ImageneBio, Inc.
IMA Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2020–FY2025
Last close · Oct 23, 2026
$4.22
4.3%
Revenue
Total sales reported in the income statement.
$0.8M
77.1%
vs prior year
Operating margin
Operating income as a share of revenue.
−6,056.4%
4,999.2 pts
Net income
Profit after all expenses, interest and tax.
−$45.3M
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$68.2M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$2.96 EPS (TTM)
What ImageneBio, Inc. does
No business description yet.
- Legal name
- ImageneBio, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 10, 2026
- Accession · CIK
- 0001193125-26-099434
0001835579
Revenue and margins
ImageneBio, Inc. had $0.8M of revenue in fiscal 2025, down 77.1% on the year before.
FY20
Revenue $9.2M
FY21
Revenue $31.0M
FY22
Revenue $15.6M
FY23
Revenue $9.2M
FY24
Revenue $3.5M
FY25
Revenue $0.8M
Q3 '23
Revenue $1.2M
Q4 '23
Revenue $0.7M
Q1 '24
Revenue —
Q2 '24
Revenue —
Q3 '24
Revenue $3.5M
Q4 '24
Revenue $0.0M
Q1 '25
Revenue $0.8M
Q2 '25
Revenue $0.0M
Q3 '25
Revenue $0.0M
Q4 '25
Revenue $0.0M
Q1 '26
Revenue —
Q2 '26
Revenue —
FY20
Gross —
Operating −484.2%
Net −481.4%
FCF −419.8%
FY21
Gross —
Operating −110.2%
Net −110.1%
FCF −200.1%
FY22
Gross —
Operating −454.0%
Net −440.3%
FCF −483.7%
FY23
Gross —
Operating −823.3%
Net −744.2%
FCF −875.1%
FY24
Gross —
Operating −1,057.1%
Net −1,044.8%
FCF —
FY25
Gross —
Operating −6,056.4%
Net −5,668.6%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating −1,645.8%
Net −1,463.5%
FCF −1,687.5%
Q4 '23
Gross —
Operating −3,324.4%
Net −2,957.4%
FCF −3,350.7%
Q1 '24
Gross —
Operating —
Net —
FCF —
Q2 '24
Gross —
Operating —
Net —
FCF —
Q3 '24
Gross —
Operating −58.2%
Net −90.9%
FCF —
Q4 '24
Gross —
Operating —
Net —
FCF —
Q1 '25
Gross —
Operating −749.4%
Net −759.6%
FCF —
Q2 '25
Gross —
Operating —
Net —
FCF —
Q3 '25
Gross —
Operating —
Net —
FCF —
Q4 '25
Gross —
Operating —
Net —
FCF —
Q1 '26
Gross —
Operating —
Net —
FCF —
Q2 '26
Gross —
Operating —
Net —
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income −$44.3M
FY21
Net income −$34.1M
FY22
Net income −$68.8M
FY23
Net income −$68.2M
FY24
Net income −$36.6M
FY25
Net income −$45.3M
Q3 '23
Net income −$17.3M
Q4 '23
Net income −$19.5M
Q1 '24
Net income −$22.3M
Q2 '24
Net income −$6.3M
Q3 '24
Net income −$3.2M
Q4 '24
Net income −$4.8M
Q1 '25
Net income −$6.1M
Q2 '25
Net income −$7.6M
Q3 '25
Net income −$24.8M
Q4 '25
Net income −$6.9M
Q1 '26
Net income −$10.6M
Q2 '26
Net income −$10.2M
FY20
Diluted EPS −$16.00
FY21
Diluted EPS −$1.22
FY22
Diluted EPS −$1.90
FY23
Diluted EPS −$1.63
FY24
Diluted EPS −$22.10
FY25
Diluted EPS −$9.64
Q3 '23
Diluted EPS −$0.40
Q4 '23
Diluted EPS −$0.40
Q1 '24
Diluted EPS −$0.33
Q2 '24
Diluted EPS −$0.28
Q3 '24
Diluted EPS −$2.58
Q4 '24
Diluted EPS −$18.91
Q1 '25
Diluted EPS −$3.80
Q2 '25
Diluted EPS −$4.46
Q3 '25
Diluted EPS −$2.91
Q4 '25
Diluted EPS $1.53
Q1 '26
Diluted EPS −$0.95
Q2 '26
Diluted EPS −$0.63
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital —
Return on equity —
Return on assets −26.3%
FY21
Return on capital —
Return on equity −63.9%
Return on assets −16.4%
FY22
Return on capital —
Return on equity −38.8%
Return on assets −32.7%
FY23
Return on capital —
Return on equity −653.5%
Return on assets −37.4%
FY24
