What is In8Bio, Inc.'s earnings per share (EPS)?

In8Bio, Inc. (INAB) reported diluted earnings per share of $-4.44 for fiscal year 2025. 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.

In8Bio, Inc. Financials

INAB

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows In8Bio, Inc. (INAB) 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).

Rhea AI INAB FY2025 2026-05-07

IN8bio remains an externally financed development company, but FY2025 shows a meaningful reset in cash burn.

From FY2024 to FY2025, operating cash burn improved from $24.1M to $12.7M while financing inflow reached $28.6M, so the rise in cash to $27.3M came from new capital arriving faster than the business consumed it, not from self-funding operations. The quality angle is favorable but narrow: FY2025 net loss was $19.4M, still deeper than cash burn, which implies part of the reported loss was non-cash rather than hidden by unusually strong working-capital timing.

The cost reset came from both labs and overhead: R&D fell from $17.0M to $10.2M and SG&A from $12.6M to $9.7M in FY2025. That pattern says the narrower loss was driven by deliberate spending restraint inside the program base, not just by accounting noise.

The balance sheet is liquid and lightly encumbered: cash of $27.3M was about 8.6x current liabilities of $3.2M, while total liabilities were only $4.7M. With no long-term debt reported, near-term pressure comes less from lenders and more from how long equity funding can keep covering research spend.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 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 In8Bio, 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.

Leverage

In8Bio, Inc. carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 8.82, In8Bio, Inc. holds $8.82 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

In8Bio, Inc. generates a -70.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -210.2% the prior year.

Piotroski F-Score Weak

3/9

In8Bio, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.65x

For every $1 of reported earnings, In8Bio, Inc. generates $0.65 in operating cash flow (-$12.7M OCF vs -$19.4M 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

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Earnings & Revenue

Revenue

N/A

EBITDA

-$17.7M

YoY+38.2%

In8Bio, Inc.'s EBITDA was -$17.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38.2% from the prior year.

Net Income

-$19.4M

YoY+36.1%

In8Bio, Inc. reported -$19.4M in net income in fiscal year 2025. This represents an increase of 36.1% from the prior year.

EPS (Diluted)

$-4.44

In8Bio, Inc. earned $-4.44 per diluted share (EPS) in fiscal year 2025. This represents an increase of 74.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$27.3M

YoY+139.9%

5Y CAGR+8.5%

In8Bio, Inc. held $27.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

10M

In8Bio, Inc. had 10M shares outstanding in fiscal year 2025. This represents an increase of 304.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-70.5%

YoY+139.7pp

In8Bio, Inc.'s ROE was -70.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 139.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$10.2M

YoY-39.8%

5Y CAGR+13.7%

In8Bio, Inc. invested $10.2M in research and development in fiscal year 2025. This represents a decrease of 39.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

INAB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$10.2M-39.8%	$17.0M+0.8%	$16.8M+19.7%	$14.1M+91.4%	$7.3M+36.6%	$5.4M
SG&A Expenses	$9.7M-23.6%	$12.6M-6.5%	$13.5M-6.6%	$14.5M+97.9%	$7.3M+129.8%	$3.2M
Operating Income	-$19.4M+36.1%	-$30.4M-1.4%	-$30.0M-5.2%	-$28.5M-94.6%	-$14.7M-71.2%	-$8.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$19.4M+36.1%	-$30.4M-1.4%	-$30.0M-5.2%	-$28.5M-94.6%	-$14.7M-71.2%	-$8.6M
EPS (Diluted)	$-4.44	$-17.05	$-1.00+26.5%	$-1.36+7.5%	$-1.47	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	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	$2.6M	N/A	$2.1M-15.4%	$2.5M-16.3%	$3.0M	N/A	$3.3M-35.8%	$5.2M
SG&A Expenses	$2.7M	N/A	$1.9M-31.4%	$2.7M+1.0%	$2.7M	N/A	$2.7M-22.7%	$3.5M
Operating Income	-$5.1M	N/A	-$3.9M+24.3%	-$5.1M+8.2%	-$5.5M	N/A	-$7.1M+17.9%	-$8.6M
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	-$5.1M	N/A	-$3.9M+24.3%	-$5.1M+8.2%	-$5.5M	N/A	-$7.1M+17.9%	-$8.6M
EPS (Diluted)	$-0.26	N/A	$-0.85+31.5%	$-1.24	$-2.16	N/A	$-4.49+18.5%	$-5.51

