Seres Therapeutics, Inc. (MCRB) Income Statement
MCRB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMCRB revenue and net income
Where MCRB's revenue goes
2025Each bar shows an amount and its share of revenue. MCRB kept 721.9% of revenue as net income.
MCRB profit margins
MCRB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | −52.0% | −52.7% | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MCRB quarterly EPS vs estimates
Seres Therapeutics beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $-1.34).
MCRB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $789,000 | $0 | $126.3M | $7.1M | $144.9M | $33.2M | $34.5M | $28.3M | $32.1M | $21.8M |
| Cost of revenue | $4.1M | $3.5M | $19.3M | $1.0M | $141.9M | $90.6M | $80.1M | $96.0M | $89.5M | $82.0M |
| Gross profit | −$3.3M | −$3.5M | −$19.3M | $6.1M | $144.9M | −$57.4M | $34.5M | $28.3M | −$57.4M | −$60.2M |
| Research & development | $49.1M | $64.6M | $117.6M | $109.7M | $141.9M | $90.6M | $80.1M | $96.0M | $89.5M | $82.0M |
| Sales, general & admin | $39.2M | $53.2M | $77.5M | $70.3M | $69.3M | $30.8M | $24.7M | $32.6M | $34.0M | $32.6M |
| Total operating expenses | $90.6M | $117.8M | $175.8M | $179.9M | $209.4M | $30.8M | $106.4M | $128.6M | $123.5M | $114.6M |
| Operating income | −$94.0M | −$121.3M | −$195.1M | −$179.9M | −$64.5M | −$88.1M | −$71.9M | −$100.3M | −$91.4M | −$92.8M |
| Interest income | $2.2M | $4.0M | $6.7M | $3.1M | $2.9M | $946,000 | $1.0M | $1.2M | $1.6M | $2.2M |
| Interest expense | $0 | $0 | $13.2M | $6.0M | $2.9M | $2.9M | $502,000 | $1.2M | $1.6M | $969,000 |
| Income before taxes | $5.7M | −$125.8M | −$190.1M | −$183.6M | −$65.6M | −$89.1M | −$70.3M | −$98.9M | −$89.4M | −$91.6M |
| Income taxes | — | $136,000 | $14.9M | $3.7M | −$4.1M | −$2.7M | −$6.0M | $1.3M | −$1.6M | $2.2M |
| Net income | $5.7M | −$146.6M | −$113.7M | −$250.2M | −$65.6M | −$89.1M | −$70.3M | −$98.9M | −$89.4M | −$91.6M |
| EBITDA | $9.8M | −$120.3M | −$181.4M | −$170.9M | −$56.7M | −$79.6M | −$62.2M | −$92.4M | −$82.1M | −$88.6M |
| EPS (diluted) | −$5.33 | −$16.51 | −$11.92 | −$36.54 | −$4.52 | −$13.31 | −$25.53 | −$38.72 | −$30.52 | −$33.83 |
| Gross margin | −423.8% | — | −15.3% | 85.9% | 100.0% | −172.7% | 100.0% | 100.0% | −178.7% | −276.7% |
| Operating margin | −11,910.1% | — | −154.4% | −2,524.0% | −44.5% | −265.3% | −208.3% | −354.8% | −284.7% | −426.5% |
| Net margin | 721.9% | — | −90.0% | −3,509.5% | −45.2% | −268.3% | −203.7% | −350.0% | −278.4% | −420.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $736,000 | $358,000 | $438,000 | $351,000 | $0 | $0 | $6.0M | $0 | $0 | $0 | $64,000 | $310,000 |
| Cost of revenue | $0 | $781,000 | $592,000 | $736,000 | $1.7M | $3.5M | $3.5M | $1.4M | $1.4M | $19.5M | $4.1M | $4.7M |
| Gross profit | $736,000 | $358,000 | −$154,000 | −$385,000 | −$1.7M | −$3.5M | −$3.5M | −$1.4M | −$1.4M | −$19.5M | $64,000 | −$4.7M |
| Research & development | $9.1M | $13.2M | $11.7M | $12.6M | $12.9M | $11.8M | $12.8M | $16.5M | $15.8M | $19.5M | $26.8M | $25.2M |
| Sales, general & admin | $7.1M | $8.1M | $7.5M | $9.5M | $10.3M | $11.9M | $12.5M | $12.7M | $13.1M | $14.9M | $17.2M | $19.4M |
