Instil Bio, Inc. (TIL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TIL SEC filings page.
This page shows Instil Bio, Inc. (TIL) 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).
Instil remains a development-stage business: costs are shrinking, cash outflow is easing, but equity is being consumed without reported revenue.
FY2025 net loss was$71.4M , close to FY2024's$74.1M , while operating cash flow improved. The shift coincided with SG&A falling to$27.2M even as R&D rose to$24.7M , pointing to overhead reduction—not revenue generation—as the main reported change in cash use.
With no usable reported revenue series through FY2025, sales growth and margin analysis cannot explain the business; its reported activity is concentrated in development spending and losses. R&D more than doubled from
FY2025 liquidity equaled 2.2 months of reported annual operating outflow, a comparison of reported resources with one year's reported cash use rather than a forecast. Equity ended at
Financial Health Signals
Instil Bio, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Instil Bio, Inc. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Instil Bio, Inc. reported a net loss of $71.4M while operations used $36.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Instil Bio, Inc. reported an operating loss of $78.6M against $5.8M 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
Instil Bio, Inc.'s EBITDA was -$5.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 77.0% from the same quarter a year earlier. Against the prior quarter it is up 23.1%.
Instil Bio, Inc. reported -$4.3M in net income in Q2 2026. This represents an increase of 79.9% from the same quarter a year earlier. Against the prior quarter it is down 2.3%.
Instil Bio, Inc. earned -$0.63 per diluted share (EPS) in Q2 2026. This represents an increase of 80.6% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.
Not reported for Q2 2026.
Cash & Balance Sheet
Instil Bio, Inc. held $5.5M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Instil Bio, Inc.'s ROE was -4.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 12.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Instil Bio, Inc. invested $270K in research and development in Q2 2026. This represents a decrease of 96.0% from the same quarter a year earlier. Against the prior quarter it is down 59.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
TIL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $270K-96.0% | $669K-87.5% | N/A | $9.1M+1524.0% | $6.7M+130.8% | $5.4M-26.0% | N/A | $562K-93.4% |
| SG&A Expenses | $5.1M-16.7% | $5.3M-41.3% | N/A | $5.9M-44.9% | $6.2M-42.5% | $9.1M-26.7% | N/A | $10.7M-10.3% |
| Operating Income | -$5.6M+76.2% | -$7.0M+77.1% | N/A | -$15.0M+36.4% | -$23.4M-65.8% | -$30.6M-27.6% | N/A | -$23.6M+64.6% |
| EBITDA | -$5.4M+77.0% | -$7.0M+76.7% | N/A | -$15.0M+34.0% | -$23.4M-78.5% | -$30.1M-30.9% | N/A | -$22.7M+65.4% |
| Interest Expense | $1.6M0.0% | $1.6M+41.3% | N/A | $1.6M-21.2% | $1.6M-20.9% | $1.1M-44.6% | N/A | $2.0M+0.2% |
| Net Income | -$4.3M+79.9% | -$4.2M+85.1% | N/A | -$13.6M+41.0% | -$21.4M-43.4% | -$28.2M-16.0% | N/A | -$23.0M+65.9% |
| EPS (Basic) | -$0.63+80.6% | -$0.62+85.6% | -$1.17+35.7% | -$2.01+43.2% | -$3.24-41.5% | -$4.32-15.5% | -$1.82+8.5% | -$3.54+65.9% |
| EPS (Diluted) | -$0.63+80.6% | -$0.62+85.6% | -$1.17+35.7% | -$2.01+43.2% | -$3.24-41.5% | -$4.32-15.5% | -$1.82+8.5% | -$3.54 |
| Diluted Shares (Avg) | 7M+2.8% | 7M+3.8% | N/A | 7M+3.9% | 7M+1.4% | 7M+0.4% | N/A | 7M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
TIL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $197.7M-14.4% | $200.4M-15.6% | $203.5M-22.8% | $211.8M-22.3% | $231.0M-21.5% | $237.4M-22.5% | $263.6M-19.1% | $272.6M-19.9% |
| Current Assets | $71.6M-65.5% | $188.3M-14.1% | $191.4M+53.8% | $196.3M+48.0% | $207.4M+33.9% | $219.3M+36.2% | $124.5M-22.6% | $132.6M-32.2% |
| Cash & Equivalents | $5.5M-27.9% | $5.0M-67.3% | $6.6M-24.6% | $5.8M-12.9% | $7.7M+13.4% | $15.4M+180.2% | $8.8M-4.2% | $6.7M-27.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% |
| Long-Term Investments | $0-100.0% | $0-100.0% | $0 | $3.4M+34.7% | $11.7M+193.5% | $7.2M-6.2% | $0-100.0% | $2.6M |
| Total Liabilities | $90.3M-9.0% | $89.7M-3.0% | $89.7M-4.8% | $91.3M-5.1% | $99.3M0.0% | $92.5M-7.9% | $94.1M-5.7% | $96.2M-9.4% |
| Current Liabilities | $3.3M-76.1% | $4.7M-34.7% | $4.8M-38.7% | $5.7M-44.6% | $13.9M+34.6% | $7.2M-36.3% | $7.9M-25.2% | $10.3M-23.7% |
| Non-Current Liabilities | $87.0M+1.8% | $85.0M-0.4% | $84.8M-1.6% | $85.6M-0.4% | $85.5M-4.0% | $85.3M-4.3% | $86.2M-3.4% | $86.0M-7.4% |
