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Surrozen (SRZNW) Financials

$0.0093 0.00 (-5.76%)
As of 07/10/2026 03:50 PM Eastern
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Annual Income Statements for Surrozen

Annual Income Statements for Surrozen

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 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		 -33 -55 -36 -43 -64 -242
Consolidated Net Income / (Loss)		 -33 -55 -36 -43 -64 -242
Net Income / (Loss) Continuing Operations		 -33 -55 -36 -43 -64 -139
Total Pre-Tax Income 		-33 -55 -36 -43 -44 -139
Total Operating Income		 -33 -54 -44 -46 -26 -42
Total Gross Profit		 0.00 0.00 13 0.00 11 3.48
Total Revenue		 0.00 0.00 13 0.00 11 3.48
Operating Revenue		 - - 13 0.00 11 3.48
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 33 54 57 46 36 46
Selling, General & Admin Expense		 7.12 14 20 16 15 16
Research & Development Expense		 26 40 37 27 21 29
Total Other Income / (Expense), net		 0.09 -0.26 8.34 2.34 -19 -96
Interest & Investment Income		 0.09 0.07 0.78 2.34 1.69 3.02
Other Income / (Expense), net		 0.00 -0.33 7.55 0.00 -20 -99
Other Adjustments to Consolidated Net Income / (Loss)		 - - - - - -103
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - - 0.00
Basic Earnings per Share		 ($2.05) ($2.21) ($15.56) ($21.33) ($21.67) ($32.37)
Weighted Average Basic Shares Outstanding		 15.97M 24.69M 2.31M 2.02M 2.93M 7.48M
Diluted Earnings per Share		 ($2.05) ($2.21) ($15.56) ($21.33) ($21.67) ($32.37)
Weighted Average Diluted Shares Outstanding		 15.97M 24.69M 2.31M 2.02M 2.93M 7.48M
Weighted Average Basic & Diluted Shares Outstanding		 15.97M 24.69M 30.08M - 3.28M 11.49M

Quarterly Income Statements for Surrozen

This table shows Surrozen's 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		 -10 -8.91 -8.83 -51 -1.43 -2.78 -27 40 -72 -183 -128
Consolidated Net Income / (Loss)		 -10 -8.91 -8.83 -4.86 -1.43 -48 -27 40 -72 -183 -128
Net Income / (Loss) Continuing Operations		 -10 -8.91 -8.83 -4.86 -1.43 -48 -44 8.23 -72 -31 -51
Total Pre-Tax Income 		-10 -9.31 -8.83 -4.86 -1.43 -29 -44 8.23 -72 -31 -51
Total Operating Income		 -11 -9.72 -9.13 -9.05 1.23 -8.59 -9.55 -9.02 -11 -13 -10
Total Gross Profit		 0.00 - 0.00 0.00 10 0.66 0.98 0.98 0.98 0.53 5.00
Total Revenue		 0.00 - 0.00 0.00 10 0.66 0.98 0.98 0.98 0.53 5.00
Operating Revenue		 0.00 - 0.00 0.00 10 0.66 0.98 0.98 0.98 0.53 5.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 11 9.72 9.13 9.05 8.77 9.25 11 10 12 13 15
Selling, General & Admin Expense		 3.57 3.59 3.88 3.71 3.57 3.90 3.98 3.96 4.09 4.18 6.13
Research & Development Expense		 6.11 6.10 5.25 5.34 5.20 5.35 6.56 6.04 7.77 8.99 9.33
Total Other Income / (Expense), net		 0.74 0.41 0.30 4.19 -2.67 -21 -35 17 -61 -18 -40
Interest & Investment Income		 0.66 0.51 0.39 0.49 0.43 0.39 0.30 1.03 0.91 0.79 0.91
Other Income / (Expense), net		 0.08 -0.10 -0.09 3.70 -3.10 -21 -35 16 -62 -19 -41
Other Adjustments to Consolidated Net Income / (Loss)		 - - 0.00 - 0.00 - 17 32 0.00 -152 -77
Basic Earnings per Share		 ($5.14) ($4.42) ($4.24) ($7.99) ($0.44) ($0.95) ($7.43) $2.55 ($8.36) ($24.49) ($11.65)
Weighted Average Basic Shares Outstanding		 2.03M 2.02M 2.08M 3.16K 3.23M 2.93M 3.63M 8.54K 8.57M 7.48M 10.95M
Diluted Earnings per Share		 ($5.14) ($4.42) ($4.24) ($7.99) ($0.44) ($0.95) ($7.43) $2.55 ($8.36) ($24.49) ($11.65)
Weighted Average Diluted Shares Outstanding		 2.03M 2.02M 2.08M 3.16K 3.23M 2.93M 3.63M 8.54K 8.57M 7.48M 10.95M
Weighted Average Basic & Diluted Shares Outstanding		 30.58M 0.00 3.20M 3.21M 3.25M 3.28M 8.56M 8.57M 8.57M 11.49M 11.61M

