SEPN - Septerna Inc
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$50.40
DETAILS
HIGH:
$60.00
LOW:
$43.00
MEDIAN:
$49.00
CONSENSUS:
$50.40
UPSIDE:
31.35%
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||
| Revenue | 26.7 | 26.5 | 24.1 | 21.5 | 0.1 | 0.2 | 0.2 | 0.2 | 0.4 | 0.3 | 0.1 | 0.0 |
| Cost of Revenue | 0 | 0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 26.7 | 26.1 | 24.1 | 21.5 | 0.1 | 0.2 | 0.2 | 0.2 | 0.4 | 0.3 | 0.1 | 0.0 |
| Operating Expenses | ||||||||||||
| R&D Expenses | 35.1 | 29.1 | 31.9 | 24.3 | 22.2 | 19.3 | 19.3 | 17.8 | 15.0 | 13.2 | 10.3 | 9.3 |
| SG&A Expenses | 8.4 | 10.3 | 8.3 | 7.1 | 6.9 | 6.9 | 5.6 | 4.9 | 3.4 | 2.7 | 3.1 | 2.8 |
| Other Expenses | 0 | 0 | 0 | (12.5) | 0 | 0 | 0 | 0 | 0 | 0 | (47.6) | 0 |
| Operating Expenses | 43.6 | 39.4 | 40.1 | 18.9 | 29.1 | 26.1 | 24.9 | 22.7 | 18.4 | 15.8 | (34.2) | 12.1 |
| Operating Income | ||||||||||||
| Operating Income | (16.8) | (13.3) | (16.0) | 2.6 | (29.0) | (25.9) | (24.7) | (22.6) | (18.1) | (15.5) | 34.3 | (12.0) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 4.8 | 5.0 | 5.3 | 5.6 | 4.2 | 4.5 | 3.9 | 1.9 | 1.5 | 1.3 | 1.3 | 1.1 |
| Profitability | ||||||||||||
| EBITDA | (11.6) | (7.9) | (10.3) | (9.5) | (24.4) | (21.1) | (20.4) | (20.3) | (16.2) | (13.9) | (13.1) | (10.7) |
| EBIT | (12.1) | (8.3) | (10.7) | (9.9) | (24.8) | (21.5) | (20.8) | (20.7) | (16.6) | (14.3) | (13.3) | (10.9) |
| Income Before Tax | (12.1) | (8.3) | (10.7) | 8.2 | (24.8) | (21.5) | (20.8) | (20.7) | (16.6) | (14.3) | 35.6 | (10.9) |
| Income Tax Expense | 1.0 | 0.3 | 0.0 | 0 | 0 | 0 | (0.2) | (0.1) | (0.1) | (0.1) | 0.7 | 0 |
| Net Income | (13.0) | (8.6) | (10.7) | 8.2 | (24.8) | (21.5) | (20.7) | (20.5) | (16.4) | (14.2) | 34.9 | (10.9) |
| Per Share Data | ||||||||||||
| EPS (Basic) | -0.29 | -0.19 | -0.24 | 0.18 | -0.56 | -0.49 | -0.64 | -0.49 | -0.39 | -0.34 | 2.07 | -0.56 |
| EPS (Diluted) | -0.29 | -0.19 | -0.24 | 0.18 | -0.56 | -0.49 | -0.64 | -0.49 | -0.39 | -0.34 | 2.05 | -0.56 |
| Shares Outstanding | 45.0 | 44.8 | 44.3 | 44.3 | 44.2 | 43.9 | 32.4 | 42.0 | 42.0 | 42.0 | 16.9 | 19.5 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 84.7 | 71.6 | 120.7 | 320.0 | 189.3 | 210.0 | 238.2 | 88.2 | 131.2 |
| Short-Term Investments | 287.7 | 275.8 | 270.4 | 154.4 | 137.2 | 126.0 | 112.7 | 42.3 | 17.7 |
| Net Receivables | 15.9 | 14.3 | 13.7 | 11.7 | 2.6 | 1.3 | 1.1 | 0.3 | 0.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 7.9 | 0.1 | 1.2 | 0.4 | 0 | 0.1 | 0.2 | 0.2 | 0.2 |
