Inhibrx Biosciences Inc Financials
This page shows Inhibrx Biosciences Inc (INBX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Inhibrx Biosciences remains a financing-dependent R&D business, where expense cuts mattered more than commercial revenue in FY2025.
The FY2025 improvement was a cost reset, not a commercial step-change: R&D fell from$203.7M in FY2024 to$113.0M and SG&A from$127.9M to$23.3M , while revenue stayed immaterial. Because financing cash flow of$101.4M nearly offset-$129.8M of operating cash burn, the$124.2M cash balance says more about external funding than about self-funding operations.
Capital intensity is low: FY2025 capex was only
Liquidity and solvency tell different stories: a 3.9x current ratio suggests near-term obligations are covered, but long-term debt jumped from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Inhibrx Biosciences 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.
Inhibrx Biosciences Inc has an operating margin of -10386.5%, meaning the company retains $-10387 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is up from -165724.0% the prior year.
Inhibrx Biosciences Inc's revenue surged 550.0% year-over-year to $1.3M, reflecting rapid business expansion. This strong growth earns a score of 3/100.
Inhibrx Biosciences Inc has elevated debt relative to equity (D/E of 12.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 3/100, reflecting increased financial risk.
With a current ratio of 3.93, Inhibrx Biosciences Inc holds $3.93 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 85/100.
While Inhibrx Biosciences Inc generated -$129.8M in operating cash flow, capex of $31K consumed most of it, leaving -$129.8M in free cash flow. This results in a low score of 1/100, reflecting heavy capital investment rather than weak cash generation.
Inhibrx Biosciences Inc generates a -1752.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100.
Inhibrx Biosciences Inc scores 2.03, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.5B) relative to total liabilities ($138.5M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Inhibrx Biosciences Inc passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Inhibrx Biosciences Inc generates $0.93 in operating cash flow (-$129.8M OCF vs -$140.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Inhibrx Biosciences Inc earns $-11.1 in operating income for every $1 of interest expense (-$135.0M vs $12.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Inhibrx Biosciences Inc generated $1.3M in revenue in fiscal year 2025. This represents an increase of 550.0% from the prior year.
Inhibrx Biosciences Inc's EBITDA was -$132.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 59.7% from the prior year.
Inhibrx Biosciences Inc reported -$140.1M in net income in fiscal year 2025.
Inhibrx Biosciences Inc earned $-9.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 108.0% from the prior year.
Cash & Balance Sheet
Inhibrx Biosciences Inc generated -$129.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 34.1% from the prior year.
Inhibrx Biosciences Inc held $124.2M in cash against $100.6M in long-term debt as of fiscal year 2025.
Inhibrx Biosciences Inc had 15M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Inhibrx Biosciences Inc's operating margin was -10386.5% in fiscal year 2025, reflecting core business profitability. This is up 155337.5 percentage points from the prior year.
Inhibrx Biosciences Inc's net profit margin was -10773.5% in fiscal year 2025, showing the share of revenue converted to profit.
Inhibrx Biosciences Inc's ROE was -1752.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Inhibrx Biosciences Inc invested $113.0M in research and development in fiscal year 2025. This represents a decrease of 44.5% from the prior year.
Inhibrx Biosciences Inc invested $31K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 98.8% from the prior year.
