How did Seres Therapeutics' revenue and expenses shift in Q4 2024?

Seres Therapeutics experienced a significant shift in its financials for Q4 2024, primarily driven by the sale of its VOWST microbiome therapeutic business to Nestlé in September 2024:

1. **Revenue**: The company reported zero revenue for the quarter. This is a notable decrease from the previous quarter, where the company had reported $29.17 million in revenue. The absence of revenue in Q4 2024 is due to the completion of the VOWST business sale, which resulted in the company becoming more streamlined and focused.
2. **Expenses**: Seres Therapeutics reported a loss from operations of $(29.17) million for the three months ending September 30, 2024, and $(92.48) million for the nine months ending September 30, 2024. This reflects a significant reduction in operating expenses, indicating the company's efforts to streamline its operations post-VOWST sale. However, the net loss from continuing operations was $(51.04) million for the three months and $(110.13) million for the nine months, suggesting that despite reduced operating expenses, the company still faces significant challenges.
3. **Net Income**: The company reported a net income of $88.78 million for the three months ending September 30, 2024, and $15.77 million for the nine months ending September 30, 2024. This is primarily due to the gain on the sale of the VOWST Business, which is a one-time event. The net income from discontinued operations was $139.81 million for the three months and $125.91 million for the nine months, further highlighting the impact of this transaction on the company's financials.
4. **Earnings Per Share**: Seres Therapeutics reported a net loss per share of $0.33 for the three months ending September 30, 2024, and $(0.73) for the nine months ending September 30, 2024, from continuing operations. This indicates that the company is still facing losses from its ongoing operations, despite the positive impact of the VOWST sale.

In conclusion, Seres Therapeutics' revenue and expenses in Q4 2024 were significantly impacted by the sale of its VOWST business. The company reported zero revenue for the quarter, reflecting the completion of the sale, while expenses were reduced, but the company still faced significant challenges as evidenced by the net loss from continuing operations. The net income was positively influenced by the gain from the VOWST sale, leading to a net income per share that was influenced by this one-time event.