Surrozen Inc. (SRZN) Next Earnings Date & Expected ±12.5% Move

Surrozen Inc. Scores 38 out of 100 with a letter grade of D-, labeled "Roarable Sell — Vulnerable Balance Sheet & Flow." The five pillars are:

• Fundamental Cash Engine: 8 / 20. ROIC is -35% and FCF yield is -5.79%. For a prospective investor, this indicates the business is not currently generating returns on invested capital or positive free cash flow, so valuation rests on future outcomes rather than current earnings power.
• Whale 13F Flow: 14 / 20. this pillar reflects institutional accumulation and options positioning. This is the strongest pillar and suggests some institutional interest, though the underlying 13F holder detail is not itemized in the source data.
• Insider Conviction: 3 / 20. this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The low score indicates weak insider conviction signals in the data.
• Macro Regime Fit: 8 / 20. beta is 1.0 and the pillar reflects sector sensitivity. A beta of 1.0 means the stock is expected to move roughly with the market, with no defensive cushion indicated.
• Forensic Balance Sheet: 5 / 20. Altman Z is 2.5, Piotroski F is 2/9, and Debt/Equity is 0.5. These readings point to meaningful balance sheet and financial-quality concerns.

Investor implications: the upside case depends on the institutional-flow pillar and on whether the company's cash reserves can bridge losses long enough for operating performance to improve. The weak forensic and insider scores are the main reasons the rating is in the sell range. This is an educational reading of the rating, not personalized advice.

Surrozen Inc. Is a NASDAQ-listed company in the Health Care sector, within the Biotechnology: Biological Products (No Diagnostic Substances) industry,. Per the market data, its gross margin is 0%. FY 2025 revenue was $3.5M, indicating minimal current commercial revenue.

And market data, operating margin and net margin are both -60%, and ROIC is -35%. Altman Z is 2.5 and Piotroski F is 2/9, with Debt/Equity at 0.5. Reported cash rose from $34.6M in FY 2024 to $89.2M in FY 2025 even as FY 2025 net loss was -$242.0M.

• 🐂 Primary Bull Case: Institutional whale-flow pillar scores 14 of 20, the strongest pillar in the RQD rating, and cash reported at $89.2M in FY 2025. With Fundamental Cash Engine at 8/20 (ROIC -35.0%, FCF yield -5.79%) and Institutional Whale Flow at 13/20, sustained execution supports upside toward the top of the $11.39 – $37.83 52-week range.
• 🐻 Primary Bear Case: ROIC of -35%, FCF yield of -5.79%, Piotroski F of 2/9, and FY 2025 net loss of -$242.0M on $3.5M revenue. Investors must weigh current valuation against -60.0% operating margins and a 1.00 macro beta if sector demand softens.

— The Butterfly Supply-Chain Graph reports no upstream or downstream links, no sector correlations, and no proprietary signals.

• Key Question #1: What specific programs or products generate the FY 2025 revenue of $3.5M, and what drove the net loss of -$242.0M relative to operating loss of -$42.1M?
• Key Question #2: What is the company's debt position, since debt is listed as N/A across all periods?
• Key Question #3: What is the EPS, and what would P/E and EV/EBITDA look like once those metrics are available?