Spero Therapeutics, Inc. (SPRO) 10-Year Financial Performance & Capital Metrics

SPRO •

HealthcareBiotechnologyVaccines and Infectious Disease

AboutSpero Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. The company's product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, a direct acting IV-administered agent to treat MDR Gram-negative bacterial infections in the hospital; and SPR720, an oral antibiotic for the treatment of non-tuberculous mycobacterial pulmonary disease. It has license agreement with Meiji Seika Pharma Co., Ltd. to support the development of tebipenem HBr; license agreement with Everest Medicines to develop, manufacture, and commercialize SPR206 in Greater China, South Korea, and Southeast Asian countries; collaboration agreement with Bill & Melinda Gates Medical Research Institute to develop SPR720 for the treatment of lung infections caused by Mycobacterium tuberculosis; and license agreement with Vertex Pharmaceuticals Incorporated for patents relating to SPR720, as well as SPR719, an active metabolite. The company was founded in 2013 and is headquartered in Cambridge, Massachusetts.Show more

Revenue $48M -53.8%
EBITDA -$73M -435.8%
Net Income -$69M -400.6%
EPS (Diluted) -1.27 -395.3%
Gross Margin -101.67% -301.6%
EBITDA Margin -152.9% -826.3%
Operating Margin -152.91% -838.7%
Net Margin -142.91% -750.3%
ROE -89.62% -459.2%
ROIC -327.16% -197.3%
Debt/Equity 0.09 +79.7%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 21.5%