INAB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$32.3M+54.1%	$20.9M-37.9%	$33.7M+2.0%	$33.0M-21.8%	$42.2M+101.9%	$20.9M
Current Assets	$27.9M+121.7%	$12.6M-48.9%	$24.6M+10.8%	$22.2M-43.0%	$39.0M+114.8%	$18.1M
Cash & Equivalents	$27.3M+139.9%	$11.4M-47.1%	$21.5M+16.8%	$18.4M-50.5%	$37.3M+105.5%	$18.1M
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.7M-26.9%	$6.5M-26.3%	$8.8M-14.9%	$10.3M-87.2%	$80.4M+114.5%	$37.5M
Current Liabilities	$3.2M+2.5%	$3.1M-42.8%	$5.4M-7.4%	$5.8M+158.1%	$2.3M-12.3%	$2.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$27.6M+90.3%	$14.5M-41.9%	$24.9M+9.7%	$22.7M+159.5%	-$38.2M-130.3%	-$16.6M
Retained Earnings	-$141.1M-16.0%	-$121.7M-33.4%	-$91.2M-49.0%	-$61.2M-87.2%	-$32.7M-81.2%	-$18.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$26.3M-18.6%	$32.3M+92.5%	$16.8M-13.4%	$19.4M-2.5%	$19.9M-5.1%	$20.9M+31.2%	$16.0M-29.0%	$22.5M
Current Assets	$22.7M-18.7%	$27.9M+136.9%	$11.8M-14.4%	$13.7M+8.0%	$12.7M+1.2%	$12.6M+87.6%	$6.7M-47.1%	$12.7M
Cash & Equivalents	$22.2M-18.9%	$27.3M+149.2%	$11.0M-18.8%	$13.5M+11.0%	$12.2M+6.8%	$11.4M+167.3%	$4.3M-59.3%	$10.5M
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	$3.5M-26.2%	$4.7M+32.0%	$3.6M-13.4%	$4.1M-31.0%	$6.0M-7.3%	$6.5M-12.4%	$7.4M-16.9%	$8.9M
Current Liabilities	$2.2M-31.7%	$3.2M+85.6%	$1.7M-12.8%	$2.0M-33.9%	$3.0M-4.1%	$3.1M-15.2%	$3.6M-23.6%	$4.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.8M-17.3%	$27.6M+108.9%	$13.2M-13.5%	$15.2M+9.8%	$13.9M-4.2%	$14.5M+68.6%	$8.6M-37.0%	$13.6M
Retained Earnings	-$146.2M-3.6%	-$141.1M-3.6%	-$136.2M-2.9%	-$132.3M-4.0%	-$127.2M-4.6%	-$121.7M-5.3%	-$115.5M-6.5%	-$108.4M

INAB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$12.7M+47.4%	-$24.1M-3.5%	-$23.3M+3.2%	-$24.1M-78.6%	-$13.5M-89.4%	-$7.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$0+100.0%	-$187K+68.8%	-$600K+83.8%	-$3.7M-1099.0%	-$309K	$0
Financing Cash Flow	$28.6M+101.9%	$14.2M-47.6%	$27.0M+200.9%	$9.0M-72.7%	$33.0M+34.4%	$24.5M
Dividends Paid	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

