Syros Pharmaceuticals, Inc. (SYRS) Income Statement
SYRS 2023 at a glance
Fiscal year ended December 31, 2023 · U.S. dollarsSYRS revenue and net income
Where SYRS's revenue goes
2023Each bar shows an amount and its share of revenue. SYRS kept −1,656.3% of revenue as net income.
SYRS profit margins
SYRS growth rates
to 2023| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −33.2% | −13.0% | +37.1% | — |
| Gross profit | −35.5% | −20.2% | +30.2% | — |
| 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.
SYRS quarterly EPS vs estimates
Syros Pharmaceuticals beat the analyst EPS estimate in 5 of the last 8 quarters.
SYRS income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.9M | $14.9M | $23.5M | $15.1M | $2.0M | $2.0M | $1.1M | $317,000 | $317,000 | $0 |
| Cost of revenue | $2.3M | $3.0M | $0 | $0 | $0 | $0 | $54.3M | $47.0M | $602,000 | $0 |
| Gross profit | $7.7M | $11.9M | $23.5M | $15.1M | $2.0M | $2.0M | $1.1M | $317,000 | −$285,000 | $0 |
| Research & development | $108.2M | $111.9M | $99.9M | $76.1M | $58.2M | $50.2M | $41.9M | $37.8M | $24.4M | $10.9M |
| Sales, general & admin | $28.3M | $29.3M | $23.0M | $21.3M | $21.5M | $16.2M | $13.9M | $10.5M | $5.7M | $2.5M |
| Total operating expenses | $30.8M | $38.8M | $122.9M | $97.4M | $79.7M | $66.3M | $55.8M | $48.3M | $30.1M | $13.4M |
| Operating income | −$129.0M | −$135.9M | −$99.4M | −$82.3M | −$77.7M | −$64.3M | −$54.7M | −$48.0M | −$29.8M | −$13.4M |
| Interest income | $6.8M | $2.1M | $87,000 | $426,000 | — | — | — | — | — | — |
| Interest expense | $5.1M | $4.1M | $3.9M | $1.8M | $0 | $1,000 | $0 | $0 | $0 | $0 |
| Income before taxes | −$164.6M | −$94.7M | −$86.6M | −$84.0M | −$75.4M | −$62.3M | −$54.0M | −$47.7M | −$29.8M | −$13.4M |
| Income taxes | $2.1M | −$45.4M | $3.9M | $1.8M | $2.6M | $2.0M | −$1.5M | $0 | $0 | $0 |
| Net income | −$164.6M | −$94.7M | −$86.6M | −$84.0M | −$75.4M | −$62.3M | −$54.0M | −$47.7M | −$29.8M | −$13.4M |
| EBITDA | −$157.2M | −$87.6M | −$79.6M | −$79.2M | −$72.7M | −$60.7M | −$53.2M | −$46.7M | −$29.2M | −$13.2M |
| EPS (diluted) | −$5.72 | −$12.78 | −$13.80 | −$18.20 | −$18.90 | −$19.20 | −$21.20 | −$17.12 | −$16.61 | −$82.91 |
| Gross margin | 77.3% | 80.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | −89.9% | — |
| Operating margin | −1,298.2% | −913.1% | −423.3% | −545.3% | −3,922.4% | −3,136.4% | −4,966.9% | −15,130.3% | −9,406.9% | — |
| Net margin | −1,656.3% | −636.1% | −368.5% | −556.8% | −3,806.2% | −3,038.0% | −4,905.5% | −15,060.9% | −9,406.3% | — |
| Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $386,000 | $3.8M | $2.8M | $3.0M | $0 | $3.9M | $6.3M | $5.5M | $7.8M |
| Cost of revenue | $325,000 | $331,000 | $334,000 | $279,000 | $616,000 | $653,000 | $704,000 | $770,000 | $724,000 | $726,000 | $747,000 | $0 |
| Gross profit | −$325,000 | −$331,000 | −$334,000 | $107,000 | $3.1M | $2.2M | $2.2M | −$6.2M | $3.2M | $5.5M | $4.7M | $7.8M |
| Research & development | $20.5M | $22.0M | $24.3M | $21.2M | $28.3M | $29.6M | $28.8M | $27.9M | $25.8M | $33.1M | $25.2M | $26.8M |
| Sales, general & admin | $5.7M | $5.5M | $6.3M | $5.9M | $7.8M | $7.2M | $7.4M | $7.3M | $8.1M | $6.9M | $6.9M | $6.4M |
| Total operating expenses | $26.2M | $27.4M | $30.6M | $27.1M | $38.4M | $36.8M | $36.2M | $35.2M | $33.8M | $40.0M | $32.1M | $33.2M |
