SPRY (SPRY) financial statements
SPRY reported revenue of $84M in fiscal 2025, up 97.8% a year over 4 years.
Net income was -$171M.
Free cash flow was -$171M.
The diluted share count rose 3290% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SPRY's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $6M | $1M | $30,000 | $89M | $84M |
| Cost of revenue | — | — | — | $0 | $977,000 | — |
| Gross profit | — | — | — | $30,000 | $88M | — |
| Research and development | $25M | $20M | $18M | $20M | $20M | $13M |
| Selling, general and admin | $8M | $5M | $603,000 | $47M | $72M | $230M |
| Operating income | -$33M | -$19M | -$36M | -$68M | -$3M | -$179M |
| Pre-tax income | — | — | — | -$54M | $8M | -$171M |
| Income tax | $0 | $0 | $0 | $0 | $288,000 | -$80,000 |
| Net income | -$33M | -$20M | -$35M | -$54M | $8M | -$171M |
| EPS (diluted) | -$11.33 | -$0.70 | -$0.87 | -$0.57 | $0.08 | -$1.74 |
| Diluted shares | 3M | 29M | 40M | 95M | 102M | 99M |
| Gross margin | — | — | — | 100.0% | 98.9% | — |
| Operating margin | — | -353.3% | -2698.8% | -225066.7% | -3.5% | -212.9% |
| Net margin | — | -367.7% | -2635.4% | -181216.7% | 9.0% | -203.3% |
Balance sheet
Fiscal years, from SPRY's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $387M | $60M | $274M | $228M | $314M | $245M |
| Receivables | — | — | — | $0 | $8M | $25M |
| Inventory | — | — | — | $0 | $5M | $31M |
| Total current assets | $391M | $61M | $278M | $232M | $334M | $285M |
| Property, plant and equipment | $2M | $72,000 | $329,000 | $574,000 | $1M | $2M |
| Total assets | $395M | $61M | $281M | $233M | $351M | $328M |
| Total current liabilities | $10M | $8M | $5M | $2M | $23M | $39M |
| Total liabilities | $12M | $17M | $9M | $2M | $94M | $213M |
| Shareholders' equity | -$14M | -$31M | $273M | $231M | $257M | $114M |
| Net debt | -$387M | -$60M | -$211M | -$71M | -$51M | -$41M |
Cash flow
Fiscal years, from SPRY's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$31M | -$18M | -$40M | -$59M | $14M | -$171M |
| Capital spending | $917,000 | $55,000 | $199,000 | $175,000 | $563,000 | $339,000 |
| Free cash flow | -$32M | -$18M | -$40M | -$59M | $13M | -$171M |
| Stock-based compensation | $3M | $3M | $6M | $9M | $15M | $22M |
| Net borrowing | — | — | — | — | $0 | $96M |
| Free cash flow margin | — | -319.9% | -3060.6% | -198136.7% | 14.6% | -203.1% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SPRY.
Open SPRY in InvestinglyQuestions
What was SPRY's revenue in 2025?
$84M in fiscal 2025, from its 10-K filing.
How much free cash flow does SPRY generate?
-$171M in fiscal 2025 (operating cash flow minus capital spending).
From SPRY's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.