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Sutro Biopharma STRO Q1 2026 earnings

Reported May 14, 2026 · Before market open

Revenue$14.5MBeat by $5.6MDiluted EPS-$2.94Miss by $0.62
Revenue estimate$8.9M
EPS estimate-$2.32

Next report

Aug 6, 2026 (In 3 weeks)
Revenue estimate$11.8M
EPS estimate-$2.22

Financials

Q1 2026

Income statement

See full
Revenue$14.5M-16.5%
Operating income-$29.7M+56.7%
Net income-$38.5M+49.3%
EPS (diluted)-$2.94+67.6%

Balance sheet

See full
Cash & equivalents$73.7M-30.6%
Total debt$13.6M-36.3%
Total equity-$66.9M-159%
Total assets$242.0M-24.7%

Cash flow

See full
Operating cash flow-$42.3M+37.7%
CapEx--100%
Free cash flow-$42.3M+37.8%

Valuation & ratios

Valuation

as of 07/10/26
See full
Market cap$496.95M+657%
Enterprise value$436.9M+1,263%
P/S5×+4.0×

Profitability

See full
Operating margin-120%-48.6pp
Net margin-154.2%-56.7pp
FCF margin-152.2%-51.1pp

Returns & leverage

See full
Current ratio3.1×+1.0×

Segments

By product

See full
Ongoing Performance Related To Unsatisfied Performance Obligations$12.0M-7.7%
Materials Supply$1.1M-41.4%
Financing Component On Unearned Revenue$911.0K-22.5%
Research And Development Services$556.0K-38.1%

Versus estimates

Revenue

Q1 2026$14.5MBeat by $5.6M
Q4 2025$11.7MBeat by $2.4MQ3 2025$9.7MMiss by $450.5KQ2 2025$63.7MBeat by $54.8MQ1 2025$17.4MBeat by $2.4MQ4 2024$14.8MBeat by $2.7M

Diluted EPS

Q1 2026-$2.94Miss by $0.62
Q4 2025-$5.29Beat by $2.87Q3 2025-$6.70Miss by $2.50Q2 2025-$0.14Beat by $0.25Q1 2025-$0.91Miss by $0.28Q4 2024-$0.89Miss by $0.03

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Questions, answered.

When did Sutro Biopharma report Q1 2026 earnings?
Sutro Biopharma (STRO) reported Q1 2026 earnings on May 14, 2026 before market open.
What were Sutro Biopharma's Q1 2026 revenue and EPS?
Sutro Biopharma reported revenue of $14.5M and diluted EPS of $-2.94 for Q1 2026.
Did Sutro Biopharma beat estimates in Q1 2026?
Revenue beat the consensus estimate of $8.9M by $5.6M. EPS missed the consensus estimate of $-2.32 by $0.62.
How did Sutro Biopharma's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 16.5% from $17.4M a year earlier and diluted EPS declined 223.1% from $-0.91.
Where can I find Sutro Biopharma's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-224065) and the 10-Q periodic report (0001193125-26-224170) directly on SEC EDGAR. The filing index links above go to sec.gov.