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Septerna vs Fortress Biotech: SEPN and FBIO compared
Septerna is the larger company: $18.9M of revenue in its latest quarter (Q3 2026) against $18.7M for Fortress Biotech (Q2 2026). Fortress Biotech is growing faster (+14% against -12% a year earlier). Fortress Biotech is more profitable, with an operating margin of -53.5% against -144.2%.
Where the money goes: SEPN and FBIO
Septerna (SEPN) · Q3 2026
Septerna, Q3 2026: revenue $18.9M (-12% year over year), operating margin -144.2%, net loss $26.6M, operating cash flow −$13.8M. The chart follows the revenue to costs, profit and cash.
Fortress Biotech (FBIO) · Q2 2026
Fortress Biotech, Q2 2026: revenue $18.7M (+14% year over year), operating margin -53.5%, net earnings $602K, operating cash flow −$59.3M. The chart follows the revenue to costs, profit and cash.
| Septerna (SEPN) | Fortress Biotech (FBIO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $18.9M | $18.7M |
| Revenue growth, Y/Y | -12% | +14% |
| Operating margin | -144.2% | -53.5% |
| Net earnings | −$26.6M | $602K |
| Net margin | -140.8% | 3.2% |
| Operating cash flow | −$13.8M | −$59.3M |
Where the revenue comes from
Fortress Biotech
- Journey: $18.5M (99%)
- Fortress: $208K (1%)
Questions
Which is bigger, Septerna or Fortress Biotech?
Septerna is the larger company: $18.9M of revenue in its latest quarter (Q3 2026) against $18.7M for Fortress Biotech (Q2 2026).
Is Septerna or Fortress Biotech growing faster?
Fortress Biotech is growing faster (+14% against -12% a year earlier).
Which is more profitable, Septerna or Fortress Biotech?
Fortress Biotech is more profitable, with an operating margin of -53.5% against -144.2%.
More: Septerna earnings · how Septerna makes money · Fortress Biotech earnings · how Fortress Biotech makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 9, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.