What is ImageneBio's earnings per share (EPS)?

ImageneBio (IMA) reported diluted earnings per share of $-9.64 for fiscal year 2025. This represents a 56.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ImageneBio Financials

IMA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows ImageneBio (IMA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

Rhea AI IMA FY2025 2026-05-07

External financing, not commercial revenue, is the core operating engine as the company shifts between cash burn and recapitalization.

After FY2024 ended with only $12.1M of cash, FY2025 brought $135.5M of financing cash flow. That balance-sheet reset lifted cash to $94.5M, but operating cash burn still ran -$47.8M, so the recovery in liquidity came from new capital rather than from the business funding itself.

With revenue at just $800K, R&D spend of $28.5M shows the income statement is still shaped by program investment, not by a scaled sales base. The fact that research expense still exceeded SG&A means spending is aimed more at advancing development work than at supporting a mature commercial operation.

Losses are also high-quality in a cash sense: net loss of -$45.3M and operating cash flow of -$47.8M were close, so cash burn broadly matches reported earnings pressure. Because investing outflows were much smaller than operating burn, this is a capital-light fixed-asset model whose financing needs are driven more by sustaining research than by building physical infrastructure.

Financial Health Signals

Financial health score pending refresh

We are recalculating ImageneBio's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-0.15

ImageneBio scores -0.15, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($65.5M) relative to total liabilities ($19.8M). 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.

Piotroski F-Score Partial

2/6

ImageneBio passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.06x

For every $1 of reported earnings, ImageneBio generates $1.06 in operating cash flow (-$47.8M OCF vs -$45.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-99.1x

ImageneBio earns $-99.1 in operating income for every $1 of interest expense (-$48.5M vs $489K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$800K

YoY-77.1%

5Y CAGR-38.6%

ImageneBio generated $800K in revenue in fiscal year 2025. This represents a decrease of 77.1% from the prior year.

EBITDA

-$48.1M

YoY-33.8%

ImageneBio's EBITDA was -$48.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 33.8% from the prior year.

Net Income

-$45.3M

YoY-24.0%

ImageneBio reported -$45.3M in net income in fiscal year 2025. This represents a decrease of 24.0% from the prior year.

EPS (Diluted)

$-9.64

YoY+56.4%

ImageneBio earned $-9.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 56.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$94.5M

YoY+680.1%

5Y CAGR-10.3%

ImageneBio held $94.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

-6056.4%

YoY-4999.2pp

5Y CAGR-5572.2pp

ImageneBio's operating margin was -6056.4% in fiscal year 2025, reflecting core business profitability. This is down 4999.2 percentage points from the prior year.

Net Margin

-5668.6%

YoY-4623.8pp

5Y CAGR-5187.3pp

ImageneBio's net profit margin was -5668.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4623.8 percentage points from the prior year.

Return on Equity

-34.1%

ImageneBio's ROE was -34.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$28.5M

YoY-11.2%

5Y CAGR-8.7%

ImageneBio invested $28.5M in research and development in fiscal year 2025. This represents a decrease of 11.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

IMA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$800K-77.1%	$3.5M-61.8%	$9.2M-41.3%	$15.6M-49.6%	$31.0M+237.0%	$9.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$28.5M-11.2%	$32.1M-46.2%	$59.7M-7.3%	$64.3M+36.5%	$47.1M+5.0%	$44.8M
SG&A Expenses	$20.7M+147.0%	$8.4M-66.3%	$24.9M+12.3%	$22.2M+23.2%	$18.0M+103.2%	$8.9M
Operating Income	-$48.5M-30.9%	-$37.0M+50.9%	-$75.4M-6.4%	-$70.9M-107.7%	-$34.1M+23.3%	-$44.5M
Interest Expense	$489K	$0	N/A	N/A	N/A	N/A
Income Tax	-$350K-2792.3%	$13K+108.0%	-$162K	$0	$0	N/A
Net Income	-$45.3M-24.0%	-$36.6M+46.4%	-$68.2M+0.9%	-$68.8M-101.6%	-$34.1M+22.9%	-$44.3M
EPS (Diluted)	$-9.64+56.4%	$-22.10-1255.8%	$-1.63+14.2%	$-1.90-55.7%	$-1.22	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$800K	N/A	$0	N/A	$800K	N/A	$3.5M	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$6.0M	N/A	$15.6M+286.5%	$4.0M-0.4%	$4.0M	N/A	$3.9M-60.5%	$9.8M
SG&A Expenses	$6.1M	N/A	$11.0M+149.9%	$4.4M+60.3%	$2.8M	N/A	$1.7M-68.9%	$5.3M
Operating Income	-$12.1M	N/A	-$26.6M-203.9%	-$8.8M-46.0%	-$6.0M	N/A	-$2.0M+87.1%	-$15.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$10K	N/A	-$74K-593.3%	$15K-46.4%	$28K	N/A	$0-100.0%	$62K
Net Income	-$10.6M	N/A	-$24.8M-226.7%	-$7.6M-24.8%	-$6.1M	N/A	-$3.2M+49.1%	-$6.3M
EPS (Diluted)	$-0.95	N/A	$-2.91	$-0.06+98.4%	$-3.80	N/A	$-2.58-821.4%	$-0.28

