Spruce Biosciences (NASDAQ:SPRB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$602.0k (down 80% from 3Q 2023).

• Net loss: US$8.67m (loss narrowed by 30% from 3Q 2023).

• US$0.21 loss per share (improved from US$0.30 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Spruce Biosciences EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 42%. Earnings per share (EPS) exceeded analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are down 6.0% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Spruce Biosciences (1 is a bit concerning!) that you need to take into consideration.

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