1.Sales and profit
See section β- Immunovant, Inc. lost $506M in fiscal 2026.
IMVT Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2019βFY2026
Last close Β· Oct 23, 2026
$28.41
2.4%Hi! I read Immunovant, Inc.βs latest annual report (fiscal 2026). Here is what stands out:
Good So-so Weak
Does it make a profit?
β$506M
No. It lost money last year.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Immunovant, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 9, 2026
Monday Β· in 15 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 6, 2026 | Q1 '27 | Before the market opens | 8-K β |
| May 20, 2026 | Q4 '26 | Before the market opens | 8-K β |
| Feb 6, 2026 | Q3 '26 | Before the market opens | 8-K β |
| Nov 10, 2025 | Q2 '26 | Before the market opens | 8-K β |
| Aug 11, 2025 | Q1 '26 | Before the market opens | 8-K β |
| May 29, 2025 | Q4 '25 | Before the market opens | 8-K β |
| Feb 6, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Nov 7, 2024 | Q2 '25 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
KIRA Β· Immunovant, Inc. lost $506M in fiscal 2026.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$407M in fiscal 2026, β of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Immunovant, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $494M | $377M | $635M | $714M | $902M |
| Current ratio | 11.5x | 9.3x | 13.7x | 11.2x | 9.1x |
| Quick ratio | 11.5x | 9.3x | 13.7x | 11.2x | 9.1x |
| Total assets | $516M | $406M | $666M | $776M | $957M |
| Total liabilities | $45.7M | $43.3M | $48.6M | $68.8M | $104M |
| Shareholders' equity | $470M | $362M | $618M | $707M | $853M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | β / 6 | β / 6 | 2 / 7 | 4 / 7 | β / 6 | β / 6 |
| Accruals ratio | β0.4% | β21.2% | β9.2% | β10.9% | β4.9% | β8.4% | β5.3% | β11.3% |
| Altman Z'' | β | β | β | β | β | β | β | β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | β | β | β | $0.0M | $7.6M | $24.9M | β | β |
| Net interest income | β | β | β | $0.0M | $7.6M | $24.9M | β | β |
| Research and development | $25.7M | $47.9M | $68.6M | $102M | $160M | $213M | $361M | $457M |
| Interest expense | β | $0.6M | $0.0M | β | β | β | β | β |
| Pretax income | β$28.6M | β$66.3M | β$108M | β$157M | β$211M | β$259M | β$413M | β$505M |
| Income tax | $0.0M | $0.1M | β$0.4M | β$0.1M | $0.0M | $0.6M | $0.9M | $0.2M |
| Net income | β$28.6M | β$66.4M | β$107M | β$157M | β$211M | β$259M | β$414M | β$506M |
| Diluted EPS | β$1.29 | β$1.54 | β$1.22 | β$1.43 | β$1.71 | β$1.88 | β$2.73 | β$2.77 |
| Diluted shares | 0.02B | 0.04B | 0.09B | 0.11B | 0.12B | 0.14B | 0.15B | 0.18B |
| Cash flow | ||||||||
| Cash from operations | β$28.5M | β$53.4M | β$83.3M | β$106M | β$188M | β$214M | β$376M | β$407M |
| Capital expenditure | $0.1M | $0.0M | $0.2M | $0.3M | $0.2M | $0.4M | $0.8M | $0.0M |
| Free cash flow | β$28.6M | β$53.4M | β$83.5M | β$106M | β$188M | β$215M | β$377M | β$407M |
| Depreciation and amortization | $0.0M | $0.0M | $0.1M | $0.1M | $0.2M | $0.2M | $0.4M | $0.4M |
| Stock-based compensation | $1.3M | $7.0M | $18.8M | $34.2M | $32.3M | $41.1M | $49.5M | $55.7M |
| Balance sheet | ||||||||
| Cash and short-term investments | $7.0M | $101M | $400M | $494M | $377M | $635M | $714M | $902M |
| Current assets | $12.6M | $109M | $409M | $513M | $404M | $666M | $768M | $949M |
| Current liabilities | $0.3M | $15.3M | $18.8M | $44.5M | $43.3M | $48.6M | $68.8M | $104M |
| Property and equipment, net | $0.1M | $0.1M | $0.2M | $0.3M | $0.3M | $0.5M | $0.8M | $0.4M |
| Total assets | $13.8M | $109M | $412M | $516M | $406M | $666M | $776M | $957M |
| Total liabilities | $6.5M | $15.3M | $21.0M | $45.7M | $43.3M | $48.6M | $68.8M | $104M |
| Shareholders' equity | $7.3M | $94.1M | $391M | $470M | $362M | $618M | $707M | $853M |
| Margins | ||||||||
| Net margin | β | β | β | β | β2,783.8% | β1,039.5% | β | β |
| FCF margin | β | β | β | β | β2,486.0% | β860.1% | β | β |
| Net interest share of revenue | β | β | β | β | 100.0% | 100.0% | β | β |
| Returns | ||||||||
| Return on equity | β389.7% | β130.9% | β44.3% | β36.4% | β50.7% | β52.9% | β62.5% | β64.8% |
| Return on assets | β206.8% | β107.8% | β41.2% | β33.8% | β45.8% | β48.4% | β57.4% | β58.3% |
| Return on tangible equity | β389.7% | β70.6% | β27.4% | β33.4% | β58.2% | β42.0% | β58.5% | β59.3% |
| Growth | ||||||||
| Revenue growth | β | β | β | β | β | 229.2% | β | β |
| Share count change | β | 94.8% | 103.1% | 25.0% | 12.2% | 12.2% | 9.8% | 20.4% |
| Financial health | ||||||||
| Current ratio | 41.9x | 7.1x | 21.8x | 11.5x | 9.3x | 13.7x | 11.2x | 9.1x |
| Quick ratio | 41.9x | 7.1x | 21.8x | 11.5x | 9.3x | 13.7x | 11.2x | 9.1x |
| Capital allocation | ||||||||
| Capex / revenue | β | β | β | β | 2.6% | 1.4% | β | β |
| Stock comp / revenue | β | β | β | β | 426.2% | 164.8% | β | β |
| Quality scores | ||||||||
| Piotroski F-score | β | β | β | β | 2.0 | 4.0 | β | β |
| Accruals ratio | β0.4% | β21.2% | β9.2% | β10.9% | β4.9% | β8.4% | β5.3% | β11.3% |
Source: SEC EDGAR XBRL filings (CIK 0001764013). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.