Sutro Biopharma, Inc.: financial statements

STRONASDAQHealthcare · Biological Products, (No Diagnostic Substances)

Price

$9.82

November 13, 2026Market cap $163M

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  • The full history: 10 fiscal years, from 2016
  • The estimated fair value, with its range and its certainty
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  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

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Financial statements

Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.

2023–2025 fiscal years

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Revenue

-18.3% a year over 2 years

Line202320242025Average a year
Revenue $154M$62M$102M-18.3%
Operating income -$89M-$238M-$158M
Net income -$107M-$227M-$191M
Earnings per share -$17.80-$29.40-$22.49
Earnings per share, basic -$17.80-$29.40-$22.49
Margins
Operating margin -58.1%-384.3%-154.5%
Net margin -69.5%-366.6%-186.5%

Financial statements

STRO's revenue, profits and cash flows from 2016 to 2022, 7 more fiscal years

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By segment

Revenue and operating income by business segment or by product, as the company itself reports them in each year's 10-K. Each year from the latest filing that carries it, so a segment renamed or re-cut shows in its current form.

  • 2018: Collaboration Revenue $32M, Other Revenue $6.0M
Product2018Share 2018
Collaboration Revenue$32M84%
Other Revenue$6.0M16%

From the XBRL of 8 of the company's annual reports to the SEC (ASC 280). Amounts in dollars.

Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.

Debt and obligations

What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.

$16M Leases0.1% Effective tax rate

Leases

Dec 31, 2025

Operating leases

$16M

Finance leases

–

The liability is the present value of the rent still to pay, at December 31, 2025. It is not counted in the ladder's debt. The filing

From the statutory to the effective tax rate, 2025

Dec 31, 2025

Statutory rate

21.0%

Effective rate

0.1%

-20.9 pts

The company paid 0.1% in tax on its profit, 20.9 points below the US federal rate (21.0%). Below, the reasons it gives.

Statutory rate

21.0%

Change in valuation allowance

-22.1 pts

Difference the filing does not itemize

+1.2 pts

Effective rate

0.1%

One point is 1% of profit before tax. The lines are as the company states them in the notes to its annual report. The filing

Earnings quality

How the reported earnings were made, read from the filings. A description, not a score: our tests found no link between these measures and later share returns.

Receivables and inventory against sales

In the quarter to Sep 30, 2026, sales were -6.1% on the same quarter a year earlier, and receivables +226.8%.

  • Days of sales in receivables rose more than at nine in ten S&P 500 companies.
a year earlier 37 days
128 days

Balances at Sep 30, 2026 and Sep 30, 2025, against the sales and cost of sales of the quarter ending on each date; a fourth quarter is the fiscal year less its first nine months. Same quarter against same quarter, so the season is the same.

The earnings per share split is not shown: it needs a profit before tax in both years, since a tax rate on a loss has no meaning as a source.

The allowance for doubtful accounts is not shown: the company does not tag it in its structured filings.

The tax part is not shown: a figure it needs is missing from the company's structured filings.

A reading is called out when it is above the 90th percentile of the same reading across the S&P 500, or, for a fall, below the 10th, as measured on 9 November 2026. Each part uses only the company's own filings.

The full analysis

What do Sutro Biopharma's filings show?

These are Sutro Biopharma's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about STRO's financials

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How much revenue did STRO have in 2025?

Sutro Biopharma had revenue of $102M and net income of -$191M in fiscal 2025, a net margin of -186.5%.

How much debt does STRO have?

On December 31, 2025 Sutro Biopharma had total assets of $174M, debt of – and shareholders' equity of -$132M.

Where are the figures from?

From Sutro Biopharma, Inc.'s annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

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The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.