What is Septerna, Inc.'s change in deferred revenue?

Septerna, Inc. (SEPN) reported change in deferred revenue of -$16.24M in Q1 2026.

How has Septerna, Inc.'s change in deferred revenue changed year-over-year?

Septerna, Inc.'s change in deferred revenue decreased by 138.6% year-over-year, from $42.05M to -$16.24M.

What does change in deferred revenue mean?

Change in payments received from customers for goods/services not yet delivered — a key SaaS and subscription metric.

Septerna, Inc. SEPN Change in Deferred Revenue

Change in Deferred Revenue at other companies

Stoke Therapeutics, Inc.STOK

-$2.19M-123%

Nurix Therapeutics, Inc.NRIX

-$1.25M+87.3%

Fortrea Holdings Inc.FTRE

$6.6M-36.5%

PrecigenPGEN

-$107K+22.5%

Arrowhead ResearchARWR

$163.36M—

Ionis PharmaceuticalsIONS

-$20.82M-51.8%

Other financials

Income statement

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Revenue$26.5M+12,011%

Operating income-$13.3M+48.7%

Net income-$8.6M+59.8%

EPS (diluted)-$0.19+61.2%

Balance sheet

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Cash & equivalents$71.6M-65.9%

Total debt$23.1M-7.7%

Total equity$378.5M+195%

Total assets$569.7M+31.3%

Cash flow

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Operating cash flow-$25.6M-9.8%

CapEx$832.0K+118%

Free cash flow-$26.5M-11.5%

Valuation

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Market cap$1.65B+319%

Enterprise value$1.6B+1,325%

P/S22.8×-379×

Profitability

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Operating margin-77.1%-38.4pp

Net margin-49.9%-24.9pp

FCF margin467.9%+243pp

Returns & leverage

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Return on equity-12.2%—

Debt / equity0.1×—

Current ratio4.7×-27.5×

Where this comes from

Reported directly by Septerna, Inc. in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInContractWithCustomerLiability.

The official record: Septerna, Inc.’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Septerna, Inc.'s change in deferred revenue?: Septerna, Inc. (SEPN) reported change in deferred revenue of -$16.24M in Q1 2026.
How has Septerna, Inc.'s change in deferred revenue changed year-over-year?: Septerna, Inc.'s change in deferred revenue decreased by 138.6% year-over-year, from $42.05M to -$16.24M.
What does change in deferred revenue mean?: Change in payments received from customers for goods/services not yet delivered — a key SaaS and subscription metric.