What is Immunovant Inc's earnings per share (EPS)?

Immunovant Inc (IMVT) reported diluted earnings per share of -$2.77 for fiscal year 2026. This represents a -1.5% 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.

Immunovant Inc Financials

IMVT

FY2026 annual

Revenue Not reported for FY2026

Net Income -$505.6M -22.2% YoY

EPS (Diluted) -$2.77 -1.5% YoY

Free Cash Flow -$407.3M -8.1% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE March

This page shows Immunovant Inc (IMVT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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 IMVT FY2026 2026-06-24

Immunovant is operating as a cash-funded R&D organization, with larger annual burn and balance-sheet capacity created mainly through new equity.

From FY2024 to FY2026, operating cash burn totaled $997M while financing inflows reached $1.52B. That funding gap more than covered the burn, letting cash rise to $902M while liabilities stayed far below cash, which means the business has been scaled through repeated capital raises rather than debt-heavy financing.

FY2026 R&D expense reached $456.7M versus $76.2M of SG&A, so the cost structure is overwhelmingly centered on research activity rather than administrative overhead. Capital intensity is near zero: capex was just $8K, and free cash flow almost matched operating cash flow, meaning the burn is coming from recurring operating decisions, not from building a large physical asset base.

Liquidity remains strong: cash of $902.1M against total liabilities of $104.4M leaves the company lightly encumbered even as losses widened. Share issuance, not borrowing, has supplied that cushion, with shares outstanding rising from 145.6M to 205.3M since FY2024, showing shareholders rather than lenders have financed expansion.

Financial Health Signals

Financial health score not available

Immunovant 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.

Piotroski F-Score Partial

2/6

Immunovant Inc passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

Immunovant Inc reported a net loss of $505.6M while operations used $407.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Net Income

-$505.6M

YoY-22.2%

Immunovant Inc reported -$505.6M in net income in fiscal year 2026. This represents a decrease of 22.2% from the prior year.

EPS (Diluted)

-$2.77

YoY-1.5%

Immunovant Inc earned -$2.77 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 1.5% from the prior year.

Revenue

Not reported for fiscal year 2026.

EBITDA

Not reported for fiscal year 2026.

Cash & Balance Sheet

Free Cash Flow

-$407.3M

YoY-8.1%

Immunovant Inc recorded an outflow of $407.3M in free cash flow in fiscal year 2026, representing a cash shortfall after capex. This represents a decrease of 8.1% from the prior year.

Cash & Debt

$902.1M

YoY+26.4%

5Y CAGR+17.7%

Immunovant Inc held $902.1M in cash as of fiscal year 2026; long-term debt is not reported for that period.

Shares Outstanding

205M

YoY+20.7%

5Y CAGR+15.9%

Immunovant Inc had 205M shares outstanding in fiscal year 2026. This represents an increase of 20.7% from the prior year.

Dividends Per Share

Not reported for fiscal year 2026.

Margins & Returns

Return on Equity

-59.3%

YoY-0.8pp

5Y CAGR-31.9pp

Immunovant Inc's ROE was -59.3% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2026.

Operating Margin

Not reported for fiscal year 2026.

Net Margin

Not reported for fiscal year 2026.

Capital Allocation

R&D Spending

$456.7M

YoY+26.5%

5Y CAGR+46.1%

Immunovant Inc invested $456.7M in research and development in fiscal year 2026. This represents an increase of 26.5% from the prior year.

Capital Expenditures

$8K

YoY-98.9%

5Y CAGR-48.0%

Immunovant Inc invested $8K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 98.9% from the prior year.

Share Buybacks

Not reported for fiscal year 2026.

IMVT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

IMVT annual income statement

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
R&D Expenses	N/A	$456.7M+26.5%	$360.9M+69.5%	$212.9M+32.9%	$160.3M+57.4%	$101.8M+48.4%	$68.6M+43.1%	$47.9M+86.2%	$25.7M
SG&A Expenses	N/A	$76.2M-1.3%	$77.2M+34.8%	$57.3M+19.3%	$48.0M-11.4%	$54.2M+37.2%	$39.5M+117.7%	$18.2M+574.3%	$2.7M
Interest Expense	N/A	N/A	N/A	$24.9M+229.2%	$7.6M	$0	$0-100.0%	$625K	N/A
Income Tax	N/A	$215K-75.9%	$891K+57.1%	$567K+6200.0%	$9K+110.7%	-$84K+76.5%	-$358K-469.1%	$97K+410.5%	$19K
Net Income	N/A	-$505.6M-22.2%	-$413.8M-59.6%	-$259.3M-22.9%	-$211.0M-34.6%	-$156.7M-45.9%	-$107.4M-61.8%	-$66.4M-132.1%	-$28.6M
EPS (Diluted)	—	-$2.77-1.5%	-$2.73-45.2%	-$1.88-9.9%	-$1.71-19.6%	-$1.43-17.2%	-$1.22	N/A	N/A

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
R&D Expenses	$142.6M	N/A	$98.9M-13.4%	$114.2M+12.9%	$101.2M	N/A	$94.5M-2.8%	$97.3M
SG&A Expenses	$17.7M	N/A	$15.4M-11.8%	$17.5M-32.7%	$26.0M	N/A	$19.8M+7.1%	$18.5M
Income Tax	$0	N/A	$1.6M+161.3%	$594K-34.9%	$913K	N/A	$152K+94.9%	$78K
Net Income	-$153.2M	N/A	-$110.6M+12.5%	-$126.5M-4.9%	-$120.6M	N/A	-$111.1M-1.8%	-$109.1M
EPS (Diluted)	-$0.75	N/A	-$0.61+16.4%	-$0.73-2.8%	-$0.71	N/A	-$0.76-2.7%	-$0.74

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Operating Income.

TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, 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.

IMVT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

IMVT annual balance sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$957.0M+23.3%	$776.2M+16.5%	$666.4M+64.2%	$405.8M-21.3%	$515.6M+25.0%	$412.5M+277.1%	$109.4M+691.1%	$13.8M
Current Assets	$948.8M+23.6%	$767.7M+15.3%	$665.8M+64.7%	$404.3M-21.2%	$512.9M+25.4%	$409.0M+275.0%	$109.1M+767.1%	$12.6M
Cash & Equivalents	$902.1M+26.4%	$714.0M+12.4%	$635.4M+68.7%	$376.5M-23.8%	$493.8M+23.4%	$400.1M+297.9%	$100.6M+1339.8%	$7.0M
Accounts Receivable	$1.1M-45.6%	$2.1M-61.0%	$5.3M+662.4%	$700K-94.3%	$12.2M+1951.8%	$596K	N/A	N/A
Total Liabilities	$104.4M+51.8%	$68.8M+41.5%	$48.6M+12.1%	$43.3M-5.2%	$45.7M+117.7%	$21.0M+37.2%	$15.3M+136.1%	$6.5M
Current Liabilities	$104.4M+51.8%	$68.8M+41.5%	$48.6M+12.3%	$43.3M-2.7%	$44.5M+137.2%	$18.8M+22.5%	$15.3M+4998.4%	$300K
Total Equity	$852.6M+20.5%	$707.4M+14.5%	$617.8M+70.4%	$362.5M-22.8%	$469.8M+20.0%	$391.5M+316.2%	$94.1M+1181.8%	$7.3M
Retained Earnings	-$1.7B-40.8%	-$1.2B-50.1%	-$825.7M-45.8%	-$566.3M-59.4%	-$355.4M-78.9%	-$198.7M-117.8%	-$91.2M-267.3%	-$24.8M

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Total Assets	$852.5M-10.9%	$957.0M-9.1%	$1.1B+80.5%	$583.0M-11.9%	$661.4M-14.8%	$776.2M+84.4%	$420.9M-18.4%	$515.7M
Current Assets	$851.2M-10.3%	$948.8M-9.0%	$1.0B+81.8%	$573.5M-12.0%	$651.8M-15.1%	$767.7M+86.1%	$412.5M-18.7%	$507.4M
Cash & Equivalents	$797.8M-11.6%	$902.1M-9.3%	$994.5M+90.6%	$521.9M-12.9%	$598.9M-16.1%	$714.0M+90.6%	$374.7M-20.8%	$472.9M
Accounts Receivable	$697K-38.5%	$1.1M-31.0%	$1.6M-16.6%	$2.0M+1.8%	$1.9M-7.1%	$2.1M-6.3%	$2.2M+18.6%	$1.9M
Total Liabilities	$117.1M+12.1%	$104.4M+57.6%	$66.3M+4.7%	$63.3M+19.6%	$52.9M-23.1%	$68.8M+0.7%	$68.3M+2.5%	$66.7M
Current Liabilities	$117.1M+12.1%	$104.4M+57.6%	$66.3M+4.7%	$63.3M+19.6%	$52.9M-23.1%	$68.8M+0.7%	$68.3M+2.5%	$66.7M
Total Equity	$735.4M-13.7%	$852.6M-13.5%	$986.1M+89.7%	$519.7M-14.6%	$608.5M-14.0%	$707.4M+100.6%	$352.6M-21.5%	$449.1M
Retained Earnings	-$1.9B-8.8%	-$1.7B-9.3%	-$1.6B-7.4%	-$1.5B-9.3%	-$1.4B-9.7%	-$1.2B-9.4%	-$1.1B-10.9%	-$1.0B

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

IMVT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

IMVT annual cash flow statement

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$414.3M	-$407.3M-8.4%	-$375.9M-75.5%	-$214.2M-13.8%	-$188.2M-77.4%	-$106.1M-27.3%	-$83.3M-56.2%	-$53.4M-86.9%	-$28.5M
Capital Expenditures	N/A	$8K-98.9%	$759K+110.8%	$360K+82.7%	$197K-22.4%	$254K+21.0%	$210K+577.4%	$31K-40.4%	$52K
Free Cash Flow	N/A	-$407.3M-8.1%	-$376.6M-75.5%	-$214.6M-13.9%	-$188.4M-77.1%	-$106.4M-27.3%	-$83.5M-56.5%	-$53.4M-86.7%	-$28.6M
Investing Cash Flow	N/A	-$8K+98.9%	-$759K-110.8%	-$360K-82.7%	-$197K+22.4%	-$254K-21.0%	-$210K-577.4%	-$31K+40.4%	-$52K
Financing Cash Flow	$612.9M	$595.8M+31.1%	$454.5M-3.8%	$472.4M+566.5%	$70.9M-64.6%	$200.1M-47.8%	$383.1M+160.7%	$147.0M+313.0%	$35.6M

