Revenue growth remains in a state of contraction, with the most recent quarterly figures showing a 15.2% year-over-year decline to $395,000 alongside highly volatile gross margins that reached a low of 6.9% in 2024Q4.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 |
|---|
| Sales/Revenue | 856K | 1.31M | 2.88M | 1.35M | 1.07M | 550K | 498K | 838K | 487K | 0 | 0 | 0 | 0 | 0 | 0 | 1.65M | 0 | 0 | 0 | 0 |
| Revenue Growth % | -34.46% | -54.64% | 113.73% | 26.01% | 94.36% | 10.44% | -40.57% | 72.07% | - | - | - | - | - | - | -100% | - | - | - | - | - |
| Cost of Goods Sold | 225K | 800K | 683K | 322K | 33K | 164K | 179K | 147K | 5K | 0 | 3.09K | 0 | 0 | 0 | 205.97K | 196.13K | 135.45K | 68.95K | 50.13K | 16.16K |
| COGS % of Revenue | 26.28% | 61.26% | 23.72% | 23.91% | 3.09% | 29.82% | 35.94% | 17.54% | 1.03% | - | - | - | - | - | - | 11.88% | - | - | - | - |
| Gross Profit | 631K | 506K | 2.2M | 1.02M | 1.04M | 386K | 319K | 691K | 482K | 0 | -3.09K | 0 | 0 | 0 | -205.97K | 1.45M | -135.45K | -68.95K | -50.13K | -16.16K |
| Gross Margin % | 73.72% | 38.74% | 76.28% | 76.09% | 96.91% | 70.18% | 64.06% | 82.46% | 98.97% | - | - | - | - | - | - | 88.12% | - | - | - | - |
| Gross Profit Growth % | 24.7% | -76.96% | 114.24% | -1.06% | 168.39% | 21% | -53.84% | 43.36% | - | 100% | - | - | - | 100% | -114.16% | 1173.88% | -96.45% | -37.53% | -210.28% | - |
| Operating Expenses | 9.38M | 7.82M | 7.97M | 8.4M | 5.77M | 2.55M | 4.11M | 9.29M | 5.75M | 2.03M | 2.6M | 1.81M | 2.46M | 3.58M | 3M | 4.52M | 2.15M | 4.34M | 5M | 1.65M |
| OpEx % of Revenue | 1095.79% | 598.93% | 276.8% | 623.98% | 539.57% | 463.82% | 824.9% | 1108.47% | 1181.31% | - | - | - | - | - | - | 273.98% | - | - | - | - |
| Selling, General & Admin | 5.44M | 5.8M | 6.13M | 6.27M | 3.64M | 1.72M | 2.4M | 5.81M | 3.74M | 1.29M | 804.12K | 1.32M | 567.7K | 1.25M | 1.04M | 888.46K | 1.03M | 1.51M | 2.48M | 456.02K |
| SG&A % of Revenue | 635.28% | 444.49% | 212.99% | 465.33% | 340.79% | 312.73% | 481.33% | 693.44% | 767.15% | - | - | - | - | - | - | 53.82% | - | - | - | - |
| Research & Development | 2.19M | 1.81M | 1.64M | 2.8M | 1.99M | 649K | 1.64M | 2.71M | 2.02M | 738.83K | 238.49K | 462.26K | 1.33M | 2.31M | 1.96M | 3.63M | 1.12M | 2.83M | 2.52M | 1.2M |
| R&D % of Revenue | 255.37% | 138.97% | 57% | 208.09% | 186.16% | 118% | 329.12% | 323.39% | 414.17% | - | - | - | - | - | - | 220.16% | - | - | - | - |
| Other Operating Expenses | 1.76M | 202K | 0 | 224K | 135K | 182K | 72K | 768K | 0 | 1.56K | 1.55M | 25.68K | 557.64K | 12.31K | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -8.75M | -7.32M | -5.77M | -7.38M | -5.77M | -3.29M | -4.11M | -9.71M | -5.75M | -2M | -2.55M | -1.78M | -379.61K | -3.49M | -3.21M | -3.07M | -2.29M | -4.41M | -5.05M | -1.67M |
| Operating Margin % | -1022.08% | -560.18% | -200.52% | -547.88% | -539.57% | -598.73% | -824.9% | -1159.19% | -1181.52% | - | - | - | - | - | - | -185.86% | - | - | - | - |
| Operating Income Growth % | -19.59% | -26.73% | 21.78% | -27.95% | -75.16% | 19.84% | 57.71% | -68.82% | -188.12% | 21.74% | -43.54% | -368.35% | 89.11% | -8.62% | -4.61% | -34.2% | 48.11% | 12.74% | -202.79% | - |
| EBITDA | -8.52M | -6.83M | -5.24M | -7.19M | -5.74M | -3.13M | -3.93M | -9.57M | -5.75M | -1.99M | -2.55M | -1.74M | -330.8K | -3.41M | -3M | -2.87M | -2.15M | -4.34M | -5M | -1.65M |
| EBITDA Margin % | -994.74% | -523.28% | -181.83% | -534% | -536.48% | -568.91% | -788.96% | -1141.65% | -1180.49% | - | - | - | - | - | - | -173.98% | - | - | - | - |
| EBITDA Growth % | -24.6% | -30.54% | 27.22% | -25.42% | -83.29% | 20.36% | 58.93% | -66.41% | -188.4% | 21.8% | -46.47% | -426.12% | 90.3% | -13.53% | -4.58% | -33.54% | 50.41% | 13.24% | -202.72% | - |