Return on capital —
Return on equity —
Return on assets −35.2%
FY25
Return on capital —
Return on equity —
Return on assets −53.7%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY20
Free cash flow −$38.6M
FY21
Free cash flow −$62.0M
FY22
Free cash flow −$75.5M
FY23
Free cash flow −$80.2M
FY24
Free cash flow —
FY25
Free cash flow —
Q3 '23
Free cash flow −$20.0M
Q4 '23
Free cash flow −$22.1M
Q1 '24
Free cash flow —
Q2 '24
Free cash flow —
Q3 '24
Free cash flow —
Q4 '24
Free cash flow —
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow —
Q4 '25
Free cash flow —
Q1 '26
Free cash flow —
Q2 '26
Free cash flow —
FY20
Cash from operations −$37.8M
Capital spending $0.8M
FY21
Cash from operations −$60.3M
Capital spending $1.8M
FY22
Cash from operations −$74.1M
Capital spending $1.4M
FY23
Cash from operations −$79.7M
Capital spending $0.4M
FY24
Cash from operations −$21.3M
Capital spending —
FY25
Cash from operations −$47.8M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations −$20.0M
Capital spending $0.0M
Q4 '23
Cash from operations −$21.8M
Capital spending $0.3M
Q1 '24
Cash from operations −$18.3M
Capital spending —
Q2 '24
Cash from operations −$12.5M
Capital spending —
Q3 '24
Cash from operations $13.0M
Capital spending —
Q4 '24
Cash from operations −$3.5M
Capital spending —
Q1 '25
Cash from operations −$7.2M
Capital spending —
Q2 '25
Cash from operations −$11.9M
Capital spending —
Q3 '25
Cash from operations −$21.5M
Capital spending —
Q4 '25
Cash from operations −$7.2M
Capital spending —
Q1 '26
Cash from operations −$14.8M
Capital spending —
Q2 '26
Cash from operations −$9.1M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
ImageneBio, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks $0.7M
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks $0.0M
Q4 '23
Dividends —
Buybacks $0.0M
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.04B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.05B
FY25
Diluted shares —
Balance sheet
Cash, debt and the ratios that show how comfortably ImageneBio, Inc. can carry it.
FY20
Cash $162M
Debt —
FY21
Cash $232M
Debt —
FY22
Cash $157M
Debt —
FY23
Cash $175M
Debt —
FY24
Cash $12.1M
Debt $7.5M
FY25
Cash $135M
Debt $0.0M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $232M | $157M | $175M | $12.1M | $135M |
| Debt incl. finance leases | — | — | — | $7.5M | $0.0M |
| Debt / equity | — | — | — | — | 0.0x |
| Current ratio | 8.7x | 7.4x | 12.6x | 0.7x | 12.5x |
| Quick ratio | 8.7x | 7.4x | 12.6x | 0.7x | 12.5x |
| Total assets | $248M | $172M | $192M | $15.9M | $153M |
| Total liabilities | $40.0M | $25.3M | $22.3M | $17.4M | $19.8M |
| Shareholders' equity | $208M | $147M | −$126M | −$161M | $133M |
| Net debt (− = net cash) | — | — | — | −$4.6M | −$135M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | ✕ | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✕ | ✕ | ✕ | ✓ | ✕ |
| Debt fell relative to assets | — | — | — | — | — | ✓ |
| Current ratio rose | — | ✓ | ✕ | ✓ | ✕ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | — |
| Gross margin rose | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✕ | ✕ | ✓ | ✕ |
| F-score | — / 3 | 3 / 7 | 0 / 7 | 2 / 7 | 2 / 7 | 3 / 7 |
| Accruals ratio | −3.8% | 12.6% | 2.5% | 6.4% | −14.7% | 3.0% |
| Altman Z'' | −0.24 | 8.16 | 4.56 | −7.74 | −64.07 | 5.55 |
