Inovio Pharmaceuticals (INO) Financial statements
Inovio Pharmaceuticals reported revenue of $65,343 in fiscal 2025, down 50.3% a year over 9 years.
Key figures
Net income was -$85M and the operating margin -132871.3%, against -215.5% in 2016. Free cash flow was -$89M. The diluted share count fell 36% over the period (buybacks).
- Revenue, FY2025
- $65,343-70.0% on 2024
- Net income
- -$85M-20.8% on 2024
- Operating margin
- -132871.3%
- Free cash flow
- -$89M-15.0% on 2024
Revenue and free cash flow
Fiscal years, from Inovio Pharmaceuticals's 10-K filings.
Inovio Pharmaceuticals revenue and free cash flow
FY2016–FY2025Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
Inovio Pharmaceuticals margins
FY2016–FY2025Financial statements
Fiscal 2016–2025.
Inovio Pharmaceuticals income statement, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35M | $42M | $30M | $4M | $7M | $2M | $10M | $832,010 | $217,756 | $65,343 |
| Research and development | $89M | $99M | $95M | $88M | $94M | $249M | $188M | $87M | $76M | $54M |
| Selling, general and admin | $24M | $28M | $29M | $27M | $37M | $54M | $90M | $48M | $37M | $33M |
| Operating income | -$76M | -$84M | -$94M | -$111M | -$124M | -$301M | -$268M | -$144M | -$112M | -$87M |
| Interest expense | — | $25,933 | $0 | $8M | $9M | $2M | $1M | $1M | $177,833 | $0 |
| Pre-tax income | -$74M | -$88M | -$95M | -$121M | -$163M | -$303M | -$278M | -$135M | -$107M | -$85M |
| Income tax | $0 | $0 | $2M | -$257,335 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$74M | -$88M | -$97M | -$119M | -$166M | -$304M | -$280M | -$135M | -$107M | -$85M |
| EPS (diluted) | -$1.01 | -$1.09 | -$1.05 | -$1.21 | -$1.07 | -$17.45 | -$14.07 | -$6.09 | -$3.95 | -$1.81 |
| Diluted shares | 73M | 82M | 93M | 99M | 155M | 17M | 20M | 22M | 27M | 47M |
| Operating margin | -215.5% | -198.1% | -308.7% | -2702.1% | -1674.2% | -16972.3% | -2607.4% | -17300.3% | -51616.9% | -132871.3% |
| Net margin | -208.5% | -208.9% | -318.1% | -2902.8% | -2245.4% | -17109.9% | -2726.7% | -16239.9% | -49254.3% | -130000.0% |
Inovio Pharmaceuticals balance sheet, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $105M | $127M | $81M | $90M | $412M | $401M | $253M | $145M | $94M | $58M |
| Receivables | $16M | $6M | $3M | $700,073 | $19M | $5M | $2M | $2M | $1M | $450 |
| Total current assets | $125M | $138M | $88M | $94M | $471M | $448M | $315M | $153M | $98M | $61M |
| Property, plant and equipment | $9M | $18M | $16M | $13M | $11M | $17M | $8M | $5M | $4M | $3M |
| Goodwill | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $0 | — | — |
| Total assets | $174M | $187M | $131M | $144M | $540M | $496M | $349M | $171M | $113M | $74M |
| Total current liabilities | $44M | $35M | $35M | $32M | $42M | $66M | $97M | $43M | $35M | $44M |
| Long-term debt | $0 | $0 | $0 | — | — | — | $17M | $0 | — | $0 |
| Total liabilities | $50M | $45M | $44M | $139M | $79M | $96M | $126M | $54M | $45M | $50M |
| Shareholders' equity | $123M | $142M | $87M | $3M | $461M | $400M | $222M | $117M | $69M | $24M |
| Net debt | -$19M | -$24M | -$24M | -$22M | -$251M | -$71M | -$30M | $2M | -$66M | -$44M |
Inovio Pharmaceuticals cash flow, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$63M | -$63M | -$74M | -$98M | -$178M | -$216M | -$216M | -$124M | -$104M | -$89M |
| Capital spending | $3M | $10M | $2M | $987,926 | $2M | $1M | $969,153 | $320,898 | $487,832 | $285,698 |
| Free cash flow | -$65M | -$74M | -$76M | -$99M | -$179M | -$217M | -$217M | -$125M | -$105M | -$89M |
| Stock-based compensation | $10M | $13M | $11M | $11M | $16M | $26M | $23M | $11M | $7M | $4M |
| Net borrowing | — | $0 | $0 | $97M | $0 | $0 | — | — | — | — |
| Free cash flow margin | -184.6% | -174.1% | -248.1% | -2403.7% | -2422.0% | -12223.6% | -2116.3% | -14986.2% | -48019.1% | -136074.5% |
How Inovio Pharmaceuticals compares
Inovio Pharmaceuticals's revenue growth is higher than 0% of Healthcare companies and 0% of the 3,491 companies with a revenue growth figure.
| Higher than | Healthcare | All stocks |
|---|---|---|
| Revenue growth | 0% | 0% |
| ROE | 0% | 0% |
Questions about Inovio Pharmaceuticals
What was Inovio Pharmaceuticals's revenue in 2025?
$65,343 in fiscal 2025, from its 10-K filing.
How much free cash flow does Inovio Pharmaceuticals generate?
-$89M in fiscal 2025 (operating cash flow minus capital spending).
From Inovio Pharmaceuticals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.