SABS revenueFY2025$0
- FY YoY
- -100.0%
SABS revenue was $0 for fiscal 2025 (ended Dec 31, 2025), down 100.0% from fiscal 2024.
SAB Biotherapeutics Inc. (SABS) financials
For fiscal 2025 (ended Dec 31, 2025), SAB Biotherapeutics Inc. reported $0 of revenue and $13.27M of net income.
- Revenue, FY2025
- $0
- Revenue growth, YoY
- -100.0%
- Net income, FY2025
- $13.27M
- Free cash flow, FY2025
- -$45.71M
- EPS, diluted, FY2025
- -$0.79
- Cash
- $14.44M
- P/E
- 21.04
- Market cap
- $279.3M
FY2020FY2025
FY2020FY2025
FY2020FY2025
SABS revenue and earnings growth
SABS net incomeQ3 2026-$22.30M
- 5Y CAGR
- -8.0%
SABS net income was -$22.30M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $45.45M a year earlier. For the full fiscal 2025 it was $13.27M, compared with -$34.11M in fiscal 2024. Compound annual growth was -8.0% over 5 years.
SABS EPSQ3 2026-$0.24
SABS diluted EPS was -$0.24 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.21 a year earlier. For the full fiscal 2025 it was -$0.79.
SABS free cash flowQ3 2026-$14.37M
SABS free cash flow was -$14.37M in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was -$45.71M, compared with -$34.63M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $1.32M | $2.24M | $23.90M | $60.88M | $55.24M |
| Research and development | $34.35M | $30.25M | $16.52M | $36.44M | $57.18M | $27.91M |
| Selling, general and admin | $14.60M | $13.98M | $23.80M | $16.38M | $17.09M | $6.77M |
| Operating income | -$48.95M | -$42.91M | -$38.08M | -$28.92M | -$13.39M | $20.56M |
| Interest expense | $240.7K | $318.4K | $315.3K | $301.6K | $294.5K | $469.2K |
| Pre-tax income | $13.27M | - | -$42.19M | -$18.72M | -$17.14M | $20.12M |
| Income tax | $0 | $0 | $0 | $25.6K | $0 | $0 |
| Net income | $13.27M | -$34.11M | -$42.19M | -$18.74M | -$17.14M | $20.12M |
| EPS, basic | $0.22 | -$3.68 | -$7.64 | -$43.10 | -$6.30 | $7.90 |
| EPS, diluted | -$0.79 | -$3.68 | -$7.64 | -$43.10 | -$6.30 | $7.40 |
| Diluted shares | 61.3M | 9.3M | 5.5M | 435,249.7 | 2.7M | 2.7M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $10.50M | $8.90M | $56.57M | $15.05M | $33.21M | $12.61M |
| Short-term investments | $86.09M | $11.86M | $0 | - | - | - |
| Receivables | - | - | $0 | $5.56M | $8.01M | $20.57M |
| Current assets | $101.05M | $23.79M | $58.91M | $22.10M | $50.19M | $34.46M |
| Total assets | $172.81M | $44.20M | $83.94M | $50.90M | $81.14M | $56.54M |
| Current liabilities | $10.68M | $7.98M | $10.81M | $14.99M | $26.46M | $11.06M |
| Total debt | - | $275.8K | $1.05M | $1.31M | $1.80M | $710.8K |
| Total liabilities | $21.32M | $18.23M | $26.64M | $19.85M | $42.59M | $17.53M |
| Shareholders' equity | $151.50M | $25.97M | $57.30M | $31.06M | $38.55M | $39.01M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$44.78M | -$34.29M | -$25.12M | -$23.46M | $1.99M | $10.00M |
| Capital expenditures | $933.2K | $337.3K | $197.2K | $2.17M | $10.94M | $12.73M |
| Free cash flow | -$45.71M | -$34.63M | -$25.32M | -$25.63M | -$8.96M | -$2.73M |
| Investing cash flow | -$121.71M | -$11.96M | -$152.7K | -$2.09M | -$10.94M | -$12.72M |
| Financing cash flow | $168.30M | -$1.17M | $66.77M | $1.05M | $35.89M | $8.98M |
| Stock-based compensation | $5.21M | $2.94M | $2.42M | $2.67M | $2.31M | $1.30M |
