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Spruce Biosciences, Inc.(SPRB)Earnings, Financials & Key Ratios
SPRB•NASDAQ
$57.87
$79M mkt cap·Price updated May 6, 2026
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%
- Debt/Equity0.02-82.0%
- Interest Coverage-405.70-136.2%
SPRB Key Insights
Spruce Biosciences, Inc. (SPRB) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Momentum leader: RS Rating 96 (top 4%)
- ✓Trading at only 1.0x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗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.
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-
TTM26.53%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM45.99%
Return on Capital
10 Years-242.2%
5 Years-70.31%
3 Years-90.3%
Last Year-100.18%
SPRB Peer Comparison
Spruce Biosciences, Inc. (SPRB) competitors in Commercial Rare Disease Biopharma — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CORT | 5.6B | 52.15 | 63.60 | 12.79% | 6.23% | 7.5% | 0.01 | |
 XNCR | 954.14M | 13.01 | -10.49 | 13.65% | -185.71% | -23.68% | 0.30 | |
 NTLA | 1.61B | 13.85 | -3.64 | -100% | -61.47% | 0.14 | ||
 RARE | 2.55B | 25.93 | -4.45 | 20.13% | -91.03% | -6.08% | ||
 ACRS | 575.99M | 4.78 | -9.02 | -58.19% | -8.3% | -62.98% | ||
 HRMY | 1.89B | 32.78 | 12.10 | 21.51% | 18.27% | 18.24% | 0.02 | |
 NKTR | 1.67B | 85.09 | -8.75 | -43.89% | -192.87% | -356.81% | 0.95 | |
 VNDA | 439.76M | 7.44 | -1.99 | 8.72% | -102.02% | -49.24% | 0.04 |
Compare SPRB vs Peers
Spruce Biosciences, Inc. (SPRB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SPRB Income Statement
Spruce Biosciences, Inc. (SPRB) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 10.09M | 4.91M | 0 |
| Revenue Growth % | - | - | - | - | - | - | -51.32% | -100% |
| Cost of Goods Sold | 1K | 12K | 0 | 0 | 0 | 0 | 0 | 21K |
| COGS % of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | -1K▲ 0% | -12K▼ 1100.0% | 0▲ 100.0% | 0▲ 0% | 0▲ 0% | 10.09M▲ 0% | 4.91M▼ 51.3% | -21K▼ 100.4% |
| Gross Margin % | - | - | - | - | - | 100% | 100% | - |
| Gross Profit Growth % | - | -1100% | 100% | - | - | - | -51.32% | -100.43% |
| Operating Expenses | 9.97M | 13.11M | 29.42M | 42.07M | 47.28M | 62.08M | 61.06M | 36.51M |
| OpEx % of Revenue | - | - | - | - | - | 615.34% | 1243.37% | - |
| Selling, General & Admin | 1.57M | 2.29M | 5.56M | 11.37M | 12.09M | 12.65M | 14.64M | 16.99M |
| SG&A % of Revenue | - | - | - | - | - | 125.38% | 298.19% | - |
| Research & Development | 8.4M | 10.82M | 23.85M | 30.7M | 35.2M | 49.43M | 46.42M | 19.52M |
| R&D % of Revenue | - | - | - | - | - | 489.96% | 945.18% | - |
| Other Operating Expenses | 0 | 84K | 0 | 0 | 0 | 0 | 0 | 0 |
| 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% |
| 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 |
| EBITDA Margin % | - | - | - | - | - | -514.65% | -1142.44% | - |
| EBITDA Growth % | - | -31.33% | -124.36% | -42.95% | -12.41% | -9.99% | -8.05% | 34.96% |
| D&A (Non-Cash Add-back) | 1K | 12K | 36K | 68K | 74K | 70K | 46K | 21K |
| EBIT | -9.86M | -13.02M | -29.42M | -41.95M | -45.76M | -47.44M | -52.73M | -36.51M |
| Net Interest Income | 0 | -46K | -200K | -226K | 1.1M | 4.07M | 3.12M | -90K |
| Interest Income | 0 | 19K | 123K | 119K | 1.52M | 4.56M | 3.42M | 0 |
| Interest Expense | 0 | 65K | 323K | 345K | 420K | 483K | 307K | 90K |
| Other Income/Expense | 114K | 19K | -123K | -226K | 1.1M | 4.07M | 3.12M | -2.45M |
| 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% |
| Pretax Margin % | - | - | - | - | - | -474.96% | -1079.94% | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 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% |
| Net Margin % | - | - | - | - | - | -474.96% | -1079.94% | - |
| Net Income Growth % | - | -34.28% | -123.15% | -43.17% | -9.19% | -3.77% | -10.68% | 26.53% |
| Net Income (Continuing) | -9.86M | -13.09M | -29.54M | -42.29M | -46.18M | -47.92M | -53.04M | -38.97M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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% |
| EPS Growth % | - | 95.35% | -116.67% | -40% | -5.49% | -29.17% | -4.03% | 47.46% |
| EPS (Basic) | -483.75 | -22.50 | -48.75 | -68.25 | -72.00 | -93.00 | -96.75 | -50.83 |
| Diluted Shares Outstanding | 19.88K | 578.85K | 604.77K | 607.4K | 611.71K | 500.63K | 536.44K | 766.6K |
| Basic Shares Outstanding | 19.88K | 578.85K | 604.77K | 607.4K | 611.71K | 500.63K | 536.44K | 766.6K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
SPRB Balance Sheet
Spruce Biosciences, Inc. (SPRB) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 4.77M | 4.65M | 160.4M | 91.89M | 83.61M | 102.18M | 44.21M | 52.11M |
| Cash & Short-Term Investments | 4.11M | 3.92M | 157.15M | 88.97M | 79.08M | 96.34M | 38.75M | 48.91M |
| Cash Only | 4.11M | 3.92M | 157.15M | 42.75M | 24.49M | 96.34M | 38.75M | 48.91M |
| Short-Term Investments | 0 | 0 | 0 | 46.22M | 54.59M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 250K | 513K | 276K | 396K | 1.21M | 1.97M | 2.28M | 3.21M |
| Total Non-Current Assets | 2K | 40K | 2.49M | 34.59M | 2.04M | 1.76M | 1M | 909K |
| Property, Plant & Equipment | 0 | 0 | 1.87M | 1.48M | 1.4M | 1.18M | 934K | 666K |
| Fixed Asset Turnover | - | - | - | - | - | 8.54x | 5.26x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 32.46M | -54.54M | 0 | 0 | 36K |
| Other Non-Current Assets | 2K | 40K | 620K | 653K | 55.18M | 582K | 69K | 207K |
| 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% |
| Asset Turnover | - | - | - | - | - | 0.10x | 0.11x | - |
| Asset Growth % | - | -1.74% | 3371.5% | -22.35% | -32.29% | 21.36% | -56.51% | 17.28% |
| Total Current Liabilities | 2.71M | 4.3M | 9.76M | 8.87M | 12.45M | 24.46M | 15.25M | 10.09M |
| Accounts Payable | 2.3M | 1.88M | 3.63M | 2.82M | 1.43M | 3.33M | 1.29M | 943K |
| Days Payables Outstanding | 839.5K | 57.12K | - | - | - | - | - | 16.39K |
| Short-Term Debt | 0 | 1.25M | 2.55M | 0 | 1.62M | 1.62M | 1.62M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 4.91M | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 11.25M | 882K | 8.83M |
| Current Ratio | 1.76x | 1.08x | 16.43x | 10.36x | 6.72x | 4.18x | 2.90x | 5.17x |
| Quick Ratio | 1.76x | 1.08x | 16.43x | 10.36x | 6.72x | 4.18x | 2.90x | 5.17x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 19.87M | 31.03M | 3.69M | 6.24M | 4.71M | 2.97M | 1.14M | 419K |
| Long-Term Debt | 0 | 3.19M | 1.92M | 4.88M | 3.29M | 1.72M | 124K | 419K |
| Capital Lease Obligations | 0 | 0 | 1.65M | 1.29M | 1.26M | 1.02M | 736K | 419K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 19.87M | 27.83M | 118K | 73K | 161K | 236K | 282K | 0 |
| Total Liabilities | 22.58M | 35.33M | 13.46M | 15.12M | 17.16M | 27.44M | 16.39M | 10.51M |
| Total Debt | 0 | 4.45M | 6.38M | 6.53M | 6.32M | 4.61M | 2.77M | 736K |
| Net Debt | -4.11M | 521K | -150.77M | -36.22M | -18.17M | -91.73M | -35.99M | -48.17M |
| Debt / Equity | - | - | 0.04x | 0.06x | 0.09x | 0.06x | 0.10x | 0.02x |
| Debt / EBITDA | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - |
| Interest Coverage | - | -200.35x | -91.07x | -121.59x | -108.95x | -98.21x | -171.76x | -405.70x |
| 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% |
| Equity Growth % | - | -72.1% | 587.73% | -25.47% | -38.51% | 11.71% | -62.33% | 47.52% |