IMA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$153.0M+860.8%	$15.9M-91.7%	$192.1M+11.5%	$172.3M-30.5%	$247.9M+47.2%	$168.4M
Current Assets	$140.3M+1025.2%	$12.5M-93.0%	$178.7M+11.7%	$160.0M-32.3%	$236.5M+42.5%	$166.0M
Cash & Equivalents	$94.5M+680.1%	$12.1M-89.9%	$119.9M+100.1%	$59.9M-74.2%	$232.2M+42.9%	$162.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$19.8M-88.8%	$176.5M-44.5%	$318.2M+1158.2%	$25.3M-36.8%	$40.0M-85.2%	$269.5M
Current Liabilities	$11.2M-34.7%	$17.2M+21.1%	$14.2M-33.9%	$21.5M-20.9%	$27.2M-4.0%	$28.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$133.1M+182.9%	-$160.6M-27.3%	-$126.1M-185.8%	$147.0M-29.3%	$207.9M+305.7%	-$101.0M
Retained Earnings	-$230.1M-27.9%	-$179.9M+36.3%	-$282.4M-31.8%	-$214.2M-47.3%	-$145.5M-30.6%	-$111.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$136.7M-10.7%	$153.0M-4.9%	$160.9M+27.5%	$126.2M-3.6%	$130.8M+721.7%	$15.9M-89.3%	$149.0M-5.4%	$157.5M
Current Assets	$122.0M-13.0%	$140.3M-4.9%	$147.5M+49.0%	$99.0M-15.4%	$117.0M+838.4%	$12.5M-91.2%	$141.5M-5.2%	$149.3M
Cash & Equivalents	$76.0M-19.6%	$94.5M-8.4%	$103.2M+77.0%	$58.3M+58.6%	$36.8M+203.4%	$12.1M-73.2%	$45.2M+2.1%	$44.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$13.4M-32.7%	$19.8M-5.7%	$21.0M-93.1%	$306.5M+2.0%	$300.4M+70.2%	$176.5M-41.5%	$301.7M-0.8%	$304.1M
Current Liabilities	$6.6M-40.9%	$11.2M+0.8%	$11.1M+52.2%	$7.3M-16.7%	$8.8M-48.9%	$17.2M+86.2%	$9.2M+12.7%	$8.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$123.3M-7.4%	$133.1M-4.8%	$139.8M+177.5%	-$180.4M-6.3%	-$169.6M-5.6%	-$160.6M-5.1%	-$152.8M-4.2%	-$146.6M
Retained Earnings	-$240.7M-4.6%	-$230.1M-3.1%	-$223.1M+34.9%	-$343.0M-0.8%	-$340.2M-89.1%	-$179.9M+44.2%	-$322.5M-3.3%	-$312.3M

IMA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$47.8M-124.4%	-$21.3M+73.3%	-$79.7M-7.6%	-$74.1M-23.0%	-$60.3M-59.3%	-$37.8M
Capital Expenditures	N/A	N/A	$414K-71.1%	$1.4M-18.7%	$1.8M+129.8%	$766K
Free Cash Flow	N/A	N/A	-$80.2M-6.1%	-$75.5M-21.8%	-$62.0M-60.7%	-$38.6M
Investing Cash Flow	-$5.8M-152.3%	$11.1M-82.7%	$64.1M+164.6%	-$99.3M-5541.1%	-$1.8M-160.2%	$2.9M
Financing Cash Flow	$135.5M+1861.6%	$6.9M-90.9%	$76.0M+6838.8%	$1.1M-99.2%	$131.7M+13.4%	$116.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$663K	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$14.8M-105.0%	-$7.2M+72.9%	-$26.6M-294.5%	-$6.8M+6.6%	-$7.2M-108.1%	-$3.5M-126.8%	$13.0M+203.7%	-$12.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$440K+67.7%	-$1.4M+96.3%	-$37.3M-213.5%	$32.9M	$0-100.0%	$103K-99.8%	$55.8M+1325.2%	$3.9M
Financing Cash Flow	-$3.2M	$0	N/A	N/A	$27K-99.6%	$6.9M	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

