IBRX Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2016βFY2025
ImmunityBio, Inc. had $113M of revenue in fiscal 2025, up 668.3% on the year before. Over five years, revenue changed +184.8% a year on average.
Last close Β· Oct 23, 2026
$8.22
1.1%Hi! I read ImmunityBio, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+668.3%
Yes. Sales grew 668.3% last year.
Does it make a profit?
β310.2%
No. It lost money last year.
Does profit turn into cash?
β272.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
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 ImmunityBio, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 3, 2026
Tuesday Β· in 8 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 4, 2026 | Q2 '26 | Before the market opens | 8-K β |
| Apr 9, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Jan 15, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 4, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 24, 2025 | Q2 '25 | Time not announced | 8-K β |
| Apr 15, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Mar 3, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 12, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· ImmunityBio, Inc. had $113M of revenue in fiscal 2025, up 668.3% on the year before. Over five years, revenue changed +184.8% a year on average. Its operating margin was β226.0%, up 2,108.2Β pts: of every 100 in sales, about β226 is left after running the business.
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).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· ImmunityBio, Inc. lost $351M in fiscal 2025.
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.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$309M in fiscal 2025, β272.6% 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.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
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).
Dividends and buybacks
Diluted shares outstanding (annual)
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?
KIRA Β· ImmunityBio, Inc. has $241M more cash than debt.
Cash, debt and the ratios that show how comfortably ImmunityBio, 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.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $317M | $107M | $266M | $150M | $243M |
| Debt incl. finance leases | β | β | β | $1.2M | $2.0M |
| Interest coverage | β22.2x | β5.5x | β2.8x | β3.0x | β4.2x |
| Current ratio | 0.9x | 0.3x | 5.0x | 3.4x | 5.1x |
| Quick ratio | 0.9x | 0.3x | 5.0x | 3.2x | 5.1x |
| Total assets | $469M | $362M | $504M | $383M | $502M |
| Total liabilities | $713M | $812M | $1.1B | $871M | $1.0B |
| Shareholders' equity | β$242M | β$447M | β$587M | β$489M | β$500M |
| Net debt (β = net cash) | β | β | β | β$149M | β$241M |
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.
Return on capital, equity and assets (annual)
KIRA Β· ImmunityBio, Inc. passes 4 of 9 financial health tests (Piotroski F-score).
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 3 / 7 | 3 / 7 | 2 / 7 | 2 / 7 | 1 / 7 | 3 / 8 | 3 / 8 | 4 / 9 |
| Accruals ratio | β25.9% | β16.8% | β15.2% | β3.5% | β27.5% | β21.0% | β19.0% | β49.9% | β5.0% | β10.5% |
| Altman Z'' | 10.17 | 1.04 | β7.81 | β14.75 | β29.57 | β19.21 | β35.01 | β21.46 | β33.14 | β24.85 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $0.0M | $0.0M | $0.0M | $2.2M | $0.6M | $0.9M | $0.2M | $0.6M | $14.7M | $113M |
| Gross profit | β | β | β | β | β | β | $0.2M | $0.6M | $14.7M | $113M |
| Research and development | $29.2M | $42.0M | $55.7M | $112M | $140M | $196M | $248M | $232M | $190M | β |
| Operating income | β$125M | β$99.1M | β$98.4M | β$156M | β$221M | β$330M | β$351M | β$362M | β$344M | β$256M |
| Interest expense | $0.1M | $0.6M | β | $5.9M | $9.1M | $14.8M | $63.5M | $129M | $115M | $60.9M |
| Pretax income | β$121M | β$96.9M | β$96.7M | β$160M | β$226M | β$350M | β$417M | β$584M | β$414M | β$352M |
| Income tax | β$0.6M | β$0.5M | β$0.5M | β$0.1M | β$1.8M | $0.0M | $0.0M | β$0.0M | $0.0M | β$0.1M |
| Net income | β$121M | β$96.4M | β$96.2M | β$158M | β$222M | β$347M | β$417M | β$583M | β$414M | β$351M |
| Net income to common | β | β | β | β | β | β | β$417M | β$583M | β$414M | β$351M |
| Diluted EPS | β$1.47 | β$1.20 | β$1.22 | β$0.43 | β$0.59 | β$0.89 | β$1.04 | β$1.15 | β$0.62 | β$0.38 |
| Diluted shares | 0.08B | 0.08B | 0.08B | 0.37B | 0.38B | 0.39B | 0.40B | 0.51B | 0.70B | 0.92B |
