Immunic Inc Financials
This page shows Immunic Inc (IMUX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Immunic’s business mechanic is a cash-funded R&D engine, with fresh financing repeatedly covering operating use as liquidity narrows.
Across the recent period, cash on hand fell from$46.7M to$15.5M even though the income statement and cash flow statement kept telling the same story: losses were largely cash, not accounting noise. With a current ratio of 0.7x and financing inflow of$65.6M , outside capital is functioning more like operating fuel than like surplus liquidity, and equity has now turned negative.
Spending is concentrated in research: R&D ran at
Capital intensity is low, but cash intensity is high: capital spending was only
Financial Health Signals
Immunic Inc 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.
Immunic Inc 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, 1 of 2 leverage/liquidity signals pass.
Immunic Inc reported a net loss of $97.2M while operations used $85.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Immunic Inc's EBITDA was -$103.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.3% from the prior year.
Immunic Inc reported -$97.2M in net income in fiscal year 2025. This represents an increase of 3.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Immunic Inc recorded an outflow of $86.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 1.1% from the prior year.
Immunic Inc held $15.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Immunic Inc paid $0.00 per share in dividends in fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Immunic Inc invested $82.0M in research and development in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Immunic Inc invested $161K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 39.0% from the prior year.
Not reported for fiscal year 2025.
IMUX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $82.0M+2.4% | $80.0M-3.8% | $83.2M+16.8% | $71.3M+16.6% | $61.1M+58.2% | $38.6M+71.6% | $22.5M+134.6% | $9.6M-75.6% | $39.3M+30.9% | $30.0M-24.5% | $39.8M+0.7% | $39.5M+81.2% | $21.8M+327.4% | $5.1M |
| SG&A Expenses | N/A | $21.2M+18.0% | $18.0M+12.5% | $16.0M+4.9% | $15.3M+14.8% | $13.3M+28.7% | $10.3M-28.8% | $14.5M+504.5% | $2.4M-82.0% | $13.3M+18.7% | $11.2M-9.1% | $12.3M+13.7% | $10.9M+13.0% | $9.6M+114.5% | $4.5M |
| Operating Income | N/A | -$103.2M-5.3% | -$98.1M+1.2% | -$99.2M+17.0% | -$119.5M-30.4% | -$91.7M-87.2% | -$49.0M-32.2% | -$37.0M-208.7% | -$12.0M+77.2% | -$52.7M-27.6% | -$41.3M+20.8% | -$52.1M-3.5% | -$50.3M-60.3% | -$31.4M-227.8% | -$9.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $413K |
| Income Tax | N/A | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$97.2M+3.3% | -$100.5M-7.4% | -$93.6M+22.3% | -$120.4M-29.5% | -$92.9M-111.2% | -$44.0M-26.0% | -$34.9M-202.7% | -$11.5M+77.8% | -$52.1M-27.1% | -$41.0M+21.2% | -$52.0M-9.1% | -$47.7M-45.7% | -$32.7M-388.3% | -$6.7M |
| EPS (Diluted) | — | -$0.62 | -$1.00 | -$2.11+44.2% | -$3.78+3.8% | -$3.93 | -$2.81 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
IMUX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.1M-41.1% | $40.9M-24.7% | $54.3M-57.5% | $127.8M-8.2% | $139.1M-17.1% | $167.9M+154.5% | $66.0M+393.3% | $13.4M-77.9% | $60.4M-5.7% | $64.0M-28.1% | $89.1M-17.6% | $108.1M+132.0% | $46.6M | N/A |
| Current Assets | $22.9M-41.9% | $39.3M-25.1% | $52.5M-58.3% | $125.9M+19.9% | $105.0M-21.5% | $133.7M+315.0% | $32.2M+141.8% | $13.3M-77.1% | $58.1M-5.4% | $61.5M-27.8% | $85.1M-18.8% | $104.8M+139.0% | $43.9M | N/A |
| Cash & Equivalents | $15.5M-56.6% | $35.7M-23.6% | $46.7M-56.3% | $106.7M+22.9% | $86.9M-31.8% | $127.5M+334.0% | $29.4M+124.7% | $13.1M-77.0% | $56.9M-5.2% | $60.0M-28.1% | $83.4M-18.4% | $102.2M+167.7% | $38.2M+752.9% | $4.5M |
| Goodwill | N/A | N/A | N/A | $0-100.0% | $33.0M0.0% | $33.0M0.0% | $33.0M | $0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $30.7M+36.9% | $22.4M-11.5% | $25.4M+80.3% | $14.1M+17.4% | $12.0M+32.1% | $9.1M+19.5% | $7.6M-80.6% | $39.1M-46.9% | $73.7M+1221.2% | $5.6M-17.4% | $6.8M-35.8% | $10.5M-88.5% | $91.2M | N/A |
| Current Liabilities | $30.6M+38.1% | $22.2M-10.3% | $24.7M+89.1% | $13.1M+14.7% | $11.4M+35.8% | $8.4M+18.7% | $7.1M+268.3% | $1.9M-81.3% | $10.3M+87.6% | $5.5M-17.7% | $6.7M-35.3% | $10.3M+38.0% | $7.4M | N/A |
| Total Equity | -$6.7M-136.2% | $18.4M-36.3% | $28.9M-74.6% | $113.7M-10.6% | $127.1M-19.9% | $158.8M+172.1% | $58.4M+326.7% | -$25.7M-93.0% | -$13.3M-122.8% | $58.4M-29.0% | $82.3M-15.6% | $97.6M+318.5% | -$44.7M-485.1% | -$7.6M |