6 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $9.2M | $31.0M | $15.6M | $9.2M | $3.5M | $0.8M |
| Research and development | $44.8M | $47.1M | $64.3M | $59.7M | $32.1M | $28.5M |
| Operating income | −$44.5M | −$34.1M | −$70.9M | −$75.4M | −$37.0M | −$48.5M |
| Pretax income | — | — | −$68.8M | −$68.3M | −$36.6M | −$45.7M |
| Income tax | — | $0.0M | $0.0M | −$0.2M | $0.0M | −$0.4M |
| Net income | −$44.3M | −$34.1M | −$68.8M | −$68.2M | −$36.6M | −$45.3M |
| Net income to common | — | — | — | — | −$48.4M | −$52.4M |
| Diluted EPS | −$16.00 | −$1.22 | −$1.90 | −$1.63 | −$22.10 | −$9.64 |
| Diluted shares | 0.00B | 0.03B | 0.04B | 0.04B | 0.05B | — |
| Cash flow | ||||||
| Cash from operations | −$37.8M | −$60.3M | −$74.1M | −$79.7M | −$21.3M | −$47.8M |
| Capital expenditure | $0.8M | $1.8M | $1.4M | $0.4M | — | — |
| Free cash flow | −$38.6M | −$62.0M | −$75.5M | −$80.2M | — | — |
| Depreciation and amortization | $0.3M | $0.5M | $0.8M | $1.0M | $1.1M | $0.4M |
| Stock-based compensation | $1.8M | $5.2M | $7.5M | $7.6M | $0.0M | $15.4M |
| Share buybacks | — | — | — | $0.7M | — | — |
| Dividends and buybacks | — | — | — | $0.7M | — | — |
| Balance sheet | ||||||
| Cash and short-term investments | $162M | $232M | $157M | $175M | $12.1M | $135M |
| Total debt | — | — | — | — | $7.5M | $0.0M |
| Current assets | $166M | $237M | $160M | $179M | $12.5M | $140M |
| Current liabilities | $28.3M | $27.2M | $21.5M | $14.2M | $17.2M | $11.2M |
| Property and equipment, net | $1.4M | $2.4M | $3.2M | $2.3M | $0.0M | $0.0M |
| Total assets | $168M | $248M | $172M | $192M | $15.9M | $153M |
| Total liabilities | $63.5M | $40.0M | $25.3M | $22.3M | $17.4M | $19.8M |
| Preferred stock | — | — | — | — | — | $0.0M |
| Shareholders' equity | −$101M | $208M | $147M | −$126M | −$161M | $133M |
| Margins | ||||||
| Operating margin | −484.2% | −110.2% | −454.0% | −823.3% | −1,057.1% | −6,056.4% |
| EBITDA margin | −481.0% | −108.4% | −449.2% | −812.2% | −1,025.7% | −6,006.4% |
| Net margin | −481.4% | −110.1% | −440.3% | −744.2% | −1,044.8% | −5,668.6% |
| FCF margin | −419.8% | −200.1% | −483.7% | −875.1% | — | — |
| Returns | ||||||
| Return on capital employed | −31.8% | −15.5% | −47.0% | −42.4% | 2,874.9% | −34.2% |
| Return on equity | — | −63.9% | −38.8% | −653.5% | — | — |
| Return on assets | −26.3% | −16.4% | −32.7% | −37.4% | −35.2% | −53.7% |
| Return on tangible equity | — | −16.4% | −46.8% | — | — | −39.4% |
| Growth | ||||||
| Revenue growth | — | 237.0% | −49.6% | −41.3% | −61.8% | −77.1% |
| Share count change | — | 911.9% | 29.3% | 15.3% | 15.6% | — |
| Financial health | ||||||
| Debt / equity | — | — | — | — | — | 0.0x |
| Current ratio | 5.9x | 8.7x | 7.4x | 12.6x | 0.7x | 12.5x |
| Quick ratio | 5.9x | 8.7x | 7.4x | 12.6x | 0.7x | 12.5x |
| Capital allocation | ||||||
| Capex / revenue | 8.3% | 5.7% | 9.2% | 4.5% | — | — |
| Stock comp / revenue | 19.5% | 16.7% | 48.2% | 83.3% | 0.0% | 1,923.9% |
| Quality scores | ||||||
| Piotroski F-score | — | 3.0 | 0.0 | 2.0 | 2.0 | 3.0 |
| Altman Z'' | −0.2 | 8.2 | 4.6 | −7.7 | −64.1 | 5.6 |
| Accruals ratio | −3.8% | 12.6% | 2.5% | 6.4% | −14.7% | 3.0% |
Source: SEC EDGAR XBRL filings (CIK 0001835579). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.