Immix Biopharma Inc Financials
This page shows Immix Biopharma Inc (IMMX) 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).
Immix’s visible business mechanic is equity-funded cash accumulation, leaving $93.9M on hand even as annual operating burn keeps widening.
FY2025 looked more liquid but not more self-funding: cash climbed to$93.9M while operating cash outflow worsened to-$23.9M . Because financing cash flow was$107.4M and shares outstanding reached 53.0M, the balance-sheet improvement came from equity issuance, not operating progress; even the better return ratios mainly reflect a much larger cash base.
Spending is scaling on two fronts, not just in the lab: R&D rose to
Cash burn is mostly operating, not capital-intensive: free cash flow was
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Immix Biopharma 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.
Immix Biopharma Inc carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 10.01, Immix Biopharma Inc holds $10.01 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Immix Biopharma Inc generates a -31.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -163.1% the prior year.
Immix Biopharma Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Immix Biopharma Inc generates $0.81 in operating cash flow (-$23.9M OCF vs -$29.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Immix Biopharma Inc's EBITDA was -$29.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 31.2% from the prior year.
Immix Biopharma Inc reported -$29.4M in net income in fiscal year 2026. This represents a decrease of 36.0% from the prior year.
Immix Biopharma Inc earned $-0.89 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 17.1% from the prior year.
Cash & Balance Sheet
Immix Biopharma Inc generated -$24.7M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 56.4% from the prior year.
Immix Biopharma Inc held $93.9M in cash against $0 in long-term debt as of fiscal year 2026.
Immix Biopharma Inc had 53M shares outstanding in fiscal year 2026. This represents an increase of 92.3% from the prior year.
Margins & Returns
Immix Biopharma Inc's ROE was -31.3% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 131.8 percentage points from the prior year.
Capital Allocation
Immix Biopharma Inc invested $16.3M in research and development in fiscal year 2026. This represents an increase of 44.0% from the prior year.
Immix Biopharma Inc invested $733K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 37.8% from the prior year.
IMMX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.0M | N/A | N/A | N/A | N/A | N/A | N/A | 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 | $4.6M+15.4% | $4.0M+101.1% | $2.0M | N/A | $4.4M+99.9% | $2.2M |
| SG&A Expenses | $4.8M | N/A | $3.1M+12.1% | $2.7M+1.4% | $2.7M | N/A | $2.9M+19.0% | $2.5M |
| Operating Income | -$10.8M | N/A | -$7.7M-14.1% | -$6.7M-43.5% | -$4.7M | N/A | -$7.4M-57.3% | -$4.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $10K | N/A | $8K-13.4% | $9K-9.2% | $10K | N/A | $11K+8.5% | $10K |
| Net Income | -$10.1M | N/A | -$7.6M-14.5% | -$6.6M-45.8% | -$4.5M | N/A | -$7.1M-62.7% | -$4.4M |
| EPS (Diluted) | $-0.18 | N/A | $-0.24-9.1% | $-0.22-46.7% | $-0.15 | N/A | $-0.24-60.0% | $-0.15 |
IMMX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $95.8M-8.6% | $104.8M+422.1% | $20.1M+28.4% | $15.6M-21.4% | $19.9M-13.3% | $22.9M-8.7% | $25.1M-12.8% | $28.8M |
| Current Assets | $92.3M-8.9% | $101.2M+510.4% | $16.6M+34.6% | $12.3M-26.5% | $16.8M-16.9% | $20.2M-11.2% | $22.8M-16.7% | $27.3M |
| Cash & Equivalents | $79.3M-15.6% | $93.9M+489.0% | $15.9M+37.0% | $11.6M-26.9% | $15.9M-10.0% | $17.7M-10.2% | $19.7M-17.9% | $24.0M |
| 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 | $11.5M+3.7% | $11.0M-6.5% | $11.8M+7.6% | $11.0M+6.6% | $10.3M+6.2% | $9.7M+27.7% | $7.6M+53.5% | $4.9M |
| Current Liabilities | $10.5M+4.2% | $10.1M-6.8% | $10.9M+8.4% | $10.0M+7.5% | $9.3M+7.1% | $8.7M+32.3% | $6.6M+68.2% | $3.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $84.4M-10.1% | $93.8M+1034.9% | $8.3M+77.6% | $4.7M-51.5% | $9.6M-27.6% | $13.3M-24.5% | $17.6M-26.5% | $23.9M |
