Sutro Biopharma, Inc.
STRO- Exchange
- Nasdaq
- Industry
- Biological Products, (No Diagnostic Substances)
- SEC CIK
- 0001382101
No open-market purchases or sales by Sutro Biopharma, Inc. insiders were filed in the last 90 days; 100 institutions reported holding it in 13F filings for Q2 2026, worth $545.7M in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 13, 2026, 1:19 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $191.1M (186.5% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 23, 2026 | Mar 13, 2025 | Jan 8, 2024 | Mar 30, 2023 | Feb 28, 2022 |
| Revenue | $102.5M | $62.0M | $153.7M | $67.8M | $61.9M |
| Operating expenses | $260.9M | $300.5M | $243.0M | $196.7M | $160.4M |
| Research and development | $166.4M | $252.0M | $180.4M | $137.2M | $104.4M |
| Selling, general and administrative | $41.0M | $48.5M | $62.6M | $59.5M | $56.0M |
| Operating income | -$158.4M | -$238.5M | -$89.3M | -$128.9M | -$98.5M |
| Interest expense | – | – | $1.30M | $2.40M | $2.60M |
| Income tax | -$93.0K | $2.36M | $18.2M | $2.50M | $0 |
| Net income | -$191.1M | -$227.5M | -$106.8M | -$119.2M | -$105.5M |
| EPS, basic | $-22.49 | $-2.96 | $-1.78 | $-2.35 | – |
| EPS, diluted | $-22.49 | $-2.96 | $-1.78 | $-2.35 | – |
| Weighted shares, basic | 8.50M | 76.8M | 60.2M | 50.7M | – |
| Weighted shares, diluted | 8.50M | 76.8M | 60.2M | 50.7M | – |
| Margins and growth | |||||
| Operating margin | -154.5% | -384.3% | -58.1% | -190.3% | -159.2% |
| Net margin | -186.5% | -366.6% | -69.5% | -175.9% | -170.6% |
| Revenue growth, year over year | +65.2% | −59.6% | +126.8% | +9.5% | +44.8% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 23, 2026 | Mar 13, 2025 | Jan 8, 2024 | Mar 30, 2023 | Feb 28, 2022 |
| Cash and equivalents | $58.1M | $190.3M | $69.3M | $47.3M | $30.4M |
| Short-term investments | $83.3M | $126.6M | $264.4M | $255.1M | $130.3M |
| Accounts receivable | $3.98M | $8.62M | $36.1M | $7.12M | $12.5M |
| Total current assets | $150.9M | $343.3M | $421.5M | $353.2M | $218.5M |
| Property, plant and equipment | $10.6M | $18.2M | $21.9M | $24.6M | $22.6M |
| Total assets | $173.8M | $387.2M | $470.7M | $406.9M | $341.4M |
| Accounts payable | $7.57M | $10.5M | $9.44M | $4.80M | $11.3M |
| Short-term debt | – | – | $4.06M | $12.5M | $9.38M |
| Total current liabilities | $75.1M | $131.9M | $93.7M | $66.5M | $41.7M |
| Long-term debt | – | – | $0 | $3.77M | $15.7M |
| Total liabilities | $306.3M | $342.6M | $321.1M | $189.9M | $88.8M |
| Shareholders' equity | -$132.5M | $44.6M | $149.6M | $217.0M | $252.6M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Mar 23, 2026 | Mar 13, 2025 | Jan 8, 2024 | Mar 30, 2023 | Feb 28, 2022 |
| Operating cash flow | -$177.2M | -$191.5M | -$111.6M | $3.55M | -$81.7M |
| Depreciation and amortization | $7.32M | $7.22M | $6.82M | $5.69M | $4.84M |
| Stock-based compensation | $14.0M | $24.7M | $24.9M | $26.3M | $23.2M |
| Share buybacks | – | – | – | – | $7.00K |
| Investing cash flow | $45.0M | $218.5M | -$3.92M | -$35.0M | -$97.3M |
| Financing cash flow | $44.0K | $94.1M | $137.6M | $48.3M | $3.26M |
| Net change in cash | -$132.2M | $121.0M | $22.0M | $16.8M | -$175.7M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 13.7% | 39.8% | 16.2% | 38.8% | 37.6% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Nov 6, 2026 | 16.6M | −80.5% | SEC |
| Aug 7, 2026 | 16.6M | −80.4% | SEC |
| May 8, 2026 | 16.6M | −80.4% | SEC |
| Mar 16, 2026 | 16.6M | −80.2% | SEC |
| Oct 31, 2025 | 85.1M | +3.2% | SEC |
| Aug 1, 2025 | 84.8M | +3.4% | SEC |
| May 2, 2025 | 84.5M | +3.3% | SEC |
| Mar 6, 2025 | 83.8M | +34.2% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits. Stock splits since Dec 31, 2020, from 13F share counts: 1-for-10 in Q4 2025.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.