| Book Value per Share | -895.71 | -52.93 | 247.08 | 183.36 | 111.96 | 152.82 | 53.73 | 55.46 |
| Total Shareholders' Equity | -17.8M | -30.64M | 149.43M | 111.37M | 68.49M | 76.51M | 28.82M | 42.52M |
| Common Stock | 1K | 1K | 2K | 3K | 3K | 4K | 4K | 0 |
| Retained Earnings | -18.21M | -31.3M | -60.84M | -103.13M | -149.31M | -197.23M | -250.27M | -289.23M |
| Treasury Stock | -411K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -27.81M | 0 | -184K | -558K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SPRB Cash Flow Statement
Spruce Biosciences, Inc. (SPRB) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -8.57M | -12.62M | -27.52M | -35.88M | -41.68M | -33.27M | -55.96M | -33.33M |
| Operating CF Margin % | - | - | - | - | - | -329.81% | -1139.56% | - |
| Operating CF Growth % | - | -47.22% | -118.11% | -30.37% | -16.18% | 20.17% | -68.19% | 40.45% |
| Net Income | -9.86M | -13.09M | -29.54M | -42.29M | -46.18M | -47.92M | -53.04M | -38.97M |
| Depreciation & Amortization | 1K | 12K | 36K | 68K | 429K | 70K | 46K | 21K |
| Stock-Based Compensation | 101K | 196K | 755K | 3.96M | 0 | 4.62M | 5.35M | 2.57M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -1.59M | 0 | 66K | 434K | 2.94M | -404K | 249K | 3.77M |
| Working Capital Changes | 1.19M | 263K | 1.16M | 1.96M | 1.13M | 10.36M | -8.57M | -724K |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 1.7M | -226K | 3.73M | -805K | -1.4M | 1.91M | -2.04M | -352K |
| Cash from Investing | 0 | -4K | -74K | -79.17M | 23.69M | 55.78M | 0 | 0 |
| Capital Expenditures | 0 | -4K | -74K | -93K | -8K | -7K | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | 0.07% | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 0 | 12.43M | 181.03M | 643K | -241K | 49.14M | -1.62M | 43.48M |
| Debt Issued (Net) | 0 | 4.49M | 0 | 220K | 0 | -1.62M | -1.62M | -2.06M |
| Equity Issued (Net) | 0 | 7.94M | 180.98M | 0 | -201K | 53.62M | 246K | 50.07M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 51K | 423K | -40K | -2.85M | -246K | -4.53M |
| 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% |
| 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% |
| FCF Margin % | - | - | - | - | - | -329.88% | -1139.56% | - |
| FCF Growth % | - | -47.27% | -118.63% | -30.36% | -15.9% | 20.17% | -68.15% | 40.45% |
| FCF per Share | -431.20 | -21.80 | -45.63 | -59.22 | -68.16 | -66.48 | -104.32 | -43.47 |
| FCF Conversion (FCF/Net Income) | 0.87x | 0.95x | 0.93x | 0.85x | 0.90x | 0.69x | 1.06x | 0.86x |
| Interest Paid | 0 | 20K | 0 | 207K | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SPRB Key Ratios
Spruce Biosciences, Inc. (SPRB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -49.73% | -32.43% | -51.35% | -66.1% | -100.7% | -109.24% |
| Return on Invested Capital (ROIC) | - | - | - | -85.49% | -56.53% | -222.24% | - | - |
| Gross Margin | - | - | - | - | - | 100% | 100% | - |
| Net Margin | - | - | - | - | - | -474.96% | -1079.94% | - |
| Debt / Equity | - | - | 0.04x | 0.06x | 0.09x | 0.06x | 0.10x | 0.02x |
| Interest Coverage | - | -200.35x | -91.07x | -121.59x | -108.95x | -98.21x | -171.76x | -405.70x |
| FCF Conversion | 0.87x | 0.95x | 0.93x | 0.85x | 0.90x | 0.69x | 1.06x | 0.86x |
| Revenue Growth | - | - | - | - | - | - | -51.32% | -100% |
SPRB SEC Filings & Documents
Spruce Biosciences, Inc. (SPRB) SEC filings — annual & quarterly reports (10-K, 10-Q)
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 $39.0M 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 $33.3M in fiscal year 2025, likely due to heavy capital investments.
Explore More SPRB
Spruce Biosciences, Inc. (SPRB) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates