ImmunityBio, Inc. (IBRX) 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 14, 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 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IBRX SEC filings page.
ImmunityBio, Inc. (IBRX) reported $165.8M in revenue over the twelve months to Jun 30, 2026, up 192.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Revenue has become meaningful, but operations still consume cash and the balance sheet depends on outside financing.
In FY2025, a 99.3% gross margin still produced a-226.0% operating margin, showing that the main economic burden sits below direct production costs rather than in making the product. Operating cash flow of-$305M nearly matched free cash flow of-$309M , so the cash shortfall was primarily operational rather than a consequence of heavy capital investment.
Total liabilities of
Financing supplied
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of ImmunityBio, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
ImmunityBio, Inc. held $242.8M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $304.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and ImmunityBio, Inc. scores 28/100 among other emerging companies.
ImmunityBio, Inc. had 1.03B shares outstanding at the end of fiscal year 2025, against 853M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and ImmunityBio, Inc. scores 33/100 among other emerging companies.
Not available for ImmunityBio, Inc., and counted as zero in the overall score.
ImmunityBio, Inc. reported revenue of $113.3M in fiscal year 2025, against $14.7M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and ImmunityBio, Inc. scores 98/100 among other emerging companies.
ImmunityBio, Inc.'s operations used $304.9M of cash in fiscal year 2025, against $391.2M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and ImmunityBio, Inc. scores 55/100 among other emerging companies.
ImmunityBio, Inc.'s cash, cash equivalents and investments came to $242.8M at the end of fiscal year 2025, against $1.0B of total liabilities. Balance Sheet ranks emerging companies on that comparison, and ImmunityBio, Inc. scores 29/100 among other emerging companies.
ImmunityBio, Inc. scores -5.02, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($10.4B) relative to total liabilities ($1.0B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
ImmunityBio, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
ImmunityBio, Inc. reported a net loss of $351.5M while operations used $304.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
ImmunityBio, Inc. reported an operating loss of $256.0M against $60.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
ImmunityBio, Inc. generated $51.2M in revenue in Q2 2026. This represents an increase of 93.9% from the same quarter a year earlier. Against the prior quarter it is up 15.9%.
ImmunityBio, Inc.'s EBITDA was -$57.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.0% from the same quarter a year earlier. Against the prior quarter it is up 12.4%.
ImmunityBio, Inc. reported -$230.4M in net income in Q2 2026. This represents a decrease of 148.9% from the same quarter a year earlier. Against the prior quarter it is up 63.6%.
ImmunityBio, Inc. earned -$0.22 per diluted share (EPS) in Q2 2026. This represents a decrease of 120.0% from the same quarter a year earlier. Against the prior quarter it is up 64.5%.
Cash & Balance Sheet
ImmunityBio, Inc. recorded an outflow of $70.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 13.4% from the same quarter a year earlier. Against the prior quarter it is up 9.2%.