Annual Cash Flow Statements for Surrozen

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.88 -1.89 -8.40 12 -1.48 55
Net Cash From Operating Activities		 -29 -49 -44 -40 -18 -30
Net Cash From Continuing Operating Activities		 -29 -49 -44 -40 -18 -30
Net Income / (Loss) Continuing Operations		 -33 -55 -36 -43 -64 -242
Consolidated Net Income / (Loss)		 -33 -55 -36 -43 -64 -242
Depreciation Expense		 1.94 2.07 1.96 1.91 1.44 0.54
Non-Cash Adjustments To Reconcile Net Income		 1.63 3.89 -1.79 5.43 45 103
Changes in Operating Assets and Liabilities, net		 0.05 -0.22 -8.42 -3.93 -0.84 108
Net Cash From Investing Activities		 -15 -78 38 52 -0.03 -0.13
Net Cash From Continuing Investing Activities		 -15 -78 38 52 -0.03 -0.13
Purchase of Property, Plant & Equipment		 -0.87 -1.27 -0.73 -0.40 -0.03 -0.13
Purchase of Investments		 -14 -92 -30 -28 0.00 0.00
Sale and/or Maturity of Investments		 0.00 15 69 80 0.00 0.00
Net Cash From Financing Activities		 50 125 -2.57 0.28 16 85
Net Cash From Continuing Financing Activities		 50 125 -2.57 0.28 16 85
Issuance of Common Equity		 0.00 125 0.14 0.33 16 84
Other Financing Activities, net		 0.17 - 0.00 -0.00 0.04 1.07

Quarterly Cash Flow Statements for Surrozen

This table details how cash moves in and out of Surrozen's 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		 -2.50 2.33 -8.75 10 -6.75 3.55 67 -11 -9.06 7.91 18
Net Cash From Operating Activities		 -10 -7.31 -8.75 -5.61 -6.75 3.48 -9.28 -6.11 -9.04 -5.81 -12
Net Cash From Continuing Operating Activities		 -10 -7.31 -8.75 -5.61 -6.75 3.48 -9.28 -6.11 -9.04 -5.81 -12
Net Income / (Loss) Continuing Operations		 -10 -8.91 -8.83 -25 -1.43 -28 -27 40 -72 -183 -128
Consolidated Net Income / (Loss)		 -10 -8.91 -8.83 -25 -1.43 -28 -27 40 -72 -183 -128
Depreciation Expense		 0.48 0.45 0.39 0.39 0.34 0.32 0.29 0.14 0.06 0.05 0.07
Non-Cash Adjustments To Reconcile Net Income		 1.15 1.38 1.12 19 4.50 21 35 -47 63 68 121
Changes in Operating Assets and Liabilities, net		 -1.12 -0.18 -1.78 0.94 -10 10 -18 0.53 -0.36 109 -5.58
Net Cash From Investing Activities		 7.65 9.50 -0.01 - - -0.02 -0.03 -0.02 -0.02 -0.06 -0.12
Net Cash From Continuing Investing Activities		 7.65 9.50 -0.01 - - -0.02 -0.03 -0.02 -0.02 -0.06 -0.12
Purchase of Property, Plant & Equipment		 - - -0.01 - - -0.02 -0.03 -0.02 -0.02 -0.06 -0.12
Net Cash From Financing Activities		 -0.01 0.14 0.00 16 -0.00 0.09 76 -5.12 0.01 14 30
Net Cash From Continuing Financing Activities		 -0.01 0.14 0.00 16 -0.00 0.09 76 -5.12 0.01 14 30
Issuance of Common Equity		 - 0.15 0.00 16 -0.00 0.05 76 -5.12 - 13 27
Other Financing Activities, net		 - -0.00 - - - 0.04 0.00 - - 1.07 3.42