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y21.46%

3Y150.01%

TTM-64.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1347.82%

EPS CAGR

10Y-

5Y-

3Y-

TTM-1243.29%

ROCE

10Y Avg-305.52%

5Y Avg-43.89%

3Y Avg-28.9%

Latest-70.98%

Peer Comparison

Vaccines and Infectious Disease

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
NVAXNovavax, Inc.	1.67B	10.14	3.93	64.69%	39.19%
SCNIScinai Immunotherapeutics Ltd.	3.03B	0.89	0.15		401.83%	58.65%		0.21
TNXPTonix Pharmaceuticals Holding Corp.	142.05M	13.97	-0.08	29.94%	-9.63%	-42.93%		0.04
INOInovio Pharmaceuticals, Inc.	65.34M	1.81	-0.46	-73.83%	-592.82%	-115.42%		0.17
IVVDInvivyd, Inc.	362.35M	1.69	-1.18		-119.63%	-64.32%		0.02
SPROSpero Therapeutics, Inc.	122.2M	2.17	-1.71	-53.77%	-122.56%	-165.46%		0.09
AVIRAtea Pharmaceuticals, Inc.	365.63M	4.68	-2.34			-46.56%		0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	335K	1.98M	3.97M	18.15M	9.33M	3.07M	48.58M	103.78M	47.98M
Revenue Growth %	-	-	490.75%	100.4%	357.56%	-48.59%	-67.1%	1482.38%	113.63%	-53.77%
Cost of Goods Sold+	11K	26.33M	32.87M	33.88M	65.78M	67M	0	0	51.44M	96.76M
COGS % of Revenue	-	7860.6%	1660.89%	854.39%	362.46%	718.15%	-	-	49.57%	201.67%
Gross Profit+	-11K	-26M	-30.89M	-29.92M	-47.63M	-57.67M	3.07M	48.58M	52.34M	-48.78M
Gross Margin %	-	-7760.6%	-1560.89%	-754.39%	-262.46%	-618.15%	100%	100%	50.43%	-101.67%
Gross Profit Growth %	-	-236245.45%	-18.82%	3.14%	-59.19%	-21.09%	105.32%	1482.38%	7.74%	-193.2%
Operating Expenses+	13.33M	33.56M	41.73M	42.81M	15.59M	21.44M	91.04M	90.78M	30.86M	24.58M
OpEx % of Revenue	-	10016.72%	2108.64%	1079.32%	85.9%	229.8%	2965.5%	186.86%	29.74%	51.23%
Selling, General & Admin	2.2M	7.22M	10.84M	12.89M	15.59M	21.44M	41.7M	36.48M	25.55M	23.7M
SG&A % of Revenue	-	2156.12%	547.75%	324.94%	85.9%	229.8%	1358.34%	75.1%	24.62%	49.41%
Research & Development	11.13M	26.33M	32.87M	33.88M	67.88M	69.4M	64.53M	47.59M	51.44M	96.76M
R&D % of Revenue	-	7860.6%	1660.89%	854.39%	374.03%	743.87%	2101.82%	97.97%	49.57%	201.67%
Other Operating Expenses	0	0	-4.37M	1.14M	-67.88M	-69.4M	-15.19M	6.7M	-46.13M	-95.88M
Operating Income+	-13.33M	-33.22M	-41.73M	-42.81M	-63.22M	-79.11M	-87.97M	-42.2M	21.48M	-73.36M
Operating Margin %	-	-9916.72%	-2108.64%	-1079.32%	-348.36%	-847.94%	-2865.5%	-86.86%	20.7%	-152.91%
Operating Income Growth %	-	-149.28%	-25.61%	-2.58%	-47.68%	-25.15%	-11.2%	52.03%	150.91%	-441.52%
EBITDA+	-13.32M	-32.94M	-41.37M	-42.4M	-62.47M	-78.35M	-87.33M	-41.33M	21.85M	-73.36M
EBITDA Margin %	-	-9833.43%	-2090.3%	-1069.01%	-344.22%	-839.79%	-2844.46%	-85.07%	21.05%	-152.9%
EBITDA Growth %	-	-147.39%	-25.58%	-2.49%	-47.34%	-25.43%	-11.45%	52.67%	152.86%	-435.77%
D&A (Non-Cash Add-back)	11K	279K	363K	409K	750K	761K	646K	869K	367K	2K
EBIT	-13.33M	-33.22M	-41.73M	-42.81M	-63.22M	-79.11M	-87.82M	-43.81M	26.79M	-72.48M
Net Interest Income+	0	0	0	841K	1.33M	401K	-1.59M	-1.5M	3.94M	4.74M
Interest Income	0	0	303K	1.14M	1.33M	401K	346K	1.11M	3.94M	4.74M
Interest Expense	0	0	303K	303K	0	0	1.94M	2.6M	0	0
Other Income/Expense	174K	580K	1.84M	1.14M	2.29M	833K	-1.78M	-4.22M	3.92M	4.79M
Pretax Income+	-13.15M	-32.64M	-46.1M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	25.4M	-68.57M
Pretax Margin %	-	-9743.58%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	24.48%	-142.91%
Income Tax+	0	0	-363K	0	0	0	0	0	2.6M	0
Effective Tax Rate %	77.2%	78.09%	100%	100%	100%	100%	100%	100%	89.77%	100%
