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Stoke Therapeutics (STOK) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Stoke Therapeutics (STOK) Q3 2026 earnings results →

Q3 2026 Revenue up 6% year over year to $11.3M · 654¢ of every $1 of revenue lost · operating margin -686.9%

Stoke Therapeutics made $11.3M in Q3 2026 (+6% Y/Y). Operating margin -686.9%, net loss $73.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$11.3M
Year over year+6%
Operating margin-686.9%
Net earnings−$73.6M
Operating cash flow−$62.7M

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 $11.3M in Q3 2026, up 6% year over year and up 21% from the previous quarter.

Operating costs exceeded revenue by $77.3M, an operating margin of -686.9%. Total costs grew 65% against revenue growth of 6%. The fastest-growing cost line was SG&A (+79%). The quarter ended with a net loss of $73.6M, wider than the previous quarter's $61.6M loss.

Operating cash flow was −$62.7M. Non-cash charges added back $455K of depreciation and $11.0M of share-based compensation. Capital expenditures of $2.9M exceeded it, leaving free cash flow of −$65.5M.

Quarterly history

Stoke Therapeutics revenue by quarterStoke Therapeutics revenue by quarter$159MQ1 2025$13.8MQ2 2025$10.6MQ3 2025$1.4MQ4 2025$6.2MQ1 2026$9.3MQ2 2026$11.3MQ3 2026
Stoke Therapeutics net earnings by quarterStoke Therapeutics net earnings by quarter$113MQ1 2025−$23.5MQ2 2025−$38.3MQ3 2025−$57.9MQ4 2025−$50.0MQ1 2026−$61.6MQ2 2026−$73.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 3, 2026$11.3M+6%-686.9%−$73.6M−$62.7M
Q2 202610-QAug 3, 2026$9.3M-32%-701.7%−$61.6M−$56.6M
Q1 202610-QMay 7, 2026$6.2M-96%-857.6%−$50.0M−$60.6M
Q4 202510-KMar 16, 2026$1.4M-94%n/m−$57.9M−$30.5M
Q3 202510-QNov 4, 2025$10.6M+117%-405.3%−$38.3M−$30.4M
Q2 202510-QAug 12, 2025$13.8M+186%-197.6%−$23.5M−$25.4M
Q1 202510-QMay 13, 2025$159M38×70.2%$113M$132M

Charts

Stoke Therapeutics: revenue growth, year over year and quarter over quarterStoke Therapeutics: revenue growth, year over year and quarter over quarterY/YQ/Q+400%Q1 2025+186%-91%Q2 2025+117%-23%Q3 2025-94%-87%Q4 2025-96%+344%Q1 2026-32%+50%Q2 2026+6%+21%Q3 2026
Latest (Q3 2026): Y/Y +6%, Q/Q +21%.
Stoke Therapeutics: where the cash came from (+) and went (−), TTM to Q3 2026Stoke Therapeutics: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$236MOperating cash flow−$210MCash drawn (+) / kept (−)−$26.9MShares issued$13.2MOther investing−$6.1MCapital spending−$5.4M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Stoke Therapeutics: profit against cash, quarter by quarterStoke Therapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow−$10.5M−$23.2MQ4 2024$113M$132MQ1 2025−$23.5M−$25.4MQ2 2025−$38.3M−$30.4MQ3 2025−$57.9M−$30.5MQ4 2025−$50.0M−$60.6MQ1 2026−$61.6M−$56.6MQ2 2026−$73.6M−$62.7MQ3 2026
Latest (Q3 2026): Net income −$73.6M, Operating cash flow −$62.7M.
Stoke Therapeutics: diluted shares by fiscal yearStoke Therapeutics: diluted shares by fiscal year33MFY202037MFY202139MFY202244MFY202354MFY202459MFY2025
+76.8% since FY2020: more shares outstanding (issuance, stock pay).
Stoke Therapeutics in its industry: growth against margin (225 companies, SIC 2834)Stoke 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.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMSTOK (+6%, -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 Stoke Therapeutics

Stoke Therapeutics (Nasdaq: STOK), is a biotechnology company dedicated to restoring protein expression by harnessing the body’s potential with RNA medicine. Using Stoke’s proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) approach, Stoke is developing antisense oligonucleotides (ASOs) to selectively restore naturally-occurring protein levels. Stoke’s first medicine in development, zorevunersen, has demonstrated the potential for disease modification in patients with Dravet syndrome and is currently being evaluated in a Phase 3 study. Stoke’s initial focus are diseases of the central nervous system and the eye that are caused by a loss of ~50% of normal protein levels (haploinsufficiency). Proof of concept has been demonstrated in other organs, tissues, and systems, supporting broad potential for Stoke’s proprietary approach.

In its own words, from its 8-K, filed Aug 3, 2026.

Stoke Therapeutics against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +7%. Operating margin: -686.9% against the peers' median 20.4%.

CompanyQuarterRevenueY/YOp. margin
STOK Stoke TherapeuticsQ3 2026$11.3M+6%-686.9%
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: Stoke Therapeutics 10-Q on SEC EDGAR · CIK 1623526 · Pharmaceutical Preparations

Guidance and outlook

Stoke Therapeutics: what its forward-looking statements are about (10-Q filed 2026-11-03)Stoke Therapeutics: what its forward-looking statements are about (10-Q filed 2026-11-03)Other9Costs8Demand6Legal & regulation5Products2Deals1Supply chain1Financing1
33 statements; tone +0.06 (−1 all cautious, +1 all confident); 8 hedged.
Stoke Therapeutics: outlook statements against the filing beforeStoke Therapeutics: outlook statements against the filing beforeConfident4Cautious2

13F: who owns STOK and who is buying

Largest holders of STOK (13F)Largest holders of STOK (13F)BlackRock$192MRTW Investments, LP$184MFMR LLC$174MLynx1 Capital Management LP$132MRedmile Group, LLC$129MWellington Management Group LLP$115MMorgan Stanley$113MBaker Bros. Advisors LP$109MToronto Dominion Bank$104MVanguard Group$100M
Funds' net buying of STOK by quarter (13F)Funds' net buying of STOK by quarter (13F)−$22.4M2024-09−$39.4M2024-12$36.0M2025-03$26.1M2025-06$43.4M2025-09$42.2M2025-12$129M2026-03$193M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on STOK

History

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

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