The company has transitioned to a pre-revenue state, reporting zero revenue in 2026Q1 while sustaining $3.2 million in R&D expenses that underscore its clinical-stage focus.
| Sales/Revenue | 130K | 0 | 56K | 3.15M | 500K | 3.46M | 54K | 1.73M | 1.4M | 1.4M | 1.67M |
| Revenue Growth % | - | -100% | -98.22% | 530.6% | -85.57% | 6316.21% | -96.88% | 23.78% | -0.57% | -15.73% | - |
| Cost of Goods Sold | 34K | 0 | 194K | 90K | 0 | 3.8M | 1.28M | 998.5K | 841K | 685K | 911K |
| COGS % of Revenue | - | - | 346.43% | 2.85% | - | 109.64% | 2372.22% | 57.78% | 60.24% | 48.79% | 54.68% |
| Gross Profit | 96K | 0 | -138K | 3.06M | 500K | -333.84K | -1.23M | 729.5K | 555K | 719K | 755K |
| Gross Margin % | 73.85% | - | -246.43% | 97.15% | 100% | -9.64% | -2272.22% | 42.22% | 39.76% | 51.21% | 45.32% |
| Gross Profit Growth % | - | 100% | -104.51% | 512.6% | 249.77% | 72.79% | -268.2% | 31.44% | -22.81% | -4.77% | - |
| Operating Expenses | 24.54M | 24.02M | 16.91M | 6.19M | 2.77M | 1.3M | 9.18M | 13.29M | 11M | 9.14M | 13.49M |
| OpEx % of Revenue | - | - | 30196.43% | 196.38% | 554.07% | 37.45% | 17000% | 769.01% | 787.97% | 650.71% | 809.96% |
| Selling, General & Admin | 11.17M | 11M | 9.43M | 3.89M | 1.29M | 1.3M | 5.6M | 7.94M | 5.65M | 3.87M | 5.62M |
| SG&A % of Revenue | - | - | 16839.29% | 123.5% | 257.76% | 37.45% | 10366.67% | 459.64% | 404.51% | 275.57% | 337.46% |
| Research & Development | 13.4M | 13.15M | 7.48M | 2.39M | 1.57M | 3.8M | 3.58M | 5.35M | 5.35M | 5.27M | 7.87M |
| R&D % of Revenue | - | - | 13357.14% | 75.74% | 314.62% | 109.64% | 6633.33% | 309.38% | 383.45% | 375.14% | 472.51% |
| Other Operating Expenses | -16K | -130K | 0 | -90K | -91.5K | -3.8M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -24.44M | -24.02M | -17.05M | -3.13M | -2.27M | -1.63M | -10.41M | -12.56M | -10.45M | -8.42M | -12.74M |
| Operating Margin % | -18803.08% | - | -30442.86% | -99.24% | -454.07% | -47.09% | -19272.22% | -726.79% | -748.21% | -599.5% | -764.65% |
| Operating Income Growth % | - | -40.91% | -444.84% | -37.82% | -39.16% | 84.32% | 17.14% | -20.24% | -24.09% | 33.93% | - |
| EBITDA | -24.37M | -23.95M | -16.85M | -3.04M | -2.21M | -1.6M | -9.15M | -11.61M | -9.91M | -7.74M | -11.89M |
| EBITDA Margin % | -18746.15% | - | -30096.43% | -96.38% | -441.82% | -46.13% | -16948.15% | -671.76% | -709.89% | -550.93% | -713.93% |
| EBITDA Growth % | -19.47% | -42.1% | -454.59% | -37.57% | -38.23% | 82.54% | 21.16% | -17.13% | -28.12% | 34.97% | - |
| D&A (Non-Cash Add-back) | 74K | 73K | 194K | 90K | 61.27K | 33.37K | 1.25M | 951K | 535K | 682K | 845K |
| EBIT | -20.44M | -18.98M | -10.68M | 5.83M | -2.67M | -1.26M | -9.99M | -12.24M | -7.73M | -8.42M | -12.74M |
| Net Interest Income | -24K | -213K | -526K | -558K | -14.12K | 7.76K | -404K | 29K | 116K | -12K | -25K |
| Interest Income | 0 | 0 | 0 | 0 | 1.76K | 10.86K | 0 | 29K | 116K | 0 | 0 |
| Interest Expense | 24K | 213K | 526K | 558K | 15.88K | 3.09K | 404K | 0 | 0 | 12K | 25K |
| Other Income/Expense | 3.18M | 4.83M | 5.84M | 8.4M | -411.74K | 366.81K | 8K | 323K | 2.71M | 1.78M | -4.62M |
| Pretax Income | -21.27M | -19.2M | -11.21M | 5.27M | -2.68M | -1.26M | -10.4M | -12.24M | -7.73M | -6.64M | -17.36M |
| Pretax Margin % | -16358.46% | - | -20012.5% | 167.11% | -536.42% | -36.5% | -19257.41% | -708.1% | -553.8% | -472.72% | -1041.72% |
| Income Tax | 25K | 18K | 0 | 0 | 0 | 0 | 0 | 148K | 0 | 0 | 0 |
| Effective Tax Rate % | -0.12% | -0.09% | 0% | 0% | 0% | 0% | 0% | -1.21% | 0% | 0% | 0% |
| Net Income | -21.27M | -19.18M | -11.14M | 5.27M | -2.68M | -1.26M | -10.87M | -12.15M | -7.5M | -6.58M | -15.49M |
| Net Margin % | -16359.23% | - | -19894.64% | 167.11% | -536.42% | -36.5% | -20120.37% | -703.36% | -537.39% | -468.66% | -929.89% |
