Septerna, Inc. (SEPN) Income Statement
SEPN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSEPN revenue and net income
Where SEPN's revenue goes
2025Each bar shows an amount and its share of revenue. SEPN kept −106.4% of revenue as net income.
SEPN profit margins
SEPN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4,174.5% | — | — | — |
| Gross profit | +4,174.5% | — | — | — |
| 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.
SEPN quarterly EPS vs estimates
Septerna beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 9, 2026 (estimate $-0.55).
SEPN income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $46.0M | $1.1M | $151,000 | $0 |
| Cost of revenue | $1.6M | $0 | $0 | — |
| Gross profit | $46.0M | $1.1M | $151,000 | — |
| Research & development | $97.6M | $65.3M | $36.0M | $22.0M |
| Sales, general & admin | $29.2M | $16.6M | $9.7M | $5.9M |
| Total operating expenses | $126.7M | $81.9M | −$1.9M | $28.0M |
| Operating income | −$80.8M | −$80.8M | $2.1M | −$28.0M |
| Interest income | $19.5M | $8.6M | $2.8M | $291,000 |
| Income before taxes | −$48.9M | −$72.3M | $4.9M | −$27.7M |
| Income taxes | $12,000 | −$498,000 | $691,000 | — |
| Net income | −$48.9M | −$71.8M | $4.2M | −$27.7M |
| EBITDA | −$47.3M | −$70.9M | −$44.7M | −$27.4M |
| EPS (diluted) | −$1.39 | −$21.80 | $0.25 | — |
| Gross margin | 100.0% | 100.0% | 100.0% | — |
| Operating margin | −175.8% | −7,518.4% | 1,374.2% | — |
| Net margin | −106.4% | −6,678.9% | 2,768.2% | — |
| 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 | $26.7M | $26.5M | $24.1M | $21.5M | $119,000 | $219,000 | $212,000 | $176,000 | $370,000 | $317,000 | $118,000 | $33,000 |
| Cost of revenue | $0 | $421,000 | $401,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross profit | $26.7M | $26.1M | $24.1M | $21.5M | $119,000 | $219,000 | $212,000 | $176,000 | $370,000 | $317,000 | $118,000 | $33,000 |
| Research & development | $35.1M | $29.1M | $31.9M | $24.3M | $22.2M | $19.3M | $19.3M | $17.8M | $15.0M | $13.2M | $10.3M | $9.3M |
| Sales, general & admin | $8.4M | $10.3M | $8.3M | $7.1M | $6.9M | $6.9M | $5.6M | $4.9M | $3.4M | $2.7M | $3.1M | $2.8M |
| Total operating expenses | $43.6M | $39.4M | $40.1M | $18.9M | $29.1M | $26.1M | $24.9M | $22.7M | $18.4M | $15.8M | −$34.2M | $12.1M |
| Operating income | −$16.8M | −$13.3M | −$16.0M | $2.6M | −$29.0M | −$25.9M | −$24.7M | −$22.6M | −$18.1M | −$15.5M | $34.3M | −$12.0M |
| Interest income | $4.8M | $5.0M | $5.3M | $5.6M | $4.2M | $4.5M | $3.9M | $1.9M | $1.5M | $1.3M | $1.3M | $1.1M |
| Income before taxes | −$12.1M | −$8.3M | −$10.7M | $8.2M | −$24.8M | −$21.5M | −$20.8M | −$20.7M | −$16.6M | −$14.3M | $35.6M | −$10.9M |
| Income taxes | $973,000 | $337,000 | $12,000 | — | — | — | −$160,000 | −$136,000 | −$109,000 | −$93,000 | $691,000 | — |
| Net income | −$13.0M | −$8.6M | −$10.7M | $8.2M | −$24.8M | −$21.5M | −$20.7M | −$20.5M | −$16.4M | −$14.2M | $34.9M | −$10.9M |
| EBITDA | −$11.6M | −$7.9M | −$10.3M | −$9.5M | −$24.4M | −$21.1M | −$20.4M | −$20.3M | −$16.2M | −$13.9M | −$13.1M | −$10.7M |
| EPS (diluted) | −$0.29 | −$0.19 | −$0.24 | −$0.10 | −$0.56 | −$0.49 | −$0.64 | −$8.40 | −$12.76 | — | — | — |
| Gross margin | 100.0% | 98.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −62.9% | −50.1% | −66.4% | 12.2% | −24,351.3% | −11,831.1% | −11,659.4% | −12,812.5% | −4,882.4% | −4,886.4% | 29,082.2% | −36,484.8% |
| Net margin | −48.7% | −32.6% | −44.5% | 38.0% | −20,872.3% | −9,806.4% | −9,749.1% | −11,660.8% | −4,443.5% | −4,468.8% | 29,571.2% | −33,166.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SEPN's financial statements (latest annual report filed March 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SEPN financial results
In fiscal year 2025 (ended December 31, 2025), Septerna reported revenue of $46.0 million, up 4,174.5% from the year before. It had a net loss of $48.9 million, a net profit margin of −106.4%. Diluted earnings per share came to −$1.39.
See the SEPN stock overview for the latest quote and news, or the SEPN chart for price history and technical indicators.
SEPN income statement FAQ
What is Septerna's annual revenue?
Septerna reported total revenue of $46.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 4,174.5% from $1.1 million the previous year.
Is Septerna profitable?
No. Septerna reported a net loss of $48.9 million in fiscal 2025, a net profit margin of −106.4%; its operating margin was −175.8%.
What is Septerna's gross margin?
Septerna's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Septerna kept $100 after the direct cost of its products and services.
How much does Septerna spend on research and development?
Septerna spent $97.6 million on research and development in fiscal 2025, 212.4% of revenue.
What are Septerna's earnings per share?
Septerna earned $-1.39 per diluted share in fiscal 2025, compared with $-21.80 a year earlier.
When will Septerna report its next earnings?
Septerna is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Septerna's fiscal year end?
Septerna's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 9, 2026.