Filing Flows › Sutro Biopharma (STRO) › Q1 2026
Sutro Biopharma (STRO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Sutro Biopharma (STRO) reported revenue of $14.5M for the first quarter 2026 (Q1 2026), -17% from a year earlier and +25% from the quarter before. Operating margin was -204.2%, net loss $38.5M (265.0% of revenue).
Sutro Biopharma, Q1 2026: revenue $14.5M (-16% year over year), operating margin -204.2%, net loss $38.5M, operating cash flow −$42.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.5M | +25% | -17% |
| Operating profit | −$29.7M | — | — |
| Net earnings | −$38.5M | — | — |
| Operating cash flow | −$42.3M | — | — |
What changed
Revenue was $14.5M in Q1 2026, down 17% year over year and up 25% from the previous quarter.
Operating costs exceeded revenue by $29.7M, an operating margin of -204.2%. Total costs fell 49% while revenue fell 17%. The quarter ended with a net loss of $38.5M, narrower than the previous quarter's $46.8M loss.
Operating cash flow was −$42.3M. Non-cash charges added back $1.3M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $6.6M.
Questions
What was Sutro Biopharma's revenue in the first quarter 2026?
Sutro Biopharma (STRO) reported revenue of $14.5M for the first quarter 2026 (Q1 2026), -17% from a year earlier and +25% from the quarter before.
Was Sutro Biopharma profitable in the first quarter 2026?
Operating loss was $29.7M (-204.2% of revenue) and net loss $38.5M.
Source: Sutro Biopharma 10-Q on SEC EDGAR.