SEPN financial statements
The full income statement, balance sheet, and cash-flow statement for Septerna Inc. (SEPN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Revenue | 46.0M+4174.5% | 1.07M+611.9% | 151K | |
| 114M+39.5% | 81.9M+4356.7% | -1.92M | ||
| Research & development | 97.6M+49.4% | 65.3M+81.6% | 36.0M | |
| Selling, general & administrative | 29.2M+76.1% | 16.6M+70.3% | 9.72M | |
| General & administrative | 29.2M+76.1% | 16.6M+70.3% | 9.72M | |
| Operating income | -68.3M+15.5% | -80.8M-3995.1% | 2.08M | |
| Interest & investment income | 19.5M+126.6% | 8.62M+209.3% | 2.79M | |
| Other non-operating income | -100K-11.1% | -90.0K-1000.0% | 10.0K | |
| Pre-tax income | -48.9M+32.4% | -72.3M-47.9% | -48.9M | |
| Income tax | 12.0K+102.4% | -498K-172.1% | 691K | |
| -48.9M+31.9% | -71.8M-1817.7% | 4.18M | ||
| Net income to common | — | -71.8M-12762.8% | 567K | |
| -$1.10+84.8% | -$7.26-2603.4% | $0.29 | ||
| EPS (basic) | -$1.10+84.8% | -$7.26-2603.4% | $0.29 | |
| Weighted-avg shares (basic) | 44.3M+347.5% | 9.89M+412.9% | 1.93M | |
| Weighted-avg shares (diluted) | 44.3M+347.5% | 9.89M+354.3% | 2.18M | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 411M+15.2% | 357M+216.7% | 113M | ||
| Cash & equivalents | 121M-49.3% | 238M+169.2% | 88.5M | |
| Short-term investments | 270M+139.8% | 113M | 0.00 | |
| Accounts receivable | 10.4M+5956.1% | 171K+13.2% | 151K | |
| Prepaid expenses | 9.52M+66.1% | 5.73M+303.8% | 1.42M | |
| Other current assets | 1.15M+382.0% | 239K+159.8% | 92.0K | |
| 596M+30.6% | 457M+248.9% | 131M | ||
| Property, plant & equipment | 4.43M-12.9% | 5.09M+9.1% | 4.67M | |
| Operating lease right-of-use | 21.5M-8.9% | 23.6M+88.5% | 12.5M | |
| Long-term investments | 158M+125.5% | 69.9M | 0.00 | |
| Other non-current assets | 816K+205.6% | 267K+175.3% | 97.0K | |
| 86.9M+576.6% | 12.8M+85.8% | 6.91M | ||
| Accounts payable | 10.3M+221.3% | 3.20M+21.4% | 2.64M | |
| Accrued liabilities | 12.2M+56.0% | 7.80M+82.3% | 4.28M | |
| Deferred revenue | 62.3M | 0.00 | — | |
| Current lease liability | 2.21M+19.5% | 1.85M | 0.00 | |
| 214M+486.9% | 36.5M+82.3% | 20.0M | ||
| Deferred revenue (non-current) | 106M | 0.00 | — | |
| Non-current lease liability | 21.4M-9.4% | 23.6M+88.0% | 12.6M | |
| Operating lease liability (total) | 23.6M-7.3% | 25.5M | — | |
| Other non-current liabilities | 0.00-100.0% | 33.0K-94.0% | 546K | |
| 382M-9.1% | 420M+1194.6% | -38.4M | ||
| Common stock | 45.0K+2.3% | 44.0K+1366.7% | 3.00K | |
| Additional paid-in capital | 549M+1.9% | 538M+6465.7% | 8.20M | |
| Retained earnings | -167M-41.3% | -118M-154.2% | -46.6M | |
| Accumulated other comprehensive income | 617K+1001.8% | 56.0K | 0.00 | |
| Total liabilities & equity | 596M+30.6% | 457M+248.9% | 131M | |
| Common shares issued | 44.8M+0.9% | 44.4M+1302.2% | 3.17M | |
| Common shares outstanding | 44.8M+0.9% | 44.4M+1302.2% | 3.17M | |
| Shares outstanding (cover) | 44.9M+1.0% | 44.4M | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| 110M+263.3% | -67.5M-74.2% | -38.7M | ||
| Depreciation & amortization | 1.60M+14.3% | 1.40M+75.0% | 800K | |
| Share-based compensation | 8.48M+168.9% | 3.15M+94.6% | 1.62M | |
| Deferred income taxes | 0.00+100.0% | -491K-200.0% | 491K | |
| Change in receivables | 10.2M+50825.0% | 20.0K-86.8% | 151K | |
| Change in payables | 6.60M+813.3% | 723K+210.7% | -653K | |
| -229M-42.8% | -161M-826.0% | 22.1M | ||
| Capital expenditure | 518K-75.4% | 2.10M-26.9% | 2.88M | |
| Free cash flow | 110M+257.6% | -69.6M-67.2% | -41.6M | |
| Acquisitions | 0.00 | 0.00 | 0.00 | |
| 1.69M-99.6% | 378M+407.0% | 74.5M | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -117M-178.5% | 150M+158.5% | 57.9M | |
| Income taxes paid | 0.00-100.0% | 232K+209.3% | 75.0K | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | |
| Market cap | 1.25B+23.0% | 1.02B | — | |
| P/S | 27.2×-97.1% | 946.7× | — | |
| P/B | 3.3×+35.3% | 2.4× | — | |
| P/FCF | 11.4× | — | — | |
| FCF yield | 8.8% | — | — | |
| Source filing | 10-K | 10-K | 10-K |
About this data
Source: SEPN’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SEPN filings on SEC EDGAR → Not investment advice.