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Operating Cash Flow	-$124.4M-30.9%	-$95.1M-3.0%	-$92.3M+9.9%	-$102.5M+12.7%	-$117.4M-6.1%	-$110.6M-10.2%	-$100.4M-13.2%	-$88.6M
Capital Expenditures	N/A	$8K	$0	$0	$0-100.0%	$201K+11.7%	$180K-8.2%	$196K
Free Cash Flow	N/A	-$95.1M-3.0%	-$92.3M+9.9%	-$102.5M+12.7%	-$117.4M-5.9%	-$110.8M-10.2%	-$100.6M-13.2%	-$88.8M
Investing Cash Flow	N/A	-$8K	$0	$0	$0+100.0%	-$201K-11.7%	-$180K+8.2%	-$196K
Financing Cash Flow	$20.1M+452.1%	$3.6M-99.4%	$564.6M+2195.6%	$24.6M+742.9%	$2.9M-99.4%	$450.6M+18187.8%	$2.5M+237.5%	$730K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

IMVT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

IMVT annual financial ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Return on Equity	-59.3%-0.8pp	-58.5%-16.5pp	-42.0%+16.2pp	-58.2%-24.8pp	-33.4%-5.9pp	-27.4%+43.1pp	-70.6%+319.1pp	-389.7%
Return on Assets	-52.8%+0.5pp	-53.3%-14.4pp	-38.9%+13.1pp	-52.0%-21.6pp	-30.4%-4.4pp	-26.0%+34.6pp	-60.7%+146.1pp	-206.8%
Current Ratio	9.09-2.1x	11.16-2.5x	13.70+4.4x	9.34-2.2x	11.52-10.3x	21.79+14.7x	7.12-34.7x	41.87
Debt-to-Equity	0.120.0x	0.100.0x	0.080.0x	0.120.0x	0.100.0x	0.05-0.1x	0.16-0.7x	0.88

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Return on Equity	-20.8%	N/A	-11.2%+13.1pp	-24.3%-4.5pp	-19.8%	N/A	-31.5%-7.2pp	-24.3%
Return on Assets	-18.0%	N/A	-10.5%+11.2pp	-21.7%-3.5pp	-18.2%	N/A	-26.4%-5.2pp	-21.2%
Current Ratio	7.27-1.8x	9.09-6.7x	15.74+6.7x	9.07-3.3x	12.32+1.2x	11.16+5.1x	6.04-1.6x	7.61
Debt-to-Equity	0.160.0x	0.12+0.1x	0.07-0.1x	0.120.0x	0.090.0x	0.10-0.1x	0.190.0x	0.15

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

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Where Immunovant Inc Ranks

Frequently Asked Questions

Is Immunovant Inc profitable?

No, Immunovant Inc (IMVT) reported a net income of -$505.6M in fiscal year 2026.

What is Immunovant Inc's return on equity (ROE)?

Immunovant Inc (IMVT) has a return on equity of -59.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Immunovant Inc's free cash flow?

Immunovant Inc (IMVT) recorded an outflow of $407.3M in free cash flow during fiscal year 2026. This represents a -8.1% 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 Immunovant Inc's operating cash flow?

Immunovant Inc (IMVT) recorded an outflow of $407.3M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

What are Immunovant Inc's total assets?

Immunovant Inc (IMVT) had $957.0M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Immunovant Inc's capital expenditures?

Immunovant Inc (IMVT) invested $8K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Immunovant Inc spend on research and development?

Immunovant Inc (IMVT) invested $456.7M in research and development during fiscal year 2026.

How many shares does Immunovant Inc have outstanding?

Immunovant Inc (IMVT) had 205M shares outstanding as of fiscal year 2026.

What is Immunovant Inc's current ratio?

Immunovant Inc (IMVT) had a current ratio of 9.09 as of fiscal year 2026, which is generally considered healthy.

What is Immunovant Inc's debt-to-equity ratio?

Immunovant Inc (IMVT) 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 Immunovant Inc's return on assets (ROA)?

Immunovant Inc (IMVT) had a return on assets of -52.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Immunovant Inc's cash runway?

Based on fiscal year 2026 data, Immunovant Inc (IMVT) had $902.1M in cash against an annual operating cash burn of $407.3M. This gives an estimated cash runway of approximately 27 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 Immunovant Inc's Piotroski F-Score?

Immunovant Inc (IMVT) 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 Immunovant Inc's earnings high quality?

Immunovant Inc (IMVT) reported a net loss of $505.6M while operations used $407.3M 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.