Net Income+	-10.15M	-25.49M	-46.1M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Net Margin %	-	-7609.25%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	21.98%	-142.91%
Net Income Growth %	-	-151.04%	-80.84%	9.62%	-46.24%	-28.49%	-14.66%	48.29%	149.13%	-400.65%
Net Income (Continuing)	-13.15M	-32.64M	-39.89M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-453K	-3.81M	355K	355K	0	0	0	0	0	0
EPS (Diluted)+	-1.54	-3.86	-17.82	-2.60	-3.31	-3.52	-2.91	-1.23	0.43	-1.27
EPS Growth %	-	-150.65%	-361.66%	85.41%	-27.31%	-6.34%	17.33%	57.73%	134.96%	-395.35%
EPS (Basic)	-1.54	-3.86	-17.82	-2.60	-3.31	-3.52	-2.91	-1.23	0.43	-1.27
Diluted Shares Outstanding	6.6M	6.6M	2.59M	16M	18.16M	22.39M	30.9M	37.59M	52.99M	54.04M
Basic Shares Outstanding	6.6M	6.6M	2.59M	16M	18.16M	22.39M	30.9M	37.59M	52.7M	54.04M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	5.99M	11.87M	87.29M	115.44M	95.41M	139.15M	157.87M	109.11M	131.21M	107.28M
Cash & Short-Term Investments	5.69M	10.31M	87.29M	115.44M	82.05M	126.91M	146.4M	109.11M	76.33M	52.89M
Cash Only	5.69M	10.31M	87.29M	34.08M	29.73M	85.21M	112.58M	109.11M	76.33M	52.89M
Short-Term Investments	0	0	0	81.36M	52.31M	41.7M	33.82M	0	0	0
Accounts Receivable	10K	304K	2.94M	1.3M	10.25M	0	2.64M	1.08M	50.7M	52.48M
Days Sales Outstanding	-	331.22	542.8	119.46	206.08	-	314	8.14	178.3	399.23
Inventory	0	0	-4.77M	-8.78M	0	0	0	-4.46M	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	1.83M	7.48M	3.12M	6.18M	0	3.38M	4.18M	1.91M
Total Non-Current Assets+	1.19M	1.9M	6.19M	13.56M	10.69M	14.31M	13.2M	15.7M	51.18M	3.27M
Property, Plant & Equipment	949K	1.5M	1.16M	2.89M	7.15M	8.78M	7.56M	5.49M	4.16M	3.11M
Fixed Asset Turnover	-	0.22x	1.70x	1.37x	2.54x	1.06x	0.41x	8.85x	24.97x	15.41x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	50K	50K	50K	233K	21K	0	0	0	46.59M	0
Other Non-Current Assets	189K	350K	4.98M	10.44M	3.52M	5.52M	5.64M	10.2M	435K	153K
Total Assets+	7.18M	13.77M	93.48M	129.01M	106.1M	153.45M	171.07M	124.8M	182.39M	110.54M
Asset Turnover	-	0.02x	0.02x	0.03x	0.17x	0.06x	0.02x	0.39x	0.57x	0.43x
Asset Growth %	-	91.92%	578.76%	38.01%	-17.75%	44.62%	11.48%	-27.05%	46.14%	-39.39%
Total Current Liabilities+	6.42M	6.92M	8.16M	12.32M	26.66M	14.34M	18.67M	21.65M	37.15M	49.07M
Accounts Payable	1.79M	1.14M	3.47M	3.6M	4.15M	1.16M	1.1M	617K	1.38M	7.31M
Days Payables Outstanding	59.53K	15.79	38.53	38.81	23.01	6.29	-	-	9.78	27.56
Short-Term Debt	0	0	0	0	928K	0	0	0	1.72M	0
Deferred Revenue (Current)	512K	0	0	0	0	0	1.86M	10.37M	27.11M	22.12M
Other Current Liabilities	4.15M	3.7M	3.32M	6.34M	18.96M	0	0	0	3.22M	0
Current Ratio	0.93x	1.72x	10.70x	9.37x	3.58x	9.70x	8.46x	5.04x	3.53x	2.19x
Quick Ratio	0.93x	1.72x	11.29x	10.08x	3.58x	9.70x	8.46x	5.25x	3.53x	2.19x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.01M	493K	365K	833K	4.87M	7.07M	64.11M	27.22M	38.34M	15.35M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	4.62M	6.89M	5.97M	4.96M	3.83M	2.55M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.01M	493K	365K	833K	249K	177K	49.35M	96K	87K	576K
Total Liabilities	7.43M	7.41M	8.52M	13.15M	31.53M	21.41M	82.78M	48.87M	75.5M	64.42M
Total Debt+	0	0	0	0	5.54M	7.84M	7.33M	6.65M	5.54M	4.3M
Net Debt	-5.69M	-10.31M	-87.29M	-34.08M	-24.18M	-77.37M	-105.25M	-102.46M	-70.79M	-48.59M
Debt / Equity	-	-	-	-	0.07x	0.06x	0.08x	0.09x	0.05x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	0.25x	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-3.24x	-
Interest Coverage	-	-	-137.72x	-141.27x	-	-	-45.35x	-16.20x	-	-