| Total Equity | $107.4M-18.4% | $110.7M-23.6% | $113.9M-32.8% | $120.4M-31.7% | $131.7M-32.5% | $144.9M-29.6% | $169.4M-25.0% | $176.3M-24.7% |
| Retained Earnings | -$735.0M-4.3% | -$730.7M-6.9% | -$726.5M-10.9% | -$718.3M-11.7% | -$704.7M-13.6% | -$683.3M-12.9% | -$655.1M-12.8% | -$643.2M-13.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TIL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.6M+68.6% | -$1.3M+68.1% | -$7.1M+33.0% | -$10.6M+47.6% | -$14.8M-39.4% | -$4.2M+70.9% | -$10.6M+21.1% | -$20.1M-39.6% |
| Depreciation & Amortization | $200K | $12K-97.6% | $12K-98.4% | $10K-98.9% | $0-100.0% | $498K-49.8% | $741K-28.5% | $900K-10.0% |
| Stock-Based Compensation | $1.0M-43.2% | $985K-71.8% | N/A | $1.8M-56.5% | $1.8M-56.3% | $3.5M-22.6% | N/A | $4.1M-12.9% |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $0-100.0% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$10.6M+21.4% | -$20.1M-2.8% |
| Investing Cash Flow | $5.3M+1422.8% | -$317K-103.3% | $7.8M-39.9% | $8.4M-57.4% | -$400K-103.4% | $9.6M+4.0% | $13.0M-6.8% | $19.8M+754.4% |
| Financing Cash Flow | $0-100.0% | $0-100.0% | $0-100.0% | $378K+137.7% | $6.7M | $232K | $1.6M | $159K+127.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TIL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -4.0%+12.3pp | -3.8%+15.7pp | N/A | -11.3%+1.8pp | -16.3%-8.6pp | -19.5%-7.6pp | N/A | -13.1%+15.8pp |
| Return on Assets | -2.2%+7.1pp | -2.1%+9.8pp | N/A | -6.4%+2.0pp | -9.3%-4.2pp | -11.9%-4.0pp | N/A | -8.5%+11.4pp |
| Current Ratio | 21.67+6.7x | 39.87+9.5x | 39.53+23.8x | 34.45+21.6x | 14.97-0.1x | 30.33+16.1x | 15.76+0.5x | 12.90-1.6x |
| Debt-to-Equity | 0.84+0.1x | 0.81+0.2x | 0.79+0.2x | 0.76+0.2x | 0.75+0.2x | 0.64+0.2x | 0.56+0.1x | 0.55+0.1x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Instil Bio, Inc. TIL | FY2025 | N/A | -$71.4M | N/A | $40.1M | — |
| Nuvectis Pharma, Inc. NVCT | FY2025 | N/A | -$26.4M | N/A | $618.0M | — |
| Coherus Oncology, Inc. CHRS | FY2025 | $42.2M | $168.0M | N/A | $165.3M | 61/100 |
| Caribou Biosciences, Inc. CRBU | FY2025 | $11.2M | -$148.1M | N/A | $49.3M | 52/100 |
| SANGAMO THERAPEUTICS INC SGMO | FY2025 | $39.6M | -$122.9M | N/A | $55.9M | — |
| Alpha Cognition Inc. ACOG | FY2025 | $10.2M | -$20.7M | N/A | $184.0M | 34/100 |
Where Instil Bio, Inc. Ranks
Frequently Asked Questions
Is Instil Bio, Inc. profitable?
No, Instil Bio, Inc. (TIL) reported a net income of -$71.4M in fiscal year 2025.
What is Instil Bio, Inc.'s EBITDA?
Instil Bio, Inc. (TIL) had EBITDA of -$78.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Instil Bio, Inc.'s return on equity (ROE)?
Instil Bio, Inc. (TIL) has a return on equity of -62.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Instil Bio, Inc.'s operating cash flow?
Instil Bio, Inc. (TIL) recorded an outflow of $36.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Instil Bio, Inc.'s total assets?
Instil Bio, Inc. (TIL) had $203.5M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Instil Bio, Inc. spend on research and development?
Instil Bio, Inc. (TIL) invested $24.7M in research and development during fiscal year 2025.
What is Instil Bio, Inc.'s current ratio?
Instil Bio, Inc. (TIL) had a current ratio of 39.53 as of fiscal year 2025, 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 0.79 as of fiscal year 2025, 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 -35.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Instil Bio, Inc.'s P/E ratio?
Instil Bio, Inc. (TIL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $40.1M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Instil Bio, Inc.'s price-to-sales ratio?
Instil Bio, Inc. (TIL) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $40.1M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Instil Bio, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Instil Bio, Inc. (TIL) held $6.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $36.6M over that year. Dividing the one by the other, the reported balance equals about 2 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 Instil Bio, Inc.'s Piotroski F-Score?
Instil Bio, Inc. (TIL) 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 Instil Bio, Inc.'s earnings high quality?
Instil Bio, Inc. (TIL) reported a net loss of $71.4M while operations used $36.6M 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 Instil Bio, Inc. cover its interest payments?
Instil Bio, Inc. (TIL) reported an operating loss of $78.6M against $5.8M 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.