Spruce Biosciences, Inc. (SPRB) Reports Q2 Loss, Tops Revenue Estimates

Group 1 - Spruce Biosciences reported a quarterly loss of $0.22 per share, better than the Zacks Consensus Estimate of a loss of $0.33, representing an earnings surprise of 33.33% [1] - The company posted revenues of $1.61 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.87%, although this is a decline from $2.17 million in the same quarter last year [2] - Spruce Biosciences has surpassed consensus EPS estimates for four consecutive quarters [2] Group 2 - The stock has underperformed significantly, losing about 85.1% since the beginning of the year, while the S&P 500 has gained 12% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.32 on revenues of $1.8 million, and for the current fiscal year, it is -$1.24 on revenues of $5.27 million [7] - The Medical - Biomedical and Genetics industry, to which Spruce Biosciences belongs, is currently in the top 30% of Zacks industries, indicating a favorable outlook for the sector [8]