INBX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0-100.0% | $1.3M | $0 | N/A | $0-100.0% | $100K |
| 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 | $25.2M | N/A | $28.5M+28.1% | $22.3M-39.6% | $36.9M | N/A | $38.9M-42.5% | $67.6M |
| SG&A Expenses | $5.7M | N/A | $5.3M-17.8% | $6.4M+6.6% | $6.0M | N/A | $7.9M-91.5% | $93.4M |
| Operating Income | -$30.9M | N/A | -$33.8M-23.5% | -$27.4M+36.2% | -$42.9M | N/A | -$46.8M+70.9% | -$160.9M |
| Interest Expense | $3.5M | N/A | $3.2M+1.3% | $3.1M+16.8% | $2.7M | N/A | $0-100.0% | $5.4M |
| Income Tax | $0 | N/A | $0-100.0% | $2K | $0 | N/A | $0-100.0% | $2K |
| Net Income | -$33.4M | N/A | -$35.3M-23.0% | -$28.7M+33.8% | -$43.3M | N/A | -$43.9M | N/A |
| EPS (Diluted) | $-2.15 | N/A | $-2.28-23.2% | $-1.85+33.9% | $-2.80 | N/A | $-2.84-102.3% | $125.48 |
INBX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $184.0M+25.6% | $146.5M-17.5% | $177.5M-16.3% | $212.1M-12.6% | $242.6M+34.2% | $180.8M-18.8% | $222.6M-13.9% | $258.4M |
| Current Assets | $171.3M+29.0% | $132.8M-17.7% | $161.4M-16.8% | $194.0M-13.2% | $223.4M+39.3% | $160.4M-22.7% | $207.4M-14.3% | $242.1M |
| Cash & Equivalents | $161.7M+30.1% | $124.2M-18.9% | $153.1M-17.9% | $186.6M-13.8% | $216.5M+41.9% | $152.6M-22.3% | $196.3M-13.5% | $226.9M |
| 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 | $205.0M+48.0% | $138.5M-1.5% | $140.6M-2.0% | $143.6M-3.1% | $148.2M+214.1% | $47.2M+7.0% | $44.1M+12.9% | $39.1M |
| Current Liabilities | $26.5M-21.6% | $33.8M-6.1% | $36.0M-7.6% | $38.9M-10.8% | $43.6M+7.1% | $40.7M-7.6% | $44.1M+12.9% | $39.1M |
| Long-Term Debt | $175.0M+74.0% | $100.6M+0.6% | $99.9M+0.6% | $99.3M+0.6% | $98.7M | $0 | $0 | $0 |
| Total Equity | -$21.0M-363.2% | $8.0M-78.3% | $36.8M-46.3% | $68.6M-27.4% | $94.4M-29.3% | $133.6M-25.1% | $178.5M-18.6% | $219.4M |
| Retained Earnings | -$279.6M-13.6% | -$246.2M-15.4% | -$213.4M-19.8% | -$178.1M-19.2% | -$149.4M-40.8% | -$106.1M-82.1% | -$58.3M-304.5% | -$14.4M |
INBX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$38.0M-26.2% | -$30.1M+10.9% | -$33.8M-12.9% | -$30.0M+16.6% | -$35.9M+17.9% | -$43.7M-44.4% | -$30.3M+47.2% | -$57.4M |
| Capital Expenditures | $0 | $0-100.0% | $10K | $0-100.0% | $21K+31.3% | $16K-93.5% | $247K-79.7% | $1.2M |
| Free Cash Flow | -$38.0M-26.2% | -$30.1M+11.0% | -$33.8M-13.0% | -$30.0M+16.6% | -$35.9M+17.9% | -$43.7M-43.3% | -$30.5M+47.9% | -$58.6M |
| Investing Cash Flow | $0 | $0+100.0% | -$7K | $0+100.0% | -$21K-31.3% | -$16K+93.5% | -$247K+79.7% | -$1.2M |
| Financing Cash Flow | $75.5M+5917.8% | $1.3M+256.3% | $352K | $0-100.0% | $99.8M | $0 | $0-100.0% | $33.0M |
| 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 |
INBX Financial Ratios
| 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 | -2106.8% | N/A | N/A | N/A | -160898.0% |
| Net Margin | N/A | N/A | N/A | -2204.2% | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | -95.7%-53.9pp | -41.8%+4.1pp | -45.9% | N/A | -24.6% | N/A |
| Return on Assets | -18.2% | N/A | -19.9%-6.4pp | -13.5%+4.3pp | -17.8% | N/A | -19.7% | N/A |
| Current Ratio | 6.46+2.5 | 3.93-0.6 | 4.49-0.5 | 4.98-0.1 | 5.12+1.2 | 3.94-0.8 | 4.70-1.5 | 6.20 |
| Debt-to-Equity | -8.32-20.9 | 12.58+9.9 | 2.71+1.3 | 1.45+0.4 | 1.04+1.0 | 0.000.0 | 0.000.0 | 0.00 |
| FCF Margin | N/A | N/A | N/A | -2304.1% | N/A | N/A | N/A | -58573.0% |
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Frequently Asked Questions
What is Inhibrx Biosciences Inc's annual revenue?
