Sutro Biopharma (STRO) Financial Statements & Analysis

Sutro Biopharma (STRO) Income Statement

Sutro Biopharma reported revenue of $102.48M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 65.2% from $62.04M a year earlier. Sutro Biopharma posted a net loss of $191.09M, compared with a net loss of $227.46M a year earlier. Gross margin was 100.0% and operating margin -102.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $9.84M, down 84.6% from the same quarter a year earlier.

Sutro Biopharma Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Sutro Biopharma, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Mar 2019	Dec 2017
Revenue & Gross Profit
Revenue	102.48	62.04	153.73	67.77	61.88	42.72	42.74	38.42	51.74
Cost of Revenue	166.42	7.22	6.82	137.17	104.40	76.96	0.00	54.26	51.90
Gross Profit	102.48	54.83	146.92	67.77	61.88	-34.24	42.74	-15.84	-0.16
Operating Expenses
Research & Development	166.42	252.04	180.43	137.17	104.40	76.96	65.61	54.26	54.64
Selling, General & Administrative	41.02	48.45	62.58	59.54	56.00	36.82	32.59	21.38	16.37
Operating Expenses	207.44	293.28	236.19	196.72	160.40	36.82	98.20	75.64	71.01
Operating Income	-104.95	-238.45	-89.28	-128.94	-98.52	-71.06	-55.47	-37.22	-19.27
Other Income/Expense
Interest Income	9.25	44.43	14.51	3.46	0.58	1.51	4.07	1.62	0.27
Interest Expense	42.06	31.07	23.75	-7.42	-3.20	-2.80	4.35	1.60	0.69
Other Income/Expense	-53.42	13.36	0.68	12.24	-7.01	-1.17	-0.28	1.91	-0.42
Income
Income Before Tax	-191.18	-225.10	-88.60	-116.70	-105.54	-32.03	-55.74	-35.32	-19.69
Income Tax Expense	-0.09	2.36	18.19	2.50	0.00	0.10	0.00	0.00	0.00
Net Income	-191.09	-227.46	-106.79	-119.20	-105.54	-32.13	-55.74	-35.32	-19.69
Net Income - Continuous Operations	-191.09	-227.46	-106.79	-119.20	-105.54	-32.13	-55.74	-35.32	-19.69
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-141.79	-180.45	-67.92	-123.25	-93.68	-66.76	-46.62	-32.82	-14.09
EBIT	-149.12	-194.03	-64.85	-128.94	-98.52	-71.06	-	-	-
Depreciation & Amortization	7.32	7.22	6.82	5.69	4.84	4.30	4.78	4.54	4.99
Earnings Per Share
Basic EPS	-22.00	-30.00	-18.00	-23.00	-23.00	-10.00	-24.00	-15.00	-28.00
Diluted EPS	-22.00	-30.00	-18.00	-23.00	-23.00	-10.00	-24.00	-15.00	-28.00
Basic Shares Outstanding	8.50	7.68	6.02	5.07	4.61	3.26	2.30	2.29	0.70
Diluted Shares Outstanding	8.50	7.68	6.02	5.07	4.61	3.26	2.30	2.29	0.70

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Sutro Biopharma Financial Statements

What was Sutro Biopharma's revenue in fiscal 2025?

Sutro Biopharma reported revenue of $102.48M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 65.2% from $62.04M a year earlier.

Is Sutro Biopharma profitable?

No. Sutro Biopharma reported a net loss of $191.09M in fiscal 2025. In fiscal 2024 it lost $227.46M.

What is Sutro Biopharma's operating margin?

Sutro Biopharma's operating income was −$104.95M on revenue of $102.48M in fiscal 2025, an operating margin of -102.4%, compared with -384.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition