Ocular Therapeutix vs Spero Therapeutics
Spero Therapeutics is the larger business, with $66.8m of revenue in fiscal 2025 against $52.0m for Ocular Therapeutix (1.3 times as much). Spero Therapeutics grew faster (39.2% against -18.5%). Spero Therapeutics kept more of each dollar of sales as profit: a net margin of 12.8% against -511.9%. Spero Therapeutics carries less debt relative to equity (0.2% against 10.9%).
| Latest fiscal year | Ocular TherapeutixOCUL, 2025 | Spero TherapeuticsSPRO, 2025 |
|---|---|---|
| Revenue | $52.0m | $66.8m |
| Revenue growth | -18.5% | 39.2% |
| Net income | −$266m | $8.6m |
| Operating margin | -519.8% | 9.5% |
| Net margin | -511.9% | 12.8% |
| Return on equity | -54.9% | 16.3% |
| Free cash flow | −$217m | −$12.6m |
| Cash | $737m | $40.3m |
| Total debt | $71.3m | $91,000 |
| Debt to equity | 10.9% | 0.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 325 | 25 |
| Market value | $1.52bn | $60.8m |
| Price vs our value range | — | — |
| Moat score | 17 (Weak) | 11 (Weak) |
| Insider trades, 12 months | 1 buys, 29 sales | 0 buys, 9 sales |