Spyre Therapeutics, Inc. (SYRE) Income Statement
SYRE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSYRE revenue and net income
SYRE profit margins
SYRE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −100.0% | — | — | — |
| Gross profit | −19,473.9% | — | — | — |
| 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.
SYRE quarterly EPS vs estimates
Spyre Therapeutics beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 3, 2026 (estimate $-0.79).
SYRE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $886,000 | $886,000 | $2.3M | $18.7M | $0 | $0 | $3.9M | $5.2M | $4.6M |
| Cost of revenue | $171.7M | $964,000 | $964,000 | $2.0M | $2.0M | $1.6M | $901,000 | $0 | $0 | $0 |
| Gross profit | −$171.7M | $886,000 | −$78,000 | $2.3M | $18.7M | −$1.6M | −$901,000 | $3.9M | $5.2M | $4.6M |
| Research & development | $171.7M | $162.8M | $89.5M | $58.6M | $57.1M | $59.6M | $64.6M | $36.7M | $22.8M | $18.1M |
| Sales, general & admin | $47.9M | $45.8M | $39.9M | $28.5M | $27.3M | $21.8M | $17.8M | — | — | — |
| Total operating expenses | $37.9M | $208.6M | $243.2M | $87.1M | $84.4M | $79.9M | $79.4M | $49.4M | $32.9M | $26.5M |
| Operating income | −$209.6M | −$208.6M | −$242.3M | −$84.8M | −$65.6M | −$81.5M | −$80.3M | −$45.5M | −$27.7M | −$21.9M |
| Interest income | $24.9M | $21.3M | $6.1M | $837,000 | $111,000 | $593,000 | $1.5M | — | — | — |
| Income before taxes | −$155.2M | −$208.0M | −$338.8M | −$84.0M | −$65.7M | −$80.9M | −$78.3M | −$44.3M | −$27.2M | −$21.7M |
| Income taxes | −$15,000 | $51,000 | −$26,000 | −$136,000 | $141,000 | −$593,000 | — | — | — | — |
| Net income | −$155.2M | −$208.0M | −$338.8M | −$83.8M | −$65.8M | −$80.9M | −$78.3M | −$44.3M | −$27.2M | −$21.7M |
| EBITDA | −$209.6M | −$208.0M | −$242.3M | −$82.0M | −$64.1M | −$79.3M | −$77.4M | −$45.2M | −$27.4M | −$21.8M |
| EPS (diluted) | −$1.98 | −$4.23 | −$75.14 | −$25.75 | −$25.00 | −$40.25 | −$61.25 | −$52.75 | −$45.25 | −$32.61 |
| Gross margin | — | 100.0% | −8.8% | 100.0% | 100.0% | — | — | 100.0% | 100.0% | 100.0% |
| Operating margin | — | −23,540.2% | −27,348.0% | −3,640.2% | −350.3% | — | — | −1,169.3% | −531.7% | −473.3% |
| Net margin | — | −23,478.3% | −38,238.1% | −3,598.8% | −351.1% | — | — | −1,140.6% | −523.3% | −468.8% |
| 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 | $90.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.0M | $0 |
| Cost of revenue | — | — | $45.2M | $45.2M | — | — | — | — | — | — | $964,000 | — |
| Gross profit | — | — | $45.2M | −$45.2M | — | — | — | — | — | — | $78,000 | — |
| Research & development | $65.5M | $60.4M | $44.6M | $45.2M | $40.1M | $41.6M | $50.5M | $44.7M | $32.6M | $34.9M | $33.7M | $24.7M |
| Sales, general & admin | $16.1M | $15.2M | $12.5M | $11.6M | $11.8M | $11.9M | $10.8M | $10.6M | $11.5M | $12.8M | $14.1M | $8.6M |
| Total operating expenses | $41.6M | $45.6M | $102.4M | $11.6M | $41.9M | $53.6M | $61.3M | $55.4M | $44.1M | $47.8M | $45.9M | $18.3M |
| Operating income | −$41.6M | −$45.6M | −$57.2M | −$56.9M | −$41.9M | −$53.6M | −$61.3M | −$55.4M | −$44.1M | −$47.8M | −$45.9M | −$18.3M |
| Interest income | $10.1M | $7.0M | $7.1M | $5.4M | $5.9M | $6.5M | $5.8M | $5.2M | $5.9M | $4.4M | $4.1M | $1.3M |
| Interest expense | — | — | — | — | — | — | $21.3M | — | — | — | — | — |
| Income before taxes | −$36.2M | −$69.0M | −$62.5M | −$11.2M | −$36.7M | −$44.8M | −$56.3M | −$69.0M | −$38.8M | −$43.8M | −$63.2M | −$40.1M |
| Income taxes | — | — | $30,000 | — | — | −$15,000 | $1,000 | $18,000 | — | $32,000 | −$5.7M | $3,000 |
| Net income | −$36.2M | −$69.0M | −$62.5M | −$11.2M | −$36.7M | −$44.8M | −$56.3M | −$69.0M | −$38.8M | −$43.9M | −$63.2M | −$40.1M |
| EBITDA | −$36.2M | −$75.6M | −$62.5M | −$11.2M | −$51.9M | −$44.8M | −$56.3M | −$69.0M | −$38.8M | −$43.8M | −$47.8M | −$33.2M |
| EPS (diluted) | −$0.36 | −$0.74 | −$0.74 | −$0.15 | −$0.49 | −$0.60 | −$0.81 | −$1.36 | −$0.86 | −$1.20 | −$4.05 | −$9.34 |
| Gross margin | — | — | 50.0% | — | — | — | — | — | — | — | 7.5% | — |
| Operating margin | — | — | −63.2% | — | — | — | — | — | — | — | −4,406.3% | — |
| Net margin | — | — | −69.1% | — | — | — | — | — | — | — | −6,063.3% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SYRE's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SYRE financial results
Spyre Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $155.2 million. Diluted earnings per share came to −$1.98.
See the SYRE stock overview for the latest quote and news, or the SYRE chart for price history and technical indicators.
SYRE income statement FAQ
Does Spyre Therapeutics have revenue?
Spyre Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Spyre Therapeutics profitable?
No. Spyre Therapeutics reported a net loss of $155.2 million in fiscal 2025.
How much does Spyre Therapeutics spend on research and development?
Spyre Therapeutics spent $171.7 million on research and development in fiscal 2025.
What are Spyre Therapeutics's earnings per share?
Spyre Therapeutics earned $-1.98 per diluted share in fiscal 2025, compared with $-4.23 a year earlier.
When will Spyre Therapeutics report its next earnings?
Spyre Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Spyre Therapeutics's fiscal year end?
Spyre Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.