Revenue has experienced a total contraction to zero in the most recent three quarters, while fixed R&D intensity remains elevated at $20.5 million in 2024Q3.
Syros Pharmaceuticals, Inc. (SYRS) annual income statement — 11-year revenue, gross profit & net income history
| Metric | TTM | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Sales/Revenue | 386K | 9.94M | 14.88M | 23.49M | 15.09M | 1.98M | 2.05M | 1.1M | 317K | 317K | 0 | 0 |
| Revenue Growth % | -90.54% | -33.23% | -36.65% | 55.62% | 661.5% | -3.32% | 86.19% | 247.32% | 0% | - | - | - |
| Cost of Goods Sold | 1.27M | 2.25M | 2.97M | 0 | 0 | 0 | 0 | 1.53M | 0 | 602K | 0 | 0 |
| COGS % of Revenue | - | 22.67% | 19.94% | - | - | - | - | 138.69% | - | 189.91% | - | - |
| Gross Profit | -883K | 7.68M | 11.91M | 23.49M | 15.09M | 1.98M | 2.05M | -426K | 317K | -285K | 0 | 0 |
| Gross Margin % | -228.76% | 77.33% | 80.06% | 100% | 100% | 100% | 100% | -38.69% | 100% | -89.91% | - | - |
| Gross Profit Growth % | - | -35.5% | -49.28% | 55.62% | 661.5% | -3.32% | 581.22% | -234.38% | 211.23% | - | - | - |
| Operating Expenses | 111.3M | 30.77M | 38.81M | 122.91M | 97.39M | 79.72M | 66.35M | 55.79M | 48.28M | 30.14M | 13.44M | 8.66M |
| OpEx % of Revenue | - | 309.69% | 260.81% | 523.28% | 645.27% | 4022.35% | 3236.39% | 5066.94% | 15230.28% | 9506.94% | - | - |
| Selling, General & Admin | 23.27M | 28.28M | 29.3M | 23.04M | 21.32M | 21.48M | 16.16M | 13.89M | 10.46M | 5.73M | 2.51M | 2.37M |
| SG&A % of Revenue | - | 284.64% | 196.9% | 98.08% | 141.29% | 1083.65% | 788.49% | 1261.67% | 3300.63% | 1807.26% | - | - |
| Research & Development | 88.03M | 108.15M | 111.94M | 99.87M | 76.06M | 58.24M | 50.18M | 41.9M | 37.82M | 24.41M | 10.92M | 6.27M |
| R&D % of Revenue | - | 1088.5% | 752.31% | 425.2% | 503.98% | 2938.7% | 2447.9% | 3805.27% | 11929.65% | 7699.68% | - | - |
| Other Operating Expenses | 0 | -105.66M | -102.43M | 0 | 0 | 0 | 0 | 676K | 220K | 2K | 4K | 0 |
| Operating Income | -111.52M | -128.99M | -135.87M | -99.42M | -82.3M | -77.74M | -64.3M | -54.69M | -47.96M | -29.82M | -13.44M | -8.63M |
| Operating Margin % | -28892.23% | -1298.19% | -913.13% | -423.28% | -545.27% | -3922.35% | -3136.39% | -4966.94% | -15130.28% | -9406.94% | - | - |
| Operating Income Growth % | - | 5.07% | -36.67% | -20.81% | -5.86% | -20.91% | -17.57% | -14.02% | -60.84% | -121.96% | -55.62% | - |
| EBITDA | -110.25M | -126.74M | -132.91M | -96.4M | -79.26M | -75.02M | -62.69M | -53.16M | -46.69M | -29.22M | -13.18M | -8.46M |
| EBITDA Margin % | -28563.47% | -1275.52% | -893.19% | -410.43% | -525.16% | -3785.02% | -3058.15% | -4828.25% | -14728.71% | -9217.03% | - | - |
| EBITDA Growth % | 18.39% | 4.64% | -37.87% | -21.62% | -5.66% | -19.66% | -17.93% | -13.86% | -59.8% | -121.73% | -55.7% | - |
| D&A (Non-Cash Add-back) | 1.27M | 2.25M | 2.97M | 3.02M | 3.04M | 2.72M | 1.6M | 1.53M | 1.27M | 602K | 258K | 170K |
| EBIT | -92.48M | -159.45M | -90.52M | -82.65M | -82.25M | -75.44M | -62.28M | -54.69M | -47.96M | -29.82M | -13.44M | -8.63M |
| Net Interest Income | -623K | 1.69M | -2M | -3.82M | -1.37M | 2.3M | 2.02M | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 4.71M | 6.82M | 2.13M | 87K | 426K | 2.3M | 2.02M | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 5.33M | 5.13M | 4.13M | 3.91M | 1.79M | 0 | 1K | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 13.84M | -35.59M | 41.22M | 12.86M | -1.74M | 2.3M | 2.02M | 676K | 220K | 2K | 4K | -32K |
| Pretax Income | -97.81M | -164.57M | -94.65M | -86.56M | -84.04M | -75.44M | -62.28M | -54.01M | -47.74M | -29.82M | -13.43M | -8.66M |
| Pretax Margin % | -25340.67% | -1656.34% | -636.12% | -368.52% | -556.8% | -3806.16% | -3038% | -4905.54% | -15060.88% | -9406.31% | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -97.81M | -164.57M | -94.65M | -86.56M | -84.04M | -75.44M | -62.28M | -54.01M | -47.74M | -29.82M | -13.43M | -9.26M |
| Net Margin % | -25340.67% | -1656.34% | -636.12% | -368.52% | -556.8% | -3806.16% | -3038% | -4905.54% | -15060.88% | -9406.31% | - | - |
| Net Income Growth % | -53.44% | -73.87% | -9.35% | -3% | -11.4% | -21.13% | -15.31% | -13.13% | -60.11% | -122.01% | -45.06% | - |
