Instil Bio, Inc. Financials
This page shows Instil Bio, Inc. (TIL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Financial Health Signals
Instil Bio, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Instil Bio, Inc. generates $0.75 in operating cash flow (-$55.7M OCF vs -$74.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Instil Bio, Inc. earns $-8.2 in operating income for every $1 of interest expense (-$73.5M vs $9.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Instil Bio, Inc.'s EBITDA was -$69.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 54.7% from the prior year.
Instil Bio, Inc. generated -$55.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 45.8% from the prior year.
Instil Bio, Inc. reported -$74.1M in net income in fiscal year 2024. This represents an increase of 52.5% from the prior year.
Instil Bio, Inc. earned $-11.39 per diluted share (EPS) in fiscal year 2024. This represents an increase of 52.5% from the prior year.
Instil Bio, Inc. held $8.8M in cash against $0 in long-term debt as of fiscal year 2024.
Instil Bio, Inc. had 7M shares outstanding in fiscal year 2024. This represents an increase of 0.3% from the prior year.
Instil Bio, Inc. invested $11.8M in research and development in fiscal year 2024. This represents a decrease of 70.1% from the prior year.
Instil Bio, Inc. invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
TIL Income Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| 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 | $9.1M+1524.0% | $562K | N/A | $8.5M | N/A | $39.7M-6.9% | $42.6M+46.5% | $29.1M |
| SG&A Expenses | $5.9M-44.9% | $10.7M | N/A | $11.9M | N/A | $17.0M+52.0% | $11.2M-19.9% | $14.0M |
| Operating Income | -$15.0M+36.4% | -$23.6M | N/A | -$66.7M | N/A | -$56.6M-5.4% | -$53.8M-24.9% | -$43.0M |
| Interest Expense | $1.6M-21.2% | $2.0M | N/A | $2.0M | N/A | $807K | N/A | $0 |
| Income Tax | N/A | N/A | N/A | $0 | N/A | -$371K-135.0% | $1.1M+261.1% | -$658K |
| Net Income | -$13.6M+41.0% | -$23.0M | N/A | -$67.4M | N/A | -$56.2M-1.6% | -$55.4M-28.7% | -$43.0M |
| EPS (Diluted) | $-2.01+43.2% | $-3.54 | N/A | $-10.37 | N/A | $-0.43-95.5% | $-0.22+33.3% | $-0.33 |
TIL Balance Sheet
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $211.8M-19.7% | $263.6M-19.1% | $325.6M-4.3% | $340.3M-29.4% | $482.1M-9.5% | $532.7M-12.7% | $610.0M-5.8% | $647.4M |
| Current Assets | $196.3M+57.7% | $124.5M-22.6% | $160.8M-17.8% | $195.6M-27.4% | $269.4M-14.1% | $313.7M-32.4% | $464.0M-11.3% | $523.1M |
| Cash & Equivalents | $5.8M-34.1% | $8.8M-4.2% | $9.2M+0.7% | $9.1M-79.1% | $43.7M+6.3% | $41.1M+9.4% | $37.6M+84.3% | $20.4M |
| 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 | $0-100.0% | $5.7M0.0% | $5.7M0.0% | $5.7M |
| Total Liabilities | $91.3M-3.0% | $94.1M-5.7% | $99.8M-6.1% | $106.2M-10.4% | $118.5M-3.0% | $122.2M+123.0% | $54.8M+19.2% | $46.0M |
| Current Liabilities | $5.7M-27.8% | $7.9M-25.2% | $10.6M-21.6% | $13.5M-58.9% | $32.8M-22.1% | $42.1M+1.8% | $41.4M+28.9% | $32.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $120.4M-28.9% | $169.4M-25.0% | $225.8M-3.5% | $234.0M-35.6% | $363.6M-11.4% | $410.6M-26.0% | $555.2M-7.7% | $601.4M |
| Retained Earnings | -$718.3M-9.6% | -$655.1M-12.8% | -$581.0M-2.3% | -$568.1M-33.7% | -$424.9M-14.5% | -$371.1M-83.9% | -$201.7M-37.8% | -$146.4M |
TIL Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.6M0.0% | -$10.6M+21.1% | -$13.4M+7.2% | -$14.4M+61.0% | -$37.0M+9.5% | -$40.9M+4.5% | -$42.8M-45.6% | -$29.4M |
