SAB Biotherapeutics, Inc. (SABS) Income Statement
SABS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSABS revenue and net income
SABS profit margins
SABS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −100.0% | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | −8.0% | — |
| 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.
SABS quarterly EPS vs estimates
SAB Biotherapeutics beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 13, 2026 (estimate $-0.27).
SABS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $1.3M | $2.2M | $23.9M | $60.9M | $55.2M | $3.4M |
| Cost of revenue | $3.1M | $4.8M | $3.7M | $3.3M | $1.7M | $0 | $0 |
| Gross profit | −$3.1M | −$3.5M | −$1.5M | $20.6M | $59.2M | $55.2M | $3.4M |
| Research & development | $34.4M | $30.2M | $16.5M | $36.4M | $57.2M | $27.9M | $8.0M |
| Sales, general & admin | $14.6M | $14.0M | $23.8M | $16.4M | $17.1M | $6.8M | $4.1M |
| Total operating expenses | $45.9M | $39.4M | $36.6M | $49.5M | $72.6M | $34.7M | $12.1M |
| Operating income | −$49.0M | −$42.9M | −$38.1M | −$28.9M | −$13.4M | $20.6M | −$8.7M |
| Interest income | $1.4M | $1.3M | $130,849 | $71,072 | $23,115 | $26,131 | $113,133 |
| Interest expense | $240,664 | $318,401 | $315,284 | $301,584 | $294,459 | $469,151 | $428,476 |
| Income before taxes | $13.3M | −$34.1M | −$42.2M | −$18.7M | −$17.1M | $20.1M | −$9.0M |
| Income taxes | — | — | −$2 | $25,629 | $299,947 | $473,147 | $431,070 |
| Net income | $13.3M | −$34.1M | −$42.2M | −$18.7M | −$17.1M | $20.1M | −$9.0M |
| EBITDA | $16.6M | −$29.0M | −$38.1M | −$15.1M | −$15.2M | $21.1M | −$8.2M |
| EPS (diluted) | −$1.56 | −$4.03 | −$7.16 | −$4.84 | −$1.05 | $0.46 | — |
| Gross margin | — | −262.4% | −67.3% | 86.2% | 97.3% | 100.0% | 100.0% |
| Operating margin | — | −3,244.9% | −1,700.5% | −121.0% | −22.0% | 37.2% | −252.0% |
| Net margin | — | −2,579.0% | −1,884.5% | −78.4% | −28.2% | 36.4% | −261.1% |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $114,698 | $0 | $263,137 | $944,575 | $305,011 | $1.3M |
| Cost of revenue | — | $752,670 | $763,299 | $765,469 | $822,000 | $7.7M | $785,713 | $966,860 | $1.0M | $2.0M | $944,401 | $985,446 |
| Gross profit | — | −$752,670 | −$763,299 | −$765,469 | −$822,000 | −$7.7M | −$671,015 | −$966,860 | −$758,863 | −$1.0M | −$639,000 | $281,915 |
| Research & development | $16.2M | $13.4M | $10.7M | $8.9M | $7.0M | $7.7M | $7.6M | $7.8M | $6.8M | $8.1M | $4.3M | $4.0M |
| Sales, general & admin | $7.2M | $6.6M | $5.0M | $3.7M | $2.7M | $3.1M | $2.7M | $3.5M | $3.6M | $4.2M | $14.9M | $2.6M |
| Total operating expenses | $23.4M | $19.2M | $15.0M | $11.9M | $8.9M | $3.1M | $9.3M | $10.3M | $9.4M | $10.4M | $18.2M | $5.6M |
| Operating income | −$23.4M | −$20.0M | −$15.8M | −$12.7M | −$9.7M | −$10.8M | −$10.0M | −$11.3M | −$10.2M | −$11.4M | −$18.9M | −$5.3M |
| Interest income | $1.7M | $1.0M | $700,739 | $655,233 | $13,562 | $62,498 | $136,374 | $277,174 | $374,557 | $497,893 | $484,046 | $14,364 |
| Interest expense | $62,000 | $62,744 | $63,462 | $43,292 | $64,345 | $69,565 | $70,876 | $78,036 | $93,119 | $76,371 | $77,879 | $69,700 |
| Income before taxes | −$22.5M | −$18.9M | −$16.9M | $45.4M | −$10.1M | −$5.2M | −$11.4M | −$10.3M | −$7.3M | −$5.0M | −$22.9M | −$5.1M |
| Income taxes | — | — | — | — | — | — | $13.4M | — | — | −$13.4M | −$1 | $166,883 |
| Net income | −$22.5M | −$18.9M | −$16.9M | $45.4M | −$10.1M | −$5.2M | −$11.4M | −$10.3M | −$7.3M | −$5.0M | −$22.9M | −$5.1M |
| EBITDA | −$21.6M | −$18.1M | −$16.0M | $46.3M | −$9.2M | −$4.3M | −$10.5M | −$9.3M | −$6.2M | −$3.0M | −$21.8M | −$4.0M |
| EPS (diluted) | −$0.28 | −$0.35 | −$0.41 | $0.50 | −$1.09 | −$0.56 | −$0.98 | −$1.12 | −$0.79 | −$1.14 | −$3.38 | −$1.01 |
| Gross margin | — | — | — | — | — | — | −585.0% | — | −288.4% | −110.1% | −209.5% | 22.3% |
| Operating margin | — | — | — | — | — | — | −8,726.3% | — | −3,877.0% | −1,205.9% | −6,188.0% | −420.1% |
| Net margin | — | — | — | — | — | — | −9,934.5% | — | −2,787.7% | −532.1% | −7,493.8% | −402.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SABS's financial statements (latest annual report filed March 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SABS financial results
SAB Biotherapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had net income of $13.3 million. Diluted earnings per share came to −$1.56.
See the SABS stock overview for the latest quote and news, or the SABS chart for price history and technical indicators.
SABS income statement FAQ
Does SAB Biotherapeutics have revenue?
SAB Biotherapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is SAB Biotherapeutics profitable?
Yes. SAB Biotherapeutics reported net income of $13.3 million in fiscal 2025.
How much does SAB Biotherapeutics spend on research and development?
SAB Biotherapeutics spent $34.4 million on research and development in fiscal 2025.
What are SAB Biotherapeutics's earnings per share?
SAB Biotherapeutics earned $-1.56 per diluted share in fiscal 2025, compared with $-4.03 a year earlier.
When will SAB Biotherapeutics report its next earnings?
SAB Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does SAB Biotherapeutics's fiscal year end?
SAB Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 9, 2026.