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Silence Therapeutics (SLN) earnings and revenue breakdown

Latest: Q1 2026 · 10-Q filed May 7, 2026 · Silence Therapeutics (SLN) Q1 2026 earnings results →

Q1 2026 Revenue up 197% year over year to $422K

Silence Therapeutics made $422K in Q1 2026 (+197% Y/Y). Operating margin n/m, net loss $15.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed May 7, 2026.

Revenue$422K
Year over year+197%
Operating marginn/m
Net earnings−$15.0M
Operating cash flow−$15.6M

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 $422K in Q1 2026, up 197% year over year and up 1141% from the previous quarter.

Gross margin was 97.4%, up 35.4 points from Q1 2025. Operating costs exceeded revenue by $15.7M, an operating margin of -3729.1%. Operating expenses fell 43% while revenue rose 197%. The quarter ended with a net loss of $15.0M, wider than the previous quarter's $11.8M loss.

Operating cash flow was −$15.6M. Non-cash charges added back $72K of depreciation and $2.4M of share-based compensation. Working capital and other items used $3.2M.

Quarterly history

Silence Therapeutics revenue by quarterSilence Therapeutics revenue by quarter$25.3MQ4 2024$142KQ1 2025$224KQ2 2025$159KQ3 2025$34KQ4 2025$422KQ1 2026
Silence Therapeutics net earnings by quarterSilence Therapeutics net earnings by quarter$12.3MQ4 2024−$28.5MQ1 2025−$27.4MQ2 2025−$21.0MQ3 2025−$11.8MQ4 2025−$15.0MQ1 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 202610-QMay 7, 2026$422K+197%n/m−$15.0M−$15.6M
Q4 202510-KMar 5, 2026$34K-100%n/m−$11.8M−$17.3M
Q3 202510-QNov 6, 2025$159K-89%n/m−$21.0M−$10.9M
Q2 202510-QAug 7, 2025$224K-70%n/m−$27.4M−$21.8M
Q1 202510-QMay 8, 2025$142K-99%n/m−$28.5M−$12.3M
Q4 202410-KFeb 27, 2025$25.3M—-17.2%$12.3M−$27.5M

Charts

Silence Therapeutics: revenue growth, year over year and quarter over quarterSilence Therapeutics: revenue growth, year over year and quarter over quarterY/YQ/Q-99%-99%Q1 2025-70%+58%Q2 2025-89%-29%Q3 2025-100%-79%Q4 2025+197%+400%Q1 2026
Latest (Q1 2026): Y/Y +197%, Q/Q +400%.
Silence Therapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Silence Therapeutics: where the cash came from (+) and went (−), TTM to Q2 2026Other investing$72.9MOperating cash flow−$42.3MCash drawn (+) / kept (−)−$30.3MExchange rates−$315KCapital spending−$3KShares issued$2K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Silence Therapeutics: profit against cash, quarter by quarterSilence Therapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow−$35.5M−$25.6MQ3 2024$12.3M−$27.5MQ4 2024−$28.5M−$12.3MQ1 2025−$27.4M−$21.8MQ2 2025−$21.0M−$10.9MQ3 2025−$11.8M−$17.3MQ4 2025−$15.0M−$15.6MQ1 2026−$12.3M$1.5MQ2 2026
Latest (Q2 2026): Net income −$12.3M, Operating cash flow $1.5M.
Silence Therapeutics: diluted shares by fiscal yearSilence Therapeutics: diluted shares by fiscal year97MFY2022111MFY2023139MFY2024142MFY2025
+46.7% since FY2022: more shares outstanding (issuance, stock pay).
Silence Therapeutics in its industry: growth against margin (225 companies, SIC 2834)Silence Therapeutics 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.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMSLN (+197%, -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 Silence Therapeutics

Silence Therapeutics is a global clinical-stage biotechnology company committed to transforming people’s lives by silencing diseases through precision engineered medicines created with proprietary siRNA (short interfering RNA) technology. Silence leverages its mRNAi GOLD ™ platform to create innovative siRNA therapies designed to precisely target and silence genes that cause disease. The Company is advancing a growing pipeline of siRNA product candidates targeting areas of high unmet need across rare and common diseases where treatments are limited or inadequate. For more information, please visit https://www.silence-therapeutics.com/.

In its own words, from its 8-K, filed Aug 10, 2026.

Silence Therapeutics against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +197% against the peers' median +10%.

CompanyQuarterRevenueY/YOp. margin
SLN Silence TherapeuticsQ1 2026$422K+197%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: Silence Therapeutics 10-Q on SEC EDGAR · CIK 1479615 · Pharmaceutical Preparations

13F: who owns SLN and who is buying

Largest holders of SLN (13F)Largest holders of SLN (13F)Siren, L.L.C.$36.4MTCG Crossover Management, LLC$33.3MNantahala Capital Management, LLC$29.6MRedmile Group, LLC$23.8MCitadel Advisors LLC$14.6MNextech Invest$10.5MMillennium Management LLC$10.0MTFG Asset Management GP$8.4MSoleus Capital Management, L.P.$6.9MBalyasny Asset Management L.P.$6.7M
Funds' net buying of SLN by quarter (13F)Funds' net buying of SLN by quarter (13F)−$96.9M2024-09−$18.8M2024-12−$7.9M2025-03−$12.4M2025-06−$420K2025-09−$6.2M2025-12$7.0M2026-03$40.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SLN

History

Every quarter: Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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