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SPRBSpruce Biosciences, Inc.
$52.36$72M
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SPRB logoSpruce Biosciences, Inc.(SPRB)Earnings, Financials & Key Ratios

SPRB•NASDAQ
Price updated Jun 19, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCommercial Rare Disease Biopharma
AboutSpruce Biosciences, Inc., a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for adult patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction and clinical consequences in adult patients with classic CAH that is Phase 2b clinical trial. It is also developing tildacerfont for the treatment of pediatric classic congenital adrenal hyperplasia in children that is in Phase 2 clinical trial; and for females with polycystic ovary syndrome, which is in Phase 2 clinical trial. The company has a license agreement with Eli Lilly and Company to research, develop, and commercialize compounds for various pharmaceutical uses. Spruce Biosciences, Inc. was incorporated in 2014 and is headquartered in Daly City, California.Show more
  • Revenue$0-100.0%
  • EBITDA-$36M+35.0%
  • Net Income-$39M+26.5%
  • EPS (Diluted)-50.83+47.5%
  • ROE-109.24%-8.5%

SPRB Key Insights

Spruce Biosciences, Inc. (SPRB) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Weak momentum: RS Rating 10 (bottom 10%)
  • ✗Shares diluted 42.9% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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SPRB Price & Volume

Spruce Biosciences, Inc. (SPRB) stock price & volume — 10-year historical chart

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SPRB Growth Metrics

Spruce Biosciences, Inc. (SPRB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-100%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM32.93%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM62.59%

Return on Capital

10 Years-242.2%
5 Years-70.31%
3 Years-90.3%
Last Year-100.18%

SPRB Recent Earnings

Spruce Biosciences, Inc. (SPRB) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (86%)
Q2 2026Latest
May 13, 2026
Metric
Actual
Est
EPS
$8.94-12.7%
$7.93
Rev
—
—
Q2 2026
Mar 9, 2026
Metric
Actual
Est
EPS
$9.58+25.6%
$12.87
Rev
—
$500,000
Q4 2025
Nov 10, 2025
Metric
Actual
Est
EPS
$14.58+6.3%
$15.56
Rev
—
—
Q3 2025
Aug 14, 2025
Metric
Actual
Est
EPS
$3.50+80.6%
$18.05
Rev
—
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 13, 2026
$8.94vs $7.93-12.7%
—
Q2 2026Mar 9, 2026
$9.58vs $12.87+25.6%
—vs $500,000
Q4 2025Nov 10, 2025
$14.58vs $15.56+6.3%
—
Q3 2025Aug 14, 2025
$3.50vs $18.05+80.6%
—
Based on last 12 quarters of dataView full earnings history →

SPRB Peer Comparison

Spruce Biosciences, Inc. (SPRB) competitors in Commercial Rare Disease Biopharma — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CORT logoCORTCorcept Therapeutics IncorporatedDirect Competitor8.58B79.9197.4512.79%6.23%7.5%0.01
XNCR logoXNCRXencor, Inc.Direct Competitor927M12.64-10.1913.65%-185.71%-28.77%0.30
NTLA logoNTLAIntellia Therapeutics, Inc.Product Competitor1.76B15.67-4.1116.92%-5.97%-57.27%0.14
RARE logoRAREUltragenyx Pharmaceutical Inc.Product Competitor2.7B27.44-4.7120.13%-91.03%-6.08%
ACRS logoACRSAclaris Therapeutics, Inc.Product Competitor542.68M4.50-8.49-58.19%-8.33%-55.89%0.02
HRMY logoHRMYHarmony Biosciences Holdings, Inc.Product Competitor1.93B33.2812.2821.51%16.2%17.19%0.28
NKTR logoNKTRNektar TherapeuticsProduct Competitor1.19B60.98-6.27-43.89%-284.18%-87%1.66
VNDA logoVNDAVanda Pharmaceuticals Inc.Product Competitor342.83M5.80-1.558.72%-109.99%-61.41%0.04

Compare SPRB vs Peers

Spruce Biosciences, Inc. (SPRB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CORT

Most directly comparable listed peer for SPRB.

Scale Benchmark

vs IQV

Larger-name benchmark to compare SPRB against a more recognizable public peer.