Annual Balance Sheets for Surrozen

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 62 137 89 46 48 99
Total Current Assets		 50 105 81 41 39 92
Cash & Equivalents		 35 33 25 36 35 89
Accounts Receivable		 - 0.00 1.98 2.15 2.54 0.21
Prepaid Expenses		 1.04 3.34 3.49 2.94 1.83 2.11
Plant, Property, & Equipment, net		 5.84 4.79 3.63 1.97 0.56 0.43
Total Noncurrent Assets		 6.00 27 4.10 2.98 8.97 6.73
Other Noncurrent Operating Assets		 6.00 5.54 4.10 2.98 8.97 6.73
Total Liabilities & Shareholders' Equity		 62 137 89 46 48 99
Total Liabilities		 15 27 13 8.15 70 286
Total Current Liabilities		 7.28 14 9.73 7.15 7.32 9.93
Accounts Payable		 1.78 2.72 0.66 0.53 0.31 0.73
Accrued Expenses		 3.39 8.66 6.85 4.13 5.18 7.91
Other Current Liabilities		 2.11 2.19 2.23 2.50 1.83 1.29
Total Noncurrent Liabilities		 7.49 14 3.70 1.00 63 277
Other Noncurrent Operating Liabilities		 7.49 14 0.33 1.00 63 277
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 47 110 76 38 -21 -188
Total Preferred & Common Equity		 47 110 76 38 -21 -188
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 47 110 76 38 -21 -188
Common Stock		 135 252 255 260 264 340
Retained Earnings		 -88 -143 -179 -222 -285 -527

Quarterly Balance Sheets for Surrozen

This table presents Surrozen's 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		 54 37 45 48 115 103 94 121
Total Current Assets		 48 32 42 45 106 94 86 114
Cash & Equivalents		 34 27 38 31 102 90 81 107
Accounts Receivable		 1.98 2.13 2.11 12 2.63 2.57 2.57 5.00
Prepaid Expenses		 2.95 2.60 1.76 2.08 1.73 1.28 1.96 2.04
Plant, Property, & Equipment, net		 2.48 1.58 1.20 0.86 0.30 0.18 0.14 0.49
Total Noncurrent Assets		 2.71 3.12 2.24 1.86 8.52 8.29 8.05 6.27
Other Noncurrent Operating Assets		 2.71 3.12 2.24 1.86 8.52 8.29 8.05 6.27
Total Liabilities & Shareholders' Equity		 54 37 45 48 115 103 94 121
Total Liabilities		 8.44 6.58 39 42 109 56 118 399
Total Current Liabilities		 6.67 6.18 5.98 6.12 11 5.74 6.53 9.57
Accounts Payable		 0.29 0.13 0.17 0.28 0.30 0.35 0.54 0.89
Accrued Expenses		 3.95 3.49 3.64 4.32 9.09 4.19 4.75 6.75
Other Current Liabilities		 2.43 2.56 2.17 1.53 1.19 1.20 1.24 1.93
Total Noncurrent Liabilities		 1.77 0.40 33 36 99 50 111 389
Other Noncurrent Operating Liabilities		 0.24 0.40 33 36 99 50 111 389
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 46 30 6.06 5.67 5.67 47 -24 -278
Total Preferred & Common Equity		 46 30 6.06 5.67 5.67 47 -24 -278
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 46 30 6.06 5.67 5.67 47 -24 -278
Common Stock		 258 261 262 263 318 320 321 377
Retained Earnings		 -213 -231 -256 -257 -312 -272 -344 -655

