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Spero Therapeutics (SPRO) Financials

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$1.22 0.00 (0.00%)
As of 08/21/2026 04:00 PM Eastern
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Annual Income Statements for Spero Therapeutics

Annual Income Statements for Spero Therapeutics

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 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 -46 -42 -61 -78 -90 -47 23 -69 8.57
Consolidated Net Income / (Loss)		 -13 -33 -40 -42 -61 -78 -90 -46 23 -69 8.57
Net Income / (Loss) Continuing Operations		 -13 -33 -40 -42 -61 -78 -90 -47 23 -69 8.57
Total Pre-Tax Income 		-13 -33 -40 -42 -61 -78 -90 -47 25 -69 8.83
Total Operating Income		 -13 -33 -42 -43 -63 -79 -88 -42 21 -73 6.31
Total Gross Profit		 0.00 0.34 1.98 3.97 18 9.33 18 54 104 48 67
Total Revenue		 0.00 0.34 1.98 3.97 18 9.33 18 54 104 48 67
Operating Revenue		 0.00 0.34 1.98 3.97 18 9.33 18 54 104 48 67
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 13 34 44 47 81 88 106 96 82 121 60
Selling, General & Admin Expense		 2.20 7.22 11 13 16 21 42 36 26 24 21
Research & Development Expense		 11 26 33 34 66 67 65 48 51 97 38
Impairment Charge		 - - - - - - - 0.64 5.31 0.00 0.59
Restructuring Charge		 - - - - - - 0.00 12 0.00 0.88 0.26
Total Other Income / (Expense), net		 0.17 0.58 1.84 1.14 2.07 0.83 -1.79 -4.22 3.92 4.80 2.52
Interest & Investment Income		 0.00 0.00 0.30 1.10 1.33 0.40 0.35 1.11 3.94 4.74 2.51
Other Income / (Expense), net		 0.17 0.58 1.54 0.04 0.74 0.43 -0.19 0.86 -0.01 0.06 0.01
Income Tax Expense		 - - - - - - - 0.00 2.60 0.00 0.26
Basic Earnings per Share		 ($53.11) ($95.87) ($17.82) ($2.60) ($3.35) ($3.52) ($2.91) ($1.23) $0.43 ($1.27) $0.15
Weighted Average Basic Shares Outstanding		 252.81K 312.17K 2.59M 16.00M 18.16M 22.39M 30.90M 37.59M 52.70M 54.04M 56.02M
Diluted Earnings per Share		 ($53.11) ($95.87) ($17.82) ($2.60) ($3.35) ($3.52) ($2.91) ($1.23) $0.43 ($1.27) $0.15
Weighted Average Diluted Shares Outstanding		 252.81K 312.17K 2.59M 16.00M 18.16M 22.39M 30.90M 37.59M 52.99M 54.04M 59.04M
Weighted Average Basic & Diluted Shares Outstanding		 252.81K 312.17K 2.59M 16.00M 18.16M 22.39M 30.90M 52.57M 53.87M 55.90M 57.89M

Quarterly Income Statements for Spero Therapeutics

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 51 -13 -18 -18 -20 -14 -1.70 -7.38 32 -7.20 -9.55
Consolidated Net Income / (Loss)		 51 -13 -18 -17 -21 -14 -1.70 -7.38 32 -7.20 -9.55
Net Income / (Loss) Continuing Operations		 51 -13 -18 -18 -20 -14 -1.70 -7.38 32 -7.20 -9.55
Total Pre-Tax Income 		52 -13 -18 -17 -21 -14 -1.70 -7.38 32 -7.20 -9.55
Total Operating Income		 51 -14 -19 -19 -22 -15 -2.44 -7.92 31 -7.54 -9.93
Total Gross Profit		 74 9.27 10 13 15 5.87 14 5.44 41 0.26 0.00
Total Revenue		 74 9.27 10 13 15 5.87 14 5.44 41 0.26 0.00
Operating Revenue		 74 9.27 10 13 15 5.87 14 5.44 41 0.26 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		 23 23 29 32 37 21 17 13 9.89 7.80 9.93
Selling, General & Admin Expense		 6.43 5.92 5.53 5.20 7.06 6.82 5.88 4.17 4.30 4.89 6.49
Research & Development Expense		 17 17 24 27 29 14 11 8.60 5.59 2.91 3.43
Restructuring Charge		 - 0.00 0.00 0.00 0.88 0.18 0.08 0.00 - 0.00 0.00
Total Other Income / (Expense), net		 1.05 1.31 1.20 1.16 1.13 0.87 0.74 0.53 0.38 0.34 0.37
Interest & Investment Income		 1.04 1.33 1.20 1.18 1.03 0.86 0.74 0.53 0.38 0.34 0.38
Other Income / (Expense), net		 0.00 -0.01 0.00 -0.03 0.10 0.00 0.00 0.00 - -0.00 -0.00
Basic Earnings per Share		 $0.97 ($0.24) ($0.33) ($0.32) ($0.38) ($0.25) ($0.03) ($0.13) $0.56 ($0.13) ($0.16)
Weighted Average Basic Shares Outstanding		 52.70M 53.52M 53.96M 54.12M 54.04M 55.38M 56.03M 56.28M 56.02M 57.28M 57.97M
Diluted Earnings per Share		 $0.97 ($0.24) ($0.33) ($0.32) ($0.38) ($0.25) ($0.03) ($0.13) $0.56 ($0.13) ($0.16)
Weighted Average Diluted Shares Outstanding		 52.99M 53.52M 53.96M 54.12M 54.04M 55.38M 56.03M 56.28M 59.04M 57.28M 57.97M
Weighted Average Basic & Diluted Shares Outstanding		 53.87M 53.99M 54.05M 54.52M 55.90M 55.91M 56.28M 56.34M 57.89M 57.90M 58.23M

Annual Cash Flow Statements for Spero Therapeutics

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 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		 5.44 4.62 77 -53 -4.35 -10 27 -3.48 -33 -23 -13
Net Cash From Operating Activities		 -9.61 -29 -39 -40 -50 -86 -64 -7.73 -33 -23 -13
Net Cash From Continuing Operating Activities		 -9.61 -29 -39 -40 -50 -86 -64 -7.73 -33 -23 -13
Net Income / (Loss) Continuing Operations		 -13 -33 -40 -42 -61 -78 -90 -46 23 -69 8.57
Consolidated Net Income / (Loss)		 -13 -33 -40 -42 -61 -78 -90 -46 23 -69 8.57
Depreciation Expense		 0.01 0.28 0.36 0.41 0.75 0.76 0.65 0.87 0.37 0.00 0.00
Non-Cash Adjustments To Reconcile Net Income		 3.39 4.72 -0.03 3.37 4.13 5.14 12 16 14 8.84 30
Changes in Operating Assets and Liabilities, net		 0.15 -1.32 0.44 -1.07 6.78 -13 13 22 -70 36 -51
Net Cash From Investing Activities		 -0.23 -0.83 -0.03 -83 30 10 7.67 34 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 -0.23 -0.83 -0.03 -83 30 10 7.67 34 0.00 0.00 0.00
Net Cash From Financing Activities		 0.00 34 116 70 16 131 84 -30 0.22 0.00 0.00
Net Cash From Continuing Financing Activities		 15 34 116 70 16 65 84 -30 0.22 0.00 0.00
Cash Income Taxes Paid		 - - - - - - - 0.00 2.21 0.00 0.00

Quarterly Cash Flow Statements for Spero Therapeutics

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -17 5.94 -19 13 -23 -4.00 -18 17 -8.35 16 -5.36
Net Cash From Operating Activities		 -17 5.94 -19 13 -23 -4.00 -18 17 -8.35 16 -5.36
Net Cash From Continuing Operating Activities		 -17 5.94 -19 13 -23 -4.00 -18 17 -8.35 16 -5.36
Net Income / (Loss) Continuing Operations		 51 -13 -18 -17 -21 -14 -1.70 -7.38 32 -7.20 -9.55
Consolidated Net Income / (Loss)		 51 -13 -18 -17 -21 -14 -1.70 -7.38 32 -7.20 -9.55
Non-Cash Adjustments To Reconcile Net Income		 2.25 2.28 2.37 2.42 1.77 1.83 -25 1.92 25 1.34 1.05
Changes in Operating Assets and Liabilities, net		 -71 16 -3.26 27 -4.28 8.04 8.80 23 -65 22 3.15

Annual Balance Sheets for Spero Therapeutics

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

Metric 2014 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2014 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 14 14 93 129 106 153 171 125 182 111 69
Total Current Assets		 7.30 12 92 124 95 139 158 114 131 107 67
Cash & Equivalents		 4.81 10 87 34 30 85 113 109 76 53 40
Prepaid Expenses		 0.41 1.25 1.83 7.48 4.82 6.06 8.83 3.38 4.18 1.91 1.63
Other Current Assets		 - 0.00 - - - - - 0.00 49 49 25
Plant, Property, & Equipment, net		 0.43 1.50 1.16 2.89 2.27 1.67 1.03 0.37 0.00 0.00 0.00
Total Noncurrent Assets		 6.05 0.40 0.26 1.89 8.42 13 12 11 51 3.27 1.63
Other Noncurrent Operating Assets		 0.09 0.21 0.21 1.66 8.40 12 12 11 4.59 3.27 1.63
Total Liabilities & Shareholders' Equity		 14 14 93 129 106 153 171 125 182 111 69
Total Liabilities		 6.11 7.41 8.52 13 32 21 83 49 75 64 9.90
Total Current Liabilities		 6.04 6.92 8.16 12 27 14 19 22 37 49 8.87
Accounts Payable		 0.88 1.14 3.47 3.60 4.15 1.16 1.10 0.62 1.38 7.31 0.69
Accrued Expenses		 0.23 2.93 4.32 8.26 22 12 14 8.97 6.56 18 5.58
Current Deferred Revenue		 4.75 0.14 0.14 0.23 - 0.00 1.86 10 27 22 0.26
Current Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.00 0.39 0.17 0.38
Other Current Liabilities		 - 2.71 0.22 0.22 0.93 0.95 1.36 1.69 1.72 1.75 1.96
Total Noncurrent Liabilities		 0.07 0.49 0.37 0.83 4.87 7.07 64 27 38 15 1.03
Long-Term Debt		 - - - - 0.25 0.18 0.14 0.10 0.09 0.00 0.09
Other Noncurrent Operating Liabilities		 0.07 - - - 4.62 6.89 55 4.96 3.83 2.55 0.94
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 7.67 -49 85 116 75 132 88 76 107 46 59
Total Preferred & Common Equity		 7.67 -45 85 116 75 132 88 76 107 46 59
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 7.67 -45 85 116 75 132 88 76 107 46 59
Common Stock		 17 0.00 181 254 274 410 456 490 498 506 510
Retained Earnings		 -6.47 -45 -97 -139 -199 -278 -367 -414 -391 -460 -451

Quarterly Balance Sheets for Spero Therapeutics

This table presents Spero Therapeutics' 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 Q2 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 6/30/2026
Total Assets		 107 168 150 135 78 62 54 59 53
Total Current Assets		 102 140 122 132 75 59 52 58 52
Cash & Equivalents		 94 82 64 76 49 31 49 56 51
Prepaid Expenses		 5.41 3.67 3.20 2.06 1.55 1.30 1.25 1.44 0.79
Other Current Assets		 - 49 51 51 24 24 0.87 0.00 0.03
Plant, Property, & Equipment, net		 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 4.84 28 28 3.53 3.00 2.72 1.85 1.41 1.18
Other Noncurrent Operating Assets		 4.84 4.34 4.08 3.53 3.00 2.72 1.85 1.41 1.18
Total Liabilities & Shareholders' Equity		 107 168 150 135 78 62 54 59 53
Total Liabilities		 53 71 69 70 44 29 28 6.09 8.56
Total Current Liabilities		 25 42 46 49 29 15 14 5.49 8.43
Accounts Payable		 1.10 3.07 2.70 6.09 1.77 0.78 1.40 0.22 0.16
Accrued Expenses		 6.56 5.38 10 15 8.19 6.73 7.81 3.14 6.11
Current Deferred Revenue		 14 31 31 26 17 5.43 2.38 0.00 0.00
Current Deferred & Payable Income Tax Liabilities		 2.21 0.39 0.39 0.10 0.17 0.16 0.16 0.16 0.16
Other Current Liabilities		 1.71 1.73 1.73 1.74 1.80 1.84 1.90 1.97 2.00
Total Noncurrent Liabilities		 28 30 24 21 15 14 14 0.60 0.13
Long-Term Debt		 0.06 0.04 0.03 0.01 0.00 - - 0.09 0.09
Other Noncurrent Operating Liabilities		 4.12 3.52 3.21 2.88 2.17 1.77 1.45 0.51 0.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 54 96 81 66 34 33 26 53 44
Total Preferred & Common Equity		 54 96 81 66 34 33 26 53 44
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 54 96 81 66 34 33 26 53 44
Common Stock		 496 500 502 504 507 508 509 511 512
Retained Earnings		 -442 -404 -422 -439 -474 -475 -483 -458 -468

Annual Metrics And Ratios for Spero Therapeutics

This table displays calculated financial ratios and metrics derived from Spero Therapeutics' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 4,601,241.00 4,601,241.00 14,369,182.00 18,187,488.00 19,128,146.00 27,187,489.00 32,323,617.00 51,776,053.00 52,999,317.00 54,518,165.00 56,339,295.00
DEI Adjusted Shares Outstanding		 4,601,241.00 4,601,241.00 14,369,182.00 18,187,488.00 19,128,146.00 27,187,489.00 32,323,617.00 51,776,053.00 52,999,317.00 54,518,165.00 56,339,295.00
DEI Earnings Per Adjusted Shares Outstanding		 -2.92 -6.50 -3.21 -2.29 -3.19 -2.88 -2.78 -0.91 0.43 -1.26 0.15
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -100.00% 0.00% 490.75% 100.40% 363.19% -49.21% 95.67% 193.10% 93.95% -53.77% 39.24%
EBITDA Growth		 -2,208.01% -146.25% -23.06% -8.03% -45.21% -24.77% -11.95% 53.64% 153.97% -435.71% 108.62%
EBIT Growth		 -2,650.14% -148.16% -23.12% -6.40% -46.10% -25.94% -12.05% 53.11% 151.93% -441.46% 108.62%
NOPAT Growth		 -2,686.52% -149.28% -25.61% -2.58% -47.68% -25.15% -11.20% 52.03% 165.29% -366.29% 111.93%
Net Income Growth		 -704.34% -148.16% -22.20% -4.45% -46.24% -28.49% -14.66% 48.29% 149.14% -400.65% 112.50%
EPS Growth		 -15,074.29% -80.51% 81.41% 85.41% -28.85% -5.07% 17.33% 57.73% 134.96% -395.35% 111.81%
Operating Cash Flow Growth		 -1,403.21% -201.41% -35.06% -1.31% -26.23% -71.68% 25.07% 87.99% -326.79% 28.95% 46.15%
Free Cash Flow Firm Growth		 -547.14% -187.32% -60.17% -6.24% -11.78% -85.47% 102.51% -3,290.29% 18.36% 68.64% -39.79%
Invested Capital Growth		 0.00% 0.00% 40.53% 117.30% -1,852.91% 173.54% -1,191.60% 42.95% 192.66% -122.08% 378.55%
Revenue Q/Q Growth		 -100.00% 0.00% 0.00% 21.40% 13.33% -17.26% 4.81% 507.23% 33.57% -54.93% 64.74%
EBITDA Q/Q Growth		 -914.87% 0.00% 0.00% 5.85% -29.07% 8.57% -11.09% 58.45% 2,028.07% -6,569.61% 113.53%
EBIT Q/Q Growth		 -2,738.49% 0.00% 0.00% 6.47% -29.04% 8.06% -11.01% 57.97% 3,679.40% -6,335.56% 113.53%
NOPAT Q/Q Growth		 -6,069.21% 0.00% 0.00% 6.38% -30.57% 8.22% -10.98% 55.87% 981.00% -4,551.51% 118.70%
Net Income Q/Q Growth		 -2,400.82% 0.00% 0.00% 7.28% -30.91% 7.56% -13.47% 54.68% 1,513.01% -2,051.78% 119.55%
EPS Q/Q Growth		 -48,181.82% 0.00% 0.00% -103.51% -31.37% 18.14% -12.79% 60.70% -2.27% -1,687.50% 118.99%
Operating Cash Flow Q/Q Growth		 -837.08% 1.80% -9.94% -1.98% -8.36% 1.13% -20.54% 90.28% -213.85% -33.69% 54.38%
Free Cash Flow Firm Q/Q Growth		 -551.26% 0.00% 0.00% 0.00% 6.11% -1.91% 104.45% 9.96% -322.05% 54.14% 9.03%
Invested Capital Q/Q Growth		 -100.00% 0.00% 0.00% 107.26% -1,175.97% -7.33% -409.72% -85.25% 176.51% 37.18% 185.20%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% -9,660.30% -2,012.43% -1,084.85% -340.10% -835.50% -478.01% -75.60% 21.04% -152.78% 9.46%
Operating Margin		 0.00% -9,916.72% -2,108.64% -1,079.32% -344.13% -847.94% -481.87% -78.86% 20.70% -152.91% 9.45%
EBIT Margin		 0.00% -9,743.58% -2,030.77% -1,078.24% -340.10% -843.31% -482.92% -77.25% 20.68% -152.78% 9.46%
Profit (Net Income) Margin		 0.00% -9,743.58% -2,015.46% -1,050.48% -331.65% -839.01% -491.65% -86.74% 21.98% -142.91% 12.83%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 99.64% 100.00% 100.00% 98.65% 89.77% 100.00% 97.05%
Interest Burden Percent		 100.00% 100.00% 99.25% 97.43% 97.87% 99.49% 101.81% 113.83% 118.34% 93.54% 139.74%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.23% 0.00% 2.95%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -430.05% 101.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -403.39% 96.19%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 340.43% -85.13%
Return on Equity (ROE)		 0.00% 66.28% -223.39% -41.49% -63.99% -75.77% -81.47% -56.53% 24.95% -89.62% 16.31%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -7,950.78% 0.00% -1,278.71% 0.00% 0.00% -145.00% 0.00% -103.39%
Operating Return on Assets (OROA)		 0.00% -237.01% -74.94% -38.44% -53.15% -60.63% -54.33% -27.94% 13.98% -50.05% 7.04%
Return on Assets (ROA)		 0.00% -237.01% -74.38% -37.45% -51.83% -60.32% -55.32% -31.37% 14.85% -46.81% 9.55%
Return on Common Equity (ROCE)		 0.00% 61.15% -245.00% -41.35% -63.87% -75.77% -81.47% -56.53% 24.95% -89.62% 16.31%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 71.83% -47.15% -36.07% -81.70% -59.29% -101.66% -61.13% 21.34% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.33 -23 -29 -30 -44 -55 -62 -30 19 -51 6.13
NOPAT Margin		 0.00% -6,941.70% -1,476.05% -755.53% -240.89% -593.56% -337.31% -55.20% 18.58% -107.04% 9.17%
Net Nonoperating Expense Percent (NNEP)		 0.00% 41.49% -50.72% -11.54% -16.91% -21.96% -20.64% -13.22% 3.80% -26.66% 5.25%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 18.03% -111.34% 10.37%
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		 0.00% 2,156.12% 547.75% 324.94% 84.86% 229.80% 228.42% 68.18% 24.62% 49.41% 31.70%
R&D to Revenue		 0.00% 7,860.60% 1,660.89% 854.39% 358.06% 718.15% 353.45% 88.94% 49.57% 201.67% 57.58%
Operating Expenses to Revenue		 0.00% 10,016.72% 2,208.64% 1,179.32% 442.91% 947.94% 581.87% 180.05% 79.30% 252.91% 90.55%
Earnings before Interest and Taxes (EBIT)		 -13 -33 -40 -43 -62 -79 -88 -41 21 -73 6.32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -32 -40 -43 -62 -78 -87 -40 22 -73 6.32
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 2.00 0.97 2.47 3.99 5.86 1.18 0.73 1.22 2.22
Price to Tangible Book Value (P/TBV)		 0.00 0.00 2.00 0.97 2.47 3.99 5.86 1.18 0.73 1.22 2.22
Price to Revenue (P/Rev)		 0.00 26.54 85.31 28.20 10.01 56.50 28.35 1.67 0.75 1.17 1.97
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.42 0.00 15.31
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% 29.27% 0.00% 6.53%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 75.40 0.00 0.00 0.05 0.00 4.83
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 41.39 0.00 5.56 42.92 20.34 0.00 0.02 0.07 1.36
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.00 14.41