Peer Set

Compare Top 5

vs CORT, XNCR, NTLA, RARE

SPRB Income Statement

Spruce Biosciences, Inc. (SPRB) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
0000010.09M4.91M00
Revenue Growth %
-------51.32%-100%-100%
Cost of Goods Sold
1K12K0000000
COGS % of Revenue
---------
Gross Profit
-1K▲ 0%
-12K▼ 1100.0%
0▲ 100.0%
0▲ 0%
0▲ 0%
10.09M▲ 0%
4.91M▼ 51.3%
0▼ 100.0%
0▲ 0%
Gross Margin %
-----100%100%--
Gross Profit Growth %
--1100%100%----51.32%-100%-
Operating Expenses
9.97M13.11M29.42M42.07M47.28M62.08M61.06M36.51M34.01M
OpEx % of Revenue
-----615.34%1243.37%--
Selling, General & Admin
1.57M2.29M5.56M11.37M12.09M12.65M14.64M16.99M17.75M
SG&A % of Revenue
-----125.38%298.19%--
Research & Development
8.4M10.82M23.85M30.7M35.2M49.43M46.42M19.52M16.69M
R&D % of Revenue
-----489.96%945.18%--
Other Operating Expenses
084K000000-430K
Operating Income
-9.97M▲ 0%
-13.11M▼ 31.4%
-29.42M▼ 124.4%
-42.07M▼ 43.0%
-47.28M▼ 12.4%
-51.99M▼ 10.0%
-56.15M▼ 8.0%
-36.51M▲ 35.0%
-34.01M▲ 0%
Operating Margin %
------515.34%-1143.37%--
Operating Income Growth %
--31.44%-124.43%-43%-12.4%-9.96%-8%34.97%-
EBITDA
-9.97M-13.1M-29.38M-42M-47.21M-51.92M-56.1M-36.49M-33.99M
EBITDA Margin %
------514.65%-1142.44%--
EBITDA Growth %
--31.33%-124.36%-42.95%-12.41%-9.99%-8.05%34.96%41.36%
D&A (Non-Cash Add-back)
1K12K36K68K74K70K46K21K15K
EBIT
-9.86M-13.02M-29.42M-41.95M-45.76M-47.44M-52.73M-38.88M-36.86M
Net Interest Income
0-46K-200K-226K1.1M4.07M3.12M1.05M-74K
Interest Income
019K123K119K1.52M4.56M3.42M1.14M654K
Interest Expense
065K323K345K420K483K307K90K728K
Other Income/Expense
114K19K-123K-226K1.1M4.07M3.12M-2.45M-3.18M
Pretax Income
-9.86M▲ 0%
-13.09M▼ 32.8%
-29.54M▼ 125.7%
-42.29M▼ 43.2%
-46.18M▼ 9.2%
-47.92M▼ 3.8%
-53.04M▼ 10.7%
-38.97M▲ 26.5%
-37.19M▲ 0%
Pretax Margin %
------474.96%-1079.94%--
Income Tax
000000000
Effective Tax Rate %
0%0%0%0%0%0%0%0%0%
Net Income
-9.86M▲ 0%
-13.24M▼ 34.3%
-29.54M▼ 123.2%
-42.29M▼ 43.2%
-46.18M▼ 9.2%
-47.92M▼ 3.8%
-53.04M▼ 10.7%
-38.97M▲ 26.5%
-37.19M▲ 0%
Net Margin %
------474.96%-1079.94%--
Net Income Growth %
--34.28%-123.15%-43.17%-9.19%-3.77%-10.68%26.53%32.93%
Net Income (Continuing)
-9.86M-13.09M-29.54M-42.29M-46.18M-47.92M-53.04M-38.97M-37.19M
Discontinued Operations
000000000
Minority Interest
000000000
EPS (Diluted)
-483.75▲ 0%
-22.50▲ 95.3%
-48.75▼ 116.7%
-68.25▼ 40.0%
-72.00▼ 5.5%
-93.00▼ 29.2%
-96.75▼ 4.0%
-50.83▲ 47.5%
-27.11▲ 0%
EPS Growth %
-95.35%-116.67%-40%-5.49%-29.17%-4.03%47.46%62.59%
EPS (Basic)
-483.75-22.50-48.75-68.25-72.00-93.00-96.75-50.83-
Diluted Shares Outstanding
19.88K578.85K604.77K607.4K611.71K500.63K536.44K766.6K1.37M
Basic Shares Outstanding
19.88K578.85K604.77K607.4K611.71K500.63K536.44K766.6K1.37M
Dividend Payout Ratio
---------

SPRB Balance Sheet

Spruce Biosciences, Inc. (SPRB) balance sheet — assets, liabilities & shareholders' equity

MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
4.77M4.65M160.4M91.89M83.61M102.18M44.21M52.11M55.03M
Cash & Short-Term Investments
4.11M3.92M157.15M88.97M79.08M96.34M38.75M48.91M54.08M
Cash Only
4.11M3.92M157.15M42.75M24.49M96.34M38.75M48.91M54.08M
Short-Term Investments
00046.22M54.59M0000
Accounts Receivable
000000000
Days Sales Outstanding
---------
Inventory
000000000
Days Inventory Outstanding
---------
Other Current Assets
250K513K276K396K1.21M1.97M2.28M2.85M88K
Total Non-Current Assets
2K40K2.49M34.59M2.04M1.76M1M909K1.13M
Property, Plant & Equipment
001.87M1.48M1.4M1.18M934K666K595K
Fixed Asset Turnover
-----8.54x5.26x-0.00x
Goodwill
000000000
Intangible Assets
000000000
Long-Term Investments
00032.46M-54.54M000107K
Other Non-Current Assets
2K40K620K653K55.18M582K69K243K503K
Total Assets
4.78M▲ 0%
4.69M▼ 1.7%
162.88M▲ 3371.5%
126.49M▼ 22.3%
85.65M▼ 32.3%
103.95M▲ 21.4%
45.21M▼ 56.5%
53.02M▲ 17.3%
56.17M▲ 0%
Asset Turnover
-----0.10x0.11x-0.00x
Asset Growth %
--1.74%3371.5%-22.35%-32.29%21.36%-56.51%17.28%-52.84%
Total Current Liabilities
2.71M4.3M9.76M8.87M12.45M24.46M15.25M10.09M11.78M
Accounts Payable
2.3M1.88M3.63M2.82M1.43M3.33M1.29M943K2.68M
Days Payables Outstanding
839.5K57.12K-------
Short-Term Debt
01.25M2.55M01.62M1.62M1.62M01.33M
Deferred Revenue (Current)
000004.91M000
Other Current Liabilities
0000011.25M882K1.77M7.13M
Current Ratio
1.76x1.08x16.43x10.36x6.72x4.18x2.90x5.17x4.67x
Quick Ratio
1.76x1.08x16.43x10.36x6.72x4.18x2.90x5.17x4.67x
Cash Conversion Cycle
---------
Total Non-Current Liabilities
19.87M31.03M3.69M6.24M4.71M2.97M1.14M419K9.73M
Long-Term Debt
03.19M1.92M4.88M3.29M1.72M124K05.46M
Capital Lease Obligations
001.65M1.29M1.26M1.02M736K419K1.83M
Deferred Tax Liabilities
000000000
Other Non-Current Liabilities
19.87M27.83M118K73K161K236K282K03.94M
Total Liabilities
22.58M35.33M13.46M15.12M17.16M27.44M16.39M10.51M21.52M
Total Debt
04.45M6.38M6.53M6.32M4.61M2.77M736K7.12M
Net Debt
-4.11M521K-150.77M-36.22M-18.17M-91.73M-35.99M-48.17M-46.96M
Debt / Equity
--0.04x0.06x0.09x0.06x0.10x0.02x0.21x
Debt / EBITDA
---------0.21x
Net Debt / EBITDA
--------1.38x
Interest Coverage
--200.35x-91.07x-121.59x-108.95x-98.21x-171.76x-431.96x-50.63x
Total Equity
-17.8M▲ 0%
-30.64M▼ 72.1%
149.43M▲ 587.7%
111.37M▼ 25.5%
68.49M▼ 38.5%
76.51M▲ 11.7%
28.82M▼ 62.3%
42.52M▲ 47.5%
34.65M▲ 0%
Equity Growth %
--72.1%587.73%-25.47%-38.51%11.71%-62.33%47.52%6.33%
Book Value per Share
-895.71-52.93247.08183.36111.96152.8253.7355.4625.25
Total Shareholders' Equity
-17.8M-30.64M149.43M111.37M68.49M76.51M28.82M42.52M34.65M
Common Stock
1K1K2K3K3K4K4K00
Retained Earnings
-18.21M-31.3M-60.84M-103.13M-149.31M-197.23M-250.27M-289.23M-301.5M
Treasury Stock
-411K00000000
Accumulated OCI
0-27.81M0-184K-558K0000
Minority Interest
000000000

SPRB Cash Flow Statement

Spruce Biosciences, Inc. (SPRB) cash flow — operating, investing & free cash flow history

MetricDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-8.57M-12.62M-27.52M-35.88M-41.68M-33.27M-55.96M-33.33M-29.33M
Operating CF Margin %
------329.81%-1139.56%--
Operating CF Growth %
--47.22%-118.11%-30.37%-16.18%20.17%-68.19%40.45%163.04%
Net Income
-9.86M-13.09M-29.54M-42.29M-46.18M-47.92M-53.04M-38.97M-37.19M
Depreciation & Amortization
1K12K36K68K429K70K46K21K15K
Stock-Based Compensation
101K196K755K3.96M04.62M5.35M2.57M2.03M
Deferred Taxes
000000000
Other Non-Cash Items
-1.59M066K434K2.94M-404K249K3.77M4.96M
Working Capital Changes
1.19M263K1.16M1.96M1.13M10.36M-8.57M-724K850K
Change in Receivables
000000000
Change in Inventory
000000000
Change in Payables
1.7M-226K3.73M-805K-1.4M1.91M-2.04M-352K764K
Cash from Investing
0-4K-74K-79.17M23.69M55.78M00-10K
Capital Expenditures
0-4K-74K-93K-8K-7K00-10K
CapEx % of Revenue
-----0.07%---
Acquisitions
000000000
Investments
---------
Other Investing
000000000
Cash from Financing
012.43M181.03M643K-241K49.14M-1.62M43.48M57.81M
Debt Issued (Net)
04.49M0220K0-1.62M-1.62M-2.06M14.55M
Equity Issued (Net)
07.94M180.98M0-201K53.62M246K50.07M50.08M
Dividends Paid
000000000
Share Repurchases
000000000
Other Financing
0051K423K-40K-2.85M-246K-4.53M-6.82M
Net Change in Cash
-8.57M▲ 0%
-188K▲ 97.8%
153.44M▲ 81718.1%
-114.4M▼ 174.6%
-18.05M▲ 84.2%
71.64M▲ 497.0%
-57.59M▼ 180.4%
10.15M▲ 117.6%
28.5M▲ 0%
Free Cash Flow
-8.57M▲ 0%
-12.62M▼ 47.3%
-27.59M▼ 118.6%
-35.97M▼ 30.4%
-41.69M▼ 15.9%
-33.28M▲ 20.2%
-55.96M▼ 68.2%
-33.33M▲ 40.4%
-29.34M▲ 0%
FCF Margin %
------329.88%-1139.56%--
FCF Growth %
--47.27%-118.63%-30.36%-15.9%20.17%-68.15%40.45%45.39%
FCF per Share
-431.20-21.80-45.63-59.22-68.16-66.48-104.32-43.47-21.38
FCF Conversion (FCF/Net Income)
0.87x0.95x0.93x0.85x0.90x0.69x1.06x0.86x0.79x
Interest Paid
020K0207K00000
Taxes Paid
000000000

SPRB Key Ratios

Spruce Biosciences, Inc. (SPRB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2019202020212022202320242025TTM
Return on Equity (ROE)
--49.73%-32.43%-51.35%-66.1%-100.7%-109.24%-155.4%
Return on Invested Capital (ROIC)
---85.49%-56.53%-222.24%--438.19%
Gross Margin
----100%100%--
Net Margin
-----474.96%-1079.94%--
Debt / Equity
-0.04x0.06x0.09x0.06x0.10x0.02x0.21x
Interest Coverage
-200.35x-91.07x-121.59x-108.95x-98.21x-171.76x-431.96x-50.63x
FCF Conversion
0.95x0.93x0.85x0.90x0.69x1.06x0.86x0.79x
Revenue Growth
------51.32%-100%-100%
Related:SPRB Dividend History·SPRB Revenue History·SPRB Price History·SPRB P/E History·SPRB Financial Ratios·SPRB Institutional Holders

SPRB SEC Filings & Documents

Spruce Biosciences, Inc. (SPRB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 13, 2026·SEC

Material company update

Apr 22, 2026·SEC

Material company update

Mar 20, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 9, 2026·SEC

FY 2025

Apr 15, 2025·SEC

FY 2024

Mar 18, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 13, 2026·SEC

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 14, 2025·SEC

SPRB Frequently Asked Questions

Spruce Biosciences, Inc. (SPRB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Spruce Biosciences, Inc. (SPRB) saw revenue decline by 100.0% over the past year.

Spruce Biosciences, Inc. (SPRB) reported a net loss of $37.2M for fiscal year 2025.

Dividend & Returns

Spruce Biosciences, Inc. (SPRB) has a return on equity (ROE) of -109.2%. Negative ROE indicates the company is unprofitable.

Spruce Biosciences, Inc. (SPRB) had negative free cash flow of $29.3M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in SPRB back in 2018?

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