| Total Current Assets | 396.2 | 368.1 | 411.0 | 491.7 | 334.1 | 342.5 | 356.8 | 133.4 | 151.2 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 24.3 | 25.3 | 25.9 | 26.4 | 27.3 | 28.1 | 28.7 | 29.5 | 17.2 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 158.5 | 87.2 | 52.6 | 62.2 | 69.9 | 7.0 | 6.9 |
| Other Non-Current Assets | 146.3 | 176.4 | 0.8 | 1.4 | 1.2 | 1.2 | 1.2 | 4.4 | 1.4 |
| Total Non-Current Assets | 170.6 | 201.6 | 185.2 | 115.0 | 81.1 | 91.6 | 99.7 | 40.9 | 25.4 |
| Total Assets | 566.7 | 569.7 | 596.2 | 606.7 | 415.2 | 434.0 | 456.6 | 174.3 | 176.6 |
| Current Liabilities | |||||||||
| Account Payables | 4.0 | 7.5 | 10.3 | 3.7 | 6.5 | 4.3 | 3.2 | 6.1 | 2.3 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 60.4 | 59.8 | 62.3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 11.8 | 2.8 | 6.1 | 61.7 | 2.2 | 0.9 | 4.2 | 2.2 | 2.1 |
| Total Current Liabilities | 79.3 | 78.2 | 86.9 | 75.3 | 15.1 | 10.6 | 12.8 | 13.2 | 7.8 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 80.6 | 0.1 | 0 | 120.6 | 0.0 | 0.0 | 0.0 | 224.3 | 224.5 |
| Total Non-Current Liabilities | 100.7 | 113.1 | 127.3 | 142.6 | 22.5 | 23.1 | 23.7 | 248.5 | 236.6 |
| Total Liabilities | 180.0 | 191.2 | 214.3 | 217.9 | 37.7 | 33.8 | 36.5 | 261.7 | 244.4 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (188.9) | (175.9) | (167.3) | (156.5) | (164.7) | (139.8) | (118.4) | (97.7) | (77.2) |
| Accumulated Other Comprehensive Income | (1.3) | (0.6) | 0.6 | 0.4 | 0.2 | 0.2 | 0.1 | 0.2 | (0.0) |
| Total Stockholders' Equity | 386.7 | 378.5 | 381.9 | 388.7 | 377.6 | 400.3 | 420.0 | (87.4) | (67.8) |
| Total Liabilities & Equity | 566.7 | 569.7 | 596.2 | 606.7 | 415.2 | 434.0 | 456.6 | 174.3 | 176.6 |
| Debt Metrics | |||||||||
| Total Debt | 22.5 | 23.1 | 23.6 | 24.1 | 24.6 | 25.0 | 25.5 | 25.2 | 12.3 |
| Net Debt | (62.1) | (48.5) | (97.1) | (295.9) | (164.7) | (185.0) | (212.7) | (63.0) | (118.9) |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | (13.0) | (8.6) | (10.7) | 8.2 | (24.8) | (21.5) | (20.7) | (20.5) | (16.4) | (14.2) | 34.9 | (10.9) |
| Depreciation & Amortization | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.2 |
| Stock-Based Compensation | 5.1 | 6.0 | 2.7 | 2.5 | 1.8 | 1.5 | 1.3 | 0.7 | 0.6 | 0.6 | 0.6 | 0.3 |
| Change in Working Capital | (17.5) | (23.2) | (7.0) | 170.3 | 2.8 | (3.3) | (1.5) | 2.7 | 2.5 | (3.5) | 2.3 | 0.2 |
| Other Non-Cash Items | 2.9 | (0.2) | (0.3) | (12.6) | (0.4) | (0.5) | (0.3) | 0.1 | 0.1 | 0.2 | (47.3) | 0.2 |
| Operating Cash Flow | (22.2) | (25.6) | (15.0) | 168.8 | (20.3) | (23.3) | (21.0) | (16.8) | (13.0) | (16.7) | (8.8) | (9.9) |
| Investing Activities | ||||||||||||
| Capital Expenditure | 0 | (0.8) | (0.1) | (0.0) | (0.1) | (0.4) | (0.6) | (0.6) | (0.1) | (0.8) | (1.2) | (0.4) |
