SANA

MKT CAP:$886M

Sana Biotechnology, Inc.

Market Cap

$886M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$3.65-$0.54 (-12.89%)

Apr 22, 2026

Company Details

Sana Biotechnology, Inc., a biotechnology company, focuses on utilizing engineered cells as medicines. The company develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including o...

CEO

Steven D. Harr

IPO Date

Feb 4, 2021

Website

www.sana.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$244M

EPS (Diluted)

-$0.96

Free Cash Flow

-$145M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 3, 2026

$0EPS -$0.96

Q4 2025

Mar 3, 2026

$0EPS -$0.20

Q3 2025

Nov 6, 2025

$0EPS -$0.16

Q2 2025

Aug 11, 2025

$0EPS -$0.39

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$32M
Q2 22	$0	$0	-$73M
Q3 22	$0	$0	-$86M
Q4 22	$0	$0	-$82M
Q1 23	$0	$0	-$84M
Q2 23	$0	$0	-$116M
Q3 23	$0	$0	-$2M
Q4 23	$0	$0	-$91M
Q1 24	$0	$0	-$111M
Q2 24	$0	$0	-$49M
Q3 24	$0	$0	-$62M
Q4 24	$0	$0	-$51M
Q1 25	$0	$0	-$51M
Q2 25	$0	$0	-$95M
Q3 25	$0	$0	-$44M
Q4 25	$0	-$3M	-$2M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$78M	-$85M
Q2 22	-$71M	-$76M
Q3 22	-$65M	-$69M
Q4 22	-$76M	-$81M
Q1 23	-$79M	-$81M
Q2 23	-$59M	-$60M
Q3 23	-$64M	-$66M
Q4 23	-$52M	-$66M
Q1 24	-$66M	-$81M
Q2 24	-$59M	-$72M
Q3 24	-$52M	-$56M
Q4 24	-$47M	-$48M
Q1 25	-$49M	-$49M
Q2 25	-$33M	-$33M
Q3 25	-$29M	-$29M
Q4 25	-$33M	-$34M

Capital Expenditures

Quarter	CapEx
Q1 22	$8M
Q2 22	$4M
Q3 22	$4M
Q4 22	$5M
Q1 23	$2M
Q2 23	$2M
Q3 23	$2M
Q4 23	$14M
Q1 24	$16M
Q2 24	$13M
Q3 24	$4M
Q4 24	$436.0K
Q1 25	$136.0K
Q2 25	$112.0K
Q3 25	$41.0K
Q4 25	$873.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	-82.5%
Q2 22	—	+493.0%
Q3 22	—	+3.3%
Q4 22	—	-26.5%
Q1 23	—	+165.3%
Q2 23	—	+59.5%
Q3 23	—	-97.5%
Q4 23	—	+10.8%
Q1 24	—	+31.7%
Q2 24	—	-57.5%
Q3 24	—	+2731.8%
Q4 24	—	-43.9%
Q1 25	—	-54.3%
Q2 25	—	+92.4%
Q3 25	—	-29.5%
Q4 25	—	-96.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$8M	—
Q2 22	$10M	—
Q3 22	$10M	—
Q4 22	$11M	—
Q1 23	$9M	—
Q2 23	$10M	—
Q3 23	$9M	—
Q4 23	$8M	—
Q1 24	$9M	—
Q2 24	$11M	—
Q3 24	$11M	—
Q4 24	$6M	—
Q1 25	$7M	—
Q2 25	$7M	—
Q3 25	$0	—
Q4 25	$6M	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$17M	$14M
Q2 22	$55M	$18M
Q3 22	$71M	$16M
Q4 22	$58M	$23M
Q1 23	$67M	$17M
Q2 23	$100M	$17M
Q3 23	—	$19M
Q4 23	$70M	$21M
Q1 24	$94M	$16M
Q2 24	$33M	$16M
Q3 24	$48M	$14M
Q4 24	$34M	$17M
Q1 25	$39M	$11M
Q2 25	$40M	$10M
Q3 25	$33M	$10M
Q4 25	$20M	$12M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$189M	$324M	$512M
Q2 22	$195M	$290M	$485M
Q3 22	$163M	$322M	$486M
Q4 22	$177M	$247M	$424M
Q1 23	$160M	$189M	$349M
Q2 23	$174M	$152M	$326M
Q3 23	$168M	$100M	$269M
Q4 23	$134M	$72M	$205M
Q1 24	$177M	$134M	$311M
Q2 24	$135M	$117M	$252M
Q3 24	$127M	$72M	$199M
Q4 24	$128M	$25M	$152M
Q1 25	$96M	$9M	$105M
Q2 25	$71M	$1M	$73M
Q3 25	$103M	$50M	$153M
Q4 25	$72M	$67M	$138M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	186M	+1.1%	+1.7%
Q2 22	188M	+0.9%	-1.5%
Q3 22	189M	+0.9%	+4.1%
Q4 22	190M	+0.6%	+3.5%
Q1 23	191M	+0.4%	+2.8%
Q2 23	193M	+0.7%	+2.6%
Q3 23	200M	+4.1%	+5.9%
Q4 23	197M	-1.6%	+3.6%
Q1 24	217M	+10.1%	+13.6%
Q2 24	234M	+7.9%	+21.8%
Q3 24	235M	+0.4%	+17.4%
Q4 24	236M	+0.4%	+19.8%
Q1 25	238M	+0.5%	+9.3%
Q2 25	238M	+0.3%	+1.7%
Q3 25	260M	+9.3%	+10.7%
Q4 25	253M	-2.8%	+7.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	383
Q2 22	$0	383
Q3 22	$0	383
Q4 22	$0	421
Q1 23	$0	421
Q2 23	$0	421
Q3 23	$0	421
Q4 23	$0	421
Q1 24	$0	421
Q2 24	$0	421
Q3 24	$0	421
Q4 24	$0	194
Q1 25	$0	194
Q2 25	$0	194
Q3 25	$0	194
Q4 25	$0	142

Revenue / Employee