| Net Income (Continuing) | -97.81M | -164.57M | -94.65M | -86.56M | -84.04M | -75.44M | -62.28M | -54.01M | -47.74M | -29.82M | -13.43M | -8.66M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.49 | -5.81 | -7.49 | -13.84 | -18.25 | -18.76 | -19.07 | -21.26 | -37.60 | -120.45 | -54.25 | -84.47 |
| EPS Growth % | -32.68% | 22.43% | 45.88% | 24.16% | 2.72% | 1.63% | 10.3% | 43.46% | 68.78% | -122.03% | 35.78% | - |
| EPS (Basic) | - | -5.81 | -7.49 | -13.84 | -18.25 | -18.76 | -19.07 | -21.26 | -37.60 | -120.45 | -54.25 | -84.47 |
| Diluted Shares Outstanding | 39.34M | 28.33M | 12.63M | 6.25M | 4.61M | 4.02M | 3.27M | 2.54M | 1.27M | 247.56K | 247.56K | 109.62K |
| Basic Shares Outstanding | 39.27M | 28.33M | 12.63M | 6.25M | 4.61M | 4.02M | 3.27M | 2.54M | 1.27M | 247.56K | 247.56K | 109.62K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying SYRS stock.
For fiscal year 2023, Syros Pharmaceuticals, Inc. (SYRS) reported total revenue of $9.9M.
Syros Pharmaceuticals, Inc. (SYRS) reported a net loss of $164.6M for the fiscal year ending 2023.
Syros Pharmaceuticals, Inc. (SYRS) reported an operating income of $-129.0M, resulting in an operating profit margin of -1298.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Syros Pharmaceuticals, Inc. (SYRS) generated $7.7M in gross profit for the year, representing a gross profit margin of 77.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Clinical Trial Failure Risk
Metrics are mathematically derived from official filings.
Revenue Erosion From Milestone Lulls
As reported in recent financial statements, Syros Pharmaceuticals has experienced a complete cessation of revenue in the most recent three quarters, reflecting the highly volatile nature of milestone-based income compared to the $3.9 million generated in the third quarter of 2022, signaling significant top-line instability.
The absence of revenue suggests that the company is currently between major collaboration milestones, leaving the firm entirely dependent on existing cash reserves to fund operations. Investors should interpret this revenue void as a reflection of the inherent lumpiness in biotech licensing models rather than a permanent loss of commercial potential.
Fixed R&D Intensity Remains Elevated
Based on reported figures, Syros maintains a rigid cost structure dominated by R&D expenditures, which averaged over $22 million per quarter throughout 2024, highlighting the company's commitment to late-stage clinical development despite the lack of offsetting commercial revenue streams to mitigate these ongoing operational outflows.
The consistency of these R&D costs indicates that the company is prioritizing its pipeline advancement over short-term expense discipline. This high fixed-cost burden necessitates successful clinical readouts to justify the continued capital intensity required to maintain its current research trajectory.
Operating Leverage Constrained By Burn
According to SEC filings, the company's operating losses have remained consistently deep, with quarterly operating losses frequently exceeding $25 million, which demonstrates a lack of operating leverage as the firm continues to scale its clinical trial infrastructure without a corresponding increase in sustainable, recurring revenue sources.
The persistent gap between operating expenses and revenue suggests that the company is currently in a high-risk phase where operational scale is decoupled from financial performance. Without a transition to product-based revenue, the firm remains structurally reliant on external financing to cover its substantial operating deficits.
Sustainability Risks Amid Cash Depletion
As indicated by the financial data, the company's reliance on non-recurring milestone payments creates a precarious financial profile, as the current cash burn rate may necessitate further dilutive equity offerings if the anticipated clinical milestones do not materialize within the expected timeframe for the firm's survival.
Short-term observers may focus on the potential for dilution as the primary risk to equity holders, given the lack of a self-sustaining business model. The absence of commercial revenue makes the company's valuation highly sensitive to any delays in the SELECT-MDS trial, which could exacerbate existing liquidity pressures.