Immunitybio (IBRX) financial statements
Immunitybio reported revenue of $113M in fiscal 2025, up 139.3% a year over 9 years.
Net income was -$351M and the operating margin -226.0%, against -282954.5% in 2016.
Free cash flow was -$309M.
The diluted share count rose 1022% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Immunitybio's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44,000 | $45,000 | $47,000 | $2M | $605,000 | $934,000 | $240,000 | $622,000 | $15M | $113M |
| Cost of revenue | — | — | — | — | — | — | $0 | $0 | $0 | $753,000 |
| Gross profit | — | — | — | — | — | — | $240,000 | $622,000 | $15M | $113M |
| Research and development | $29M | $42M | $56M | $112M | $140M | $196M | $248M | $232M | $190M | — |
| Selling, general and admin | $95M | $57M | $43M | $46M | $71M | $135M | $103M | $130M | $169M | — |
| Operating income | -$124M | -$99M | -$98M | -$156M | -$221M | -$330M | -$351M | -$362M | -$344M | -$256M |
| Interest expense | $66,000 | $618,000 | — | $6M | $9M | $15M | $64M | $129M | $115M | $61M |
| Pre-tax income | -$121M | -$97M | -$97M | -$160M | -$226M | -$350M | -$417M | -$584M | -$414M | -$352M |
| Income tax | -$572,000 | -$493,000 | -$503,000 | -$105,000 | -$2M | $9,000 | $34,000 | -$40,000 | $0 | -$135,000 |
| Net income | -$121M | -$96M | -$96M | -$158M | -$222M | -$347M | -$417M | -$583M | -$414M | -$351M |
| EPS (diluted) | -$1.47 | -$1.20 | -$1.22 | -$0.43 | -$0.59 | -$0.89 | -$1.04 | -$1.15 | -$0.62 | -$0.38 |
| Diluted shares | 82M | 81M | 79M | 366M | 377M | 389M | 400M | 509M | 700M | 920M |
| Gross margin | — | — | — | — | — | — | 100.0% | 100.0% | 100.0% | 99.3% |
| Operating margin | -282954.5% | -220266.7% | -209338.3% | -7095.9% | -36509.1% | -35361.9% | -146374.2% | -58239.5% | -2334.2% | -226.0% |
| Net margin | -274565.9% | -214273.3% | -204736.2% | -7165.2% | -36669.6% | -37129.6% | -173569.6% | -93761.4% | -2804.8% | -310.2% |
Balance sheet
Fiscal years, from Immunitybio's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $199M | $128M | $74M | $112M | $96M | $317M | $107M | $266M | $150M | $243M |
| Receivables | — | — | — | — | — | — | — | $0 | $2M | $43M |
| Inventory | — | — | — | — | — | — | — | $0 | $8M | $910,000 |
| Total current assets | $205M | $132M | $89M | $56M | $112M | $334M | $141M | $294M | $185M | $315M |
| Property, plant and equipment | $19M | $77M | $77M | $61M | $73M | $83M | $144M | $146M | $137M | $114M |
| Goodwill | — | — | — | — | — | — | — | — | $910,000 | $910,000 |
| Total assets | $317M | $250M | $182M | $143M | $221M | $469M | $362M | $504M | $383M | $502M |
| Total current liabilities | $13M | $21M | $27M | $12M | $68M | $369M | $501M | $58M | $55M | $62M |
| Total liabilities | $24M | $32M | $36M | $22M | $340M | $713M | $812M | $1.1B | $871M | $1.0B |
| Shareholders' equity | $293M | $219M | $146M | $121M | -$120M | -$242M | -$447M | -$587M | -$489M | -$500M |
| Net debt | -$8M | -$24M | -$17M | -$76M | -$35M | -$181M | -$105M | -$265M | -$142M | -$87M |
Cash flow
Fiscal years, from Immunitybio's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$39M | -$49M | -$63M | -$152M | -$172M | -$274M | -$338M | -$367M | -$391M | -$305M |
| Capital spending | $7M | $35M | $13M | $4M | $2M | $34M | $78M | $31M | $7M | $4M |
| Free cash flow | -$45M | -$84M | -$76M | -$156M | -$173M | -$308M | -$416M | -$397M | -$398M | -$309M |
| Stock-based compensation | $74M | $37M | $23M | $3M | $2M | $57M | $40M | $49M | $34M | $37M |
| Share buybacks (net) | -$16M | -$15M | -$228,000 | -$3M | $0 | $0 | — | — | — | — |
| Net borrowing | — | — | — | — | — | — | — | $0 | $0 | -$1M |
| Free cash flow margin | -102620.5% | -185766.7% | -162729.8% | -7102.5% | -28660.0% | -32974.5% | -173196.2% | -63881.2% | -2700.1% | -272.9% |
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Open IBRX in InvestinglyQuestions
What was Immunitybio's revenue in 2025?
$113M in fiscal 2025, from its 10-K filing.
How much free cash flow does Immunitybio generate?
-$309M in fiscal 2025 (operating cash flow minus capital spending).
From Immunitybio's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.