SRZN (SRZN) financial statements
SRZN reported revenue of $3M in fiscal 2025, down 34.7% a year over 3 years.
Net income was -$242M.
Free cash flow was -$30M.
The diluted share count rose 602% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SRZN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $0 | $12M | $0 | $11M | $3M |
| Research and development | $26M | $40M | $37M | $27M | $21M | $29M |
| Selling, general and admin | $7M | $14M | $20M | $16M | $15M | $16M |
| Operating income | -$33M | -$54M | -$44M | -$46M | -$26M | -$42M |
| Pre-tax income | — | — | — | — | -$64M | -$242M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$33M | -$55M | -$36M | -$43M | -$64M | -$242M |
| EPS (diluted) | — | -$33.15 | -$15.56 | -$21.33 | -$21.67 | -$32.37 |
| Diluted shares | 1M | 2M | 2M | 2M | 3M | 7M |
| Operating margin | — | — | -354.7% | — | -239.7% | -1210.6% |
| Net margin | — | — | -288.0% | — | -596.6% | -6960.8% |
Balance sheet
Fiscal years, from SRZN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $124M | $76M | $36M | $35M | $89M |
| Receivables | — | $0 | $2M | $2M | $2M | $0 |
| Total current assets | $50M | $105M | $81M | $41M | $39M | $92M |
| Property, plant and equipment | $6M | $5M | $4M | $2M | $562,000 | $433,000 |
| Total assets | $62M | $137M | $89M | $46M | $48M | $99M |
| Total current liabilities | $7M | $14M | $10M | $7M | $7M | $10M |
| Total liabilities | $15M | $27M | $13M | $8M | $70M | $286M |
| Shareholders' equity | $47M | $110M | $76M | $38M | -$21M | -$188M |
| Net debt | -$987,187 | -$33M | -$25M | -$36M | -$35M | -$89M |
Cash flow
Fiscal years, from SRZN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$29M | -$49M | -$44M | -$40M | -$18M | -$30M |
| Capital spending | $874,000 | $1M | $728,000 | $398,000 | $26,000 | $128,000 |
| Free cash flow | -$30M | -$50M | -$45M | -$41M | -$18M | -$30M |
| Stock-based compensation | $635,000 | $2M | $5M | $4M | $4M | $4M |
| Share buybacks (net) | — | $0 | -$3M | $0 | — | — |
| Free cash flow margin | — | — | -359.0% | — | -165.7% | -873.5% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SRZN.
Open SRZN in InvestinglyQuestions
What was SRZN's revenue in 2025?
$3M in fiscal 2025, from its 10-K filing.
How much free cash flow does SRZN generate?
-$30M in fiscal 2025 (operating cash flow minus capital spending).
From SRZN's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.