Total Equity+	-257K	6.36M	85.31M	116.21M	74.57M	132.04M	88.29M	75.93M	106.89M	46.12M
Equity Growth %	-	2575.1%	1241.17%	36.22%	-35.83%	77.06%	-33.13%	-13.99%	40.77%	-56.85%
Book Value per Share	-0.04	0.96	32.98	7.26	4.11	5.90	2.86	2.02	2.02	0.85
Total Shareholders' Equity	196K	10.17M	84.96M	115.86M	74.57M	132.04M	88.29M	75.93M	106.89M	46.12M
Common Stock	0	7.92M	14K	17K	19K	29K	32K	52K	53K	55K
Retained Earnings	-18.1M	-45.44M	-96.84M	-138.5M	-199.43M	-277.71M	-367.46M	-413.88M	-391.07M	-459.64M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-11K	-290K	-643K	-28K	16K	-7K	-2K	0	0	0
Minority Interest	-453K	-3.81M	355K	355K	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.61M	-28.96M	-39.11M	-39.63M	-50.02M	-85.87M	-64.35M	-7.73M	-32.99M	-23.44M
Operating CF Margin %	-	-8644.48%	-1976.3%	-999.12%	-275.64%	-920.39%	-2095.99%	-15.91%	-31.79%	-48.87%
Operating CF Growth %	-	-201.41%	-35.06%	-1.31%	-26.23%	-71.68%	25.07%	87.99%	-326.79%	28.95%
Net Income	-13.15M	-32.64M	-39.89M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Depreciation & Amortization	11K	279K	363K	409K	750K	761K	1.12M	1.55M	367K	2K
Stock-Based Compensation	21K	180K	1.43M	2.75M	3.78M	4.89M	0	0	7.93M	7.79M
Deferred Taxes	-174K	-580K	83K	0	-808K	0	0	0	0	0
Other Non-Cash Items	3.52M	4.59M	-1.54M	-50K	356K	151K	11.43M	15.05M	6.28M	1.04M
Working Capital Changes	170K	-792K	443K	-1.07M	6.83M	-13.39M	12.86M	22.09M	-70.38M	36.28M
Change in Receivables	-10K	-294K	-2.52M	1.41M	-7.08M	2.18M	3.83M	1.55M	-461K	-1.54M
Change in Inventory	0	0	0	0	7.08M	0	0	0	0	0
Change in Payables	671K	-644K	2.35M	84K	564K	-2.98M	-53K	-484K	761K	5.93M
Cash from Investing+	-232K	-830K	-27K	-83.16M	29.53M	10.47M	7.67M	33.81M	0	0
Capital Expenditures	-232K	-830K	-27K	-2.44M	-314K	-157K	0	0	0	0
CapEx % of Revenue	-	247.76%	1.36%	61.42%	1.73%	1.68%	2095.99%	-	-	-
Acquisitions	0	0	-1.18M	83.16M	-29.84M	0	39K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-27K	-83.16M	29.84M	0	0	0	0	0
Cash from Financing+	15.28M	34.41M	116.11M	69.52M	16.14M	130.88M	84.05M	-29.55M	221K	0
Debt Issued (Net)	0	0	0	0	0	0	47.48M	-54.48M	0	0
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	221K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	7.95M	8.5M	-4.75M	-977K	350K	1.24M	0	0	0	0
Net Change in Cash	5.43M	4.62M	76.97M	-53.26M	-4.35M	55.48M	27.38M	-3.48M	-32.77M	-23.44M
Free Cash Flow+	-9.84M	-29.79M	-39.14M	-42.06M	-50.33M	-86.03M	0	-7.73M	-32.99M	-23.44M
FCF Margin %	-	-8892.24%	-1977.67%	-1060.54%	-277.37%	-922.07%	-	-15.91%	-31.79%	-48.87%
FCF Growth %	-	-202.73%	-31.38%	-7.47%	-19.67%	-70.92%	100%	-	-326.79%	28.95%
FCF per Share	-1.49	-4.51	-15.13	-2.63	-2.77	-3.84	-	-0.21	-0.62	-0.43
FCF Conversion (FCF/Net Income)	0.95x	1.14x	0.85x	0.95x	0.82x	1.10x	0.72x	0.17x	-1.45x	0.34x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	2.21M	99K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-835.22%	-100.57%	-41.35%	-63.87%	-75.77%	-81.47%	-56.53%	24.95%	-89.62%
Return on Invested Capital (ROIC)	-	-	-	-80.11%	-71.56%	-112.96%	-349.93%	-	336.41%	-327.16%
Gross Margin	-	-7760.6%	-1560.89%	-754.39%	-262.46%	-618.15%	100%	100%	50.43%	-101.67%
Net Margin	-	-7609.25%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	21.98%	-142.91%
Debt / Equity	-	-	-	-	0.07x	0.06x	0.08x	0.09x	0.05x	0.09x
Interest Coverage	-	-	-137.72x	-141.27x	-	-	-45.35x	-16.20x	-	-
FCF Conversion	0.95x	1.14x	0.85x	0.95x	0.82x	1.10x	0.72x	0.17x	-1.45x	0.34x
Revenue Growth	-	-	490.75%	100.4%	357.56%	-48.59%	-67.1%	1482.38%	113.63%	-53.77%

