Immuneering Corp (IMRX) 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 Sep 11, 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 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IMRX SEC filings page.
This page shows Immuneering Corp (IMRX) 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).
Development-stage economics remain dominant: recurring R&D losses are funded externally rather than by operating receipts.
R&D declined from$48.0M in FY2024 to$42.0M in FY2025, and the narrower loss coincided with that spending pullback. That makes the visible earnings improvement a cost-mix effect, not evidence of revenue traction, because revenue is not reported for either period.
2025 operating cash flow of
A large financing inflow of
Financial Health Signals
Immuneering Corp does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Immuneering Corp passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.
Immuneering Corp reported a net loss of $56.0M while operations used $45.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Immuneering Corp's EBITDA was -$18.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.9% from the same quarter a year earlier. Against the prior quarter it is down 24.0%.
Immuneering Corp reported -$17.3M in net income in Q2 2026. This represents a decrease of 19.7% from the same quarter a year earlier. Against the prior quarter it is down 28.3%.
Immuneering Corp earned -$0.27 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 28.6%.
Not reported for Q2 2026.
Cash & Balance Sheet
Immuneering Corp recorded an outflow of $16.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 74.9% from the same quarter a year earlier. Against the prior quarter it is up 10.7%.
Immuneering Corp held $41.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Immuneering Corp's ROE was -9.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 40.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Immuneering Corp invested $14.0M in research and development in Q2 2026. This represents an increase of 33.9% from the same quarter a year earlier. Against the prior quarter it is up 31.5%.
Immuneering Corp invested $27K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 1193.3% from the same quarter a year earlier. Against the prior quarter it is down 65.8%.
Not reported for Q2 2026.
IMRX 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 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $14.0M+33.9% | $10.6M-7.2% | N/A | $10.9M-3.4% | $10.5M-1.9% | $11.5M+2.4% | N/A | $11.3M+12.0% |
| SG&A Expenses | $5.0M+16.3% | $4.7M+16.9% | N/A | $4.5M+12.3% | $4.3M+1.0% | $4.0M-2.7% | N/A | $4.0M+3.7% |
| Operating Income | -$19.0M-28.7% | -$15.3M+1.0% | N/A | -$15.4M-0.7% | -$14.8M+1.0% | -$15.5M-1.0% | N/A | -$15.3M-9.7% |
| EBITDA | -$18.9M-28.9% | -$15.3M+0.9% | N/A | -$15.3M-0.8% | -$14.7M+1.0% | -$15.4M-1.1% | N/A | -$15.2M-9.7% |
| Net Income | -$17.3M-19.7% | -$13.5M+10.5% | N/A | -$15.0M-2.5% | -$14.4M-2.5% | -$15.0M-5.2% | N/A | -$14.6M-15.9% |
| EPS (Basic) | -$0.27+32.5% | -$0.21+50.0% | -$0.07+88.1% | -$0.38+22.4% | -$0.40+14.9% | -$0.42+14.3% | -$0.59-13.5% | -$0.49-14.0% |
| EPS (Diluted) | -$0.27 | -$0.21 | -$0.07+88.1% | -$0.38+22.4% | -$0.40+14.9% | -$0.42+14.3% | -$0.59-13.5% | -$0.49-14.0% |
| Diluted Shares (Avg) | 65M | 65M | N/A | 40M+32.9% | 36M+21.4% | 36M+21.0% | N/A | 30M+2.0% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
IMRX 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 | $202.1M+404.4% | $214.8M+323.8% | $232.0M+340.1% | $241.1M+251.6% | $40.1M-48.0% | $50.7M-42.4% | $52.7M-48.6% | $68.6M-39.8% |
| Current Assets | $158.0M+469.8% | $161.4M+322.5% | $176.2M+345.2% | $229.1M+314.6% | $27.7M-56.5% | $38.2M-48.7% | $39.6M-55.6% | $55.3M-45.1% |
| Cash & Equivalents | $41.3M+56.8% | $47.3M+31.9% | $128.6M+255.9% | $227.6M+403.4% | $26.4M-55.9% | $35.9M-45.9% | $36.1M-39.2% | $45.2M-33.6% |
| Short-Term Investments | $108.6M | $109.4M | $44.2M | $0-100.0% | $0 | $0-100.0% | $0-100.0% | $5.5M-81.3% |
| Long-Term Investments | $32.8M | $42.0M | $44.2M | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% | $6.7M0.0% |
| Total Liabilities | $11.3M+1.8% | $8.3M-6.2% | $13.5M+19.2% | $13.1M+20.7% | $11.1M+3.1% | $8.8M-4.6% | $11.3M-5.7% | $10.8M+9.9% |
| Current Liabilities | $8.1M+8.4% | $5.0M-2.6% | $10.1M+34.2% | $9.5M+37.9% | $7.5M+10.4% | $5.1M-1.3% | $7.5M-4.4% | $6.9M+23.1% |
| Non-Current Liabilities | $3.2M-11.8% | $3.3M-11.1% | $3.4M-10.4% | $3.5M-9.7% | $3.6M-9.2% | $3.7M-8.6% | $3.8M-8.1% | $3.9M-7.7% |
| Total Equity | $190.7M+559.2% | $206.5M+393.6% | $218.5M+427.9% | $228.0M+295.0% | $28.9M-56.4% | $41.8M-46.8% | $41.4M-54.3% | $57.7M-44.5% |
| Retained Earnings | -$311.1M-22.6% | -$293.8M-22.7% | -$280.3M-25.0% | -$268.7M-30.3% | -$253.8M-32.4% | -$239.3M-34.8% | -$224.3M-37.4% | -$206.2M-39.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
