Filing Flows › Septerna (SEPN) › Q4 2025
Septerna (SEPN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Septerna (SEPN) reported revenue of $24.1M for the fourth quarter 2025 (Q4 2025), up 114-fold from a year earlier and +12% from the quarter before. Operating margin was -66.4%, net loss $10.7M (44.5% of revenue).
Septerna, Q4 2025: revenue $24.1M (114× year over year), operating margin -66.4%, net loss $10.7M, operating cash flow −$15.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.1M | +12% | 114× |
| Operating profit | −$16.0M | -713% | — |
| Net earnings | −$10.7M | -231% | — |
| Operating cash flow | −$15.0M | -109% | — |
What changed
Revenue was $24.1M in Q4 2025, up 11276% year over year and up 12% from the previous quarter.
Operating costs exceeded revenue by $16.0M, an operating margin of -66.4%. Total costs grew 61% against revenue growth of 11276%. The fastest-growing cost line was Research & development (+65%). The quarter ended with a net loss of $10.7M, after a profit of $8.2M the previous quarter. Non-operating items added $5.3M, -49% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$15.0M. Non-cash charges added back $401K of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items used $7.3M. Capital expenditures of $65K exceeded it, leaving free cash flow of −$15.1M.
Questions
What was Septerna's revenue in the fourth quarter 2025?
Septerna (SEPN) reported revenue of $24.1M for the fourth quarter 2025 (Q4 2025), up 114-fold from a year earlier and +12% from the quarter before.
Was Septerna profitable in the fourth quarter 2025?
Operating loss was $16.0M (-66.4% of revenue) and net loss $10.7M.
Source: Septerna 10-K on SEC EDGAR.