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$4.9M-131.3%	-$2.1M+39.3%	-$3.5M+10.3%	-$3.9M-25.8%	-$3.1M+22.5%	-$4.0M+34.1%	-$6.1M-0.3%	-$6.1M
Capital Expenditures	N/A	N/A	$0	$0	$0	N/A	$0-100.0%	$21K
Free Cash Flow	N/A	N/A	-$3.5M+10.3%	-$3.9M-25.8%	-$3.1M	N/A	-$6.1M0.0%	-$6.1M
Investing Cash Flow	-$9K	$0	$0	$0	$0+100.0%	-$33K	$0+100.0%	-$83K
Financing Cash Flow	-$195K-101.1%	$18.5M+1769.5%	$989K-81.2%	$5.3M+35.3%	$3.9M-65.2%	$11.2M+10754.3%	-$105K-103.1%	$3.4M
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

INAB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-70.5%+139.7pp	-210.2%-89.9pp	-120.3%+5.1pp	-125.5%	N/A	N/A
Return on Assets	-60.2%+85.1pp	-145.3%-56.3pp	-89.0%-2.7pp	-86.3%-51.6pp	-34.7%+6.2pp	-40.9%
Current Ratio	8.82+4.7	4.08-0.5	4.57+0.7	3.82-13.5	17.28+10.2	7.05
Debt-to-Equity	0.17-0.3	0.45+0.1	0.35-0.1	0.45+2.6	-2.11+0.2	-2.26
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-22.3%	N/A	-29.2%+4.2pp	-33.4%+6.6pp	-40.0%	N/A	-82.5%-19.2pp	-63.3%
Return on Assets	-19.4%	N/A	-23.0%+3.3pp	-26.3%+1.6pp	-27.9%	N/A	-44.4%-6.0pp	-38.4%
Current Ratio	10.50+1.7	8.82+1.9	6.91-0.1	7.03+2.7	4.30+0.2	4.08+2.2	1.84-0.8	2.66
Debt-to-Equity	0.15-0.0	0.17-0.1	0.270.0	0.27-0.2	0.43-0.0	0.45-0.4	0.86+0.2	0.65
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is In8Bio, Inc. profitable?

No, In8Bio, Inc. (INAB) reported a net income of -$19.4M in fiscal year 2025.

What is In8Bio, Inc.'s EBITDA?

In8Bio, Inc. (INAB) had EBITDA of -$17.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is In8Bio, Inc.'s return on equity (ROE)?

In8Bio, Inc. (INAB) has a return on equity of -70.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is In8Bio, Inc.'s operating cash flow?

In8Bio, Inc. (INAB) generated -$12.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are In8Bio, Inc.'s total assets?

In8Bio, Inc. (INAB) had $32.3M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does In8Bio, Inc. spend on research and development?

In8Bio, Inc. (INAB) invested $10.2M in research and development during fiscal year 2025.

How many shares does In8Bio, Inc. have outstanding?

In8Bio, Inc. (INAB) had 10M shares outstanding as of fiscal year 2025.

What is In8Bio, Inc.'s current ratio?

In8Bio, Inc. (INAB) had a current ratio of 8.82 as of fiscal year 2025, which is generally considered healthy.

What is In8Bio, Inc.'s debt-to-equity ratio?

In8Bio, Inc. (INAB) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is In8Bio, Inc.'s return on assets (ROA)?

In8Bio, Inc. (INAB) had a return on assets of -60.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is In8Bio, Inc.'s cash runway?

Based on fiscal year 2025 data, In8Bio, Inc. (INAB) had $27.3M in cash against an annual operating cash burn of $12.7M. This gives an estimated cash runway of approximately 26 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 In8Bio, Inc.'s Piotroski F-Score?

In8Bio, Inc. (INAB) 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 In8Bio, Inc.'s earnings high quality?

In8Bio, Inc. (INAB) has an earnings quality ratio of 0.65x, 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 In8Bio, Inc.?

In8Bio, Inc. (INAB) 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.