| D&A (Non-Cash Add-back) | 234K | 482K | 538K | 187K | 33K | 164K | 179K | 147K | 5K | 3.65K | 2.82K | 37.49K | 48.81K | 76.29K | 205.97K | 196.13K | 135.45K | 68.95K | 50.13K | 16.16K |
| EBIT | -12.55M | -7.46M | -5.85M | -2.54M | -5.78M | -2.55M | -3.91M | -7.08M | -5.75M | -2.01M | -2.57M | -1.81M | 57.91K | -3.43M | -1.24M | -3.44M | -2.47M | -3.64M | -4.88M | -1.72M |
| Net Interest Income | 196K | 391K | -9K | 6.59M | 6K | 605K | -265K | 380K | -4K | -520 | 0 | -2.05K | -2.3K | 3.48K | 169.64K | -36.71K | 42.01K | 386.9K | 702.38K | 0 |
| Interest Income | 207K | 421K | 0 | 1.24M | 18K | 630K | 303K | 503K | 1K | 780 | 0 | 1.28K | 5.74K | 28.64K | 169.64K | 78.24K | 141.56K | 386.9K | 702.38K | 0 |
| Interest Expense | 11K | 30K | 9K | 36K | 12K | 25K | 568K | 123K | 5K | 1.3K | 0 | 3.34K | 8.04K | 25.16K | 0 | 114.94K | 99.55K | 0 | 0 | 0 |
| Other Income/Expense | -3.81M | -170K | -88K | 4.8M | -21K | -242K | -371K | 1.22M | -490K | -7.94K | -42.27K | -95.84K | 441.26K | 52.14K | 1.97M | -482.01K | -279.56K | 764.87K | 165.5K | -54.53K |
| Pretax Income | -12.56M | -7.49M | -5.86M | -2.58M | -5.79M | -3.54M | -4.48M | -9.01M | -6.24M | -2M | -2.61M | -1.87M | 60.01K | -3.54M | -1.24M | -3.55M | -2.57M | -3.64M | -4.88M | -1.72M |
| Pretax Margin % | -1467.76% | -573.2% | -203.58% | -191.39% | -541.53% | -642.73% | -899.4% | -1075.06% | -1282.14% | - | - | - | - | - | - | -215.06% | - | - | - | - |
| Income Tax | 0 | -14K | 22K | 14K | 0 | 0 | 0 | -60K | 0 | -6.76K | -21.77K | 72.93K | -439.05K | 58.62K | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0.19% | -0.38% | -0.54% | 0% | 0% | 0% | 0.67% | 0% | 0.34% | 0.84% | -3.89% | -731.58% | -1.65% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -12.18M | -6.28M | -5.12M | -2.59M | -5.8M | -3.51M | -5.36M | -8.52M | -6.24M | -1.99M | -2.53M | -1.85M | 59.44K | -3.54M | -3.72M | -3.55M | -2.57M | -3.64M | -4.88M | -1.72M |
| Net Margin % | -1422.78% | -481.16% | -177.91% | -192.43% | -542.66% | -637.64% | -1076.71% | -1017.06% | -1282.14% | - | - | - | - | - | - | -215.06% | - | - | - | - |
| Net Income Growth % | -93.81% | -22.69% | -97.61% | 55.32% | -65.41% | 34.6% | 37.09% | -36.5% | -213.72% | 21.34% | -36.71% | -3213.78% | 101.68% | 4.68% | -4.75% | -38.37% | 29.53% | 25.44% | -183.59% | - |
| Net Income (Continuing) | -12.56M | -7.47M | -5.88M | -2.59M | -5.79M | -3.54M | -4.48M | -6.53M | -6.24M | -2.01M | -2.57M | -1.94M | 57.9K | -3.43M | -1.24M | -3.55M | -2.57M | -3.64M | -4.88M | -1.72M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | -315K | -2.42M | 0 | 0 | -10.81K | 67.99K | 2.09K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 908K | 785K | 1.97M | 0 | 0 | 0 | 0 | -108K | 261K | 0 | -155.5K | -79.61K | -64.61K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -882.64 | -9.72 | -649.35 | -666.90 | -3311.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -37.35 | -1088.10 | -1227.15 | -946.80 | -1378.35 | -2070.00 | -751.95 |
| EPS Growth % | -8980.66% | 98.5% | 2.63% | 79.86% | - | - | - | - | - | - | - | - | 100% | 96.57% | 11.33% | -29.61% | 31.31% | 33.41% | -175.28% | - |
| EPS (Basic) | -882.64 | -9.72 | -112.95 | -132.57 | -659.52 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -7.47 | -217.62 | -245.43 | -189.36 | -275.67 | -414.00 | -150.39 |
| Diluted Shares Outstanding | 13.8M | 647.22K | 226.67K | 97.78K | 87.78K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.36M | 85.43K | 72.32K | 67.76K | 66.03K | 58.98K | 57.23K |
| Basic Shares Outstanding | 13.8M | 647.22K | 197.2K | 97.17K | 87.42K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.36M | 85.43K | 72.32K | 67.76K | 66.03K | 58.98K | 57.23K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical trial funding shortfall
As reported in recent financial filings, SciSparc's revenue has experienced a consistent downward trend, with the most recent quarterly figures showing a 15.2% year-over-year decline to $395,000, highlighting the difficulty in scaling its nascent nutraceutical commercialization efforts within a highly competitive and fragmented market landscape.
The persistent revenue decay suggests that the company's commercial partnerships, such as the agreement with Procaps, have yet to generate the necessary momentum to offset the decline in legacy product demand. Investors should monitor whether this contraction is a result of strategic pivots away from lower-margin products or a fundamental lack of market penetration for the CannAmide platform.
Based on the company's historical income statements, gross margins have fluctuated significantly, ranging from a low of 6.9% in 2024Q4 to a high of 97.0% in 2021Q4, indicating that the firm lacks a stable pricing power or a predictable cost-of-goods-sold structure for its commercial products.
This extreme volatility in gross margins suggests that the company's manufacturing and distribution costs are highly sensitive to volume fluctuations and potential supply chain inefficiencies. The inability to maintain consistent margins complicates the valuation of the commercial segment, as it remains unclear if the business can achieve sustainable unit economics at its current scale.
According to the provided quarterly data, SciSparc continues to prioritize clinical development over operational efficiency, with R&D expenditures consistently consuming a substantial portion of available resources while revenue remains insufficient to cover even basic operating expenses, leading to recurring and significant net losses.
The company's cost structure is heavily skewed toward clinical trial activities, which are essential for the long-term viability of the SCI-110 and SCI-210 pipelines but offer no immediate path to profitability. The reliance on equity-based financing to sustain these high operating costs appears to be the primary driver of shareholder dilution, warranting close scrutiny of future capital allocation decisions.
Analysis of the income statement reveals that the company's operating income is frequently distorted by non-operating items and significant fluctuations in SG&A, which, as noted in recent SEC filings, suggests that the underlying business model remains highly speculative and vulnerable to liquidity constraints.
Short-sellers would likely focus on the persistent gap between R&D spending and commercial revenue, which indicates that the company is effectively burning through its cash reserves without achieving clear clinical milestones. The lack of a consistent path to self-funding suggests that the company may face significant financing risks if it fails to secure a major pharmaceutical partnership in the near term.
Quick answers to the most common questions about buying SPRC stock.
For fiscal year 2025, SciSparc Ltd. (SPRC) reported total revenue of $0.9M.
SciSparc Ltd. (SPRC) reported a net loss of $12.2M for the fiscal year ending 2025.
SciSparc Ltd. (SPRC) reported an operating income of $-8.7M, resulting in an operating profit margin of -1022.1%. This margin reflects the operational efficiency of the business before interest and taxes.
SciSparc Ltd. (SPRC) generated $0.6M in gross profit for the year, representing a gross profit margin of 73.7%. This demonstrates the company's core pricing power and production efficiency.