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.00 14.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.00 14.87
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 0.00 217.57 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.92 -1.18 -1.01 -1.04 -1.01 -1.24 -1.55 -1.01 -0.84 -0.89
Leverage Ratio		 0.00 -0.28 3.00 1.11 1.23 1.26 1.47 1.80 1.68 1.91 1.71
Compound Leverage Factor		 0.00 -0.28 2.98 1.08 1.21 1.25 1.50 2.05 1.99 1.79 2.39
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.33% 0.13% 0.16% 0.13% 0.08% 0.00% 0.15%
Short-Term Debt 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%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.33% 0.13% 0.16% 0.13% 0.08% 0.00% 0.15%
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% 7.73% 0.42% 0.31% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 92.27% 99.58% 99.69% 99.67% 99.86% 99.84% 99.87% 99.92% 100.00% 99.85%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 1.31 1.63 1.68 2.69 -3.49 0.00 -6.36
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.01
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 1.85 2.29 2.38 3.69 -3.95 0.00 -6.56
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.01
Altman Z-Score		 0.00 -11.26 10.12 3.58 -0.12 11.58 0.13 -3.32 -0.81 -6.42 1.08
Noncontrolling Interest Sharing Ratio		 0.00% 7.73% -9.67% 0.35% 0.19% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 1.72 11.29 10.08 3.58 9.70 8.46 5.25 3.53 2.19 7.59
Quick Ratio		 0.00 1.54 10.82 9.40 3.37 9.22 7.98 5.09 2.10 1.14 4.54
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -6.70 -19 -31 -33 -37 -68 1.71 -54 -44 -14 -19
Operating Cash Flow to CapEx		 -4,141.38% -3,489.04% -144,855.56% -1,626.64% -15,929.94% -54,695.54% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.88 -8.80 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -33.17 -1.25 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -33.17 -1.25 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.02 0.04 0.04 0.16 0.07 0.11 0.36 0.68 0.33 0.74
Accounts Receivable Turnover		 0.00 1.10 3.01 5.72 4.52 1.43 4.58 28.73 78.95 20.72 42.92
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 0.22 1.49 1.96 7.11 4.73 13.55 76.77 560.98 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)		 0.00 331.22 121.27 63.82 80.83 256.05 79.68 12.70 4.62 17.61 8.50
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)		 0.00 331.22 121.27 63.82 80.83 256.05 79.68 12.70 4.62 17.61 8.50
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -4.00 -2.38 0.41 -7.22 5.31 -58 -33 31 -6.77 19
Invested Capital Turnover		 0.00 -0.17 -0.62 -4.03 -5.40 -9.76 -0.69 -1.18 -85.45 4.02 11.06
Increase / (Decrease) in Invested Capital		 -2.63 -4.00 1.62 2.79 -7.63 13 -63 25 64 -37 26
Enterprise Value (EV)		 0.00 -5.23 82 -3.23 102 400 371 -19 1.66 3.26 91
Market Capitalization		 8.89 8.89 169 112 184 527 518 90 78 56 131
Book Value per Share		 $0.00 ($9.88) $5.89 $6.35 $3.90 $4.86 $2.73 $1.47 $2.02 $0.85 $1.05
Tangible Book Value per Share		 $0.00 ($9.88) $5.89 $6.35 $3.90 $4.86 $2.73 $1.47 $2.02 $0.85 $1.05
Total Capital		 0.00 -49 85 116 75 132 88 76 107 46 59
Total Debt		 0.00 0.00 0.00 0.00 0.25 0.18 0.14 0.10 0.09 0.00 0.09
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.25 0.18 0.14 0.10 0.09 0.00 0.09
Net Debt		 0.00 -10 -87 -115 -82 -127 -146 -109 -76 -53 -40
Capital Expenditures (CapEx)		 0.23 0.83 0.03 2.44 0.31 0.16 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -5.36 -3.39 -3.54 -13 -2.10 -7.20 -17 18 5.31 18
Debt-free Net Working Capital (DFNWC)		 0.00 4.95 84 112 69 125 139 92 94 58 58
Net Working Capital (NWC)		 0.00 4.95 84 112 69 125 139 92 94 58 58
Net Nonoperating Expense (NNE)		 3.82 9.39 11 12 17 23 28 17 -3.52 17 -2.44
Net Nonoperating Obligations (NNO)		 0.00 45 -87 -115 -82 -127 -146 -109 -76 -53 -40
Total Depreciation and Amortization (D&A)		 0.01 0.28 0.36 -0.26 0.00 0.73 0.90 0.88 0.37 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -1,600.30% -171.10% -89.31% -72.37% -22.55% -39.44% -32.12% 17.08% 11.07% 27.17%
Debt-free Net Working Capital to Revenue		 0.00% 1,478.81% 4,239.62% 2,821.51% 374.26% 1,337.64% 762.50% 171.79% 90.63% 121.31% 87.45%
Net Working Capital to Revenue		 0.00% 1,478.81% 4,239.62% 2,821.51% 374.26% 1,337.64% 762.50% 171.79% 90.63% 121.31% 87.45%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($53.11) ($95.87) ($17.82) ($2.60) ($3.35) ($3.52) ($2.91) ($1.23) $0.43 ($1.27) $0.15
Adjusted Weighted Average Basic Shares Outstanding		 252.81K 312.17K 14.37M 17.22M 20.33M 29.50M 32.76M 37.59M 52.70M 54.04M 56.02M
Adjusted Diluted Earnings per Share		 ($53.11) ($95.87) ($17.82) ($2.60) ($3.35) ($3.52) ($2.91) ($1.23) $0.43 ($1.27) $0.15
Adjusted Weighted Average Diluted Shares Outstanding		 252.81K 312.17K 14.37M 17.22M 20.33M 29.50M 32.76M 37.59M 52.99M 54.04M 59.04M
Adjusted Basic & Diluted Earnings per Share		 ($53.11) ($95.87) ($17.82) ($2.60) ($3.35) ($3.52) ($2.91) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 252.81K 312.17K 2.59M 16.00M 18.16M 22.39M 30.90M 52.57M 53.87M 55.90M 57.89M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.33 -23 -29 -30 -44 -55 -62 -21 24 -51 6.95
Normalized NOPAT Margin		 0.00% -6,941.70% -1,476.05% -755.53% -240.89% -593.56% -337.31% -39.16% 23.17% -105.76% 10.40%
Pre Tax Income Margin		 0.00% -9,743.58% -2,015.46% -1,050.48% -332.87% -839.01% -491.65% -87.93% 24.48% -142.91% 13.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -45.44 -6.68 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -31.74 -4.78 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -45.44 -6.68 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -31.74 -4.78 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% -2.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -11.91% -3.15% -0.26% -1.22% -0.28% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Spero Therapeutics

