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Side-by-side financial comparison of PATRIOT NATIONAL BANCORP INC (PNBK) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.

Spero Therapeutics, Inc. is the larger business by last-quarter revenue ($12.6M vs $9.5M, roughly 1.3× PATRIOT NATIONAL BANCORP INC). On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs 44.3%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% CAGR vs 11.5%).

PNBK vs SPRO — Head-to-Head

Bigger by revenue
SPRO
SPRO
1.3× larger
SPRO
$12.6M
$9.5M
PNBK
Growing faster (revenue YoY)
SPRO
SPRO
+24036.4% gap
SPRO
24080.8%
44.3%
PNBK
Faster 2-yr revenue CAGR
SPRO
SPRO
Annualised
SPRO
847.7%
11.5%
PNBK

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
PNBK
PNBK
SPRO
SPRO
Revenue
$9.5M
$12.6M
Net Profit
$31.5M
Gross Margin
Operating Margin
-36.3%
Net Margin
250.7%
Revenue YoY
44.3%
24080.8%
Net Profit YoY
250.9%
EPS (diluted)
$0.13
$0.56

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
PNBK
PNBK
SPRO
SPRO
Q4 25
$9.5M
$12.6M
Q3 25
$7.2M
$0
Q2 25
$6.2M
$0
Q1 25
$6.7M
$12.0K
Q4 24
$6.6M
$52.0K
Q3 24
$7.1M
$65.0K
Q2 24
$7.1M
$114.0K
Q1 24
$7.7M
$140.0K
Net Profit
PNBK
PNBK
SPRO
SPRO
Q4 25
$31.5M
Q3 25
$-2.7M
$-7.4M
Q2 25
$-5.0M
$-1.7M
Q1 25
$-2.8M
$-13.9M
Q4 24
Q3 24
$-27.0M
$-17.1M
Q2 24
$-3.1M
$-17.9M
Q1 24
$-299.0K
$-12.7M
Operating Margin
PNBK
PNBK
SPRO
SPRO
Q4 25
-36.3%
Q3 25
-36.9%
Q2 25
-81.2%
Q1 25
-41.5%
-122758.3%
Q4 24
-205.4%
Q3 24
-32.4%
-28604.6%
Q2 24
-56.5%
-16720.2%
Q1 24
-3.0%
-9987.1%
Net Margin
PNBK
PNBK
SPRO
SPRO
Q4 25
250.7%
Q3 25
-36.8%
Q2 25
-80.4%
Q1 25
-41.6%
-115550.0%
Q4 24
Q3 24
-378.9%
-26380.0%
Q2 24
-43.5%
-15668.4%
Q1 24
-3.9%
-9049.3%
EPS (diluted)
PNBK
PNBK
SPRO
SPRO
Q4 25
$0.13
$0.56
Q3 25
$-0.03
$-0.13
Q2 25
$-0.06
$-0.03
Q1 25
$-0.21
$-0.25
Q4 24
$-2.40
Q3 24
$-6.78
$-0.32
Q2 24
$-0.77
$-0.33
Q1 24
$-0.08
$-0.24

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
PNBK
PNBK
SPRO
SPRO
Cash + ST InvestmentsLiquidity on hand
$40.3M
Total DebtLower is stronger
$16.4M
Stockholders' EquityBook value
$94.7M
$59.0M
Total Assets
$1.1B
$68.9M
Debt / EquityLower = less leverage
0.17×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
PNBK
PNBK
SPRO
SPRO
Q4 25
$40.3M
Q3 25
$48.6M
Q2 25
$31.2M
Q1 25
$48.9M
Q4 24
$52.9M
Q3 24
$76.3M
Q2 24
$63.5M
Q1 24
$82.3M
Total Debt
PNBK
PNBK
SPRO
SPRO
Q4 25
$16.4M
Q3 25
Q2 25
Q1 25
Q4 24
$33.1M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
PNBK
PNBK
SPRO
SPRO
Q4 25
$94.7M
$59.0M
Q3 25
$95.0M
$26.5M
Q2 25
$66.2M
$32.8M
Q1 25
$57.1M
$33.8M
Q4 24
$4.3M
$46.1M
Q3 24
$16.4M
$65.5M
Q2 24
$40.5M
$80.5M
Q1 24
$43.6M
$96.2M
Total Assets
PNBK
PNBK
SPRO
SPRO
Q4 25
$1.1B
$68.9M
Q3 25
$950.8M
$54.2M
Q2 25
$930.0M
$62.1M
Q1 25
$956.6M
$77.7M
Q4 24
$1.0B
$110.5M
Q3 24
$974.1M
$135.2M
Q2 24
$1.0B
$149.9M
Q1 24
$1.1B
$167.7M
Debt / Equity
PNBK
PNBK
SPRO
SPRO
Q4 25
0.17×
Q3 25
Q2 25
Q1 25
Q4 24
7.76×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
PNBK
PNBK
SPRO
SPRO
Operating Cash FlowLast quarter
$-14.2M
$-8.4M
Free Cash FlowOCF − Capex
$-14.3M
FCF MarginFCF / Revenue
-150.8%
Capex IntensityCapex / Revenue
1.8%
Cash ConversionOCF / Net Profit
-0.26×
TTM Free Cash FlowTrailing 4 quarters
$-24.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
PNBK
PNBK
SPRO
SPRO
Q4 25
$-14.2M
$-8.4M
Q3 25
$-5.2M
$17.4M
Q2 25
$921.0K
$-17.7M
Q1 25
$-5.8M
$-4.0M
Q4 24
$2.7M
$-23.4M
Q3 24
$-2.6M
$12.8M
Q2 24
$6.0M
$-18.7M
Q1 24
$1.8M
$5.9M
Free Cash Flow
PNBK
PNBK
SPRO
SPRO
Q4 25
$-14.3M
Q3 25
$-5.3M
Q2 25
$918.0K
Q1 25
$-5.9M
Q4 24
$2.6M
Q3 24
$-2.7M
Q2 24
$6.0M
Q1 24
$1.8M
FCF Margin
PNBK
PNBK
SPRO
SPRO
Q4 25
-150.8%
Q3 25
-72.8%
Q2 25
14.8%
Q1 25
-88.0%
Q4 24
39.9%
Q3 24
-37.3%
Q2 24
84.6%
Q1 24
23.0%
Capex Intensity
PNBK
PNBK
SPRO
SPRO
Q4 25
1.8%
Q3 25
0.3%
Q2 25
0.0%
Q1 25
1.0%
Q4 24
0.8%
Q3 24
0.9%
Q2 24
0.7%
Q1 24
0.5%
Cash Conversion
PNBK
PNBK
SPRO
SPRO
Q4 25
-0.26×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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