US Stock Screener

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Spero Therapeutics, Inc. (SPRO) 10-Year Financial Performance & Capital Metrics

SPRO •

HealthcareBiotechnologyVaccines and Infectious Disease

Revenue $48M -53.8%
EBITDA -$73M -435.8%
Net Income -$69M -400.6%
EPS (Diluted) -1.27 -395.3%
Gross Margin -101.67% -301.6%
EBITDA Margin -152.9% -826.3%
Operating Margin -152.91% -838.7%
Net Margin -142.91% -750.3%
ROE -89.62% -459.2%
ROIC -327.16% -197.3%
Debt/Equity 0.09 +79.7%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 21.5%

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y21.46%

3Y150.01%

TTM-64.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-1347.82%

EPS CAGR

10Y-

5Y-

3Y-

TTM-1243.29%

ROCE

10Y Avg-305.52%

5Y Avg-43.89%

3Y Avg-28.9%

Latest-70.98%

Peer Comparison

Vaccines and Infectious Disease

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
NVAXNovavax, Inc.	1.67B	10.14	3.93	64.69%	39.19%
SCNIScinai Immunotherapeutics Ltd.	3.03B	0.89	0.15		401.83%	58.65%		0.21
TNXPTonix Pharmaceuticals Holding Corp.	142.05M	13.97	-0.08	29.94%	-9.63%	-42.93%		0.04
INOInovio Pharmaceuticals, Inc.	65.34M	1.81	-0.46	-73.83%	-592.82%	-115.42%		0.17
IVVDInvivyd, Inc.	362.35M	1.69	-1.18		-119.63%	-64.32%		0.02
SPROSpero Therapeutics, Inc.	122.2M	2.17	-1.71	-53.77%	-122.56%	-165.46%		0.09
AVIRAtea Pharmaceuticals, Inc.	365.63M	4.68	-2.34			-46.56%		0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	335K	1.98M	3.97M	18.15M	9.33M	3.07M	48.58M	103.78M	47.98M
Revenue Growth %	-	-	490.75%	100.4%	357.56%	-48.59%	-67.1%	1482.38%	113.63%	-53.77%
Cost of Goods Sold+	11K	26.33M	32.87M	33.88M	65.78M	67M	0	0	51.44M	96.76M
COGS % of Revenue	-	7860.6%	1660.89%	854.39%	362.46%	718.15%	-	-	49.57%	201.67%
Gross Profit+	-11K	-26M	-30.89M	-29.92M	-47.63M	-57.67M	3.07M	48.58M	52.34M	-48.78M
Gross Margin %	-	-7760.6%	-1560.89%	-754.39%	-262.46%	-618.15%	100%	100%	50.43%	-101.67%
Gross Profit Growth %	-	-236245.45%	-18.82%	3.14%	-59.19%	-21.09%	105.32%	1482.38%	7.74%	-193.2%
Operating Expenses+	13.33M	33.56M	41.73M	42.81M	15.59M	21.44M	91.04M	90.78M	30.86M	24.58M
OpEx % of Revenue	-	10016.72%	2108.64%	1079.32%	85.9%	229.8%	2965.5%	186.86%	29.74%	51.23%
Selling, General & Admin	2.2M	7.22M	10.84M	12.89M	15.59M	21.44M	41.7M	36.48M	25.55M	23.7M
SG&A % of Revenue	-	2156.12%	547.75%	324.94%	85.9%	229.8%	1358.34%	75.1%	24.62%	49.41%
Research & Development	11.13M	26.33M	32.87M	33.88M	67.88M	69.4M	64.53M	47.59M	51.44M	96.76M
R&D % of Revenue	-	7860.6%	1660.89%	854.39%	374.03%	743.87%	2101.82%	97.97%	49.57%	201.67%
Other Operating Expenses	0	0	-4.37M	1.14M	-67.88M	-69.4M	-15.19M	6.7M	-46.13M	-95.88M
Operating Income+	-13.33M	-33.22M	-41.73M	-42.81M	-63.22M	-79.11M	-87.97M	-42.2M	21.48M	-73.36M
Operating Margin %	-	-9916.72%	-2108.64%	-1079.32%	-348.36%	-847.94%	-2865.5%	-86.86%	20.7%	-152.91%