| Operating income | −$26.2M | −$27.4M | −$30.9M | −$27.0M | −$34.6M | −$34.0M | −$33.2M | −$36.0M | −$39.5M | −$33.8M | −$26.7M | −$25.4M |
| Interest income | $793,000 | $1.1M | $1.5M | $1.3M | $1.6M | $2.1M | $1.8M | $1.6M | $392,000 | $112,000 | $35,000 | $31,000 |
| Interest expense | $1.3M | $1.4M | $1.3M | $1.3M | $1.3M | $1.3M | $1.2M | $1.1M | $1.1M | $981,000 | $976,000 | $986,000 |
| Income before taxes | −$6.4M | −$23.3M | −$3.7M | −$64.4M | −$40.1M | −$36.3M | −$23.8M | −$4.8M | −$30.3M | −$34.5M | −$25.1M | −$23.8M |
| Income taxes | −$325,000 | — | $290,724 | $10.9M | −$3.3M | $1.3M | −$8.9M | −$32.3M | −$9.2M | $712,000 | −$1.5M | $986,000 |
| Net income | −$6.4M | −$23.3M | −$3.7M | −$64.4M | −$40.1M | −$36.3M | −$14.9M | $27.6M | −$21.1M | −$35.2M | −$23.6M | −$23.8M |
| EBITDA | −$4.8M | −$21.6M | −$2.1M | −$62.8M | −$38.2M | −$34.3M | −$21.9M | −$2.9M | −$28.5M | −$32.8M | −$23.4M | −$22.1M |
| EPS (diluted) | −$0.16 | −$0.59 | −$0.10 | −$2.22 | −$1.35 | −$1.30 | −$0.85 | −$0.17 | −$3.21 | −$5.40 | −$4.00 | −$3.80 |
| Gross margin | — | — | — | 27.7% | 83.6% | 77.0% | 76.2% | — | 81.4% | 88.4% | 86.3% | 100.0% |
| Operating margin | — | — | — | −6,996.1% | −920.7% | −1,200.1% | −1,124.3% | — | −1,014.0% | −538.1% | −487.5% | −325.9% |
| Net margin | — | — | — | −16,679.8% | −1,067.1% | −1,279.8% | −505.2% | — | −541.0% | −560.8% | −432.4% | −305.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SYRS's financial statements (latest annual report filed March 27, 2024); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SYRS financial results
In fiscal year 2023 (ended December 31, 2023), Syros Pharmaceuticals reported revenue of $9.9 million, down 33.2% from the year before. It had a net loss of $164.6 million, a net profit margin of −1,656.3%. Diluted earnings per share came to −$5.72. Over five years revenue grew at an average rate of 37.1% a year.
See the SYRS stock overview for the latest quote and news, or the SYRS chart for price history and technical indicators.
SYRS income statement FAQ
What is Syros Pharmaceuticals's annual revenue?
Syros Pharmaceuticals reported total revenue of $9.9 million for fiscal year 2023, which ended on December 31, 2023. That was down 33.2% from $14.9 million the previous year.
Is Syros Pharmaceuticals profitable?
No. Syros Pharmaceuticals reported a net loss of $164.6 million in fiscal 2023, a net profit margin of −1,656.3%; its operating margin was −1,298.2%.
What is Syros Pharmaceuticals's gross margin?
Syros Pharmaceuticals's gross margin was 77.3% in fiscal 2023: for every $100 of revenue, Syros Pharmaceuticals kept $77 after the direct cost of its products and services.
How much does Syros Pharmaceuticals spend on research and development?
Syros Pharmaceuticals spent $108.2 million on research and development in fiscal 2023, 1,088.5% of revenue.
How fast is Syros Pharmaceuticals growing?
Revenue grew 37.1% a year on average over the last five fiscal years, from $2.0 million to $9.9 million.
What are Syros Pharmaceuticals's earnings per share?
Syros Pharmaceuticals earned $-5.72 per diluted share in fiscal 2023, compared with $-12.78 a year earlier.
When does Syros Pharmaceuticals's fiscal year end?
Syros Pharmaceuticals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2023 and was filed on March 27, 2024.