IMRX 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 | -$16.5M-74.7% | -$18.4M-30.9% | -$9.8M+32.2% | -$12.0M+11.1% | -$9.4M+18.0% | -$14.1M+9.1% | -$14.5M-23.2% | -$13.5M-12.0% |
| Depreciation & Amortization | $84K-0.1% | $81K-4.5% | $76K-11.9% | $79K-11.4% | $85K-6.6% | $85K-5.5% | $86K-4.1% | $89K+13.6% |
| Stock-Based Compensation | $1.6M+6.8% | $1.6M-3.3% | N/A | $1.5M-11.2% | $1.5M-8.2% | $1.7M+14.7% | N/A | $1.6M+10.9% |
| Capital Expenditures | $27K+1193.3% | $80K+793.6% | $124K+1224.4% | $7K+37.7% | $2K-93.5% | $9K-76.1% | $9K-94.5% | $5K-90.8% |
| Free Cash Flow | -$16.5M-74.9% | -$18.5M-31.4% | -$10.0M+31.4% | -$12.0M+11.1% | -$9.4M+18.3% | -$14.1M+9.3% | -$14.5M-21.5% | -$13.5M-11.5% |
| Investing Cash Flow | $10.5M+495369.4% | -$63.1M-704995.3% | -$88.7M-1715.8% | -$7K+99.9% | -$2K-100.0% | -$9K-100.0% | $5.5M+75.3% | -$5.4M+77.4% |
| Financing Cash Flow | $25K+139.7% | $181K-98.7% | -$358K-772.3% | $213.2M+4784.6% | -$62K | $13.8M+1309.4% | -$41K-623.1% | $4.4M+20249.6% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IMRX 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 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -9.0%+40.8pp | -6.5%+29.4pp | N/A | -6.6%+18.7pp | -49.9%-28.7pp | -36.0%-17.8pp | N/A | -25.3%-13.2pp |
| Return on Assets | -8.6%+27.5pp | -6.3%+23.4pp | N/A | -6.2%+15.1pp | -36.0%-17.8pp | -29.7%-13.4pp | N/A | -21.3%-10.2pp |
| Current Ratio | 19.47+15.8x | 32.45+25.0x | 17.50+12.2x | 24.00+16.0x | 3.70-5.7x | 7.48-6.9x | 5.28-6.1x | 7.99-9.9x |
| Debt-to-Equity | 0.06-0.3x | 0.04-0.2x | 0.06-0.2x | 0.06-0.1x | 0.38+0.2x | 0.21+0.1x | 0.27+0.1x | 0.19+0.1x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Immuneering Corp IMRX | FY2025 | N/A | -$56.0M | N/A | $276.3M | — |
| Rocket Pharmaceu RCKT | FY2025 | $0 | -$223.1M | N/A | $382.0M | — |
| Tectonic Therapeutic Inc TECX | FY2025 | N/A | N/A | N/A | $559.3M | — |
| Fulcrum Therapeutics FULC | FY2025 | $0 | -$74.9M | N/A | $289.9M | — |
| Larimar Therapeutics Inc LRMR | FY2025 | N/A | -$165.7M | N/A | $399.9M | — |
| Assembly Bioscie ASMB | FY2025 | $72.3M | -$6.1M | -8.5% | $620.2M | 61/100 |
Where Immuneering Corp Ranks
Frequently Asked Questions
Is Immuneering Corp profitable?
No, Immuneering Corp (IMRX) reported a net income of -$56.0M in fiscal year 2025.
What is Immuneering Corp's EBITDA?
Immuneering Corp (IMRX) had EBITDA of -$59.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Immuneering Corp's return on equity (ROE)?
Immuneering Corp (IMRX) has a return on equity of -25.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Immuneering Corp's free cash flow?
Immuneering Corp (IMRX) recorded an outflow of $45.5M in free cash flow during fiscal year 2025. This represents a 17.4% 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 Immuneering Corp's operating cash flow?
Immuneering Corp (IMRX) recorded an outflow of $45.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Immuneering Corp's total assets?
Immuneering Corp (IMRX) had $232.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Immuneering Corp's capital expenditures?
Immuneering Corp (IMRX) invested $142K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Immuneering Corp spend on research and development?
Immuneering Corp (IMRX) invested $42.0M in research and development during fiscal year 2025.
What is Immuneering Corp's current ratio?
Immuneering Corp (IMRX) had a current ratio of 17.50 as of fiscal year 2025, which is generally considered healthy.
What is Immuneering Corp's debt-to-equity ratio?
Immuneering Corp (IMRX) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, 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 -24.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Immuneering Corp's P/E ratio?
Immuneering Corp (IMRX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $276.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Immuneering Corp's price-to-sales ratio?
Immuneering Corp (IMRX) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $276.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Immuneering Corp's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Immuneering Corp (IMRX) held $217.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $45.3M over that year. Dividing the one by the other, the reported balance equals about 57 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.
What is Immuneering Corp's Piotroski F-Score?
Immuneering Corp (IMRX) has a Piotroski F-Score of 3 out of 5 computable signals; 4 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 Immuneering Corp's earnings high quality?
Immuneering Corp (IMRX) reported a net loss of $56.0M while operations used $45.3M 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.