Filing Flows › Septerna (SEPN) › Q2 2025
Septerna (SEPN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Septerna (SEPN) reported revenue of $119K for the second quarter 2025 (Q2 2025), -68% from a year earlier and -46% from the quarter before.
Septerna, Q2 2025: revenue $119K (-68% year over year), net loss $24.8M, operating cash flow −$20.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $119K | -46% | -68% |
| Operating profit | −$29.0M | — | — |
| Net earnings | −$24.8M | — | — |
| Operating cash flow | −$20.3M | — | — |
What changed
Revenue was $119K in Q2 2025, down 68% year over year and down 46% from the previous quarter.
Operating costs exceeded revenue by $29.0M, an operating margin of -24351.3%. Total costs grew 58% against a revenue fall of 68%. The fastest-growing cost line was General & admin (+103%). The quarter ended with a net loss of $24.8M, wider than the previous quarter's $21.5M loss.
Operating cash flow was −$20.3M. Non-cash charges added back $405K of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $2.3M. Capital expenditures of $58K exceeded it, leaving free cash flow of −$20.3M.
Questions
What was Septerna's revenue in the second quarter 2025?
Septerna (SEPN) reported revenue of $119K for the second quarter 2025 (Q2 2025), -68% from a year earlier and -46% from the quarter before.
Source: Septerna 10-Q on SEC EDGAR.