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

Inmune Bio Inc (INMB) reported diluted earnings per share of $-1.86 for fiscal year 2025. This represents a 11.8% 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.

Inmune Bio Inc Financials

INMB

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

This page shows Inmune Bio Inc (INMB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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 INMB FY2025 2026-05-07

INmune Bio runs as a cash-funded R&D platform, where equity raises rather than sales pay for ongoing operations.

FY2025 free cash burn of $23.6M sat almost level with year-end cash of $24.8M, so the existing cash balance alone covered only about one year of spending at that pace. Cash still increased because financing supplied $27.6M while shares outstanding rose from 22.3M to 26.6M, showing the company is being funded mainly by new equity rather than by customers or lenders.

With FY2025 revenue of $50K against R&D expense of $20.7M, the income statement is driven by development choices, not commercial scale. That helps explain why reported losses say more about how aggressively programs are being funded than about demand from a product base that is still minimal.

Leverage is modest: total liabilities were $8.8M versus cash of $24.8M, so debt is not the main financing tool. The trade-off is dilution, as the share count moved from 22.3M to 26.6M in FY2025 while interest expense fell to $0.

Financial Health Signals

Financial health score pending refresh

We are recalculating Inmune Bio Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-9.97

Inmune Bio Inc scores -9.97, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($45.7M) relative to total liabilities ($8.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/7

Inmune Bio Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.49x

For every $1 of reported earnings, Inmune Bio Inc generates $0.49 in operating cash flow (-$22.6M OCF vs -$46.0M 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

$50K

YoY+257.1%

5Y CAGR+35.4%

Inmune Bio Inc generated $50K in revenue in fiscal year 2025. This represents an increase of 257.1% from the prior year.

EBITDA

-$47.3M

Inmune Bio Inc's EBITDA was -$47.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Net Income

-$46.0M

YoY-9.5%

Inmune Bio Inc reported -$46.0M in net income in fiscal year 2025. This represents a decrease of 9.5% from the prior year.

EPS (Diluted)

$-1.86

YoY+11.8%

Inmune Bio Inc earned $-1.86 per diluted share (EPS) in fiscal year 2025. This represents an increase of 11.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$23.6M

Inmune Bio Inc generated -$23.6M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$24.8M

YoY+18.3%

5Y CAGR+2.4%

Inmune Bio Inc held $24.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

27M

YoY+19.3%

5Y CAGR+14.5%

Inmune Bio Inc had 27M shares outstanding in fiscal year 2025. This represents an increase of 19.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-94766.0%

YoY+209769.7pp

5Y CAGR+16397.6pp

Inmune Bio Inc's operating margin was -94766.0% in fiscal year 2025, reflecting core business profitability. This is up 209769.7 percentage points from the prior year.

Net Margin

-92000.0%

YoY+208000.0pp

5Y CAGR+17990.9pp

Inmune Bio Inc's net profit margin was -92000.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 208000.0 percentage points from the prior year.

Return on Equity

-195.5%

YoY-64.7pp

5Y CAGR-164.3pp

Inmune Bio Inc's ROE was -195.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 64.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$20.7M

YoY-37.7%

5Y CAGR+28.4%

Inmune Bio Inc invested $20.7M in research and development in fiscal year 2025. This represents a decrease of 37.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.0M

Inmune Bio Inc invested $1.0M in capex in fiscal year 2025, funding long-term assets and infrastructure.

INMB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$50K+257.1%	$14K-91.0%	$155K-58.6%	$374K+106.6%	$181K+1545.5%	$11K
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	$20.7M-37.7%	$33.2M+63.6%	$20.3M+18.8%	$17.1M-16.9%	$20.5M+247.1%	$5.9M
SG&A Expenses	$10.3M+8.2%	$9.5M-1.5%	$9.6M+3.9%	$9.3M+5.3%	$8.8M+39.1%	$6.3M
Operating Income	-$47.4M-11.1%	-$42.6M-43.4%	-$29.7M-14.6%	-$26.0M+11.0%	-$29.2M-138.4%	-$12.2M
Interest Expense	$0-100.0%	$357K-84.3%	$2.3M+13.1%	$2.0M+104.5%	$985K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$46.0M-9.5%	-$42.0M-40.0%	-$30.0M-9.9%	-$27.3M+10.0%	-$30.3M-150.8%	-$12.1M
EPS (Diluted)	$-1.86+11.8%	$-2.11-26.3%	$-1.67-9.9%	$-1.52+19.1%	$-1.88	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	$50K	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	$3.6M	N/A	$4.9M-15.8%	$5.8M-24.0%	$7.6M	N/A	$10.1M+42.7%	$7.1M
SG&A Expenses	$2.2M	N/A	$2.5M+13.0%	$2.3M-2.7%	$2.3M	N/A	$2.2M-21.1%	$2.8M
Operating Income	-$5.8M	N/A	-$7.4M+69.7%	-$24.6M-148.1%	-$9.9M	N/A	-$12.3M-24.5%	-$9.9M
Interest Expense	N/A	N/A	N/A	$250K	$0	N/A	$145K-42.0%	$250K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$5.4M	N/A	-$6.5M+73.5%	-$24.5M-151.1%	-$9.7M	N/A	-$12.1M-24.1%	-$9.7M
EPS (Diluted)	$-0.20	N/A	$-0.24+77.1%	$-1.05-144.2%	$-0.43	N/A	$-0.60-20.0%	$-0.50

INMB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$32.4M-18.2%	$39.6M-30.6%	$57.0M-30.3%	$81.8M-18.2%	$99.9M+145.8%	$40.7M
Current Assets	$29.9M+31.9%	$22.7M-43.3%	$39.9M-38.2%	$64.7M-21.7%	$82.6M+244.4%	$24.0M
Cash & Equivalents	$24.8M+18.3%	$20.9M-41.6%	$35.8M-31.3%	$52.2M-30.3%	$74.8M+240.6%	$22.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$4.3M+262.7%	$1.2M-38.0%	$1.9M	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$8.8M+18.2%	$7.5M-60.4%	$18.9M-13.0%	$21.7M+10.0%	$19.7M+936.8%	$1.9M
Current Liabilities	$8.4M+16.5%	$7.2M-60.9%	$18.5M+69.1%	$10.9M+150.5%	$4.4M+145.4%	$1.8M
Long-Term Debt	N/A	N/A	N/A	$9.7M-35.4%	$15.0M	N/A
Total Equity	$23.5M-26.7%	$32.1M-14.0%	$37.3M-37.9%	$60.1M-25.1%	$80.2M+107.0%	$38.8M
Retained Earnings	-$209.0M-28.2%	-$163.1M-34.8%	-$121.0M-33.0%	-$91.0M-42.8%	-$63.7M-90.9%	-$33.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$25.8M-20.2%	$32.4M-3.0%	$33.4M-11.5%	$37.7M-0.3%	$37.8M-4.5%	$39.6M-25.0%	$52.8M+0.6%	$52.5M
Current Assets	$22.8M-23.6%	$29.9M-2.6%	$30.7M-14.9%	$36.0M+71.9%	$21.0M-7.5%	$22.7M-36.8%	$35.9M+1.0%	$35.5M
Cash & Equivalents	$21.4M-13.7%	$24.8M-10.8%	$27.7M-16.9%	$33.4M+72.6%	$19.3M-7.6%	$20.9M-37.6%	$33.6M+8.0%	$31.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$479K-88.8%	$4.3M+151.4%	$1.7M+6.2%	$1.6M+25.1%	$1.3M+8.6%	$1.2M+6.5%	$1.1M-64.7%	$3.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.2M-29.8%	$8.8M+10.6%	$8.0M-9.5%	$8.8M+8.5%	$8.1M+8.9%	$7.5M-47.1%	$14.1M-8.2%	$15.4M
Current Liabilities	$5.4M-36.0%	$8.4M+14.4%	$7.4M-14.3%	$8.6M+8.3%	$7.9M+9.8%	$7.2M-47.8%	$13.8M-8.2%	$15.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$19.6M-16.6%	$23.5M-7.3%	$25.4M-12.1%	$28.9M-2.7%	$29.7M-7.6%	$32.1M-17.0%	$38.7M+6.6%	$36.3M
Retained Earnings	-$214.4M-2.6%	-$209.0M-2.6%	-$203.8M-3.3%	-$197.3M-14.2%	-$172.8M-6.0%	-$163.1M-6.0%	-$153.9M-8.5%	-$141.8M

INMB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$22.6M+32.3%	-$33.4M-178.5%	-$12.0M+47.2%	-$22.7M+20.4%	-$28.5M-218.7%	-$8.9M
Capital Expenditures	$1.0M	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	-$23.6M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.0M	N/A	N/A	N/A	-$15.0M	N/A
Financing Cash Flow	$27.6M+51.6%	$18.2M+531.0%	-$4.2M-679.6%	$729K-99.2%	$96.4M+303.3%	$23.9M
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	-$3.4M-15.6%	-$2.9M+45.9%	-$5.4M+26.3%	-$7.4M-8.1%	-$6.8M+38.0%	-$11.0M-57.6%	-$7.0M+11.4%	-$7.9M
Capital Expenditures	N/A	$143K-25.9%	$193K	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	-$3.1M+45.2%	-$5.6M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	-$143K+25.9%	-$193K	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	$67K	$0-100.0%	$22.3M+322.3%	$5.3M+353.8%	-$2.1M-121.2%	$9.8M-24.7%	$13.0M
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