Annual Metrics And Ratios for Surrozen

This table displays calculated financial ratios and metrics derived from Surrozen's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 35,027,407.00 35,122,863.00 30,575,047.00 3,249,798.00 8,571,421.00
DEI Adjusted Shares Outstanding		 0.00 2,335,160.00 2,341,524.00 2,038,336.00 3,249,798.00 8,571,421.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -23.40 -15.38 -21.12 -19.56 -28.24
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% -100.00% 0.00% -67.37%
EBITDA Growth		 0.00% -70.23% 33.92% -28.45% 0.24% -216.95%
EBIT Growth		 0.00% -66.79% 32.78% -24.45% -0.34% -208.17%
NOPAT Growth		 0.00% -65.79% 18.48% -3.25% 44.21% -64.81%
Net Income Growth		 0.00% -67.04% 34.12% -19.55% -47.68% -280.76%
EPS Growth		 0.00% -7.80% 34.12% -37.08% -1.59% -49.38%
Operating Cash Flow Growth		 0.00% -67.75% 9.56% 8.57% 56.33% -71.57%
Free Cash Flow Firm Growth		 0.00% 0.00% -83.42% 35.79% 229.72% 379.48%
Invested Capital Growth		 0.00% -630.86% 122.70% -39.63% -3,056.92% -395.14%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -100.00% 6.55% -3.52%
EBITDA Q/Q Growth		 0.00% 0.00% 27.88% -23.48% -80.26% -1.63%
EBIT Q/Q Growth		 0.00% 0.00% 27.20% -23.03% -74.97% -1.42%
NOPAT Q/Q Growth		 0.00% 0.00% 22.44% -19.76% 4.24% -10.64%
Net Income Q/Q Growth		 0.00% 0.00% 28.25% -23.32% -164.40% -125.55%
EPS Q/Q Growth		 0.00% 0.00% 28.25% -24.23% -0.37% -350.21%
Operating Cash Flow Q/Q Growth		 0.00% -4.73% 20.44% -21.37% 37.97% -44.36%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -12.80% 304.64% 262.37%
Invested Capital Q/Q Growth		 0.00% 0.00% 18.35% -40.88% -120.73% -164.19%
Profitability Metrics		 - - - - - -
Gross Margin		 0.00% 0.00% 100.00% 0.00% 100.00% 100.00%
EBITDA Margin		 0.00% 0.00% -277.78% 0.00% -417.59% -4,055.91%
Operating Margin		 0.00% 0.00% -354.71% 0.00% -239.69% -1,210.58%
EBIT Margin		 0.00% 0.00% -294.28% 0.00% -431.12% -4,071.35%
Profit (Net Income) Margin		 0.00% 0.00% -288.03% 0.00% -596.57% -6,960.77%
Tax Burden Percent		 100.00% 100.00% 100.00% 99.08% 143.67% 174.70%
Interest Burden Percent		 99.72% 99.87% 97.88% 94.89% 96.31% 97.87%
Effective Tax Rate		 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%
ROIC Less NNEP Spread (ROIC-NNEP)		 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%
Return on Equity (ROE)		 -69.18% -69.62% -38.78% -75.55% -767.91% 231.45%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -1,530.86% -1,225.79% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% -32.47% 0.00% -97.17% -192.35%
Return on Assets (ROA)		 0.00% 0.00% -31.78% 0.00% -134.46% -328.86%
Return on Common Equity (ROCE)		 -69.17% -69.62% -38.78% -75.55% -767.91% 231.45%
Return on Equity Simple (ROE_SIMPLE)		 -69.18% -49.82% -47.37% -113.46% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -23 -38 -31 -32 -18 -29
NOPAT Margin		 0.00% 0.00% -248.30% 0.00% -167.78% -847.41%
Net Nonoperating Expense Percent (NNEP)		 -19.83% -19.20% -5.06% -20.19% -129.41% -343.37%
Return On Investment Capital (ROIC_SIMPLE)		 -48.56% -34.71% -39.10% -84.48% 83.62% 15.69%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 158.61% 0.00% 141.36% 466.03%
R&D to Revenue		 0.00% 0.00% 296.10% 0.00% 198.33% 844.55%
Operating Expenses to Revenue		 0.00% 0.00% 454.71% 0.00% 339.69% 1,310.58%
Earnings before Interest and Taxes (EBIT)		 -33 -55 -37 -46 -46 -142
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -31 -53 -35 -45 -44 -141
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 30.84 4.03 7.58 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 30.84 4.03 7.58 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 24.53 0.00 4.38 55.66
Price to Earnings (P/E)		 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%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 74.57 132.86 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 18.70 0.00 1.13 29.99
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.30 0.54
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.04 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.04 0.00 0.00 0.00
Financial Leverage		 -1.04 -1.10 -1.06 -0.96 -4.27 0.59
Leverage Ratio		 1.31 1.27 1.22 1.19 5.71 -0.70
Compound Leverage Factor		 1.31 1.27 1.19 1.13 5.50 -0.69
Debt to Total Capital		 0.00% 0.00% 4.25% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 4.25% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 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%
Common Equity to Total Capital		 100.00% 100.00% 95.75% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 -0.10 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 2.10 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 -0.10 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 -0.11 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 2.35 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 -0.11 0.00 0.00 0.00
Altman Z-Score		 0.00 71.92 10.64 12.04 -9.96 -10.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 6.90 7.75 8.35 5.75 5.32 9.22
Quick Ratio		 6.76 7.50 8.00 5.34 5.07 9.01
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -26 -48 -31 40 192
Operating Cash Flow to CapEx		 -3,329.41% -3,846.57% -6,063.87% -10,141.46% -67,800.00% -23,628.13%
Free Cash Flow to Firm to Interest Expense		 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
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.11 0.00 0.23 0.05
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 4.54 2.53
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 2.97 0.00 8.42 6.99
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 80.38 144.29
Days Inventory Outstanding (DIO)		 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
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 80.38 144.29
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -1.89 -14 3.13 1.89 -56 -277
Invested Capital Turnover		 0.00 0.00 -2.34 0.00 -0.39 -0.02
Increase / (Decrease) in Invested Capital		 0.00 -12 17 -1.24 -58 -221
Enterprise Value (EV)		 0.00 3,260 234 251 12 104
Market Capitalization		 0.00 3,384 307 287 47 194
Book Value per Share		 $2.96 $3.13 $2.16 $1.24 ($6.58) ($21.91)
Tangible Book Value per Share		 $2.96 $3.13 $2.16 $1.24 ($6.58) ($21.91)
Total Capital		 47 110 79 38 -21 -188
Total Debt		 0.00 0.00 3.38 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 3.38 0.00 0.00 0.00
Net Debt		 -49 -124 -73 -36 -35 -89
Capital Expenditures (CapEx)		 0.87 1.27 0.73 0.40 0.03 0.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.24 -10 -4.67 -2.06 -2.95 -7.62
Debt-free Net Working Capital (DFNWC)		 43 92 72 34 32 82
Net Working Capital (NWC)		 43 92 72 34 32 82
Net Nonoperating Expense (NNE)		 9.75 17 4.97 11 46 213
Net Nonoperating Obligations (NNO)		 -49 -124 -73 -36 -35 -89
Total Depreciation and Amortization (D&A)		 1.94 2.17 2.06 1.18 1.44 0.54
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -37.36% 0.00% -27.67% -219.04%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 572.58% 0.00% 296.73% 2,347.68%
Net Working Capital to Revenue		 0.00% 0.00% 572.58% 0.00% 296.73% 2,347.68%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($33.15) ($15.60) ($21.33) ($21.67) ($32.37)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 2.34M 2.31M 2.02M 2.93M 7.48M
Adjusted Diluted Earnings per Share		 $0.00 ($33.15) ($15.60) ($21.33) ($21.67) ($32.37)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 2.34M 2.31M 2.02M 2.93M 7.48M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($33.15) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 1.65M 2.01M 0.00 3.28M 11.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -23 -38 -31 -30 -18 -29
Normalized NOPAT Margin		 0.00% 0.00% -248.30% 0.00% -167.78% -847.41%
Pre Tax Income Margin		 0.00% 0.00% -288.03% 0.00% -415.23% -3,984.50%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 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
EBIT Less CapEx to Interest Expense		 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
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -7.48% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Surrozen

