Starling Oncology Reports 34.6% Revenue Growth to $161.3 Million in Q2 2026

Starling Oncology, Inc. reported significant financial results for the second quarter of 2026, with total operating revenue reaching $161.3 million, a 34.6% increase from $119.8 million in the same period of 2025. The growth was driven primarily by a 57.6% rise in specialty pharmacy revenue, which totaled $98.6 million, and a 5.3% increase in patient services revenue, amounting to $58.8 million. Clinical trials and other revenue also saw a substantial increase of 187.5%, reaching $3.8 million. For the first half of 2026, total revenue was $308.7 million, up 37.7% from $224.2 million in the prior year.

Despite the revenue growth, Starling reported a net loss of $9.8 million for the second quarter, an improvement from a net loss of $17.0 million in the same quarter of 2025. The loss attributable to common stockholders was $8.2 million, or $(0.08) per share, compared to $(0.15) per share in the previous year. For the six months ended June 30, 2026, the net loss was $12.3 million, significantly reduced from $36.6 million in the same period of 2025. The company attributed the improved financial performance to increased patient volume and enhanced operational efficiencies.

Operationally, Starling Oncology expanded its footprint, managing 65 community-based oncology practices across five states, with a total of 125 oncologists and advanced practice providers. The company reported managing approximately 2.1 million patients under value-based agreements, reflecting a strategic focus on enhancing patient care while controlling costs. The company also noted a 48% increase in capitated revenue, which contributed to the overall growth in patient services revenue.

In terms of expenses, total operating expenses for the second quarter were $165.9 million, up 26.6% from $131.0 million in the prior year. Direct costs associated with patient services and specialty pharmacy increased significantly, driven by higher clinical payroll costs and increased prescription fill volumes. Selling, general, and administrative expenses also rose by 11.3%, reflecting the scaling of operations. However, as a percentage of revenue, these expenses decreased, indicating improved operational leverage.

Looking ahead, Starling Oncology expressed confidence in its ability to sustain growth and manage costs effectively. The company reported cash and cash equivalents of $41.1 million as of June 30, 2026, and indicated that it has sufficient liquidity to fund operations for at least the next year. The company is focused on expanding its market presence and enhancing its service offerings, which it believes will further improve financial performance in the coming quarters.