Operating Income Growth %	-	-149.28%	-25.61%	-2.58%	-47.68%	-25.15%	-11.2%	52.03%	150.91%	-441.52%
EBITDA+	-13.32M	-32.94M	-41.37M	-42.4M	-62.47M	-78.35M	-87.33M	-41.33M	21.85M	-73.36M
EBITDA Margin %	-	-9833.43%	-2090.3%	-1069.01%	-344.22%	-839.79%	-2844.46%	-85.07%	21.05%	-152.9%
EBITDA Growth %	-	-147.39%	-25.58%	-2.49%	-47.34%	-25.43%	-11.45%	52.67%	152.86%	-435.77%
D&A (Non-Cash Add-back)	11K	279K	363K	409K	750K	761K	646K	869K	367K	2K
EBIT	-13.33M	-33.22M	-41.73M	-42.81M	-63.22M	-79.11M	-87.82M	-43.81M	26.79M	-72.48M
Net Interest Income+	0	0	0	841K	1.33M	401K	-1.59M	-1.5M	3.94M	4.74M
Interest Income	0	0	303K	1.14M	1.33M	401K	346K	1.11M	3.94M	4.74M
Interest Expense	0	0	303K	303K	0	0	1.94M	2.6M	0	0
Other Income/Expense	174K	580K	1.84M	1.14M	2.29M	833K	-1.78M	-4.22M	3.92M	4.79M
Pretax Income+	-13.15M	-32.64M	-46.1M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	25.4M	-68.57M
Pretax Margin %	-	-9743.58%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	24.48%	-142.91%
Income Tax+	0	0	-363K	0	0	0	0	0	2.6M	0
Effective Tax Rate %	77.2%	78.09%	100%	100%	100%	100%	100%	100%	89.77%	100%
Net Income+	-10.15M	-25.49M	-46.1M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Net Margin %	-	-7609.25%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	21.98%	-142.91%
Net Income Growth %	-	-151.04%	-80.84%	9.62%	-46.24%	-28.49%	-14.66%	48.29%	149.13%	-400.65%
Net Income (Continuing)	-13.15M	-32.64M	-39.89M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-453K	-3.81M	355K	355K	0	0	0	0	0	0
EPS (Diluted)+	-1.54	-3.86	-17.82	-2.60	-3.31	-3.52	-2.91	-1.23	0.43	-1.27
EPS Growth %	-	-150.65%	-361.66%	85.41%	-27.31%	-6.34%	17.33%	57.73%	134.96%	-395.35%
EPS (Basic)	-1.54	-3.86	-17.82	-2.60	-3.31	-3.52	-2.91	-1.23	0.43	-1.27
Diluted Shares Outstanding	6.6M	6.6M	2.59M	16M	18.16M	22.39M	30.9M	37.59M	52.99M	54.04M
Basic Shares Outstanding	6.6M	6.6M	2.59M	16M	18.16M	22.39M	30.9M	37.59M	52.7M	54.04M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	5.99M	11.87M	87.29M	115.44M	95.41M	139.15M	157.87M	109.11M	131.21M	107.28M
Cash & Short-Term Investments	5.69M	10.31M	87.29M	115.44M	82.05M	126.91M	146.4M	109.11M	76.33M	52.89M
Cash Only	5.69M	10.31M	87.29M	34.08M	29.73M	85.21M	112.58M	109.11M	76.33M	52.89M
Short-Term Investments	0	0	0	81.36M	52.31M	41.7M	33.82M	0	0	0
Accounts Receivable	10K	304K	2.94M	1.3M	10.25M	0	2.64M	1.08M	50.7M	52.48M
Days Sales Outstanding	-	331.22	542.8	119.46	206.08	-	314	8.14	178.3	399.23
Inventory	0	0	-4.77M	-8.78M	0	0	0	-4.46M	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	1.83M	7.48M	3.12M	6.18M	0	3.38M	4.18M	1.91M
Total Non-Current Assets+	1.19M	1.9M	6.19M	13.56M	10.69M	14.31M	13.2M	15.7M	51.18M	3.27M
Property, Plant & Equipment	949K	1.5M	1.16M	2.89M	7.15M	8.78M	7.56M	5.49M	4.16M	3.11M
