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Korro Bio (KRRO) earnings and revenue breakdown

Latest: Q4 2025 · 10-K filed Mar 12, 2026 · Korro Bio (KRRO) Q4 2025 earnings results →

Q4 2025 Revenue down 43% year over year to $1.3M

Korro Bio made $1.3M in Q4 2025 (-43% Y/Y). Operating margin n/m, net loss $50.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Mar 12, 2026.

Revenue$1.3M
Year over year-43%
Operating marginn/m
Net earnings−$50.0M
Operating cash flow−$17.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.3M in Q4 2025, down 43% year over year and up 19% from the previous quarter.

Operating costs exceeded revenue by $50.4M, an operating margin of -3900.6%. Total costs grew 104% against a revenue fall of 43%. The quarter ended with a net loss of $50.0M, wider than the previous quarter's $18.1M loss.

Operating cash flow was −$17.7M. Non-cash charges added back $649K of depreciation and $2.1M of share-based compensation. Working capital and other items added $29.6M. Capital expenditures of $84K exceeded it, leaving free cash flow of −$17.8M.

Quarterly history

Korro Bio revenue by quarterKorro Bio revenue by quarter$2.3MQ4 2024$2.5MQ1 2025$1.5MQ2 2025$1.1MQ3 2025$1.3MQ4 2025
Korro Bio net earnings by quarterKorro Bio net earnings by quarter−$21.2MQ4 2024−$23.4MQ1 2025−$25.8MQ2 2025−$18.1MQ3 2025−$50.0MQ4 2025
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 202510-KMar 12, 2026$1.3M-43%n/m−$50.0M−$17.7M
Q3 202510-QNov 12, 2025$1.1M—n/m−$18.1M−$17.2M
Q2 202510-QAug 12, 2025$1.5M—n/m−$25.8M−$19.2M
Q1 202510-QMay 7, 2025$2.5M—-981.2%−$23.4M−$24.5M
Q4 202410-KMar 18, 2025$2.3M—n/m−$21.2M−$7.5M

Charts

Korro Bio: revenue growth, year over year and quarter over quarterKorro Bio: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q1 2025-43%Q2 2025-25%Q3 2025-43%+19%Q4 2025
Latest (Q4 2025): Y/Y -43%, Q/Q +19%.
Korro Bio: where the cash came from (+) and went (−), TTM to Q3 2026Korro Bio: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$85.3MOperating cash flow−$63.7MCash drawn (+) / kept (−)−$15.1MOther investing−$6.8MShares issued$397KCapital spending−$169KExchange rates$58K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Korro Bio: profit against cash, quarter by quarterKorro Bio: profit against cash, quarter by quarterNet incomeOperating cash flow−$21.2M−$7.5MQ4 2024−$23.4M−$24.5MQ1 2025−$25.8M−$19.2MQ2 2025−$18.1M−$17.2MQ3 2025−$50.0M−$17.7MQ4 2025−$19.6M−$16.1MQ1 2026−$18.9M−$17.0MQ2 2026−$17.5M−$12.9MQ3 2026
Latest (Q3 2026): Net income −$17.5M, Operating cash flow −$12.9M.
Korro Bio: diluted shares by fiscal year (split-adjusted)Korro Bio: diluted shares by fiscal year (split-adjusted)806MFY2020859MFY20216MFY20228MFY20239MFY20249MFY2025
-98.8% since FY2020: buybacks shrank the count; earlier years scaled for the 5-for-1 split before FY2024, 5-for-1 split before FY2023.
Korro Bio in its industry: growth against margin (225 companies, SIC 2834)Korro Bio in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMKRRO (-43%, -100%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Korro Bio

Korro is a biopharmaceutical company leveraging a novel oligonucleotide promoted editing of RNA (OPERA®) platform to develop a new class of genetic medicines for rare and highly prevalent diseases. OPERA provides precise, tissue-directed delivery of RNA-editing oligonucleotides (REOs) that modify the targeted native mRNA transcript to repair or form a de-novo protein with enhanced functionality. The platform combines a suite of capabilities consisting of sophisticated knowledge of transcription biology through ADAR proteins (Adenosine Deaminases Acting on RNA), machine learning optimization of REOs, linker chemistry expertise, along with use of a highly targeted tissue-specific delivery methodology.

In its own words, from its 8-K, filed Aug 6, 2026.

Korro Bio against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -43% against the peers' median +7%.

CompanyQuarterRevenueY/YOp. margin
KRRO Korro BioQ4 2025$1.3M-43%n/m
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Korro Bio 10-K on SEC EDGAR · CIK 1703647 · Pharmaceutical Preparations

13F: who owns KRRO and who is buying

Largest holders of KRRO (13F)Largest holders of KRRO (13F)Lynx1 Capital Management LP$20.3MQiming U.S. Ventures Management, …$17.6MNantahala Capital Management, LLC$17.4MNEA Management Company, LLC$17.1MVR Adviser, LLC$13.3MAtlas Venture Life Science Adviso…$12.7MBalyasny Asset Management L.P.$12.5MBlackRock$10.8MAffinity Asset Advisors, LLC$9.3MAdage Capital Partners GP, L.L.C.$7.1M
Funds' net buying of KRRO by quarter (13F)Funds' net buying of KRRO by quarter (13F)−$14.9M2024-09$6.6M2024-12$5.0M2025-03−$9.6M2025-06$25.0M2025-09−$12.8M2025-12$58.8M2026-03−$10.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on KRRO

History

Every quarter: Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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