Filing Flows › Starling Oncology (STLN) › Q3 2025
Starling Oncology (STLN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Starling Oncology (STLN) reported revenue of $137M for the third quarter 2025 (Q3 2025), +37% from a year earlier and +14% from the quarter before. Operating margin was -5.9%, net loss $16.5M (12.1% of revenue).
Starling Oncology, Q3 2025: revenue $137M (+37% year over year), operating margin -5.9%, net loss $16.5M, operating cash flow −$12.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $137M | +14% | +37% |
| Operating profit | −$8.1M | — | — |
| Net earnings | −$16.5M | — | — |
| Operating cash flow | −$12.6M | — | — |
What changed
Revenue was $136.6M in Q3 2025, up 37% year over year and up 14% from the previous quarter. Dispensary was the largest line at 56% of revenue. Dispensary added $27.7M year over year (up 57%), 76% of the total change. Clinical trials & other declined 76%.
Operating costs exceeded revenue by $8.1M, an operating margin of -5.9%. Total costs grew 27% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+37%). The quarter ended with a net loss of $16.5M, narrower than the previous quarter's $17.0M loss. Net interest and other expense of $8.4M was the main reason.
Operating cash flow was −$12.6M. Non-cash charges added back $1.7M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $604K exceeded it, leaving free cash flow of −$13.2M.
Questions
What was Starling Oncology's revenue in the third quarter 2025?
Starling Oncology (STLN) reported revenue of $137M for the third quarter 2025 (Q3 2025), +37% from a year earlier and +14% from the quarter before.
Was Starling Oncology profitable in the third quarter 2025?
Operating loss was $8.1M (-5.9% of revenue) and net loss $16.5M.
Source: Starling Oncology 10-Q on SEC EDGAR.