Filing Flows › Septerna (SEPN) › Q3 2025
Septerna (SEPN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Septerna (SEPN) reported revenue of $21.5M for the third quarter 2025 (Q3 2025), up 122-fold from a year earlier and up 181-fold from the quarter before. Operating margin was 12.2%, net earnings $8.2M (38.0% of revenue).
Septerna, Q3 2025: revenue $21.5M (122× year over year), operating margin 12.2%, net earnings $8.2M, operating cash flow $169M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.5M | 181× | 122× |
| Operating profit | $2.6M | — | — |
| Net earnings | $8.2M | — | — |
| Operating cash flow | $169M | — | — |
| Free cash flow | $169M | — | — |
What changed
Revenue was $21.5M in Q3 2025, up 12113% year over year and up 17963% from the previous quarter.
Operating profit was $2.6M, a 12.2% margin (up 12824.7 points year over year). Total costs fell 17% while revenue rose 12113%. Net earnings were $8.2M. The effective tax rate was 0.0%. Non-operating items added $5.6M, 68% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $168.8M, 2065% of net earnings. Non-cash charges added back $401K of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items added $157.7M. Capital expenditures of $13K left free cash flow of $168.8M.
Questions
What was Septerna's revenue in the third quarter 2025?
Septerna (SEPN) reported revenue of $21.5M for the third quarter 2025 (Q3 2025), up 122-fold from a year earlier and up 181-fold from the quarter before.
Was Septerna profitable in the third quarter 2025?
Operating profit was $2.6M (12.2% of revenue) and net earnings $8.2M.
Source: Septerna 10-Q on SEC EDGAR.