Sutro Biopharma Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	105.65	62.04	153.73	67.77	61.88	42.72
Revenue Growth (YoY)	-34.36%	-59.64%	126.84%	9.52%	44.84%	-0.03%
Cost of Revenue	-38.73	12.5	11.83	10.11	104.4	76.96
Gross Profit	144.37	49.54	141.9	57.67	-42.52	-34.24
Selling, General & Admin	41.39	48.45	62.58	59.54	56	36.82
Research & Development	239.54	239.54	168.59	127.07	-	-
Operating Expenses	280.93	287.99	231.18	186.61	56	36.82
Operating Income	-136.55	-238.45	-89.28	-128.94	-98.52	-71.06
Interest Expense	-36.27	-32.37	-23.75	-7.42	-3.2	-2.8
Interest & Investment Income	12.48	18.64	14.51	3.46	0.58	1.51
Other Non Operating Income (Expenses)	-5.06	-5.06	-	-	0.06	-1.17
EBT Excluding Unusual Items	-165.4	-257.24	-98.52	-132.91	-101.08	-73.52
Gain (Loss) on Sale of Investments	-	32.14	9.92	16.2	-4.45	41.5
Pretax Income	-214.42	-225.1	-88.6	-116.7	-105.54	-32.03
Income Tax Expense	2.34	2.36	18.19	2.5	-	0.1
Net Income	-216.77	-227.46	-106.79	-119.2	-105.54	-32.13
Net Income to Common	-216.77	-227.46	-106.79	-119.2	-105.54	-32.13
Shares Outstanding (Basic)	8	8	6	5	5	3
Shares Outstanding (Diluted)	8	8	6	5	5	3
Shares Change (YoY)	17.26%	27.70%	18.57%	10.02%	41.59%	41.88%
EPS (Basic)	-25.88	-29.61	-17.75	-23.49	-22.88	-9.86
EPS (Diluted)	-25.88	-29.61	-17.75	-23.49	-22.88	-9.90
Free Cash Flow	-225.11	-194.64	-115.93	-4.31	-97	-74.93
Free Cash Flow Per Share	-26.87	-25.33	-19.27	-0.85	-21.03	-23.00
Gross Margin	136.66%	79.85%	92.30%	85.09%	-68.71%	-80.14%
Operating Margin	-129.25%	-384.33%	-58.07%	-190.26%	-159.22%	-166.32%
Profit Margin	-205.18%	-366.62%	-69.47%	-175.89%	-170.55%	-75.20%
Free Cash Flow Margin	-213.08%	-313.72%	-75.41%	-6.36%	-156.76%	-175.39%
EBITDA	-128.99	-231.24	-82.46	-123.25	-93.68	-66.76
EBITDA Margin	-122.09%	-	-53.64%	-181.86%	-151.39%	-156.27%
D&A For EBITDA	7.57	7.22	6.82	5.69	4.84	4.3
EBIT	-136.55	-238.45	-89.28	-128.94	-98.52	-71.06
EBIT Margin	-129.25%	-	-58.07%	-190.26%	-159.22%	-166.32%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.