| Acquisitions | 0 | 0 | 0 | 12.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (47.6) | (105.2) | (227.4) | (110.0) | (63.8) | (49.7) | (147.6) | (33.6) | (19.9) | (12.3) | 0 | 0 |
| Sales/Maturities of Investments | 66.0 | 82.2 | 42.2 | 59.1 | 63.1 | 45.2 | 14.9 | 9.4 | 7.9 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22.6 | 0 | 25 |
| Investing Cash Flow | 18.4 | (23.8) | (185.3) | (38.4) | (0.8) | (4.9) | (133.2) | (24.8) | (12.1) | 9.6 | (1.2) | 24.6 |
| Financing Activities | ||||||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | (0.0) | 0 | 0 | 0 | 0 | 0 | (0.0) | 0 | (0.0) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.3) | 75.0 | 0.0 | 0 | 3.1 |
| Financing Cash Flow | 16.8 | 0.3 | 1.0 | 0.3 | 0.3 | 0.1 | 304.2 | (1.3) | 75.0 | 0 | 0 | 3.1 |
| Cash Position | ||||||||||||
| Net Change in Cash | 13.1 | (49.1) | (199.3) | 130.7 | (20.7) | (28.2) | 150.0 | (42.9) | 49.8 | (7.1) | (10.0) | 17.7 |
| Cash at Beginning | 72.5 | 120.7 | 320.9 | 189.3 | 210.0 | 238.2 | 89.1 | 132.1 | 82.2 | 89.4 | 99.4 | 81.7 |
| Cash at End | 85.6 | 71.6 | 121.6 | 320.0 | 189.3 | 210.0 | 239.1 | 89.1 | 132.1 | 82.2 | 89.4 | 99.4 |
| Free Cash Flow | (22.2) | (26.5) | (15.1) | 168.8 | (20.3) | (23.7) | (21.6) | (17.4) | (13.1) | (17.5) | (10.0) | (10.3) |
| Key Metrics | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 26.7 | 26.5 | 24.1 | 21.5 | 0.1 | 0.2 | 0.2 | 0.2 | 0.4 | 0.3 | 0.1 | 0.0 |
| Gross Profit | 26.7 | 26.1 | 24.1 | 21.5 | 0.1 | 0.2 | 0.2 | 0.2 | 0.4 | 0.3 | 0.1 | 0.0 |
| Operating Income | (16.8) | (13.3) | (16.0) | 2.6 | (29.0) | (25.9) | (24.7) | (22.6) | (18.1) | (15.5) | 34.3 | (12.0) |
| Net Income | (13.0) | (8.6) | (10.7) | 8.2 | (24.8) | (21.5) | (20.7) | (20.5) | (16.4) | (14.2) | 34.9 | (10.9) |
| EPS (Diluted) | -0.29 | -0.19 | -0.24 | 0.18 | -0.56 | -0.49 | -0.64 | -0.49 | -0.39 | -0.34 | 2.05 | -0.56 |
| Balance Sheet | ||||||||||||
| Cash & Equivalents | 84.7 | 71.6 | 120.7 | 320.0 | 189.3 | 210.0 | 238.2 | 88.2 | 131.2 | |||
| Total Assets | 566.7 | 569.7 | 596.2 | 606.7 | 415.2 | 434.0 | 456.6 | 174.3 | 176.6 | |||
| Total Debt | 22.5 | 23.1 | 23.6 | 24.1 | 24.6 | 25.0 | 25.5 | 25.2 | 12.3 | |||
| Stockholders' Equity | 386.7 | 378.5 | 381.9 | 388.7 | 377.6 | 400.3 | 420.0 | (87.4) | (67.8) | |||
| Cash Flow | ||||||||||||
| Operating Cash Flow | (22.2) | (25.6) | (15.0) | 168.8 | (20.3) | (23.3) | (21.0) | (16.8) | (13.0) | (16.7) | (8.8) | (9.9) |
| Capital Expenditure | 0 | (0.8) | (0.1) | (0.0) | (0.1) | (0.4) | (0.6) | (0.6) | (0.1) | (0.8) | (1.2) | (0.4) |
| Free Cash Flow | (22.2) | (26.5) | (15.1) | 168.8 | (20.3) | (23.7) | (21.6) | (17.4) | (13.1) | (17.5) | (10.0) | (10.3) |