Inhibrx Biosciences Inc Financials
Inhibrx Biosciences Inc (INBX) reported $1.3M in revenue for fiscal year 2025, up 550.0% from the prior fiscal year. This page shows its 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).
Development-stage economics dominate: very limited revenue is outweighed by research spending, operating losses, and financing-dependent balance-sheet changes.
Cash conversion is not the main issue because accounting losses and cash outflows largely agree: FY2025 operating cash flow was-$129.8M versus free cash flow of-$129.8M , while capital expenditures were only$31K . That combination indicates the cash requirement is primarily ongoing operations and development activity, not heavy physical reinvestment.
Commercial scale remains embryonic: FY2025 revenue of
Balance-sheet leverage became more concentrated: debt-to-equity rose from 0.4x in FY2024 to 12.6x in FY2025 as equity fell to
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's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 28/100.
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.
Inhibrx Biosciences Inc's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Inhibrx Biosciences Inc posts a -1752.2% return on equity (ROE), meaning it loses $1752 for every $100 of shareholders' equity. This results in a returns score of 29/100.
Inhibrx Biosciences Inc scores 3.29, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.8B) relative to total liabilities ($138.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
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 6 computable financial strength tests (3 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.
Inhibrx Biosciences Inc reported a net loss of $140.1M while operations used $129.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Inhibrx Biosciences Inc reported an operating loss of $135.0M against $12.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
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 recorded an outflow of $129.8M in free cash flow in fiscal year 2025, representing a cash shortfall 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.
Not reported for fiscal year 2025.
Margins & Returns
Inhibrx Biosciences Inc's ROE was -1752.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
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.
Not reported for fiscal year 2025.
INBX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | N/A | N/A | $0-100.0% | $1.3M | $0 | N/A | $0 |
| R&D Expenses | $23.9M-5.2% | $25.2M | N/A | $28.5M+28.1% | $22.3M-39.6% | $36.9M | N/A | $38.9M |
| SG&A Expenses | $8.3M+44.5% | $5.7M | N/A | $5.3M-17.8% | $6.4M+6.6% | $6.0M | N/A | $7.9M |
| Operating Income | -$32.1M-4.0% | -$30.9M | N/A | -$33.8M-23.5% | -$27.4M+36.2% | -$42.9M | N/A | -$46.8M |
| Interest Expense | $5.7M+62.2% | $3.5M | N/A | $3.2M+1.3% | $3.1M+16.8% | $2.7M | N/A | $0 |
| Income Tax | $3K | $0 | N/A | $0-100.0% | $2K | $0 | N/A | $0 |
| Net Income | -$36.6M-9.6% | -$33.4M | N/A | -$35.3M-23.0% | -$28.7M+33.8% | -$43.3M | N/A | -$43.9M |
| EPS (Diluted) | -$2.34-8.8% | -$2.15-1.9% | -$2.11+7.5% | -$2.28-23.2% | -$1.85+33.9% | -$2.80+37.4% | -$4.47-57.4% | -$2.84 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
INBX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $154.2M-16.2% | $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 |
| Current Assets | $142.2M-17.0% | $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 |
| Cash & Equivalents | $133.3M-17.5% | $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 |
| Total Liabilities | $207.2M+1.1% | $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 |
| Current Liabilities | $28.1M+5.9% | $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 |
| Long-Term Debt | $176.3M+0.7% | $175.0M+74.0% | $100.6M+0.6% | $99.9M+0.6% | $99.3M+0.6% | $98.7M | $0 | $0 |
| Total Equity | -$53.0M-151.9% | -$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 |
| Retained Earnings | -$316.3M-13.1% | -$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 |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
INBX 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 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$29.9M+21.3% | -$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 |
| Capital Expenditures | $0 | $0 | $0-100.0% | $10K | $0-100.0% | $21K+31.3% | $16K-93.5% | $247K |
| Free Cash Flow | -$29.9M+21.3% | -$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 |
| Investing Cash Flow | $0 | $0 | $0+100.0% | -$7K | $0+100.0% | -$21K-31.3% | -$16K+93.5% | -$247K |
| Financing Cash Flow | $1.6M-97.9% | $75.5M+5917.8% | $1.3M+256.3% | $352K | $0-100.0% | $99.8M | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
INBX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | -2106.8% | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | -2204.2% | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | -95.7%-53.9pp | -41.8%+4.1pp | -45.9% | N/A | -24.6% |
| Return on Assets | -23.8%-5.6pp | -18.2% | N/A | -19.9%-6.4pp | -13.5%+4.3pp | -17.8% | N/A | -19.7% |
| Current Ratio | 5.07-1.4x | 6.46+2.5x | 3.93-0.6x | 4.49-0.5x | 4.98-0.1x | 5.12+1.2x | 3.94-0.8x | 4.70 |
| Debt-to-Equity | N/A | N/A | 12.58+9.9x | 2.71+1.3x | 1.45+0.4x | 1.04+1.0x | 0.000.0x | 0.00 |
| FCF Margin | N/A | N/A | N/A | N/A | -2304.1% | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Inhibrx Biosciences Inc Ranks
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 550.0% 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.
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 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) recorded an outflow of $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) recorded an outflow of $129.8M in operating cash flow during fiscal year 2025, representing cash used by 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.
How does Inhibrx Biosciences Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Inhibrx Biosciences Inc (INBX) held $124.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $129.8M over that year. Dividing the one by the other, the reported balance equals about 11 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 Inhibrx Biosciences Inc's Altman Z-Score?
Inhibrx Biosciences Inc (INBX) has an Altman Z-Score of 3.29, placing it in the Safe Zone (low bankruptcy 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 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 Inhibrx Biosciences Inc's earnings high quality?
Inhibrx Biosciences Inc (INBX) reported a net loss of $140.1M while operations used $129.8M 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.
Can Inhibrx Biosciences Inc cover its interest payments?
Inhibrx Biosciences Inc (INBX) reported an operating loss of $135.0M against $12.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.