This table displays calculated financial ratios and metrics derived from Surrozen's 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		 30,575,450.00 30,575,047.00 30,575,047.00 3,198,786.00 3,205,852.00 3,249,798.00 3,281,169.00 8,562,584.00 8,570,355.00 8,571,421.00 11,486,707.00
DEI Adjusted Shares Outstanding		 2,038,363.00 2,038,336.00 2,038,336.00 3,198,786.00 3,205,852.00 3,249,798.00 3,281,169.00 8,562,584.00 8,570,355.00 8,571,421.00 11,486,707.00
DEI Earnings Per Adjusted Shares Outstanding		 -5.12 -4.37 -4.33 -15.79 -0.45 -0.85 -8.22 4.64 -8.36 -21.37 -11.10
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -90.17% -19.39% 408.65%
EBITDA Growth		 17.00% -908.90% 42.03% 49.07% 85.94% -210.00% -424.79% 247.71% -4,659.88% -7.75% -15.91%
EBIT Growth		 18.07% -686.23% 37.92% 46.51% 83.21% -200.43% -385.33% 234.50% -3,790.29% -6.72% -15.29%
NOPAT Growth		 17.76% -348.32% 37.43% 11.93% 111.01% 11.64% -4.61% -42.35% -983.52% -47.10% -9.48%
Net Income Growth		 21.80% -1,050.06% 38.24% 48.18% 86.27% -443.43% -205.44% 917.15% -4,896.03% -278.15% -372.77%
EPS Growth		 21.80% -1,239.39% 40.78% -70.73% 91.44% 78.51% -75.24% 131.91% -1,800.00% -2,477.89% -56.80%
Operating Cash Flow Growth		 28.40% -3,466.34% 38.28% 35.87% 33.37% 147.61% -6.09% -8.95% -33.89% -266.96% -34.66%
Free Cash Flow Firm Growth		 64.86% 69.85% 39.52% 403.46% 450.74% 1,031.26% 1,259.47% -91.12% 144.45% 309.50% 205.83%
Invested Capital Growth		 20.85% -39.63% 120.45% -1,026.45% -892.03% -3,056.92% -3,472.14% -36.50% -313.69% -395.14% -301.22%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -93.45% 50.08% 0.00% 0.00% -46.29% 846.97%
EBITDA Q/Q Growth		 -11.04% 13.09% 10.06% 41.32% 69.34% -1,815.96% -52.26% 116.52% -1,087.91% 56.63% -63.79%
EBIT Q/Q Growth		 -10.95% 11.58% 6.16% 41.90% 65.17% -1,481.88% -51.59% 116.10% -1,107.55% 56.60% -63.77%
NOPAT Q/Q Growth		 -8.90% 13.09% 6.11% 0.89% 113.61% -797.40% -11.16% -34.87% 15.50% -16.11% 17.27%
Net Income Q/Q Growth		 -11.27% 14.67% 0.93% 44.92% 70.52% -3,277.68% 44.32% 247.37% -280.25% -155.66% 30.39%
EPS Q/Q Growth		 -11.27% 14.01% 4.07% -88.44% 94.49% -115.91% -682.11% 134.32% -427.84% -192.94% 52.43%
Operating Cash Flow Q/Q Growth		 -15.82% 27.85% -19.63% 35.85% -20.34% 151.56% -366.56% 34.12% -47.88% 35.71% -114.99%
Free Cash Flow Firm Q/Q Growth		 11.63% 33.63% -42.79% 462.33% 2.14% 76.22% 77.78% -97.23% 2,712.42% 195.21% 32.77%
Invested Capital Q/Q Growth		 -6.49% -40.88% 50.42% -1,213.95% 20.05% -120.73% -71.55% 54.91% -142.28% -164.19% -39.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% -15.23% -4,454.96% -4,519.74% 746.49% -7,374.67% -5,954.55% -1,029.94%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 12.32% -1,311.76% -971.62% -917.29% -1,107.32% -2,393.75% -209.12%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% -18.65% -4,504.12% -4,549.64% 732.55% -7,380.87% -5,963.07% -1,031.24%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% -14.34% -7,394.81% -2,743.64% 4,043.34% -7,288.20% -34,689.20% -2,550.10%
Tax Burden Percent		 100.00% 95.73% 100.00% 100.00% 100.00% 166.36% 60.71% 483.18% 100.00% 596.67% 251.74%
Interest Burden Percent		 94.05% 94.82% 95.82% 90.85% 76.89% 98.69% 99.34% 114.23% 98.74% 97.50% 98.23%
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)		 0.00% -75.55% -80.66% -108.15% -93.91% -767.91% -456.32% -139.51% 1,202.41% 231.45% 251.45%
Cash Return on Invested Capital (CROIC)		 -933.98% -1,225.79% -1,439.57% 0.00% 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% -3.66% -1,015.19% -698.79% 125.14% -374.54% -281.72% -65.62%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% -2.81% -1,666.72% -421.40% 690.69% -369.84% -1,638.86% -162.27%
Return on Common Equity (ROCE)		 0.00% -75.55% -80.66% -108.15% -93.91% -767.91% -456.32% -139.51% 1,202.41% 231.45% 251.45%
Return on Equity Simple (ROE_SIMPLE)		 -76.66% 0.00% -124.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -7.83 -6.81 -6.39 -6.33 0.86 -6.01 -6.69 -9.02 -7.62 -8.85 -7.32
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 8.62% -918.23% -680.13% -917.29% -775.13% -1,675.63% -146.38%
Net Nonoperating Expense Percent (NNEP)		 -4.46% -3.87% -5.48% 3.29% -6.26% -120.16% -31.46% 76.10% -113.97% -281.58% -115.26%
Return On Investment Capital (ROIC_SIMPLE)		 -16.64% -17.94% -21.21% -104.49% 15.22% 28.13% -117.83% -19.14% 32.40% 4.71% 2.63%
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% 0.00% 0.00% 0.00% 35.68% 594.96% 404.48% 402.65% 416.48% 790.91% 122.56%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 52.00% 816.79% 667.14% 614.65% 790.84% 1,702.84% 186.56%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 87.68% 1,411.76% 1,071.62% 1,017.29% 1,207.32% 2,493.75% 309.12%
Earnings before Interest and Taxes (EBIT)		 -11 -9.82 -9.22 -5.35 -1.87 -30 -45 7.20 -73 -31 -52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -11 -9.41 -8.47 -4.97 -1.52 -29 -44 7.34 -72 -31 -51
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.94 7.58 15.94 5.78 6.78 0.00 6.74 1.62 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 4.94 7.58 15.94 5.78 6.78 0.00 6.74 1.62 0.00 0.00 0.00
Price to Revenue (P/Rev)		 17.98 0.00 0.00 0.00 3.84 4.38 3.29 6.07 30.61 55.66 33.28