| Depreciation and amortization | $2.99M | $4.71M | $3.65M | $3.17M | $1.49M | $383.1K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue growth, YoY | -100.0% | -40.9% | -90.6% | -60.7% | 10.2% | - |
| Operating margin | - | -3244.9% | -1700.6% | -121.0% | -22.0% | 37.2% |
| Net margin | - | -2579.0% | -1884.5% | -78.4% | -28.2% | 36.4% |
| Free cash flow margin | - | -2618.6% | -1130.7% | -107.2% | -14.7% | -4.9% |
| Return on equity | 8.8% | -131.3% | -73.6% | -60.3% | -44.5% | 51.6% |
| Return on assets | 7.7% | -77.2% | -50.3% | -36.8% | -21.1% | 35.6% |
| Current ratio | 9.46 | 2.98 | 5.45 | 1.47 | 1.90 | 3.11 |
| Debt to equity | - | 0.01 | 0.02 | 0.04 | 0.05 | 0.02 |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | $114.7K | $0 | $263.1K | $944.6K | $305.0K |
| Research and development | $18.08M | $16.17M | $13.40M | $10.73M | $8.97M | $7.00M | $7.66M | $7.65M | $7.83M | $6.82M | $8.15M | $4.30M |
| Selling, general and admin | $7.82M | $7.21M | $6.60M | $5.04M | $3.71M | $2.73M | $3.11M | $2.47M | $3.48M | $3.64M | $4.19M | $14.88M |
| Operating income | -$25.90M | -$23.38M | -$20.00M | -$15.77M | -$12.68M | -$9.73M | -$10.77M | -$10.01M | -$11.31M | -$10.20M | -$11.39M | -$18.87M |
| Interest expense | - | $62.0K | $62.7K | $63.5K | $43.3K | $64.0K | $69.6K | $70.9K | $78.0K | $93.1K | $76.4K | $77.9K |
| Pre-tax income | - | - | - | - | - | - | - | - | -$10.35M | -$7.34M | -$5.03M | -$22.86M |
| Net income | -$22.30M | -$22.49M | -$18.87M | -$16.86M | $45.45M | -$10.11M | -$5.20M | -$11.39M | -$10.35M | -$7.34M | -$5.03M | -$22.86M |
| EPS, basic | -$0.24 | -$0.28 | -$0.35 | - | $0.50 | -$1.09 | -$0.56 | -$1.23 | -$1.12 | -$0.79 | -$0.54 | -$3.85 |
| EPS, diluted | -$0.24 | -$0.28 | -$0.35 | - | -$0.21 | -$1.09 | -$0.56 | -$1.23 | -$1.12 | -$0.79 | -$0.54 | -$3.85 |
| Diluted shares | 93.2M | 79.8M | 53.6M | - | 77.9M | 9.3M | 9.3M | - | 9.3M | 9.3M | 9.2M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $14.44M | $8.27M | $20.52M | $10.50M | $29.42M | $3.69M | $5.64M | $8.90M | $9.17M | $17.24M | $14.03M | $56.57M |
| Short-term investments | $89.61M | $94.36M | $86.87M | $86.09M | $81.46M | $2.02M | $7.21M | $11.86M | $21.23M | $20.08M | $30.02M | $0 |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | $0 |
| Current assets | $107.74M | $107.94M | $112.78M | $101.05M | $113.28M | $9.31M | $16.30M | $23.79M | $32.54M | $39.58M | $46.95M | $58.91M |
| Total assets | $235.64M | $238.21M | $248.47M | $172.81M | $183.45M | $30.13M | $38.12M | $44.20M | $53.80M | $61.89M | $71.37M | $83.94M |
| Current liabilities | $14.80M | $11.71M | $9.85M | $10.68M | $10.79M | $10.68M | $9.65M | $7.98M | $8.82M | $7.55M | $8.30M | $10.81M |
| Total debt | - | - | - | - | - | - | - | $275.8K | - | - | - | $1.05M |
| Total liabilities | $24.72M | $23.43M | $21.22M | $21.32M | $18.37M | $18.11M | $16.71M | $18.23M | $16.89M | $15.77M | $18.55M | $26.64M |
| Shareholders' equity | $210.92M | $214.78M | $227.25M | $151.50M | $165.07M | $12.02M | $21.41M | $25.97M | $36.90M | $46.12M | $52.82M | $57.30M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.02M | -$9.84M | -$14.27M | -$16.78M | -$13.05M | -$7.15M | -$7.80M | -$9.53M | -$6.29M | -$7.72M | -$10.75M | -$13.45M |