| Retained Earnings | -$114.5M-9.7% | -$104.5M-11.4% | -$93.8M-8.8% | -$86.2M-8.3% | -$79.6M-6.1% | -$75.0M-6.9% | -$70.2M-11.3% | -$63.1M |
IMMX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.8M+10.9% | -$11.0M-86.8% | -$5.9M-11.2% | -$5.3M-215.1% | -$1.7M-14.2% | -$1.5M+63.4% | -$4.0M+23.2% | -$5.3M |
| Capital Expenditures | $32K-80.3% | $165K-55.7% | $372K+191.8% | $128K+88.5% | $68K-86.6% | $507K+86.8% | $272K+179.7% | $97K |
| Free Cash Flow | -$9.9M+11.9% | -$11.2M-78.3% | -$6.3M-15.5% | -$5.4M-210.2% | -$1.8M+11.6% | -$2.0M+54.0% | -$4.3M+19.5% | -$5.4M |
| Investing Cash Flow | -$4.8M+27.8% | -$6.6M-1684.4% | -$372K-191.8% | -$128K-88.5% | -$68K+86.6% | -$507K-86.8% | -$272K-179.7% | -$97K |
| Financing Cash Flow | -$38K-100.0% | $95.7M+801.8% | $10.6M | N/A | N/A | $0 | $0 | $0 |
| 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 |
IMMX Financial Ratios
| 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 | -54.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -50.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -12.0% | N/A | -91.8%+50.6pp | -142.3%-95.0pp | -47.3% | N/A | -40.7%-22.3pp | -18.4% |
| Return on Assets | -10.5% | N/A | -37.8%+4.6pp | -42.4%-19.5pp | -22.8% | N/A | -28.4%-13.2pp | -15.2% |
| Current Ratio | 8.76-1.3 | 10.01+8.5 | 1.53+0.3 | 1.23-0.6 | 1.80-0.5 | 2.33-1.1 | 3.47-3.5 | 7.00 |
| Debt-to-Equity | 0.14+0.0 | 0.12-1.3 | 1.43-0.9 | 2.36+1.3 | 1.07+0.3 | 0.73+0.3 | 0.43+0.2 | 0.21 |
| FCF Margin | -49.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Immix Biopharma Inc profitable?
No, Immix Biopharma Inc (IMMX) reported a net income of -$29.4M in fiscal year 2026.
What is Immix Biopharma Inc's EBITDA?
Immix Biopharma Inc (IMMX) had EBITDA of -$29.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Immix Biopharma Inc's return on equity (ROE)?
Immix Biopharma Inc (IMMX) has a return on equity of -31.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Immix Biopharma Inc's free cash flow?
Immix Biopharma Inc (IMMX) generated -$24.7M in free cash flow during fiscal year 2026. This represents a -56.4% 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 Immix Biopharma Inc's operating cash flow?
Immix Biopharma Inc (IMMX) generated -$23.9M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Immix Biopharma Inc's total assets?
Immix Biopharma Inc (IMMX) had $104.8M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Immix Biopharma Inc's capital expenditures?
Immix Biopharma Inc (IMMX) invested $733K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Immix Biopharma Inc spend on research and development?
Immix Biopharma Inc (IMMX) invested $16.3M in research and development during fiscal year 2026.
What is Immix Biopharma Inc's current ratio?
Immix Biopharma Inc (IMMX) had a current ratio of 10.01 as of fiscal year 2026, which is generally considered healthy.
What is Immix Biopharma Inc's debt-to-equity ratio?
Immix Biopharma Inc (IMMX) had a debt-to-equity ratio of 0.12 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Immix Biopharma Inc's return on assets (ROA)?
Immix Biopharma Inc (IMMX) had a return on assets of -28.0% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Immix Biopharma Inc's cash runway?
Based on fiscal year 2026 data, Immix Biopharma Inc (IMMX) had $93.9M in cash against an annual operating cash burn of $23.9M. This gives an estimated cash runway of approximately 47 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 Immix Biopharma Inc's Piotroski F-Score?
Immix Biopharma Inc (IMMX) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 Immix Biopharma Inc's earnings high quality?
Immix Biopharma Inc (IMMX) has an earnings quality ratio of 0.81x, 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.
How financially healthy is Immix Biopharma Inc?
Immix Biopharma Inc (IMMX) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.