Sana Biotechnology (SANA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SANA SEC filings page.
This page shows Sana Biotechnology, Inc. (SANA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sana remains a development-stage business: spending cuts reduced cash outflow, but losses still consume capital and leverage is rising.
With capital expenditures only$938K , free cash flow remained-$144.8M , so the cash deficit was primarily operating rather than an infrastructure buildout. That makes the 2025 improvement in cash use look like cost compression, not monetization: operating cash flow improved from-$223.2M in FY2024 to-$143.8M in FY2025.
R&D fell
Liabilities reached
Financial Health Signals
Sana Biotechnology, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Sana Biotechnology, Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Sana Biotechnology, Inc. reported a net loss of $244.2M while operations used $143.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Sana Biotechnology, Inc.'s EBITDA was -$63.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Sana Biotechnology, Inc. reported a net loss of $63.6M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Sana Biotechnology, Inc. earned -$0.22 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Sana Biotechnology, Inc. recorded an outflow of $34.4M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Sana Biotechnology, Inc. held $57.1M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Sana Biotechnology, Inc.'s quarterly ROE was -41.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 35.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Sana Biotechnology, Inc. invested $30.7M in research and development in Q2 2026. This represents an increase of 3.3% from the same quarter a year earlier. Against the prior quarter it is up 7.0%.
Sana Biotechnology, Inc. invested $1.6M in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 462.8%.
Not reported for Q2 2026.
SANA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $30.7M+3.3% | $28.7M-22.8% | $34.9M | $30.1M-43.4% | $29.8M-51.1% | $37.2M-34.1% | N/A | $53.2M-18.9% |
| SG&A Expenses | $10.8M+4.2% | $11.5M-0.2% | $12.2M-29.5% | $10.3M-26.8% | $10.3M-37.1% | $11.5M-29.4% | $17.3M-16.9% | $14.1M-26.7% |
| Operating Income | -$65.4Mn/m | -$48.6Mn/m | -$61.2Mn/m | -$43.5Mn/m | -$95.0Mn/m | -$50.6Mn/m | -$50.9Mn/m | -$61.8Mn/m |
| EBITDA | -$63.2Mn/m | -$46.2Mn/m | N/A | -$40.3Mn/m | -$92.1Mn/m | -$47.0Mn/m | N/A | -$57.7M-2586.5% |
| Net Income | -$63.6Mn/m | -$47.2Mn/m | -$58.8Mn/m | -$42.2Mn/m | -$93.8Mn/m | -$49.4Mn/m | -$49.1Mn/m | -$59.9M-6189.8% |
| EPS (Basic) | -$0.22n/m | -$0.17n/m | -$0.21n/m | -$0.16n/m | -$0.39n/m | -$0.21n/m | -$0.21n/m | -$0.25n/m |
| EPS (Diluted) | -$0.22n/m | -$0.17n/m | -$0.21n/m | -$0.16n/m | -$0.39n/m | -$0.21n/m | -$0.21n/m | -$0.25n/m |
| Diluted Shares (Avg) | 296M+24.0% | 277M+16.5% | N/A | 260M+10.7% | 238M+1.7% | 238M+9.3% | N/A | 235M+17.4% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
SANA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $431.5M+19.3% | $373.6M-16.1% | $416.9M-16.8% | $435.4M-22.2% | $361.6M-41.5% | $445.5M-34.6% | $501.0M-11.4% | $559.4M-11.4% |
| Current Assets | $170.6M+106.8% | $111.7M-0.9% | $148.7M-7.5% | $161.8M-23.0% | $82.5M-68.7% | $112.7M-64.9% | $160.8M-24.7% | $210.1M-24.8% |
| Cash & Equivalents | $57.1M-19.9% | $83.8M-12.8% | $71.9M-43.7% | $103.4M-18.6% | $71.3M-47.2% | $96.1M-45.7% | $127.6M-4.5% | $127.0M-24.6% |
| Short-Term Investments | $103.4M+7271.1% | $17.3M+102.3% | $66.5M+166.8% | $49.7M-31.0% | $1.4M-98.8% | $8.6M-93.6% | $24.9M-65.2% | $72.0M-28.1% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% | $140.6M0.0% |
| Total Liabilities | $277.0M+15.8% | $254.4M+7.6% | $256.0M+2.2% | $240.1M-10.0% | $239.1M-14.3% | $236.4M-22.8% | $250.5M-9.8% | $266.9M+0.5% |
| Current Liabilities | $123.8M+270.0% | $86.3M+160.2% | $78.7M+73.3% | $35.5M-24.4% | $33.4M-34.0% | $33.2M-37.3% | $45.4M-29.5% | $47.0M-29.5% |
| Non-Current Liabilities | $153.2M-25.5% | $168.1M-17.3% | $177.3M-13.6% | $204.6M-7.0% | $205.6M-9.9% | $203.2M-19.8% | $205.1M-3.9% | $219.9M+10.5% |
| Total Equity | $154.6M+26.1% | $119.2M-43.0% | $160.9M-35.8% | $195.3M-33.2% | $122.6M-63.9% | $209.1M-44.3% | $250.5M-12.9% | $292.5M-20.1% |
