SRPT

MKT CAP:$2B

Sarepta Therapeutics, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$19.93-$1.38 (-6.50%)

Apr 23, 2026

Company Details

Sarepta Therapeutics, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It...

CEO

Douglas S. Ingram

IPO Date

Jun 4, 1997

Website

www.sarepta.com

Key Metrics TTM

Revenue

$2.2B

+15.6% YoY

Net Income

-$713M

EPS (Diluted)

-$8.44

Free Cash Flow

-$317M

Revenue / Share

$20.98

Gross Margin

61.8%

Operating Margin

-31.8%

Net Margin

-32.5%

FCF Margin

-14.4%

P/S

1.0x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Mar 2, 2026

$2.2B+15.6%EPS -$7.13

Q4 2025

Mar 2, 2026

$443M-32.7%EPS -$3.93

Q3 2025

Nov 6, 2025

$399M-14.5%EPS -$1.80

Q2 2025

Aug 6, 2025

$611M+68.4%EPS $1.89

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$211M	$179M	-$87M
Q2 22	$233M	$196M	-$211M
Q3 22	$230M	$190M	-$131M
Q4 22	$258M	$228M	-$107M
Q1 23	$254M	$218M	-$138M
Q2 23	$261M	$227M	-$134M
Q3 23	$332M	$295M	-$21M
Q4 23	$397M	$353M	$25M
Q1 24	$413M	$363M	$35M
Q2 24	$363M	$318M	-$701.0K
Q3 24	$467M	$375M	$22M
Q4 24	$658M	$526M	$162M
Q1 25	$745M	$607M	-$300M
Q2 25	$611M	$459M	$116M
Q3 25	$399M	$249M	-$103M
Q4 25	$443M	$44M	-$412M

Valuation

Quarter	P/S	P/E
Q1 22	8.7x	—
Q2 22	8.0x	—
Q3 22	11.0x	—
Q4 22	11.1x	—
Q1 23	12.5x	—
Q2 23	10.1x	—
Q3 23	10.0x	—
Q4 23	7.8x	—
Q1 24	8.6x	714.2x
Q2 24	9.8x	311.5x
Q3 24	7.2x	97.0x
Q4 24	6.1x	49.1x
Q1 25	2.8x	—
Q2 25	0.7x	—
Q3 25	0.8x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$101M	-$107M
Q2 22	-$67M	-$76M
Q3 22	-$65M	-$74M
Q4 22	-$92M	-$100M
Q1 23	-$209M	-$219M
Q2 23	-$122M	-$140M
Q3 23	-$115M	-$155M
Q4 23	-$55M	-$74M
Q1 24	-$242M	-$285M
Q2 24	$15M	-$14M
Q3 24	-$71M	-$108M
Q4 24	$92M	$54M
Q1 25	-$583M	-$629M
Q2 25	$261M	$229M
Q3 25	-$15M	-$43M
Q4 25	$131M	$125M

Capital Expenditures

Quarter	CapEx
Q1 22	$6M
Q2 22	$9M
Q3 22	$9M
Q4 22	$8M
Q1 23	$10M
Q2 23	$18M
Q3 23	$41M
Q4 23	$19M
Q1 24	$42M
Q2 24	$29M
Q3 24	$37M
Q4 24	$38M
Q1 25	$46M
Q2 25	$32M
Q3 25	$28M
Q4 25	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+43.5%	-0.4%
Q2 22	+42.3%	+34.1%
Q3 22	+21.6%	+61.5%
Q4 22	+28.3%	+18.9%
Q1 23	+20.2%	+31.5%
Q2 23	+11.9%	-11.2%
Q3 23	+44.1%	-2.5%
Q4 23	+53.5%	+1.9%
Q1 24	+63.1%	-3.3%
Q2 24	+38.9%	-7.9%
Q3 24	+40.8%	+26.2%
Q4 24	+65.9%	+33.5%
Q1 25	+80.2%	+176.1%
Q2 25	+68.4%	+36.3%
Q3 25	-14.5%	+13.0%
Q4 25	-32.7%	+72.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$29M	13.8%
Q2 22	$103M	44.1%
Q3 22	$50M	21.9%
Q4 22	$51M	19.5%
Q1 23	$41M	16.3%
Q2 23	$47M	18.1%
Q3 23	$48M	14.5%
Q4 23	$46M	11.5%
Q1 24	$41M	9.8%
Q2 24	$50M	13.9%
Q3 24	$43M	9.3%
Q4 24	$50M	7.5%
Q1 25	$41M	5.6%
Q2 25	$37M	6.1%
Q3 25	$15M	3.7%
Q4 25	$30M	6.8%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$194M	$72M
Q2 22	$252M	$154M
Q3 22	$217M	$105M
Q4 22	$214M	$120M
Q1 23	$246M	$111M
Q2 23	$242M	$119M
Q3 23	$194M	$121M
Q4 23	$196M	$132M
Q1 24	$200M	$127M
Q2 24	$180M	$139M
Q3 24	$224M	$128M
Q4 24	$200M	$164M
Q1 25	$773M	$134M
Q2 25	$204M	$138M
Q3 25	$219M	$92M
Q4 25	$325M	$128M

Revenue by Geography

Quarter	Rest of World	United States
Q1 25	$375M	$375M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.2B	$780M	$2.0B
Q2 22	$869M	$1.1B	$1.9B
Q3 22	$1.0B	$1.0B	$2.1B
Q4 22	$967M	$1.0B	$2.0B
Q1 23	$872M	$1.0B	$1.9B
Q2 23	$852M	$1.0B	$1.9B
Q3 23	$542M	$1.2B	$1.7B
Q4 23	$428M	$1.2B	$1.7B
Q1 24	$427M	$963M	$1.4B
Q2 24	$384M	$1.1B	$1.5B
Q3 24	$198M	$1.0B	$1.2B
Q4 24	$1.1B	$252M	$1.4B
Q1 25	$241M	$282M	$523M
Q2 25	$511M	$290M	$800M
Q3 25	$613M	$238M	$851M
Q4 25	$801M	$138M	$940M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	87M	+3.6%	+9.8%
Q2 22	88M	+0.3%	+9.7%
Q3 22	88M	+0.1%	+9.7%
Q4 22	88M	+0.2%	+4.2%
Q1 23	88M	+0.4%	+1.1%
Q2 23	89M	+0.6%	+1.4%
Q3 23	89M	+0.2%	+1.4%
Q4 23	106M	+18.8%	+20.2%
Q1 24	99M	-6.1%	+12.4%
Q2 24	99M	+0.0%	+11.7%
Q3 24	100M	+1.3%	+13.0%
Q4 24	108M	+8.0%	+2.7%
Q1 25	97M	-10.2%	-1.8%
Q2 25	107M	+9.5%	+7.5%
Q3 25	100M	-6.0%	-0.2%
Q4 25	105M	+4.5%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$251.0K	840
Q2 22	$278.0K	840
Q3 22	$274.1K	840
Q4 22	$222.4K	1K
Q1 23	$218.2K	1K
Q2 23	$224.8K	1K
Q3 23	$285.6K	1K
Q4 23	$302.0K	1K
Q1 24	$314.7K	1K
Q2 24	$276.2K	1K
Q3 24	$355.5K	1K
Q4 24	$479.9K	1K
Q1 25	$542.9K	1K
Q2 25	$445.4K	1K
Q3 25	$291.1K	1K
Q4 25	$530.5K	835

Revenue / Employee