INMB 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	-94766.0%+209769.7pp	-304535.7%-285348.0pp	-19187.7%-12249.0pp	-6938.8%+9167.9pp	-16106.6%+95057.0pp	-111163.6%
Net Margin	-92000.0%+208000.0pp	-300000.0%-280645.2pp	-19354.8%-12055.6pp	-7299.2%+9463.2pp	-16762.4%+93228.5pp	-109990.9%
Return on Equity	-195.5%-64.7pp	-130.8%-50.5pp	-80.3%-34.9pp	-45.4%-7.6pp	-37.8%-6.6pp	-31.2%
Return on Assets	-142.2%-36.0pp	-106.2%-53.5pp	-52.6%-19.3pp	-33.4%-3.0pp	-30.4%-0.6pp	-29.8%
Current Ratio	3.55+0.4	3.14+1.0	2.16-3.8	5.92-13.0	18.95+5.4	13.51
Debt-to-Equity	0.38+0.1	0.23-0.3	0.51+0.3	0.16-0.0	0.19+0.1	0.05
FCF Margin	-47248.0%	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	-19810.0%	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	-19478.0%	N/A	N/A	N/A
Return on Equity	-27.6%	N/A	-25.5%+59.2pp	-84.7%-51.9pp	-32.8%	N/A	-31.3%-4.4pp	-26.9%
Return on Assets	-20.9%	N/A	-19.4%+45.5pp	-64.9%-39.1pp	-25.8%	N/A	-22.9%-4.3pp	-18.6%
Current Ratio	4.24+0.7	3.55-0.6	4.17-0.0	4.20+1.6	2.64-0.5	3.14+0.5	2.59+0.2	2.36
Debt-to-Equity	0.32-0.1	0.38+0.1	0.310.0	0.31+0.0	0.27+0.0	0.23-0.1	0.36-0.1	0.42
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

What is Inmune Bio Inc's annual revenue?

Inmune Bio Inc (INMB) reported $50K in total revenue for fiscal year 2025. This represents a 257.1% 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 Inmune Bio Inc's revenue growing?

Inmune Bio Inc (INMB) revenue grew by 257.1% year-over-year, from $14K to $50K in fiscal year 2025.

Is Inmune Bio Inc profitable?

No, Inmune Bio Inc (INMB) reported a net income of -$46.0M in fiscal year 2025, with a net profit margin of -92000.0%.

What is Inmune Bio Inc's EBITDA?

Inmune Bio Inc (INMB) had EBITDA of -$47.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Inmune Bio Inc's operating margin?

Inmune Bio Inc (INMB) had an operating margin of -94766.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Inmune Bio Inc's net profit margin?

Inmune Bio Inc (INMB) had a net profit margin of -92000.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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

Inmune Bio Inc (INMB) has a return on equity of -195.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Inmune Bio Inc's free cash flow?

Inmune Bio Inc (INMB) generated -$23.6M in free cash flow during fiscal year 2025. 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 Inmune Bio Inc's operating cash flow?

Inmune Bio Inc (INMB) generated -$22.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Inmune Bio Inc's total assets?

Inmune Bio Inc (INMB) had $32.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Inmune Bio Inc's capital expenditures?

Inmune Bio Inc (INMB) invested $1.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Inmune Bio Inc spend on research and development?

Inmune Bio Inc (INMB) invested $20.7M in research and development during fiscal year 2025.

How many shares does Inmune Bio Inc have outstanding?

Inmune Bio Inc (INMB) had 27M shares outstanding as of fiscal year 2025.

What is Inmune Bio Inc's current ratio?

Inmune Bio Inc (INMB) had a current ratio of 3.55 as of fiscal year 2025, which is generally considered healthy.

What is Inmune Bio Inc's debt-to-equity ratio?

Inmune Bio Inc (INMB) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Inmune Bio Inc's return on assets (ROA)?

Inmune Bio Inc (INMB) had a return on assets of -142.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Inmune Bio Inc's cash runway?

Based on fiscal year 2025 data, Inmune Bio Inc (INMB) had $24.8M in cash against an annual operating cash burn of $22.6M. This gives an estimated cash runway of approximately 13 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 Inmune Bio Inc's Altman Z-Score?

Inmune Bio Inc (INMB) has an Altman Z-Score of -9.97, placing it in the Distress Zone (elevated 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 Inmune Bio Inc's Piotroski F-Score?

Inmune Bio Inc (INMB) has a Piotroski F-Score of 3 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 Inmune Bio Inc's earnings high quality?

Inmune Bio Inc (INMB) has an earnings quality ratio of 0.49x, 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.