This table displays calculated financial ratios and metrics derived from Spero Therapeutics' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 52,999,317.00 53,869,139.00 53,986,639.00 54,049,139.00 54,518,165.00 55,900,641.00 55,910,641.00 56,275,225.00 56,339,295.00 57,891,493.00 57,901,493.00
DEI Adjusted Shares Outstanding		 52,999,317.00 53,869,139.00 53,986,639.00 54,049,139.00 54,518,165.00 55,900,641.00 55,910,641.00 56,275,225.00 56,339,295.00 57,891,493.00 57,901,493.00
DEI Earnings Per Adjusted Shares Outstanding		 0.97 -0.24 -0.33 -0.33 -0.37 -0.25 -0.03 -0.13 0.56 -0.12 -0.17
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 54.98% 347.90% 275.44% -47.12% -79.54% -36.61% 39.15% -59.60% 174.51% -95.61% -100.00%
EBITDA Growth		 69.91% 0.85% -49.03% -914.11% -142.76% -5.24% 87.20% 57.50% 245.22% 48.82% -306.93%
EBIT Growth		 70.52% 1.64% -47.80% -857.77% -142.79% -5.24% 87.20% 57.50% 245.22% 48.82% -306.93%
NOPAT Growth		 93.46% 1.72% -47.87% -861.38% -130.32% -5.36% 87.18% 57.42% 306.51% 48.83% -306.14%
Net Income Growth		 91.22% 4.50% -49.92% -435.01% -140.80% -9.45% 90.48% 56.95% 250.90% 48.05% -461.88%
EPS Growth		 -1.02% 4.00% -43.48% -433.33% -139.18% -4.17% 90.91% 59.38% 247.37% 48.00% -433.33%
Operating Cash Flow Growth		 -139.33% 146.20% -0.97% -19.81% -33.77% -167.40% 5.61% 36.50% 64.31% 496.40% 69.73%
Free Cash Flow Firm Growth		 -1,422.82% -45.11% -1,294.45% -302.90% 263.62% 134.06% 125.68% 113.74% -73.92% -191.84% -91.47%
Invested Capital Growth		 192.66% 144.74% 174.44% 73.11% -122.08% -207.54% -90.39% -105.40% 378.55% 79.41% -496.51%
Revenue Q/Q Growth		 188.63% -87.40% 10.04% 32.09% 11.69% -60.95% 141.56% -61.65% 658.86% -99.38% -100.00%
EBITDA Q/Q Growth		 2,854.58% -127.67% -36.17% 2.30% -16.15% 31.89% 83.44% -224.34% 496.83% -124.01% -31.70%
EBIT Q/Q Growth		 2,699.59% -127.70% -36.18% 2.31% -16.15% 31.89% 83.44% -224.34% 496.83% -124.01% -31.70%
NOPAT Q/Q Growth		 3,804.60% -119.52% -36.33% 2.46% -16.85% 32.19% 83.41% -223.90% 666.75% -116.80% -31.68%
Net Income Q/Q Growth		 1,697.22% -124.75% -40.99% 4.00% -21.82% 33.62% 87.74% -334.24% 526.98% -122.85% -32.61%
EPS Q/Q Growth		 1,716.67% -124.74% -37.50% 3.03% -18.75% 34.21% 88.00% -333.33% 530.77% -123.21% -23.08%
Operating Cash Flow Q/Q Growth		 -209.92% 133.95% -415.66% 168.09% -283.35% 82.90% -342.10% 198.47% -147.93% 289.97% -133.76%
Free Cash Flow Firm Q/Q Growth		 -165.10% -306.22% 3.55% 20.45% 152.49% -15.44% -27.29% -57.44% -0.32% -397.75% 106.75%
Invested Capital Q/Q Growth		 176.51% -54.27% 21.28% -163.36% 37.18% -122.78% 110.84% -1,453.86% 185.20% -116.47% -108.73%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00%
EBITDA Margin		 68.79% -151.03% -186.90% -138.24% -143.75% -250.77% -17.20% -145.42% 76.05% -2,922.09% 0.00%
Operating Margin		 68.73% -150.88% -186.93% -138.04% -144.41% -250.78% -17.22% -145.46% 76.05% -2,921.71% 0.00%
EBIT Margin		 68.74% -151.03% -186.92% -138.24% -143.75% -250.77% -17.20% -145.42% 76.05% -2,922.09% 0.00%
Profit (Net Income) Margin		 69.63% -136.71% -175.17% -127.31% -138.85% -236.06% -11.98% -135.65% 76.33% -2,791.86% 0.00%
Tax Burden Percent		 99.25% 100.00% 100.00% 98.34% 101.41% 100.00% 100.00% 100.00% 99.18% 100.00% 100.00%
Interest Burden Percent		 102.06% 90.52% 93.71% 93.65% 95.25% 94.13% 69.67% 93.28% 101.20% 95.54% 96.20%
Effective Tax Rate		 0.75% 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% -406.15% 0.00% -62.87% 0.00% 841.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% -397.35% 0.00% -62.89% 0.00% 840.75% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 335.34% 0.00% 52.55% 0.00% -744.15% 0.00% 0.00%
Return on Equity (ROE)		 24.95% 29.06% 25.81% 5.89% -70.81% -107.28% -10.32% -95.29% 96.85% 35.12% 19.17%
Cash Return on Invested Capital (CROIC)		 -145.00% -184.01% -142.83% 0.00% 0.00% 0.00% -267.08% 0.00% -103.39% 0.00% 0.00%
Operating Return on Assets (OROA)		 46.44% -119.62% -178.02% -121.49% -47.09% -91.11% -7.88% -62.29% 56.61% -2,615.24% 0.00%
Return on Assets (ROA)		 47.04% -108.28% -166.83% -111.88% -45.48% -85.77% -5.49% -58.10% 56.82% -2,498.69% 0.00%
Return on Common Equity (ROCE)		 24.95% 29.06% 25.81% 5.89% -70.81% -107.28% -10.32% -95.29% 96.85% 35.12% 19.17%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 24.32% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 50 -9.79 -13 -13 -15 -10 -1.71 -5.54 31 -5.28 -6.95
NOPAT Margin		 68.21% -105.62% -130.85% -96.63% -101.09% -175.55% -12.06% -101.82% 76.05% -2,045.19% 0.00%
Net Nonoperating Expense Percent (NNEP)		 1.12% -3.23% -6.40% -4.86% -8.80% -5.42% 0.02% -2.95% 0.25% -3.67% -6.36%
Return On Investment Capital (ROIC_SIMPLE)		 46.88% -10.16% -16.57% -19.86% -32.97% -30.50% -5.21% -20.91% 53.13% -9.95% -15.69%
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		 8.75% 63.85% 54.26% 38.59% 46.90% 116.17% 41.43% 76.70% 10.41% 1,894.19% 0.00%
R&D to Revenue		 22.52% 187.03% 232.67% 199.45% 191.68% 231.63% 75.21% 157.98% 13.54% 1,127.52% 0.00%
Operating Expenses to Revenue		 31.27% 250.88% 286.93% 238.04% 244.41% 350.78% 117.22% 245.46% 23.95% 3,021.71% 0.00%
Earnings before Interest and Taxes (EBIT)		 51 -14 -19 -19 -22 -15 -2.44 -7.91 31 -7.54 -9.93
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 51 -14 -19 -19 -22 -15 -2.44 -7.91 31 -7.54 -9.93
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.73 0.96 0.87 1.11 1.22 1.19 4.94 3.99 2.22 2.56 2.89
Price to Tangible Book Value (P/TBV)		 0.73 0.96 0.87 1.11 1.22 1.19 4.94 3.99 2.22 2.56 2.89
Price to Revenue (P/Rev)		 0.75 0.83 0.59 0.68 1.17 0.90 3.34 2.61 1.97 2.21 2.72
Price to Earnings (P/E)		 3.42 3.96 4.02 24.69 0.00 0.00 0.00 0.00 15.31 8.89 17.33
