Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.8M | $32.1M | $28.3M | $34.5M | $33.2M | $145M | $7.13M | $0.00 | $0.00 | $789K |
| Revenue growth | — | 47.5% | -11.9% | 22.1% | -3.7% | 336.3% | -95.1% | -100.0% | — | — |
| Operating income | -$92.8M | -$91.4M | -$100M | -$71.9M | -$88.1M | -$64.5M | -$180M | -$195M | -$121M | -$94.0M |
| Operating margin | -426.5% | -284.7% | -354.8% | -208.3% | -265.3% | -44.5% | -2524.0% | — | — | -11910.1% |
| Net income | -$91.6M | -$89.4M | -$98.9M | -$70.3M | -$89.1M | -$65.6M | -$250M | -$114M | $136K | $5.70M |
| Net margin | -420.7% | -278.4% | -350.0% | -203.7% | -268.3% | -45.2% | -3509.5% | — | — | 721.9% |
| EPS (diluted) | -$2.30 | -$2.21 | -$2.43 | -$1.24 | -$1.12 | -$0.72 | -$2.31 | -$17.77 | $0.00 | $0.64 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $43.9M | -$75.5M | -$62.9M | -$76.5M | -$93.6M | $6.69M | -$229M | -$117M | -$149M | $1.12M |
| Capital expenditures | $21.5M | $4.68M | $1.94M | $1.00M | $591K | $9.57M | $9.82M | $7.97M | $380K | $252K |
| Free cash flow | $22.4M | -$80.2M | -$64.8M | -$77.5M | -$94.2M | -$2.88M | -$239M | -$125M | -$149M | $865K |
| Share buybacks | — | $33.0K | — | — | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $54.5M | $36.1M | $85.8M | $65.1M | $116M | $180M | $163M | $128M | $30.8M | $45.8M |
| Total assets | $273M | $190M | $120M | $132M | $343M | $355M | $349M | $359M | $140M | $138M |
| Total liabilities | $140M | $129M | $169M | $181M | $168M | $223M | $338M | $403M | $126M | $94.0M |
| Long-term debt | — | — | — | $25.0M | $25.0M | $24.1M | $50.0M | $110M | — | — |
| Shareholders' equity | $133M | $60.7M | -$48.0M | -$48.3M | $175M | $132M | $10.8M | -$44.9M | $13.8M | $44.2M |
| Retained earnings | -$174M | -$264M | -$389M | -$460M | -$549M | -$614M | -$865M | -$978M | -$978M | -$972M |
| Shares (wtd avg diluted) | 40.4M | 40.6M | 40.9M | 70.1M | 79.8M | 91.7M | 108M | 6.40M | 7.77M | 8.87M |
Every figure is extracted from Seres Therapeutics, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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