| Capital expenditures | $1.34M | $1.59M | $983.3K | - | - | - | - | $55.4K | $100.3K | $52.5K | $129.1K | $67.9K |
| Free cash flow | -$14.37M | -$11.43M | -$15.25M | - | - | - | - | -$9.59M | -$6.39M | -$7.77M | -$10.88M | -$13.51M |
| Investing cash flow | $6.07M | -$4.88M | -$65.65M | -$1.71M | -$129.87M | $5.20M | $4.67M | $9.33M | -$1.15M | $11.22M | -$31.36M | -$67.9K |
| Financing cash flow | $13.00M | $2.36M | $89.92M | -$41.5K | $168.69M | -$174.0K | -$174.0K | $217.0K | -$674.1K | -$321.0K | -$394.4K | $67.64M |
| Stock-based compensation | $7.44M | $7.25M | $5.46M | $3.17M | $801.0K | $627.0K | $613.0K | $674.1K | $1.05M | $601.4K | $617.4K | $536.9K |
| Depreciation and amortization | $800.0K | $800.0K | $731.0K | $741.8K | $700.0K | $800.0K | $756.6K | $764.0K | $900.0K | $1.00M | $1.96M | $922.5K |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | - | - | - | -62.4% | -100.0% | 207.7% | 62.5% | -85.9% |
| Operating margin | - | - | - | - | - | - | - | -8726.3% | - | -3877.0% | -1205.9% | -6187.9% |
| Net margin | - | - | - | - | - | - | - | -9934.5% | - | -2787.7% | -532.1% | -7493.8% |
| Free cash flow margin | - | - | - | - | - | - | - | -8359.0% | - | -2952.9% | -1151.7% | -4430.9% |
| Current ratio | 7.28 | 9.22 | 11.45 | 9.46 | 10.50 | 0.87 | 1.69 | 2.98 | 3.69 | 5.24 | 5.65 | 5.45 |
| Debt to equity | - | - | - | - | - | - | - | 0.01 | - | - | - | 0.02 |
Source: XBRL data SAB Biotherapeutics Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 10-for-3, first reported Nov 22, 2021; 1-for-10, first reported May 20, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
SABS peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| SABS | $0 | -100.0% | $13.27M | - | $279.3M |
| AMGN | $38.90B | +8.2% | $9.39B | 24.1% | $251.65B |
| GILD | $30.99B | +6.5% | -$3.86B | -12.5% | $210.01B |
| MRNA | $2.52B | +13.1% | -$2.79B | -110.5% | $107.39B |
| ARGX | $4.25B | +88.6% | $1.29B | 30.4% | $59.72B |
| RVMD | $0 | - | -$1.13B | - | $43.29B |
| BIIB | $10.30B | +2.3% | $347.50M | 3.4% | $37.67B |
| BNTX | €2.87B | +4.3% | -€1.14B | -39.6% | $21.98B |
| EXEL | $2.50B | +9.1% | $885.14M | 35.5% | $17.51B |
SABS FAQ
8 questionsWhat is SABS revenue?
SAB Biotherapeutics Inc. (SABS) reported $0 of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 100.0% from the year before.Is SABS profitable?
Yes. SAB Biotherapeutics Inc. earned $13.27M in net income for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does SABS have?
SAB Biotherapeutics Inc. reported $14.44M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is SABS revenue growing?
SAB Biotherapeutics Inc.'s revenue changed -100.0% in fiscal 2025, to $0.What is SABS free cash flow?
SAB Biotherapeutics Inc. generated -$45.71M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$44.78M less capital expenditures.What is SABS earnings per share?
Diluted earnings per share were -$0.79 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did SABS last report financial results?
The latest statements here come from SAB Biotherapeutics Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.Where does this SABS financial data come from?
Quantisnow builds these statements from the structured XBRL data SAB Biotherapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.