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		 29.27% 25.26% 24.87% 4.05% 0.00% 0.00% 0.00% 0.00% 6.53% 11.25% 5.77%
Enterprise Value to Invested Capital (EV/IC)		 0.05 0.74 0.39 0.00 0.00 0.00 80.14 0.00 4.83 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.02 0.09 0.06 0.00 0.07 0.00 2.70 1.41 1.36 1.30 1.64
Enterprise Value to EBITDA (EV/EBITDA)		 0.08 0.47 0.43 0.00 0.00 0.00 0.00 0.00 14.41 5.88 12.83
Enterprise Value to EBIT (EV/EBIT)		 0.08 0.48 0.43 0.00 0.00 0.00 0.00 0.00 14.41 5.88 12.83
Enterprise Value to NOPAT (EV/NOPAT)		 0.09 0.53 0.43 0.00 0.00 0.00 0.00 0.00 14.87 5.98 12.83
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 10.97 3.95
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 60.61 5.47
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.01 -1.11 -1.04 -1.43 -0.84 -1.01 -0.84 -1.36 -0.89 -1.21 -1.06
Leverage Ratio		 1.68 1.74 1.84 2.03 1.91 1.89 1.87 2.06 1.71 1.58 1.49
Compound Leverage Factor		 1.71 1.57 1.72 1.90 1.82 1.78 1.30 1.92 1.73 1.51 1.43
Debt to Total Capital		 0.08% 0.04% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.15% 0.17% 0.21%
Short-Term Debt 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%
Long-Term Debt to Total Capital		 0.08% 0.04% 0.03% 0.02% 0.00% 0.00% 0.00% 0.00% 0.15% 0.17% 0.21%
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		 99.92% 99.96% 99.97% 99.98% 100.00% 100.00% 100.00% 100.00% 99.85% 99.83% 99.79%
Debt to EBITDA		 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02
Net Debt to EBITDA		 -3.49 -3.75 -4.05 69.41 0.00 0.00 0.00 0.00 -6.36 -4.15 -8.41
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02
Debt to NOPAT		 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02
Net Debt to NOPAT		 -3.95 -4.21 -4.08 69.09 0.00 0.00 0.00 0.00 -6.56 -4.22 -8.41
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02
Altman Z-Score		 -0.28 -1.50 -2.35 -2.85 -4.88 -7.33 -5.88 -9.06 2.28 4.16 -2.19
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		 3.53 3.35 2.68 2.68 2.19 2.56 3.97 3.83 7.59 10.50 6.12
Quick Ratio		 2.10 2.09 1.50 1.61 1.14 1.70 2.25 3.68 4.54 10.23 6.02
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 -55 -53 -42 22 19 14 5.81 5.79 -17 1.16
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% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.68 0.79 0.95 0.88 0.33 0.36 0.46 0.43 0.74 0.90 0.82
Accounts Receivable Turnover		 78.95 32.25 34.73 37.45 20.72 15.68 13.50 18.92 42.92 171.87 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		 560.98 860.30 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)		 4.62 11.32 10.51 9.75 17.61 23.27 27.03 19.29 8.50 2.12 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)		 4.62 11.32 10.51 9.75 17.61 23.27 27.03 19.29 8.50 2.12 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31 14 17 -11 -6.77 -15 1.63 -22 19 -3.10 -6.48
Invested Capital Turnover		 -85.45 -12.82 -40.58 -4.19 4.02 -84.36 5.21 -2.47 11.06 -6.73 -19.40
Increase / (Decrease) in Invested Capital		 64 45 40 29 -37 -29 -15 -11 26 12 -8.11
Enterprise Value (EV)		 1.66 10 6.68 -3.85 3.26 -8.64 131 57 91 79 77
Market Capitalization		 78 93 70 72 56 40 162 106 131 135 128
Book Value per Share		 $2.02 $1.79 $1.49 $1.21 $0.85 $0.60 $0.59 $0.47 $1.05 $0.91 $0.76
Tangible Book Value per Share		 $2.02 $1.79 $1.49 $1.21 $0.85 $0.60 $0.59 $0.47 $1.05 $0.91 $0.76
Total Capital		 107 96 81 66 46 34 33 26 59 53 44
Total Debt		 0.09 0.04 0.03 0.01 0.00 0.00 0.00 0.00 0.09 0.09 0.09
Total Long-Term Debt		 0.09 0.04 0.03 0.01 0.00 0.00 0.00 0.00 0.09 0.09 0.09
Net Debt		 -76 -82 -64 -76 -53 -49 -31 -49 -40 -56 -51
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 18 16 13 6.24 5.31 -3.33 13 -9.94 18 -4.01 -7.62
Debt-free Net Working Capital (DFNWC)		 94 98 77 83 58 46 44 39 58 52 43
Net Working Capital (NWC)		 94 98 77 83 58 46 44 39 58 52 43
Net Nonoperating Expense (NNE)		 -1.04 2.88 4.52 4.13 5.68 3.55 -0.01 1.84 -0.12 1.93 2.60
Net Nonoperating Obligations (NNO)		 -76 -82 -64 -76 -53 -49 -31 -49 -40 -56 -51
Total Depreciation and Amortization (D&A)		 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 17.08% 14.47% 11.02% 5.86% 11.07% -7.46% 27.30% -24.52% 27.17% -6.55% -16.21%
Debt-free Net Working Capital to Revenue		 90.63% 88.61% 64.65% 77.53% 121.31% 102.19% 91.52% 95.38% 87.45% 85.19% 91.83%
Net Working Capital to Revenue		 90.63% 88.61% 64.65% 77.53% 121.31% 102.19% 91.52% 95.38% 87.45% 85.19% 91.83%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.97 ($0.24) ($0.33) ($0.32) ($0.38) ($0.25) ($0.03) ($0.13) $0.56 ($0.13) ($0.16)
Adjusted Weighted Average Basic Shares Outstanding		 52.70M 53.52M 53.96M 54.12M 54.04M 55.38M 56.03M 56.28M 56.02M 57.28M 57.97M
Adjusted Diluted Earnings per Share		 $0.97 ($0.24) ($0.33) ($0.32) ($0.38) ($0.25) ($0.03) ($0.13) $0.56 ($0.13) ($0.16)
Adjusted Weighted Average Diluted Shares Outstanding		 52.99M 53.52M 53.96M 54.12M 54.04M 55.38M 56.03M 56.28M 59.04M 57.28M 57.97M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 53.87M 53.99M 54.05M 54.52M 55.90M 55.91M 56.28M 56.34M 57.89M 57.90M 58.23M
Normalized Net Operating Profit after Tax (NOPAT)		 50 -9.79 -13 -13 -15 -10 -1.65 -5.13 22 -5.28 -6.95
Normalized NOPAT Margin		 68.21% -105.62% -130.85% -96.63% -97.01% -173.46% -11.65% -94.27% 53.23% -2,045.19% 0.00%
Pre Tax Income Margin		 70.15% -136.71% -175.17% -129.46% -136.92% -236.06% -11.98% -135.65% 76.96% -2,791.86% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Spero Therapeutics (NASDAQ: SPRO) shows a mixed but improving financial picture in the most recent quarter, with a much stronger cash balance and solid operating cash generation in Q1 2026, but the company remains loss-making and heavily dependent on periodic revenue swings.