Fixed Asset Turnover	-	0.22x	1.70x	1.37x	2.54x	1.06x	0.41x	8.85x	24.97x	15.41x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	50K	50K	50K	233K	21K	0	0	0	46.59M	0
Other Non-Current Assets	189K	350K	4.98M	10.44M	3.52M	5.52M	5.64M	10.2M	435K	153K
Total Assets+	7.18M	13.77M	93.48M	129.01M	106.1M	153.45M	171.07M	124.8M	182.39M	110.54M
Asset Turnover	-	0.02x	0.02x	0.03x	0.17x	0.06x	0.02x	0.39x	0.57x	0.43x
Asset Growth %	-	91.92%	578.76%	38.01%	-17.75%	44.62%	11.48%	-27.05%	46.14%	-39.39%
Total Current Liabilities+	6.42M	6.92M	8.16M	12.32M	26.66M	14.34M	18.67M	21.65M	37.15M	49.07M
Accounts Payable	1.79M	1.14M	3.47M	3.6M	4.15M	1.16M	1.1M	617K	1.38M	7.31M
Days Payables Outstanding	59.53K	15.79	38.53	38.81	23.01	6.29	-	-	9.78	27.56
Short-Term Debt	0	0	0	0	928K	0	0	0	1.72M	0
Deferred Revenue (Current)	512K	0	0	0	0	0	1.86M	10.37M	27.11M	22.12M
Other Current Liabilities	4.15M	3.7M	3.32M	6.34M	18.96M	0	0	0	3.22M	0
Current Ratio	0.93x	1.72x	10.70x	9.37x	3.58x	9.70x	8.46x	5.04x	3.53x	2.19x
Quick Ratio	0.93x	1.72x	11.29x	10.08x	3.58x	9.70x	8.46x	5.25x	3.53x	2.19x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.01M	493K	365K	833K	4.87M	7.07M	64.11M	27.22M	38.34M	15.35M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	4.62M	6.89M	5.97M	4.96M	3.83M	2.55M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.01M	493K	365K	833K	249K	177K	49.35M	96K	87K	576K
Total Liabilities	7.43M	7.41M	8.52M	13.15M	31.53M	21.41M	82.78M	48.87M	75.5M	64.42M
Total Debt+	0	0	0	0	5.54M	7.84M	7.33M	6.65M	5.54M	4.3M
Net Debt	-5.69M	-10.31M	-87.29M	-34.08M	-24.18M	-77.37M	-105.25M	-102.46M	-70.79M	-48.59M
Debt / Equity	-	-	-	-	0.07x	0.06x	0.08x	0.09x	0.05x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	0.25x	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-3.24x	-
Interest Coverage	-	-	-137.72x	-141.27x	-	-	-45.35x	-16.20x	-	-
Total Equity+	-257K	6.36M	85.31M	116.21M	74.57M	132.04M	88.29M	75.93M	106.89M	46.12M
Equity Growth %	-	2575.1%	1241.17%	36.22%	-35.83%	77.06%	-33.13%	-13.99%	40.77%	-56.85%
Book Value per Share	-0.04	0.96	32.98	7.26	4.11	5.90	2.86	2.02	2.02	0.85
Total Shareholders' Equity	196K	10.17M	84.96M	115.86M	74.57M	132.04M	88.29M	75.93M	106.89M	46.12M
Common Stock	0	7.92M	14K	17K	19K	29K	32K	52K	53K	55K
Retained Earnings	-18.1M	-45.44M	-96.84M	-138.5M	-199.43M	-277.71M	-367.46M	-413.88M	-391.07M	-459.64M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-11K	-290K	-643K	-28K	16K	-7K	-2K	0	0	0
Minority Interest	-453K	-3.81M	355K	355K	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.61M	-28.96M	-39.11M	-39.63M	-50.02M	-85.87M	-64.35M	-7.73M	-32.99M	-23.44M
Operating CF Margin %	-	-8644.48%	-1976.3%	-999.12%	-275.64%	-920.39%	-2095.99%	-15.91%	-31.79%	-48.87%
Operating CF Growth %	-	-201.41%	-35.06%	-1.31%	-26.23%	-71.68%	25.07%	87.99%	-326.79%	28.95%