| Capital Expenditures | N/A | $0-100.0% | $58K-98.9% | $5.2M-60.4% | $13.0M-48.4% | $25.2M+36.5% | $18.5M-15.1% | $21.7M |
| Free Cash Flow | N/A | -$10.6M+21.4% | -$13.4M+31.4% | -$19.6M+60.8% | -$50.0M+24.3% | -$66.1M-7.9% | -$61.3M-19.8% | -$51.1M |
| Investing Cash Flow | $8.4M-35.0% | $13.0M-6.8% | $13.9M+501.6% | $2.3M-92.9% | $32.8M+29.3% | $25.4M-57.7% | $60.0M+111.6% | -$516.7M |
| Financing Cash Flow | $378K-76.3% | $1.6M | $0+100.0% | -$587K-109.5% | $6.2M-57.9% | $14.7M+7335.4% | $198K+63.6% | $121K |
| 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 |
TIL Financial Ratios
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -6.4%+2.0pp | -8.5% | N/A | -19.8% | N/A | -10.5%-1.5pp | -9.1%-2.4pp | -6.6% |
| Current Ratio | 34.45+18.7 | 15.76+0.5 | 15.22+0.7 | 14.53+6.3 | 8.22+0.8 | 7.45-3.8 | 11.22-5.1 | 16.30 |
| Debt-to-Equity | 0.76+0.2 | 0.56+0.1 | 0.44-0.0 | 0.45+0.1 | 0.33+0.0 | 0.30+0.2 | 0.10+0.0 | 0.08 |
| 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 Instil Bio, Inc. profitable?
No, Instil Bio, Inc. (TIL) reported a net income of -$74.1M in fiscal year 2024.
What is Instil Bio, Inc.'s earnings per share (EPS)?
Instil Bio, Inc. (TIL) reported diluted earnings per share of $-11.39 for fiscal year 2024. This represents a 52.5% 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.
What is Instil Bio, Inc.'s EBITDA?
Instil Bio, Inc. (TIL) had EBITDA of -$69.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Instil Bio, Inc.'s free cash flow?
Instil Bio, Inc. (TIL) generated -$55.7M in free cash flow during fiscal year 2024. This represents a 45.8% 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 Instil Bio, Inc.'s operating cash flow?
Instil Bio, Inc. (TIL) generated -$55.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Instil Bio, Inc.'s total assets?
Instil Bio, Inc. (TIL) had $263.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Instil Bio, Inc.'s capital expenditures?
Instil Bio, Inc. (TIL) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Instil Bio, Inc. spend on research and development?
Instil Bio, Inc. (TIL) invested $11.8M in research and development during fiscal year 2024.
How many shares does Instil Bio, Inc. have outstanding?
Instil Bio, Inc. (TIL) had 7M shares outstanding as of fiscal year 2024.
What is Instil Bio, Inc.'s current ratio?
Instil Bio, Inc. (TIL) had a current ratio of 15.76 as of fiscal year 2024, which is generally considered healthy.
What is Instil Bio, Inc.'s debt-to-equity ratio?
Instil Bio, Inc. (TIL) had a debt-to-equity ratio of 0.56 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Instil Bio, Inc.'s return on assets (ROA)?
Instil Bio, Inc. (TIL) had a return on assets of -28.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Instil Bio, Inc.'s cash runway?
Based on fiscal year 2024 data, Instil Bio, Inc. (TIL) had $8.8M in cash against an annual operating cash burn of $55.7M. This gives an estimated cash runway of approximately 2 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 Instil Bio, Inc.'s Piotroski F-Score?
Instil Bio, Inc. (TIL) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Instil Bio, Inc.'s earnings high quality?
Instil Bio, Inc. (TIL) has an earnings quality ratio of 0.75x, 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 Instil Bio, Inc. cover its interest payments?
Instil Bio, Inc. (TIL) has an interest coverage ratio of -8.2x, 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.