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.94 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% 11.19% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 57.00 132.86 159.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 14.59 0.00 0.00 0.00 0.74 1.13 0.00 0.00 8.04 29.99 19.02
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 0.75 0.30 0.00 0.00 0.55 0.54 0.55
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.03 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		 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.95 -0.96 -0.96 -1.46 -1.43 -4.27 -3.60 -2.41 6.29 0.59 0.77
Leverage Ratio		 1.18 1.19 1.19 1.78 1.99 5.71 4.23 2.78 -7.96 -0.70 -0.86
Compound Leverage Factor		 1.11 1.13 1.14 1.62 1.53 5.64 4.20 3.17 -7.86 -0.69 -0.85
Debt to Total Capital		 3.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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		 3.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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		 96.76% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 1.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 1.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 10.93 14.62 35.03 -6.85 -5.90 -8.85 -3.78 -1.50 -6.06 -7.10 -7.53
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		 7.25 5.75 5.18 6.96 7.40 5.32 10.02 16.41 13.15 9.22 11.91
Quick Ratio		 6.81 5.34 4.76 6.67 7.06 5.07 9.85 16.19 12.85 9.01 11.70
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8.38 -5.56 -7.95 29 29 52 92 2.56 72 212 282
Operating Cash Flow to CapEx		 0.00% 0.00% -124,942.86% 0.00% 0.00% 18,321.05% -34,366.67% -33,961.11% -37,666.67% -9,850.85% -10,412.50%
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		 0.17 0.00 0.00 0.00 0.20 0.23 0.15 0.17 0.05 0.05 0.06
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 1.41 4.54 4.89 5.39 0.49 2.53 1.96
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		 3.91 0.00 0.00 0.00 5.99 8.42 12.39 18.37 7.24 6.99 19.14
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 0.00 258.68 80.38 74.64 67.69 747.62 144.29 185.86
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 0.00 258.68 80.38 74.64 67.69 747.62 144.29 185.86
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3.20 1.89 2.85 -32 -25 -56 -96 -43 -105 -277 -385
Invested Capital Turnover		 4.28 0.00 0.00 0.00 -0.90 -0.39 -0.25 -0.34 -0.06 -0.02 -0.03
Increase / (Decrease) in Invested Capital		 0.55 -1.24 1.56 -35 -29 -58 -99 -12 -80 -221 -289
Enterprise Value (EV)		 182 251 453 -2.74 7.39 12 -63 -14 29 104 143
Market Capitalization		 225 287 480 35 38 47 38 77 110 194 249
Book Value per Share		 $1.49 $1.24 $0.99 $1.90 $1.77 ($6.58) $1.75 $5.50 ($2.74) ($21.91) ($24.21)
Tangible Book Value per Share		 $1.49 $1.24 $0.99 $1.90 $1.77 ($6.58) $1.75 $5.50 ($2.74) ($21.91) ($24.21)
Total Capital		 47 38 30 6.06 5.67 -21 5.67 47 -24 -188 -278
Total Debt		 1.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 1.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -42 -36 -27 -38 -31 -35 -102 -90 -81 -89 -107
Capital Expenditures (CapEx)		 0.00 0.00 0.01 0.00 0.00 0.02 0.03 0.02 0.02 0.06 0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.17 -2.06 -1.45 -2.11 8.15 -2.95 -6.22 -1.90 -2.00 -7.62 -2.53
Debt-free Net Working Capital (DFNWC)		 42 34 26 36 39 32 95 88 79 82 104
Net Working Capital (NWC)		 42 34 26 36 39 32 95 88 79 82 104
Net Nonoperating Expense (NNE)		 2.61 2.11 2.44 -1.47 2.30 42 20 -49 64 174 120
Net Nonoperating Obligations (NNO)		 -42 -36 -27 -38 -31 -35 -102 -90 -81 -89 -107
Total Depreciation and Amortization (D&A)		 0.28 0.41 0.75 0.39 0.34 0.32 0.29 0.14 0.06 0.05 0.07
Debt-free, Cash-free Net Working Capital to Revenue		 -17.38% 0.00% 0.00% 0.00% 81.54% -27.67% -53.41% -15.04% -55.58% -219.04% -33.71%
Debt-free Net Working Capital to Revenue		 333.48% 0.00% 0.00% 0.00% 391.66% 296.73% 819.98% 701.15% 2,201.22% 2,347.68% 1,392.90%
Net Working Capital to Revenue		 333.48% 0.00% 0.00% 0.00% 391.66% 296.73% 819.98% 701.15% 2,201.22% 2,347.68% 1,392.90%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($5.10) ($4.42) ($4.24) ($7.99) ($0.44) ($0.95) ($7.43) $2.55 ($8.36) ($24.49) ($11.65)
Adjusted Weighted Average Basic Shares Outstanding		 2.03M 2.02M 2.08M 3.16M 3.23M 2.93M 3.63M 8.54K 8.57M 7.48M 10.95M
Adjusted Diluted Earnings per Share		 ($5.10) ($4.42) ($4.24) ($7.99) ($0.44) ($0.95) ($7.43) $2.55 ($8.36) ($24.49) ($11.65)
Adjusted Weighted Average Diluted Shares Outstanding		 2.03M 2.02M 2.08M 3.16M 3.23M 2.93M 3.63M 8.54K 8.57M 7.48M 10.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($4.42) $0.00 $0.00 $0.00 ($0.95) $0.00 $0.00 $0.00 ($24.49) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.04M 0.00 3.20M 3.21M 3.25M 3.28M 8.56M 8.57M 8.57M 11.49M 11.61M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.78 -6.78 -6.39 -6.33 0.86 -6.01 -6.69 -6.31 -7.62 -8.85 -7.32
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 8.62% -918.23% -680.13% -642.11% -775.13% -1,675.63% -146.38%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% -14.34% -4,445.04% -4,519.53% 836.83% -7,288.20% -5,813.83% -1,013.00%
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