| Total operating expenses | $22.0M | $21.3M | $19.2M | $22.1M | $23.2M | $23.7M | $25.3M | $29.2M | $28.9M | $14.9M | $39.6M | $39.8M |
| Operating income | −$21.3M | −$20.9M | −$19.4M | −$22.5M | −$24.9M | −$27.2M | −$28.8M | −$29.2M | −$28.9M | −$34.4M | −$39.5M | −$44.6M |
| Interest income | $181,000 | $325,000 | $445,000 | $618,000 | $546,000 | $618,000 | $437,000 | $652,000 | $1.2M | $1.6M | $2.0M | $2.6M |
| Interest expense | — | — | — | — | $0 | $0 | $0 | $0 | $3.4M | $4.7M | $4.0M | $4.0M |
| Income before taxes | $4.6M | −$19.9M | −$15.3M | $8.2M | −$19.9M | $32.7M | −$15.6M | −$51.0M | −$26.2M | −$32.9M | −$41.2M | −$41.0M |
| Income taxes | — | — | — | — | — | — | — | — | −$1 | $1.5M | −$2.2M | $1.4M |
| Net income | $4.6M | −$19.9M | −$15.3M | $8.2M | −$19.9M | $32.7M | −$15.6M | $88.8M | −$32.9M | −$40.1M | −$41.2M | −$47.9M |
| EBITDA | −$20.6M | −$19.1M | −$14.4M | $9.2M | −$18.8M | $33.8M | −$14.6M | −$49.6M | −$24.8M | −$30.7M | −$35.6M | −$39.3M |
| EPS (diluted) | −$1.50 | −$2.08 | −$1.76 | $0.94 | −$2.27 | −$2.24 | −$0.11 | −$6.60 | −$4.40 | −$5.40 | −$0.32 | −$7.40 |
| Gross margin | 100.0% | 100.0% | −35.2% | −109.7% | — | — | −59.3% | — | — | — | 100.0% | −1,530.3% |
| Operating margin | −2,890.4% | −5,839.9% | −4,424.0% | −6,403.7% | — | — | −484.0% | — | — | — | −61,759.4% | −14,382.6% |
| Net margin | 622.4% | −5,562.3% | −3,501.1% | 2,337.3% | — | — | −262.5% | — | — | — | −64,450.0% | −15,436.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MCRB's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MCRB financial results
In fiscal year 2025 (ended December 31, 2025), Seres Therapeutics reported revenue of $0.8 million. It had net income of $5.7 million, a net profit margin of 721.9%. Diluted earnings per share came to −$5.33. Over five years revenue grew at an average rate of −52.7% a year.
See the MCRB stock overview for the latest quote and news, or the MCRB chart for price history and technical indicators.
MCRB income statement FAQ
What is Seres Therapeutics's annual revenue?
Seres Therapeutics reported total revenue of $0.8 million for fiscal year 2025, which ended on December 31, 2025.
Is Seres Therapeutics profitable?
Yes. Seres Therapeutics reported net income of $5.7 million in fiscal 2025, a net profit margin of 721.9%; its operating margin was −11,910.1%.
What is Seres Therapeutics's gross margin?
Seres Therapeutics's gross margin was −423.8% in fiscal 2025: for every $100 of revenue, Seres Therapeutics kept $-424 after the direct cost of its products and services.
How much does Seres Therapeutics spend on research and development?
Seres Therapeutics spent $49.1 million on research and development in fiscal 2025, 6,218.0% of revenue.
How fast is Seres Therapeutics growing?
Revenue grew −52.7% a year on average over the last five fiscal years, from $33.2 million to $0.8 million.
What are Seres Therapeutics's earnings per share?
Seres Therapeutics earned $-5.33 per diluted share in fiscal 2025, compared with $-16.51 a year earlier.
When will Seres Therapeutics report its next earnings?
Seres Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Seres Therapeutics's fiscal year end?
Seres Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.