For the quarter ended March 31, 2026, Spero reported just $258,000 in revenue and a net loss of $7.2 million, compared with revenue of $41.3 million and net income of $31.5 million in Q4 2025. That sharp quarter-to-quarter drop is not unusual for a biotech company with lumpy revenue, but it highlights how volatile the business can be.

On the positive side, the balance sheet improved materially in Q1 2026. Cash and equivalents rose to $56.1 million from $48.6 million in Q3 2025, and total current liabilities dropped to $5.5 million from $13.6 million in the prior quarter. Total equity also increased to $52.9 million from $26.5 million in Q3 2025, reflecting a cleaner near-term financial position.

Cash flow was also encouraging in Q1 2026. The company generated $15.9 million in operating cash flow, a meaningful improvement from the $8.4 million operating cash outflow in Q4 2025. That suggests working-capital movements provided a boost, even though the business is still reporting operating losses.

Looking at the longer trend, Spero’s revenue has been extremely uneven over the past year:

  • Q4 2025 revenue of $41.3 million was a major spike versus prior quarters.
  • Q3 2025 revenue of $5.4 million and Q2 2025 revenue of $14.2 million show a highly volatile top line.
  • Q1 2024 revenue of $9.3 million and Q4 2023 revenue of $73.5 million show that this business can produce large but inconsistent revenue periods.

Expense control remains a key issue. In Q1 2026, SG&A was $4.9 million and R&D was $2.9 million, keeping total operating expenses at $7.8 million. That is lower than several prior quarters, but still far above revenue, leading to an operating loss of $7.5 million.

The company’s cash position appears sufficient for now, but the key investor question is whether it can convert its occasional revenue bursts into a more repeatable commercial model. The strong cash inflow in Q1 2026 helps, but Spero is still not consistently self-funding from operations over a full cycle.

  • Cash and equivalents increased to $56.1 million in Q1 2026.
  • Operating cash flow turned strongly positive at $15.9 million in Q1 2026.
  • Current liabilities fell sharply to $5.5 million in Q1 2026 from $13.6 million in Q3 2025.
  • Total equity improved to $52.9 million in Q1 2026.
  • Interest income helped offset losses, contributing $336,000 in Q1 2026.
  • Revenue remains highly irregular, with large quarter-to-quarter swings.
  • Share count has been fairly stable recently, with no obvious large dilution in the latest quarter.
  • Q1 2026 revenue was only $258,000, far below operating expenses.
  • The company posted a $7.2 million net loss in Q1 2026.
  • Profitability has not been sustained, despite a profitable Q4 2025.

Bottom line: Spero Therapeutics enters 2026 with a healthier cash and liability profile than it had a few quarters ago, and Q1 2026 operating cash flow was a bright spot. But the business is still defined by uneven revenue and recurring losses, so investors should watch closely for evidence of durable commercial traction rather than one-time quarterly improvements.

08/24/26 01:53 AM ETAI Generated. May Contain Errors.

Spero Therapeutics Financials - Frequently Asked Questions

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

Spero Therapeutics' net income appears to be on a downward trend, with a most recent value of $8.57 million in 2025, falling from -$13.15 million in 2015. The previous period was -$68.57 million in 2024. See where experts think Spero Therapeutics is headed by visiting Spero Therapeutics' forecast page.

Spero Therapeutics' total operating income in 2025 was $6.31 million, based on the following breakdown:
  • Total Gross Profit: $66.80 million
  • Total Operating Expenses: $60.49 million

Over the last 10 years, Spero Therapeutics' total revenue changed from $0.00 in 2015 to $66.80 million in 2025, a change of 6,680,200,000.0%.

Spero Therapeutics' total liabilities were at $9.90 million at the end of 2025, a 84.6% decrease from 2024, and a 62.0% increase since 2014.

In the past 10 years, Spero Therapeutics' cash and equivalents has ranged from $4.81 million in 2014 to $112.58 million in 2021, and is currently $40.27 million as of their latest financial filing in 2025.

Over the last 10 years, Spero Therapeutics' book value per share changed from 0.00 in 2015 to 1.05 in 2025, a change of 104.8%.


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Financial statements for NASDAQ:SPRO last updated on 8/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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