Surrozen’s latest quarter shows a much stronger cash position, but the business is still heavily loss-making and operating with a large liability overhang. In Q1 2026, the company reported $5.0 million of revenue, a sharp increase from the low hundreds of thousands seen in most prior quarters. However, operating expenses were still more than three times revenue, and the company posted a large net loss. The balance sheet remains unusual: cash is high, but liabilities are also very large, leaving equity deeply negative.

  • Cash & equivalents rose to $106.9 million in Q1 2026, giving Surrozen a sizable near-term liquidity cushion.
  • Revenue improved to $5.0 million in Q1 2026, well above the sub-$1 million levels reported in several prior quarters.
  • The company generated negative operating cash flow of only $12.5 million in Q1 2026, better than the much larger net losses reported in prior periods when viewed against its balance of cash.
  • Financing activities brought in $30.3 million in Q1 2026, helping offset operating cash burn and supporting the cash balance.
  • R&D spending remains meaningful at $9.3 million in Q1 2026, consistent with a development-stage biotech focused on pipeline advancement.
  • SG&A expense was $6.1 million in Q1 2026, indicating ongoing overhead costs that are still high relative to revenue.
  • The company reported a negative basic and diluted EPS of $11.65 in Q1 2026, reflecting continued heavy losses per share.
  • Q1 2026 net loss attributable to common shareholders was $127.5 million, a very large quarterly loss.
  • Total liabilities were $398.9 million, far exceeding total assets of $120.7 million, which leaves the balance sheet under significant pressure.
  • Total common equity was negative $278.1 million, showing that accumulated losses continue to outweigh contributed capital.