ImmunityBio, Inc. held $75.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
ImmunityBio, Inc.'s gross margin was 99.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
ImmunityBio, Inc. invested $3.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 225.3% from the same quarter a year earlier. Against the prior quarter it is up 98.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
IBRX 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $51.2M+93.9% | $44.2M+167.6% | $38.3M+407.0% | $32.1M+425.1% | $26.4M+2423.9% | $16.5M+41192.5% | $7.6M+5333.1% | $6.1M+7346.3% |
| Cost of Revenue | $298K+119.1% | $238K+310.3% | $382K | $177K | $136K | $58K | $0 | $0 |
| Gross Profit | $50.9M+93.8% | $44.0M+167.1% | $37.9M+401.9% | $31.9M+422.2% | $26.3M+2410.9% | $16.5M+41047.5% | $7.6M | $6.1M+7346.3% |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $35.2M-31.7% | $50.4M+4.2% |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $41.7M+26.0% | $35.9M+12.9% |
| Operating Income | -$61.7M+13.5% | -$69.8M-8.3% | -$64.7M+6.8% | -$55.6M+30.7% | -$71.3M+28.2% | -$64.4M+32.3% | -$69.4M+18.7% | -$80.3M-0.1% |
| EBITDA | -$57.3M+15.0% | -$65.4M-7.9% | -$60.3M+7.5% | -$52.2M+31.1% | -$67.4M+29.0% | -$60.6M+33.1% | -$65.2M+19.4% | -$75.9M-0.4% |
| Interest Expense | N/A | N/A | $14.8M-43.0% | $15.3M-48.0% | $15.5M-48.1% | $15.3M-48.0% | $26.0M-18.1% | $29.3M-16.3% |
| Income Tax | $0-100.0% | $9K+103.8% | -$135K | -$35K | $269K | -$234K | $0+100.0% | $0 |
| Net Income | -$230.4M-148.9% | -$632.8M-388.1% | -$62.0M-4.8% | -$67.3M+21.6% | -$92.6M+31.2% | -$129.6M+3.3% | -$59.2M+74.7% | -$85.7M+10.3% |
| EPS (Basic) | -$0.22-120.0% | -$0.62-313.3% | -$0.06+14.3% | -$0.07+41.7% | -$0.10+50.0% | -$0.15+25.0% | -$0.07+81.6% | -$0.12+36.8% |
| EPS (Diluted) | -$0.22-120.0% | -$0.62-313.3% | -$0.06 | -$0.07 | -$0.10+50.0% | -$0.15+25.0% | -$0.09+76.3% | -$0.14+26.3% |
| Diluted Shares (Avg) | 1.05B+18.2% | 1.03B+20.4% | N/A | 947M | 888M+29.3% | 853M+26.8% | N/A | 698M+40.0% |
IBRX 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 | $628.5M+56.3% | $646.6M+112.9% | $501.9M+31.1% | $519.0M+42.4% | $402.1M-9.5% | $303.8M-24.2% | $382.9M-24.1% | $364.6M-15.7% |
| Current Assets | $439.0M+110.9% | $453.0M+314.9% | $314.9M+70.6% | $329.5M+102.0% | $208.1M-14.3% | $109.2M-44.2% | $184.6M-37.2% | $163.2M-24.1% |
| Cash & Equivalents | $75.7M-45.0% | $205.2M+238.3% | $88.3M-38.4% | $60.2M-46.2% | $137.7M+5.8% | $60.7M-54.4% | $143.4M-46.0% | $112.0M-37.1% |
| Short-Term Investments | $281.7M+1660.6% | $175.7M+18770.6% | $154.5M+2321.0% | $197.6M+973.7% | $16.0M-81.8% | $931K-97.5% | $6.4M+532.4% | $18.4M+55.5% |
| Inventory | $1.9M-70.8% | $547K-93.5% | $910K-89.0% | $6.7M+242.3% | $6.6M+266.6% | $8.4M | $8.3M | $2.0M |
| Accounts Receivable | $53.5M+141.7% | $43.3M+154.1% | $42.6M+1703.9% | $32.0M+666.9% | $22.1M+2041.9% | $17.0M | $2.4M | $4.2M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% |
| Goodwill | N/A | $910K0.0% | $910K0.0% | $910K0.0% | $910K | $910K | $910K | $910K |
| Total Liabilities | $1.7B+72.3% | $1.5B+69.5% | $1.0B+15.0% | $1.0B-6.0% | $971.9M-14.9% | $894.2M-18.1% | $871.1M-20.1% | $1.1B+31.5% |
| Current Liabilities | $76.7M+51.5% | $68.0M+38.1% | $61.8M+12.4% | $57.1M-6.3% | $50.6M-18.5% | $49.2M-8.5% | $54.9M-5.7% | $61.0M-32.5% |
| Non-Current Liabilities | $1.6B+73.4% | $1.4B+71.3% | $939.7M+15.1% | $985.3M-6.0% | $921.3M-14.7% | $845.0M-18.6% | $816.1M-20.9% | $1.0B+39.2% |
| Total Equity | -$1.0B-83.4% | -$870.0M-47.1% | -$500.5M-2.3% | -$524.3M+29.6% | -$570.7M+18.3% | -$591.4M+14.5% | -$489.1M+16.7% | -$745.1M-81.0% |
| Retained Earnings | -$4.6B-27.6% | -$4.4B-24.4% | -$3.7B-10.4% | -$3.7B-10.5% | -$3.6B-11.4% | -$3.5B-13.2% | -$3.4B-14.0% | -$3.3B-21.5% |
Not reported in any period shown, so not listed: Long-Term Debt.