| Retained Earnings | -$608.6M-19.0% | -$511.4M-24.5% | -$410.9M-29.5% | -$317.3M-61.2% | -$196.9M-89.4% | -$103.9M-73.5% | -$59.9M-139.9% | -$25.0M+91.6% | -$296.0M-21.4% | -$243.8M-20.2% | -$202.9M-34.5% | -$150.8M-46.2% | -$103.2M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
IMUX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$87.7M | -$85.8M-1.2% | -$84.8M-19.7% | -$70.8M-8.7% | -$65.1M+21.7% | -$83.2M-80.5% | -$46.1M-61.6% | -$28.5M-193.1% | -$9.7M+75.9% | -$40.4M-12.9% | -$35.8M+28.4% | -$50.0M-22.4% | -$40.8M-42.5% | -$28.6M-209.9% | -$9.2M |
| Capital Expenditures | $329K | $161K-39.0% | $264K-21.0% | $334K+198.2% | $112K+67.2% | $67K-54.1% | $146K+165.5% | $55K+71.9% | $32K-95.3% | $685K+23.2% | $556K-76.2% | $2.3M+66.1% | $1.4M-5.1% | $1.5M+468.6% | $261K |
| Free Cash Flow | -$88.0M | -$86.0M-1.1% | -$85.0M-19.5% | -$71.2M-9.1% | -$65.3M+21.7% | -$83.3M-80.0% | -$46.3M-61.8% | -$28.6M-192.7% | -$9.8M+76.2% | -$41.1M-13.1% | -$36.3M+30.5% | -$52.3M-23.8% | -$42.2M-40.2% | -$30.1M-217.0% | -$9.5M |
| Investing Cash Flow | -$329K | -$161K+39.0% | -$264K-102.8% | $9.5M+197.1% | -$9.7M-14438.8% | -$67K+54.1% | -$146K-101.4% | $10.5M+33025.0% | -$32K+95.3% | -$678K-3128.6% | -$21K | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $188.8M | $65.6M-12.0% | $74.5M+7116.0% | $1.0M-98.9% | $95.8M+123.5% | $42.8M-70.3% | $144.4M+313.9% | $34.9M+81.2% | $19.3M-49.3% | $38.0M+207.0% | $12.4M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
IMUX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | -545.4%-221.8pp | -323.6%-217.7pp | -105.9%-32.8pp | -73.1%-45.4pp | -27.7%+32.1pp | -59.9% | N/A | N/A | -70.1%-6.9pp | -63.2%-14.3pp | -48.9% | N/A | N/A |
| Return on Assets | -404.0%-158.1pp | -245.9%-73.5pp | -172.4%-78.1pp | -94.3%-27.4pp | -66.8%-40.6pp | -26.2%+26.7pp | -53.0%+33.4pp | -86.3%-0.1pp | -86.2%-22.3pp | -64.0%-5.6pp | -58.4%-14.3pp | -44.1%+26.1pp | -70.2% | N/A |
| Current Ratio | 0.75-1.0x | 1.77-0.4x | 2.12-7.5x | 9.62+0.4x | 9.21-6.7x | 15.93+11.4x | 4.56-2.4x | 6.94+1.3x | 5.65-5.6x | 11.22-1.6x | 12.79+2.6x | 10.20+4.3x | 5.89 | N/A |
| Debt-to-Equity | N/A | 1.22+0.3x | 0.88+0.8x | 0.120.0x | 0.090.0x | 0.06-0.1x | 0.13 | N/A | N/A | 0.100.0x | 0.080.0x | 0.11 | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$6.7M), 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.
Note: The current ratio is below 1.0 (0.75), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Immunic Inc Ranks
Frequently Asked Questions
Is Immunic Inc profitable?
No, Immunic Inc (IMUX) reported a net income of -$97.2M in fiscal year 2025.
What is Immunic Inc's EBITDA?
Immunic Inc (IMUX) had EBITDA of -$103.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Immunic Inc's free cash flow?
Immunic Inc (IMUX) recorded an outflow of $86.0M in free cash flow during fiscal year 2025. This represents a -1.1% 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 Immunic Inc's operating cash flow?
Immunic Inc (IMUX) recorded an outflow of $85.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Immunic Inc's total assets?
Immunic Inc (IMUX) had $24.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Immunic Inc's capital expenditures?
Immunic Inc (IMUX) invested $161K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Immunic Inc spend on research and development?
Immunic Inc (IMUX) invested $82.0M in research and development during fiscal year 2025.
What is Immunic Inc's current ratio?
Immunic Inc (IMUX) had a current ratio of 0.75 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Immunic Inc's return on assets (ROA)?
Immunic Inc (IMUX) had a return on assets of -404.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Immunic Inc's cash runway?
Based on fiscal year 2025 data, Immunic Inc (IMUX) had $15.5M in cash against an annual operating cash burn of $85.8M. This gives an estimated cash runway of approximately 2 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.
Why is Immunic Inc's debt-to-equity ratio negative or not reported?
Immunic Inc (IMUX) has negative shareholder equity of -$6.7M 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 Immunic Inc's Piotroski F-Score?
Immunic Inc (IMUX) 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 Immunic Inc's earnings high quality?
Immunic Inc (IMUX) reported a net loss of $97.2M while operations used $85.8M 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.