| Net Income Growth % | -2164.86% | -72.17% | -311.44% | 296.45% | -112.07% | 88.36% | 10.61% | -62.01% | -14.01% | 57.53% | - |
| Net Income (Continuing) | -21.29M | -19.21M | -11.21M | 5.27M | -2.68M | -1.26M | -10.4M | -12.38M | -7.73M | -6.64M | -17.36M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | -471K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -133K | 0 | -103K | -43K | -280K | 399K | 784K | 1.04M | 1.04M |
| EPS (Diluted) | -1.77 | -1.91 | -1.51 | 0.63 | -2.49 | -0.59 | -10.14 | -11.47 | -7.56 | -6.46 | -15.21 |
| EPS Growth % | -1870% | -26.49% | -339.68% | 125.3% | -322.03% | 94.18% | 11.6% | -51.72% | -17.03% | 57.53% | - |
| EPS (Basic) | - | -1.91 | -1.51 | 0.63 | -2.49 | -0.59 | -10.14 | -11.47 | -7.56 | -6.46 | -15.21 |
| Diluted Shares Outstanding | 12.05M | 10.19M | 7.36M | 8.41M | 1.08M | 1.08M | 1.07M | 1.06M | 992.72K | 1.02M | 1.02M |
| Basic Shares Outstanding | 12.05M | 10.19M | 7.36M | 8.41M | 1.08M | 1.08M | 1.07M | 1.06M | 992.72K | 1.02M | 1.02M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution
As indicated by the most recent quarterly filings, Serina Therapeutics has effectively transitioned to a pre-revenue state, with the -100% year-over-year growth trend highlighting the company's current reliance on R&D milestones rather than commercial product sales to drive its long-term financial trajectory.
The absence of consistent revenue streams suggests that the company is currently prioritizing the advancement of its POZ platform over commercialization efforts. Investors should monitor whether future licensing agreements or milestone payments can provide the necessary capital to offset the lack of recurring transactional revenue.
Based on reported financial statements, the company's cost structure is heavily skewed toward research and development, which reached $3.2 million in 2026Q1, reflecting the high capital intensity required to advance clinical-stage neurology assets like SER 252 through the regulatory pipeline.
The consistent allocation of capital toward R&D, coupled with significant SG&A expenses, indicates a high fixed-cost burden that is not currently supported by operational income. This expense discipline appears to be driven by the necessity of clinical trial progression rather than administrative efficiency.
According to the provided income statement data, Serina Therapeutics exhibits a negative operating leverage profile, as the company continues to report operating losses of $6.3 million in 2026Q1 while lacking the gross profit generation required to scale its underlying business operations effectively.
The widening gap between R&D spending and the absence of gross profit suggests that the company remains in a deep investment phase. Without a clear path to revenue, the current operating structure appears to be entirely dependent on external financing to sustain its ongoing clinical activities.
As reported in recent financial disclosures, the company's cash position of approximately $3.056 million presents a significant risk, suggesting that the firm may face a liquidity crunch that could force dilutive equity financing or jeopardize the continuity of its clinical development programs.
While the POZ platform offers a compelling alternative to traditional PEGylation, the current cash runway appears insufficient to reach meaningful clinical readouts. Investors should consider that the market may be pricing the stock as a distressed asset, given the precarious balance between cash reserves and ongoing burn rates.
Quick answers to the most common questions about buying SER stock.
For fiscal year 2025, Serina Therapeutics, Inc. (SER) reported total revenue of $0.0M. This represents a 100.0% decline compared to $1.7M in 2016.
Serina Therapeutics, Inc. (SER) reported a net loss of $19.2M for the fiscal year ending 2025.