Trend over the last several years: Surrozen has moved from a period of minimal revenue and recurring operating losses to a quarter with meaningful revenue, but it has not yet shown durable profitability. The company’s cash balance improved materially through equity financing, while operating results remain highly volatile. In fact, quarterly revenue has fluctuated widely, and losses have remained substantial despite some periods of temporary improvement in cash flow.

What investors should watch next: whether the new revenue level is sustainable, whether operating losses narrow, and how quickly the company burns through cash. For now, Surrozen’s balance sheet provides runway, but the long-term investment case still depends on converting that cash into consistent commercial traction and a path toward profitability.

07/11/26 09:52 PM ETAI Generated. May Contain Errors.

Surrozen Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Surrozen's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Surrozen's net income appears to be on an upward trend, with a most recent value of -$242.03 million in 2025, rising from -$32.72 million in 2020. The previous period was -$63.56 million in 2024.

Surrozen's total operating income in 2025 was -$42.09 million, based on the following breakdown:
  • Total Gross Profit: $3.48 million
  • Total Operating Expenses: $45.57 million

Over the last 5 years, Surrozen's total revenue changed from $0.00 in 2020 to $3.48 million in 2025, a change of 347,700,000.0%.

Surrozen's total liabilities were at $286.49 million at the end of 2025, a 310.2% increase from 2024, and a 1,840.1% increase since 2020.

In the past 5 years, Surrozen's cash and equivalents has ranged from $24.69 million in 2022 to $89.25 million in 2025, and is currently $89.25 million as of their latest financial filing in 2025.

Over the last 5 years, Surrozen's book value per share changed from 2.96 in 2020 to -21.91 in 2025, a change of -839.9%.


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