Immuneering Corp Financials
Financial Health Signals
Immuneering Corp passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Immuneering Corp generates $0.90 in operating cash flow (-$55.0M OCF vs -$61.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Immuneering Corp (IMRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Key Financial Metrics
Immuneering Corp's EBITDA was -$63.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.7% from the prior year.
Immuneering Corp generated -$55.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 11.7% from the prior year.
Immuneering Corp reported -$61.0M in net income in fiscal year 2024. This represents a decrease of 14.1% from the prior year.
Immuneering Corp earned $-2.04 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 8.5% from the prior year.
Immuneering Corp held $36.1M in cash against $0 in long-term debt as of fiscal year 2024.
Immuneering Corp invested $48.0M in research and development in fiscal year 2024. This represents an increase of 15.2% from the prior year.
Immuneering Corp invested $85K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 75.2% from the prior year.
IMRX Income Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $455-98.8% | $38K |
| Cost of Revenue | N/A | N/A | $0 | $0 | $0 | $0 | $0-100.0% | $19K |
| Gross Profit | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $455-97.6% | $19K |
| R&D Expenses | $10.9M-3.4% | $11.3M-5.5% | $11.9M+18.5% | $10.1M+6.3% | $9.5M-7.4% | $10.2M+3.5% | $9.9M+5.3% | $9.4M |
| SG&A Expenses | $4.5M+12.3% | $4.0M-8.5% | $4.4M+13.3% | $3.9M-4.4% | $4.0M-9.3% | $4.5M+8.4% | $4.1M+7.3% | $3.8M |
| Operating Income | -$15.4M-0.7% | -$15.3M+6.3% | -$16.3M-17.1% | -$13.9M-3.1% | -$13.5M+8.0% | -$14.7M-5.0% | -$14.0M-6.0% | -$13.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$15.0M-2.5% | -$14.6M+3.2% | -$15.1M-19.8% | -$12.6M-3.3% | -$12.2M+10.4% | -$13.6M-2.7% | -$13.2M-3.1% | -$12.8M |
| EPS (Diluted) | $-0.38+22.4% | $-0.49+3.9% | $-0.51-18.6% | $-0.430.0% | $-0.43+15.7% | $-0.51-4.1% | $-0.490.0% | $-0.49 |
IMRX Balance Sheet
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $241.1M+357.3% | $52.7M-48.6% | $102.6M-9.9% | $113.9M-8.8% | $124.9M+16.0% | $107.7M-12.0% | $122.4M-8.5% | $133.7M |
| Current Assets | $229.1M+478.7% | $39.6M-55.6% | $89.1M-11.4% | $100.6M-9.8% | $111.5M+18.3% | $94.2M-13.3% | $108.7M-9.4% | $120.0M |
| Cash & Equivalents | $227.6M+529.6% | $36.1M-39.2% | $59.4M-12.7% | $68.0M-34.6% | $104.0M+34.3% | $77.4M+6.6% | $72.6M-4.9% | $76.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | $0 | $0 | $0-100.0% | $1K-91.6% | $12K-82.3% | $70K |
| Goodwill | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M |
| Total Liabilities | $13.1M+15.5% | $11.3M-5.7% | $12.0M+21.7% | $9.9M+0.7% | $9.8M-1.2% | $9.9M-20.9% | $12.5M+6.1% | $11.8M |
| Current Liabilities | $9.5M+27.2% | $7.5M-4.4% | $7.8M+39.5% | $5.6M+2.6% | $5.5M-0.8% | $5.5M-31.4% | $8.1M+11.0% | $7.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $228.0M+450.9% | $41.4M-54.3% | $90.6M-12.9% | $104.0M-9.6% | $115.1M+17.7% | $97.8M-11.0% | $109.9M-9.9% | $121.9M |
| Retained Earnings | -$268.7M-19.8% | -$224.3M-37.4% | -$163.3M-10.2% | -$148.2M-9.3% | -$135.6M-9.9% | -$123.4M-12.4% | -$109.8M-13.7% | -$96.5M |
IMRX Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.0M+17.5% | -$14.5M-23.2% | -$11.8M+2.1% | -$12.0M-11.9% | -$10.7M+25.5% | -$14.4M-22.7% | -$11.7M-10.6% | -$10.6M |
| Capital Expenditures | $7K-22.5% | $9K-94.5% | $171K+199.1% | $57K-34.1% | $87K+209.7% | $28K-59.6% | $69K-82.4% | $393K |
| Free Cash Flow | -$12.0M+17.5% | -$14.5M-21.5% | -$11.9M+1.1% | -$12.1M-11.5% | -$10.8M+25.0% | -$14.4M-22.2% | -$11.8M-7.3% | -$11.0M |
| Investing Cash Flow | -$7K-100.1% | $5.5M+75.3% | $3.1M+113.1% | -$24.0M-361.6% | $9.2M-51.7% | $19.0M+132.7% | $8.2M+1026.3% | -$880K |
| Financing Cash Flow | $213.2M+520232.9% | -$41K-623.1% | $8K-63.5% | $21K-99.9% | $28.2M+11667.5% | $239K+229.6% | -$185K-972.8% | -$17K |
| 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 |
IMRX Financial Ratios
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | 100.0%+50.4pp | 49.6% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | -3073627.9%-3039265.9pp | -34362.0% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | -2911112.3%-2877646.1pp | -33466.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -6.2%+15.1pp | -21.3%-6.6pp | -14.7%-3.6pp | -11.1%-1.3pp | -9.8%+2.9pp | -12.6%-1.8pp | -10.8%-1.2pp | -9.6% |
| Current Ratio | 24.00+18.7 | 5.28-6.1 | 11.35-6.5 | 17.89-2.5 | 20.35+3.3 | 17.05+3.6 | 13.50-3.0 | 16.54 |
| Debt-to-Equity | 0.06-0.2 | 0.27+0.1 | 0.13+0.0 | 0.090.0 | 0.09-0.0 | 0.10-0.0 | 0.11+0.0 | 0.10 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -2597344.2%-2568643.1pp | -28701.1% |
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Frequently Asked Questions
Is Immuneering Corp profitable?
No, Immuneering Corp (IMRX) reported a net income of -$61.0M in fiscal year 2024.
What is Immuneering Corp's earnings per share (EPS)?
Immuneering Corp (IMRX) reported diluted earnings per share of $-2.04 for fiscal year 2024. This represents a -8.5% 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.
What is Immuneering Corp's EBITDA?
Immuneering Corp (IMRX) had EBITDA of -$63.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Immuneering Corp's free cash flow?
Immuneering Corp (IMRX) generated -$55.1M in free cash flow during fiscal year 2024. This represents a -11.7% 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 Immuneering Corp's operating cash flow?
Immuneering Corp (IMRX) generated -$55.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Immuneering Corp's total assets?
Immuneering Corp (IMRX) had $52.7M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Immuneering Corp's capital expenditures?
Immuneering Corp (IMRX) invested $85K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Immuneering Corp spend on research and development?
Immuneering Corp (IMRX) invested $48.0M in research and development during fiscal year 2024.
What is Immuneering Corp's current ratio?
Immuneering Corp (IMRX) had a current ratio of 5.28 as of fiscal year 2024, which is generally considered healthy.
What is Immuneering Corp's debt-to-equity ratio?
Immuneering Corp (IMRX) had a debt-to-equity ratio of 0.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Immuneering Corp's return on assets (ROA)?
Immuneering Corp (IMRX) had a return on assets of -115.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Immuneering Corp's cash runway?
Based on fiscal year 2024 data, Immuneering Corp (IMRX) had $36.1M in cash against an annual operating cash burn of $55.0M. This gives an estimated cash runway of approximately 8 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 Immuneering Corp's Piotroski F-Score?
Immuneering Corp (IMRX) has a Piotroski F-Score of 1 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Immuneering Corp's earnings high quality?
Immuneering Corp (IMRX) has an earnings quality ratio of 0.90x, 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.