Inhibrx Biosciences Inc (INBX) reported $1.3M in total revenue for fiscal year 2025. This represents a 550.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Inhibrx Biosciences Inc's revenue growing?
Inhibrx Biosciences Inc (INBX) revenue grew by 550% year-over-year, from $200K to $1.3M in fiscal year 2025.
Is Inhibrx Biosciences Inc profitable?
No, Inhibrx Biosciences Inc (INBX) reported a net income of -$140.1M in fiscal year 2025, with a net profit margin of -10773.5%.
What is Inhibrx Biosciences Inc's EBITDA?
Inhibrx Biosciences Inc (INBX) had EBITDA of -$132.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Inhibrx Biosciences Inc have?
As of fiscal year 2025, Inhibrx Biosciences Inc (INBX) had $124.2M in cash and equivalents against $100.6M in long-term debt.
What is Inhibrx Biosciences Inc's operating margin?
Inhibrx Biosciences Inc (INBX) had an operating margin of -10386.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Inhibrx Biosciences Inc's net profit margin?
Inhibrx Biosciences Inc (INBX) had a net profit margin of -10773.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Inhibrx Biosciences Inc's return on equity (ROE)?
Inhibrx Biosciences Inc (INBX) has a return on equity of -1752.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Inhibrx Biosciences Inc's free cash flow?
Inhibrx Biosciences Inc (INBX) generated -$129.8M in free cash flow during fiscal year 2025. This represents a 34.1% 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 Inhibrx Biosciences Inc's operating cash flow?
Inhibrx Biosciences Inc (INBX) generated -$129.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Inhibrx Biosciences Inc's total assets?
Inhibrx Biosciences Inc (INBX) had $146.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Inhibrx Biosciences Inc's capital expenditures?
Inhibrx Biosciences Inc (INBX) invested $31K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Inhibrx Biosciences Inc spend on research and development?
Inhibrx Biosciences Inc (INBX) invested $113.0M in research and development during fiscal year 2025.
What is Inhibrx Biosciences Inc's current ratio?
Inhibrx Biosciences Inc (INBX) had a current ratio of 3.93 as of fiscal year 2025, which is generally considered healthy.
What is Inhibrx Biosciences Inc's debt-to-equity ratio?
Inhibrx Biosciences Inc (INBX) had a debt-to-equity ratio of 12.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Inhibrx Biosciences Inc's return on assets (ROA)?
Inhibrx Biosciences Inc (INBX) had a return on assets of -95.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Inhibrx Biosciences Inc's cash runway?
Based on fiscal year 2025 data, Inhibrx Biosciences Inc (INBX) had $124.2M in cash against an annual operating cash burn of $129.8M. This gives an estimated cash runway of approximately 11 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 Inhibrx Biosciences Inc's Altman Z-Score?
Inhibrx Biosciences Inc (INBX) has an Altman Z-Score of 2.03, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Inhibrx Biosciences Inc's Piotroski F-Score?
Inhibrx Biosciences Inc (INBX) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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 Inhibrx Biosciences Inc's earnings high quality?
Inhibrx Biosciences Inc (INBX) has an earnings quality ratio of 0.93x, 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.
Can Inhibrx Biosciences Inc cover its interest payments?
Inhibrx Biosciences Inc (INBX) has an interest coverage ratio of -11.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Inhibrx Biosciences Inc?
Inhibrx Biosciences Inc (INBX) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.