.72 -91.17 -84.64 -92.75 -300.93 -281.79 -64.98 -303.17 -1,295.00 -12.45
EBIT Less CapEx to Interest Expense		 -102.82 -105.32 -130.24 -120.92 -132.51 -429.89 -398.17 -92.83 -433.11 -1,850.00 -17.93
NOPAT Less CapEx to Interest Expense		 -80.34 -73.72 -91.17 -84.64 -92.75 -300.93 -281.79 -64.98 -303.17 -1,295.00 -12.46
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -5.54% -5.68% -0.13% 0.00% 0.00% 0.00% -0.01% 0.00% 0.00% -9.50% -10.53%

Financials Breakdown Chart

Spruce Biosciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Spruce Biosciences' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Spruce Biosciences' net income appears to be on an upward trend, with a most recent value of -$38.97 million in 2025, rising from -$13.09 million in 2019. The previous period was -$53.04 million in 2024. Check out Spruce Biosciences' forecast to explore projected trends and price targets.

Spruce Biosciences' total operating income in 2025 was -$36.51 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $36.51 million

Over the last 6 years, Spruce Biosciences' total revenue changed from $0.00 in 2019 to $0.00 in 2025, a change of 0.0%.

Spruce Biosciences' total liabilities were at $10.51 million at the end of 2025, a 35.9% decrease from 2024, and a 39.8% increase since 2019.

In the past 6 years, Spruce Biosciences' cash and equivalents has ranged from $3.92 million in 2019 to $157.15 million in 2020, and is currently $48.91 million as of their latest financial filing in 2025.

Over the last 6 years, Spruce Biosciences' book value per share changed from -40.08 in 2019 to 39.72 in 2025, a change of -199.1%.


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Financial statements for NASDAQ:SPRB last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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