IBRX 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 | -$66.5M+16.6% | -$75.4M+12.3% | -$70.4M+17.3% | -$68.9M+30.2% | -$79.7M+20.5% | -$85.9M+19.7% | -$85.1M+26.1% | -$98.8M-13.0% |
| Depreciation & Amortization | $4.4M+13.0% | $4.4M+14.4% | $3.9M-6.6% | $3.4M-22.7% | $3.9M-11.4% | $3.8M-15.9% | $4.1M-9.3% | $4.4M-4.3% |
| Stock-Based Compensation | $8.5M-11.7% | $8.2M-14.3% | N/A | $8.9M+18.5% | $9.6M+0.1% | $9.5M+15.4% | N/A | $7.5M-48.2% |
| Capital Expenditures | $3.5M+225.3% | $1.8M+58.4% | $903K-57.2% | $741K-73.5% | $1.1M+49.3% | $1.1M-11.1% | $2.1M-73.5% | $2.8M-50.8% |
| Free Cash Flow | -$70.0M+13.4% | -$77.1M+11.4% | -$71.3M+18.3% | -$69.6M+31.4% | -$80.8M+20.0% | -$87.0M+19.6% | -$87.3M+29.2% | -$101.6M-9.1% |
| Investing Cash Flow | -$107.5M-565.8% | -$31.6M-866.5% | $43.6M+343.1% | -$181.4M-378.9% | -$16.1M+68.7% | $4.1M+111.6% | $9.8M+337.3% | $65.0M+516.0% |
| Financing Cash Flow | $44.4M-74.3% | $223.9M+22903.1% | $54.9M-48.7% | $173.5M+1013.6% | $172.8M+16.1% | -$982K-109.6% | $106.9M-46.7% | $15.6M-93.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IBRX 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.4%-0.1pp | 99.5%-0.2pp | 99.0%-1.0pp | 99.5%-0.5pp | 99.5%-0.5pp | 99.7%-0.3pp | 100.0% | 100.0%0.0pp |
| Operating Margin | -120.4% | -157.9% | -168.9% | -173.5% | -269.8% | -390.1% | -919.0% | -1314.3% |
| Net Margin | -449.6% | -1431.4% | -162.1% | -209.8% | -350.3% | -784.9% | -783.9% | -1404.0% |
| Return on Assets | -36.6%-13.6pp | -97.9%-55.2pp | -12.4%+3.1pp | -13.0%+10.6pp | -23.0%+7.3pp | -42.7%-9.2pp | -15.5%+30.9pp | -23.5%-1.4pp |
| Current Ratio | 5.72+1.6x | 6.67+4.4x | 5.10+1.7x | 5.77+3.1x | 4.11+0.2x | 2.22-1.4x | 3.36-1.7x | 2.68+0.3x |
| Asset Turnover | 0.080.0x | 0.070.0x | 0.08+0.1x | 0.060.0x | 0.07+0.1x | 0.05+0.1x | 0.020.0x | 0.020.0x |
| FCF Margin | -136.6% | -174.5% | -186.2% | -217.2% | -305.9% | -526.9% | -1155.4% | -1663.2% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$500.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| ImmunityBio, Inc. IBRX | FY2025 | $113.3M | -$351.5M | N/A | $10.4B | 41/100 |
| Celcuity Inc. CELC | FY2025 | N/A | -$177.0M | N/A | $3.2B | — |
| Apogee Therapeutics, Inc. APGE | FY2025 | N/A | -$255.8M | N/A | $10.2B | — |
| CG Oncology, Inc. CGON | FY2025 | $4.0M | -$161.0M | N/A | $5.6B | 61/100 |
| Amicus Therapeutics, Inc FOLD | FY2025 | $634.2M | -$27.1M | -4.3% | $4.5B | 44/100 |
| Xenon Pharmaceuticals Inc XENE | FY2025 | $7.5M | -$345.9M | N/A | $3.5B | 54/100 |
Where ImmunityBio, Inc. Ranks
Frequently Asked Questions
What is ImmunityBio, Inc.'s annual revenue?