IMA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-6056.4%-4999.2pp	-1057.1%-233.8pp	-823.3%-369.3pp	-454.0%-343.8pp	-110.2%+374.0pp	-484.2%
Net Margin	-5668.6%-4623.8pp	-1044.8%-300.6pp	-744.2%-303.9pp	-440.3%-330.2pp	-110.1%+371.3pp	-481.4%
Return on Equity	-34.1%	N/A	N/A	-46.8%-30.4pp	-16.4%	N/A
Return on Assets	-29.6%+200.0pp	-229.7%-194.2pp	-35.5%+4.4pp	-39.9%-26.2pp	-13.8%+12.5pp	-26.3%
Current Ratio	12.49+11.8	0.72-11.9	12.58+5.1	7.44-1.3	8.70+2.8	5.86
Debt-to-Equity	0.15	N/A	N/A	0.17-0.0	0.19	N/A
FCF Margin	N/A	N/A	-875.1%-391.4pp	-483.7%-283.5pp	-200.1%+219.6pp	-419.8%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1509.9%	N/A	N/A	N/A	-749.4%	N/A	-58.2%	N/A
Net Margin	-1327.4%	N/A	N/A	N/A	-759.6%	N/A	-90.9%	N/A
Return on Equity	-8.6%	N/A	-17.7%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-7.8%	N/A	-15.4%-9.4pp	-6.0%-1.4pp	-4.6%	N/A	-2.1%+1.8pp	-4.0%
Current Ratio	18.39+5.9	12.49-0.8	13.24-0.3	13.52+0.2	13.31+12.6	0.72-14.6	15.32-2.9	18.22
Debt-to-Equity	0.11-0.0	0.150.0	0.15	N/A	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is ImageneBio's annual revenue?

ImageneBio (IMA) reported $800K in total revenue for fiscal year 2025. This represents a -77.1% 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 ImageneBio's revenue growing?

ImageneBio (IMA) revenue declined by 77.1% year-over-year, from $3.5M to $800K in fiscal year 2025.

Is ImageneBio profitable?

No, ImageneBio (IMA) reported a net income of -$45.3M in fiscal year 2025, with a net profit margin of -5668.6%.

What is ImageneBio's EBITDA?

ImageneBio (IMA) had EBITDA of -$48.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is ImageneBio's operating margin?

ImageneBio (IMA) had an operating margin of -6056.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ImageneBio's net profit margin?

ImageneBio (IMA) had a net profit margin of -5668.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ImageneBio's return on equity (ROE)?

ImageneBio (IMA) has a return on equity of -34.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ImageneBio's operating cash flow?

ImageneBio (IMA) generated -$47.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ImageneBio's total assets?

ImageneBio (IMA) had $153.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does ImageneBio spend on research and development?

ImageneBio (IMA) invested $28.5M in research and development during fiscal year 2025.

What is ImageneBio's current ratio?

ImageneBio (IMA) had a current ratio of 12.49 as of fiscal year 2025, which is generally considered healthy.

What is ImageneBio's debt-to-equity ratio?

ImageneBio (IMA) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ImageneBio's return on assets (ROA)?

ImageneBio (IMA) had a return on assets of -29.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ImageneBio's cash runway?

Based on fiscal year 2025 data, ImageneBio (IMA) had $94.5M in cash against an annual operating cash burn of $47.8M. This gives an estimated cash runway of approximately 24 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is ImageneBio's Altman Z-Score?

ImageneBio (IMA) has an Altman Z-Score of -0.15, 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 ImageneBio's Piotroski F-Score?

ImageneBio (IMA) has a Piotroski F-Score of 2 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.

Are ImageneBio's earnings high quality?

ImageneBio (IMA) has an earnings quality ratio of 1.06x, considered low quality (accrual-driven). 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 ImageneBio cover its interest payments?

ImageneBio (IMA) has an interest coverage ratio of -99.1x, meaning it can struggle to cover its interest obligations. 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.