| Retained Earnings | -$2.0Bn/m | -$1.9Bn/m | -$1.8Bn/m | -$1.8Bn/m | -$1.7Bn/m | -$1.7Bn/m | -$1.6Bn/m | -$1.6Bn/m |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
SANA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$32.8Mn/m | -$37.4Mn/m | -$32.6Mn/m | -$29.4Mn/m | -$33.1Mn/m | -$48.7Mn/m | -$47.2Mn/m | -$51.8Mn/m |
| Depreciation & Amortization | $2.2M-24.1% | $2.4M-34.5% | $3.1M-18.4% | $3.2M-22.0% | $2.9M-25.6% | $3.6M-2.6% | $3.8M-66.4% | $4.1M-8.9% |
| Stock-Based Compensation | $5.3M-19.4% | $5.7M-19.4% | N/A | $5.5M-49.2% | $6.6M-41.7% | $7.0M-22.8% | N/A | $10.8M+19.6% |
| Capital Expenditures | $1.6M | $288K+111.8% | $873K+100.2% | $41K-99.0% | N/A | $136K-99.1% | $436K-96.9% | $4.1M+83.3% |
| Free Cash Flow | -$34.4M | -$37.7Mn/m | -$33.5Mn/m | -$29.5Mn/m | N/A | -$48.8Mn/m | -$47.6Mn/m | -$55.9Mn/m |
| Investing Cash Flow | -$87.5M-1239.6% | $49.4M+197.8% | -$16.5M-135.0% | -$48.0M-215.0% | $7.7M+32.0% | $16.6Mn/m | $47.1M+207.6% | $41.8M-18.6% |
| Financing Cash Flow | $93.6M+16581.3% | -$128K-113.0% | $17.6M+2644.9% | $109.5M+5161.3% | $561K-94.7% | $982K-99.5% | $643K-62.6% | $2.1M+1013.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SANA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -41.2%+35.4pp | -39.6%-16.0pp | -36.6%-17.0pp | -21.6%-1.1pp | -76.5%-61.7pp | -23.6%+5.0pp | -19.6%+11.1pp | -20.5%-20.8pp |
| Return on Assets | -14.8%+11.2pp | -12.6%-1.6pp | -14.1%-4.3pp | -9.7%+1.0pp | -25.9%-17.8pp | -11.1%+4.7pp | -9.8%+5.8pp | -10.7%-10.9pp |
| Current Ratio | 1.38-1.1x | 1.29-2.1x | 1.89-1.7x | 4.55+0.1x | 2.47-2.7x | 3.40-2.7x | 3.54+0.2x | 4.47+0.3x |
| Liabilities-to-Equity | 1.79-0.2x | 2.13+1.0x | 1.59+0.6x | 1.23+0.3x | 1.95+1.1x | 1.13+0.3x | 1.000.0x | 0.91+0.2x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Debt-to-Equity, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Sana Biotechnology, Inc. SANA | FY2025 | N/A | -$244.2M | N/A | $769.4M | — |
| Prime Medicine, Inc. PRME | FY2025 | $4.6M | -$201.1M | N/A | $856.1M | 58/100 |
| Corvus Pharmaceuticals, Inc. CRVS | FY2025 | N/A | -$15.3M | N/A | $843.7M | — |
| Ardelyx, Inc. ARDX | FY2025 | $407.3M | -$61.6M | -15.1% | $782.3M | 46/100 |
| Annexon, Inc. ANNX | FY2025 | N/A | -$206.7M | N/A | $767.8M | — |
| OmniAb, Inc. OABI | FY2025 | $18.7M | -$64.8M | N/A | $745.3M | 51/100 |
Where Sana Biotechnology, Inc. Ranks
Frequently Asked Questions
No, Sana Biotechnology, Inc. (SANA) reported a net loss of $211.8M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $244.2M.
Sana Biotechnology, Inc. (SANA) had EBITDA of -$237.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Sana Biotechnology, Inc. (SANA) has a return on equity of -151.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Sana Biotechnology, Inc. (SANA) recorded an outflow of $144.8M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Sana Biotechnology, Inc. (SANA) recorded an outflow of $143.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Sana Biotechnology, Inc. (SANA) had $416.9M in total assets as of fiscal year 2025, including both current and long-term assets.
Sana Biotechnology, Inc. (SANA) invested $938K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Sana Biotechnology, Inc. (SANA) invested $132.0M in research and development during fiscal year 2025.
Sana Biotechnology, Inc. (SANA) had a current ratio of 1.89 as of fiscal year 2025, which is generally considered healthy.
Sana Biotechnology, Inc. (SANA) had a liabilities-to-equity ratio of 1.59 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Sana Biotechnology, Inc. (SANA) had a return on assets of -58.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Sana Biotechnology, Inc. (SANA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $769.4M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Sana Biotechnology, Inc. (SANA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $769.4M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
At the end of fiscal year 2025, Sana Biotechnology, Inc. (SANA) held $138.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $143.8M over that year. Dividing the one by the other, the reported balance equals about 12 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Sana Biotechnology, Inc. (SANA) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Sana Biotechnology, Inc. (SANA) reported a net loss of $244.2M while operations used $143.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.