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Side-by-side financial comparison of Avidity Biosciences, Inc. (RNA) 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 $12.5M, roughly 1.0× Avidity Biosciences, Inc.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -1398.3%, a 1649.0% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs 434.0%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% CAGR vs 138.5%).

Eli Lilly and Company, doing business as Lilly, is an American multinational pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union army veteran during the American Civil War for whom the company was later named.

RNA vs SPRO — Head-to-Head

Bigger by revenue
SPRO
SPRO
1.0× larger
SPRO
$12.6M
$12.5M
RNA
Growing faster (revenue YoY)
SPRO
SPRO
+23646.7% gap
SPRO
24080.8%
434.0%
RNA
Higher net margin
SPRO
SPRO
1649.0% more per $
SPRO
250.7%
-1398.3%
RNA
Faster 2-yr revenue CAGR
SPRO
SPRO
Annualised
SPRO
847.7%
138.5%
RNA

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
RNA
RNA
SPRO
SPRO
Revenue
$12.5M
$12.6M
Net Profit
$-174.4M
$31.5M
Gross Margin
Operating Margin
-1513.5%
Net Margin
-1398.3%
250.7%
Revenue YoY
434.0%
24080.8%
Net Profit YoY
-117.0%
250.9%
EPS (diluted)
$-1.27
$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
RNA
RNA
SPRO
SPRO
Q4 25
$12.6M
Q3 25
$12.5M
$0
Q2 25
$3.8M
$0
Q1 25
$1.6M
$12.0K
Q4 24
$3.0M
$52.0K
Q3 24
$2.3M
$65.0K
Q2 24
$2.0M
$114.0K
Q1 24
$3.5M
$140.0K
Net Profit
RNA
RNA
SPRO
SPRO
Q4 25
$31.5M
Q3 25
$-174.4M
$-7.4M
Q2 25
$-157.3M
$-1.7M
Q1 25
$-115.8M
$-13.9M
Q4 24
$-102.3M
Q3 24
$-80.4M
$-17.1M
Q2 24
$-70.8M
$-17.9M
Q1 24
$-68.9M
$-12.7M
Operating Margin
RNA
RNA
SPRO
SPRO
Q4 25
Q3 25
-1513.5%
Q2 25
-4448.7%
Q1 25
-8360.9%
-122758.3%
Q4 24
-4069.6%
Q3 24
-4200.9%
-28604.6%
Q2 24
-4040.4%
-16720.2%
Q1 24
-2178.6%
-9987.1%
Net Margin
RNA
RNA
SPRO
SPRO
Q4 25
250.7%
Q3 25
-1398.3%
Q2 25
-4089.3%
Q1 25
-7360.0%
-115550.0%
Q4 24
-3439.5%
Q3 24
-3441.7%
-26380.0%
Q2 24
-3461.8%
-15668.4%
Q1 24
-1943.4%
-9049.3%
EPS (diluted)
RNA
RNA
SPRO
SPRO
Q4 25
$0.56
Q3 25
$-1.27
$-0.13
Q2 25
$-1.21
$-0.03
Q1 25
$-0.90
$-0.25
Q4 24
$-0.80
Q3 24
$-0.65
$-0.32
Q2 24
$-0.65
$-0.33
Q1 24
$-0.79
$-0.24

Balance Sheet & Financial Strength

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

Metric
RNA
RNA
SPRO
SPRO
Cash + ST InvestmentsLiquidity on hand
$350.2M
$40.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.9B
$59.0M
Total Assets
$2.1B
$68.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
RNA
RNA
SPRO
SPRO
Q4 25
$40.3M
Q3 25
$350.2M
$48.6M
Q2 25
$243.9M
$31.2M
Q1 25
$254.2M
$48.9M
Q4 24
$219.9M
$52.9M
Q3 24
$370.2M
$76.3M
Q2 24
$575.8M
$63.5M
Q1 24
$471.4M
$82.3M
Stockholders' Equity
RNA
RNA
SPRO
SPRO
Q4 25
$59.0M
Q3 25
$1.9B
$26.5M
Q2 25
$1.2B
$32.8M
Q1 25
$1.3B
$33.8M
Q4 24
$1.4B
$46.1M
Q3 24
$1.5B
$65.5M
Q2 24
$1.2B
$80.5M
Q1 24
$830.9M
$96.2M
Total Assets
RNA
RNA
SPRO
SPRO
Q4 25
$68.9M
Q3 25
$2.1B
$54.2M
Q2 25
$1.4B
$62.1M
Q1 25
$1.5B
$77.7M
Q4 24
$1.6B
$110.5M
Q3 24
$1.6B
$135.2M
Q2 24
$1.3B
$149.9M
Q1 24
$951.5M
$167.7M

Cash Flow & Capital Efficiency

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

Metric
RNA
RNA
SPRO
SPRO
Operating Cash FlowLast quarter
$-156.2M
$-8.4M
Free Cash FlowOCF − Capex
$-156.9M
FCF MarginFCF / Revenue
-1257.6%
Capex IntensityCapex / Revenue
5.7%
Cash ConversionOCF / Net Profit
-0.26×
TTM Free Cash FlowTrailing 4 quarters
$-592.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
RNA
RNA
SPRO
SPRO
Q4 25
$-8.4M
Q3 25
$-156.2M
$17.4M
Q2 25
$-199.7M
$-17.7M
Q1 25
$-124.8M
$-4.0M
Q4 24
$-99.9M
$-23.4M
Q3 24
$-65.6M
$12.8M
Q2 24
$-65.0M
$-18.7M
Q1 24
$-70.4M
$5.9M
Free Cash Flow
RNA
RNA
SPRO
SPRO
Q4 25
Q3 25
$-156.9M
Q2 25
$-203.0M
Q1 25
$-128.6M
Q4 24
$-103.8M
Q3 24
$-67.3M
Q2 24
$-65.5M
Q1 24
$-71.3M
FCF Margin
RNA
RNA
SPRO
SPRO
Q4 25
Q3 25
-1257.6%
Q2 25
-5277.1%
Q1 25
-8174.3%
Q4 24
-3491.0%
Q3 24
-2881.8%
Q2 24
-3204.6%
Q1 24
-2012.3%
Capex Intensity
RNA
RNA
SPRO
SPRO
Q4 25
Q3 25
5.7%
Q2 25
86.9%
Q1 25
238.6%
Q4 24
131.7%
Q3 24
72.9%
Q2 24
26.0%
Q1 24
25.8%
Cash Conversion
RNA
RNA
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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