Net Income	-13.15M	-32.64M	-39.89M	-41.66M	-60.92M	-78.28M	-89.76M	-46.41M	22.81M	-68.57M
Depreciation & Amortization	11K	279K	363K	409K	750K	761K	1.12M	1.55M	367K	2K
Stock-Based Compensation	21K	180K	1.43M	2.75M	3.78M	4.89M	0	0	7.93M	7.79M
Deferred Taxes	-174K	-580K	83K	0	-808K	0	0	0	0	0
Other Non-Cash Items	3.52M	4.59M	-1.54M	-50K	356K	151K	11.43M	15.05M	6.28M	1.04M
Working Capital Changes	170K	-792K	443K	-1.07M	6.83M	-13.39M	12.86M	22.09M	-70.38M	36.28M
Change in Receivables	-10K	-294K	-2.52M	1.41M	-7.08M	2.18M	3.83M	1.55M	-461K	-1.54M
Change in Inventory	0	0	0	0	7.08M	0	0	0	0	0
Change in Payables	671K	-644K	2.35M	84K	564K	-2.98M	-53K	-484K	761K	5.93M
Cash from Investing+	-232K	-830K	-27K	-83.16M	29.53M	10.47M	7.67M	33.81M	0	0
Capital Expenditures	-232K	-830K	-27K	-2.44M	-314K	-157K	0	0	0	0
CapEx % of Revenue	-	247.76%	1.36%	61.42%	1.73%	1.68%	2095.99%	-	-	-
Acquisitions	0	0	-1.18M	83.16M	-29.84M	0	39K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-27K	-83.16M	29.84M	0	0	0	0	0
Cash from Financing+	15.28M	34.41M	116.11M	69.52M	16.14M	130.88M	84.05M	-29.55M	221K	0
Debt Issued (Net)	0	0	0	0	0	0	47.48M	-54.48M	0	0
Equity Issued (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	221K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	7.95M	8.5M	-4.75M	-977K	350K	1.24M	0	0	0	0
Net Change in Cash	5.43M	4.62M	76.97M	-53.26M	-4.35M	55.48M	27.38M	-3.48M	-32.77M	-23.44M
Free Cash Flow+	-9.84M	-29.79M	-39.14M	-42.06M	-50.33M	-86.03M	0	-7.73M	-32.99M	-23.44M
FCF Margin %	-	-8892.24%	-1977.67%	-1060.54%	-277.37%	-922.07%	-	-15.91%	-31.79%	-48.87%
FCF Growth %	-	-202.73%	-31.38%	-7.47%	-19.67%	-70.92%	100%	-	-326.79%	28.95%
FCF per Share	-1.49	-4.51	-15.13	-2.63	-2.77	-3.84	-	-0.21	-0.62	-0.43
FCF Conversion (FCF/Net Income)	0.95x	1.14x	0.85x	0.95x	0.82x	1.10x	0.72x	0.17x	-1.45x	0.34x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	2.21M	99K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-835.22%	-100.57%	-41.35%	-63.87%	-75.77%	-81.47%	-56.53%	24.95%	-89.62%
Return on Invested Capital (ROIC)	-	-	-	-80.11%	-71.56%	-112.96%	-349.93%	-	336.41%	-327.16%
Gross Margin	-	-7760.6%	-1560.89%	-754.39%	-262.46%	-618.15%	100%	100%	50.43%	-101.67%
Net Margin	-	-7609.25%	-2329.31%	-1050.48%	-335.73%	-839.01%	-2923.65%	-95.55%	21.98%	-142.91%
Debt / Equity	-	-	-	-	0.07x	0.06x	0.08x	0.09x	0.05x	0.09x
Interest Coverage	-	-	-137.72x	-141.27x	-	-	-45.35x	-16.20x	-	-
FCF Conversion	0.95x	1.14x	0.85x	0.95x	0.82x	1.10x	0.72x	0.17x	-1.45x	0.34x
Revenue Growth	-	-	490.75%	100.4%	357.56%	-48.59%	-67.1%	1482.38%	113.63%	-53.77%

Spero Therapeutics, Inc. (SPRO) 10-Year Financial Performance & Capital Metrics

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Spero Therapeutics, Inc. (SPRO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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