| Cash flow | ||||||||||
| Cash from operations | β$38.6M | β$48.8M | β$63.4M | β$152M | β$172M | β$274M | β$338M | β$367M | β$391M | β$305M |
| Capital expenditure | $6.6M | $34.8M | $13.1M | $4.3M | $1.7M | $33.6M | $78.2M | $30.6M | $6.9M | $3.8M |
| Free cash flow | β$45.2M | β$83.6M | β$76.5M | β$156M | β$173M | β$308M | β$416M | β$397M | β$398M | β$309M |
| Depreciation and amortization | $3.6M | $5.6M | $9.6M | $14.0M | $12.7M | $14.2M | $18.3M | $18.5M | $17.6M | $15.5M |
| Stock-based compensation | $73.9M | $37.0M | $23.4M | $3.4M | $2.2M | $57.2M | $40.2M | $49.2M | $34.4M | $36.8M |
| Acquisitions | $0.0M | $0.0M | β | β | β | β | β | β | β | β |
| Share buybacks | $15.8M | $15.2M | $0.2M | $2.5M | $0.0M | $0.0M | β | β | β | β |
| Dividends and buybacks | $15.8M | $15.2M | $0.2M | $2.5M | $0.0M | $0.0M | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $199M | $128M | $74.1M | $112M | $96.1M | $317M | $107M | $266M | $150M | $243M |
| Total debt | β | β | β | β | β | β | β | β | $1.2M | $1.8M |
| Finance lease liabilities | β | β | β | β | β | β | $0.1M | $0.1M | β | $0.3M |
| Current assets | $205M | $132M | $88.8M | $55.8M | $112M | $334M | $141M | $294M | $185M | $315M |
| Current liabilities | $12.6M | $20.9M | $27.3M | $11.6M | $68.1M | $369M | $501M | $58.3M | $54.9M | $61.8M |
| Inventory | β | β | β | β | β | β | β | $0.0M | $8.3M | $0.9M |
| Property and equipment, net | $18.9M | $76.7M | $76.9M | $60.5M | $72.5M | $82.9M | $144M | $146M | $137M | $114M |
| Goodwill | β | β | β | β | β | β | β | β | $0.9M | $0.9M |
| Intangible assets | $5.1M | $2.8M | $0.6M | $0.0M | $1.5M | $1.4M | $20.0M | $17.1M | $14.5M | $13.0M |
| Total assets | $317M | $250M | $182M | $143M | $221M | $469M | $362M | $504M | $383M | $502M |
| Total liabilities | $24.1M | $31.6M | $35.9M | $22.4M | $340M | $713M | $812M | $1.1B | $871M | $1.0B |
| Shareholders' equity | $293M | $219M | $146M | $121M | β$120M | β$242M | β$447M | β$587M | β$489M | β$500M |
| Margins | ||||||||||
| Gross margin | β | β | β | β | β | β | 100.0% | 100.0% | 100.0% | 99.3% |
| Operating margin | β282,954.5% | β220,266.7% | β209,338.3% | β7,095.9% | β36,509.1% | β35,361.9% | β146,374.2% | β58,239.5% | β2,334.2% | β226.0% |
| EBITDA margin | β274,756.8% | β207,897.8% | β189,008.5% | β6,458.2% | β34,403.5% | β33,837.5% | β138,765.8% | β55,263.3% | β2,215.2% | β212.3% |
| Net margin | β274,565.9% | β214,273.3% | β204,736.2% | β7,165.2% | β36,669.6% | β37,129.6% | β173,569.6% | β93,761.4% | β2,804.8% | β310.2% |
| FCF margin | β102,620.5% | β185,766.7% | β162,729.8% | β7,102.5% | β28,660.0% | β32,974.5% | β173,196.3% | β63,881.2% | β2,700.1% | β272.6% |
| Returns | ||||||||||
| Return on capital employed | β40.8% | β43.2% | β63.6% | β118.8% | β144.1% | β330.6% | 253.6% | β81.2% | β104.9% | β58.2% |
| Return on equity | β41.2% | β37.6% | β52.7% | β118.3% | β50,941.7% | β | β | β | β | β |
| Return on assets | β38.1% | β34.0% | β44.5% | β97.1% | β121.7% | β100.5% | β100.2% | β134.6% | β93.2% | β79.4% |
| Return on tangible equity | β41.9% | β44.6% | β66.2% | β130.7% | β | β | β | β | β | β |
| Growth | ||||||||||
| Revenue growth | β | 2.3% | 4.4% | 4,585.1% | β72.5% | 54.4% | β74.3% | 159.2% | 2,270.6% | 668.3% |
| Share count change | β | β1.7% | β1.8% | 362.9% | 2.9% | 3.2% | 2.7% | 27.2% | 37.7% | 31.3% |
| Financial health | ||||||||||
| Interest coverage | β1,886.4x | β160.4x | β | β26.4x | β24.3x | β22.2x | β5.5x | β2.8x | β3.0x | β4.2x |
| Current ratio | 16.3x | 6.3x | 3.3x | 4.8x | 1.6x | 0.9x | 0.3x | 5.0x | 3.4x | 5.1x |
| Quick ratio | 16.3x | 6.3x | 3.3x | 4.8x | 1.6x | 0.9x | 0.3x | 5.0x | 3.2x | 5.1x |
| Capital allocation | ||||||||||
| Capex / revenue | 14,909.1% | 77,366.7% | 27,876.6% | 194.7% | 275.9% | 3,593.5% | 32,567.5% | 4,917.0% | 46.7% | 3.4% |
| Stock comp / revenue | 167,845.5% | 82,215.6% | 49,748.9% | 155.4% | 361.5% | 6,122.2% | 16,741.3% | 7,904.0% | 233.5% | 32.5% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 3.0 | 3.0 | 2.0 | 2.0 | 1.0 | 3.0 | 3.0 | 4.0 |
| Altman Z'' | 10.2 | 1.0 | β7.8 | β14.7 | β29.6 | β19.2 | β35.0 | β21.5 | β33.1 | β24.9 |
| Accruals ratio | β25.9% | β16.8% | β15.2% | β3.5% | β27.5% | β21.0% | β19.0% | β49.9% | β5.0% | β10.5% |
Source: SEC EDGAR XBRL filings (CIK 0001326110). 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.
