STRO (STRO) financial statements
STRO reported revenue of $102M in fiscal 2025, up 6.2% a year over 9 years.
Net income was -$191M and the operating margin -154.5%, against 2.3% in 2016.
Free cash flow was -$179M.
The diluted share count rose 20741% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from STRO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60M | $52M | $38M | $43M | $43M | $62M | $68M | $154M | $62M | $102M |
| Research and development | $44M | $55M | $54M | $66M | $77M | $104M | $137M | $180M | $252M | $166M |
| Selling, general and admin | $15M | $16M | $21M | $33M | $37M | $56M | $60M | $63M | $48M | $41M |
| Operating income | $1M | -$19M | -$37M | -$55M | -$71M | -$99M | -$129M | -$89M | -$238M | -$158M |
| Interest expense | $0 | $612,000 | $2M | $1M | $2M | $3M | $2M | $1M | — | — |
| Pre-tax income | — | — | — | — | -$32M | -$106M | -$117M | -$89M | -$225M | -$191M |
| Income tax | — | $0 | $0 | $0 | $103,000 | $0 | $2M | $18M | $2M | -$93,000 |
| Net income | $2M | -$20M | -$35M | -$119M | -$32M | -$106M | -$119M | -$107M | -$227M | -$191M |
| EPS (diluted) | $0.00 | -$439.50 | -$61.30 | -$24.30 | -$9.90 | -$22.90 | -$23.50 | -$17.80 | -$29.40 | -$22.49 |
| Diluted shares | 0M | 0M | 1M | 2M | 3M | 5M | 5M | 6M | 8M | 8M |
| Operating margin | 2.3% | -37.2% | -96.9% | -129.8% | -166.3% | -159.2% | -190.3% | -58.1% | -384.3% | -154.5% |
| Net margin | 2.8% | -38.1% | -91.9% | -278.9% | -75.2% | -170.6% | -175.9% | -69.5% | -366.6% | -186.5% |
Balance sheet
Fiscal years, from STRO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $12M | $22M | $204M | $118M | $326M | $161M | $302M | $334M | $317M | $141M |
| Receivables | — | $2M | $2M | $6M | $6M | $12M | $7M | $36M | $9M | $4M |
| Total current assets | — | $26M | $210M | $129M | $378M | $219M | $353M | $422M | $343M | $151M |
| Property, plant and equipment | — | $14M | $11M | $10M | $13M | $23M | $25M | $22M | $18M | $11M |
| Total assets | — | $41M | $223M | $156M | $394M | $341M | $407M | $471M | $387M | $174M |
| Total current liabilities | — | $32M | $36M | $33M | $30M | $42M | $67M | $94M | $132M | $75M |
| Long-term debt | — | — | $10M | $9M | $25M | $16M | $4M | $0 | — | — |
| Total liabilities | — | $47M | $92M | $59M | $62M | $89M | $190M | $321M | $343M | $306M |
| Shareholders' equity | -$91M | -$109M | $132M | $98M | $332M | $253M | $217M | $150M | $45M | -$132M |
| Net debt | -$12M | -$7M | -$111M | $5M | -$182M | -$5M | -$31M | -$65M | -$190M | -$58M |
Cash flow
Fiscal years, from STRO's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13M | -$37M | $13M | -$65M | -$68M | -$82M | $4M | -$112M | -$192M | -$177M |
| Capital spending | $4M | $3M | $2M | $3M | $7M | $15M | $8M | $4M | $3M | $2M |
| Free cash flow | -$18M | -$40M | $11M | -$69M | -$75M | -$97M | -$4M | -$116M | -$195M | -$179M |
| Stock-based compensation | $968,000 | $1M | $3M | $10M | $12M | $23M | $26M | $25M | $25M | $14M |
| Share buybacks (net) | — | — | — | — | — | -$7,000 | — | — | — | — |
| Net borrowing | $0 | $15M | $0 | -$5M | $15M | — | -$9M | -$12M | -$4M | $0 |
| Free cash flow margin | -29.4% | -78.1% | 29.0% | -160.3% | -175.4% | -156.8% | -6.4% | -75.4% | -313.7% | -174.6% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for STRO.
Open STRO in InvestinglyQuestions
What was STRO's revenue in 2025?
$102M in fiscal 2025, from its 10-K filing.
How much free cash flow does STRO generate?
-$179M in fiscal 2025 (operating cash flow minus capital spending).
From STRO's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.