ImmunityBio, Inc. (IBRX) reported $113.3M in total revenue for fiscal year 2025. This represents a 668.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ImmunityBio, Inc.'s revenue growing?
ImmunityBio, Inc. (IBRX) revenue grew by 668.3% year-over-year, from $14.7M to $113.3M in fiscal year 2025.
Is ImmunityBio, Inc. profitable?
No, ImmunityBio, Inc. (IBRX) reported a net income of -$351.5M in fiscal year 2025.
What is ImmunityBio, Inc.'s EBITDA?
ImmunityBio, Inc. (IBRX) had EBITDA of -$240.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is ImmunityBio, Inc.'s gross margin?
ImmunityBio, Inc. (IBRX) had a gross margin of 99.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is ImmunityBio, Inc.'s free cash flow?
ImmunityBio, Inc. (IBRX) recorded an outflow of $308.8M in free cash flow during fiscal year 2025. This represents a 22.4% change compared to the previous fiscal year. 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.
What is ImmunityBio, Inc.'s operating cash flow?
ImmunityBio, Inc. (IBRX) recorded an outflow of $304.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are ImmunityBio, Inc.'s total assets?
ImmunityBio, Inc. (IBRX) had $501.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are ImmunityBio, Inc.'s capital expenditures?
ImmunityBio, Inc. (IBRX) invested $3.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is ImmunityBio, Inc.'s current ratio?
ImmunityBio, Inc. (IBRX) had a current ratio of 5.10 as of fiscal year 2025, which is generally considered healthy.
What is ImmunityBio, Inc.'s return on assets (ROA)?
ImmunityBio, Inc. (IBRX) had a return on assets of -70.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ImmunityBio, Inc.'s P/E ratio?
ImmunityBio, Inc. (IBRX) 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 $10.4B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is ImmunityBio, Inc.'s price-to-sales ratio?
ImmunityBio, Inc. (IBRX) trades at 62.6x sales, its market capitalization divided by revenue of $165.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $10.4B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does ImmunityBio, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, ImmunityBio, Inc. (IBRX) held $242.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $304.9M over that year. Dividing the one by the other, the reported balance equals about 10 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.
Why is ImmunityBio, Inc.'s debt-to-equity ratio negative or not reported?
ImmunityBio, Inc. (IBRX) has negative shareholder equity of -$500.5M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is ImmunityBio, Inc.'s Altman Z-Score?
ImmunityBio, Inc. (IBRX) has an Altman Z-Score of -5.02, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is ImmunityBio, Inc.'s Piotroski F-Score?
ImmunityBio, Inc. (IBRX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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.
Are ImmunityBio, Inc.'s earnings high quality?
ImmunityBio, Inc. (IBRX) reported a net loss of $351.5M while operations used $304.9M 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.
Can ImmunityBio, Inc. cover its interest payments?
ImmunityBio, Inc. (IBRX) reported an operating loss of $256.0M against $60.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is ImmunityBio, Inc.?
ImmunityBio, Inc. (IBRX) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.