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ImmunityBio cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$70.0M in Q2 2026 · −$288M over twelve months

Operating cash flow−$66.5M
Capital spending−$3.5M
Free cash flow−$70.0M

Analysis

In Q2 2026, ImmunityBio generated −$66.5M of operating cash flow and spent $3.5M on capital projects, leaving free cash flow of −$70.0M. That is $10.8M more than in Q2 2025 (−$80.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$281M; the largest uses were operating cash flow ($281M), other investing ($270M), taxes on employees’ shares ($8.1M); besides operations, cash came from other financing ($430M), net borrowing (+) / repaid (−) ($75.0M); the cash balance fell by $61.2M.

Operating cash flow was −$66.5M against net income of −$230M. The largest differences: receivables −$10.2M, stock-based pay +$8.5M, depreciation & amortization +$4.4M.

Free cash flow

ImmunityBio: free cash flow by quarterImmunityBio: free cash flow by quarter−$102MQ3 2024−$87.3MQ4 2024−$87.0MQ1 2025−$80.8MQ2 2025−$69.6MQ3 2025−$71.3MQ4 2025−$77.1MQ1 2026−$70.0MQ2 2026
Operating cash flow less capital spending.
ImmunityBio: operating cash flow against capital spendingImmunityBio: operating cash flow against capital spendingOperating cash flowCapital spending−$98.8M$2.8MQ3 2024−$85.1M$2.1MQ4 2024−$85.9M$1.1MQ1 2025−$79.7M$1.1MQ2 2025−$68.9M$741KQ3 2025−$70.4M$903KQ4 2025−$75.4M$1.8MQ1 2026−$66.5M$3.5MQ2 2026
Latest (Q2 2026): Operating cash flow −$66.5M, Capital spending $3.5M.

Capital allocation, year by year

ImmunityBio: where the cash came from (up) and went (down), by fiscal yearImmunityBio: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$274MFY2021: Shares issued $170MFY2021: Asset sales $20.5MFY2021: Capital spending −$33.6M$190MFY2021FY2022: Operating cash flow −$338MFY2022: Net borrowing −$58KFY2022: Shares issued $60.5MFY2022: Capital spending −$78.2M$60.5MFY2022FY2023: Operating cash flow −$367MFY2023: Net borrowing $193MFY2023: Shares issued $294KFY2023: Capital spending −$30.6M$193MFY2023FY2024: Operating cash flow −$391MFY2024: Net borrowing $96.9MFY2024: Capital spending −$6.9MFY2024: Acquisitions −$1.0M$96.9MFY2024FY2025: Operating cash flow −$305MFY2025: Net borrowing $1.7MFY2025: Capital spending −$3.8M$1.7MFY2025
Over these 5 years operating cash flow totalled −$1.7B; the largest uses were operating cash flow ($1.7B) and capital spending ($153M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$357M
Debt$884K
Net cash$356M
Cash runway15 months

ImmunityBio is burning cash: its operations consume cash, a free cash flow of −$288M a year at the current rate against $357M of cash and investments: a runway of about 15 months before any new financing.

Where the cash came from and went

ImmunityBio: sources (+) and uses (−) of cash, Q2 2026ImmunityBio: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$130MOther investing−$104MOperating cash flow−$66.5MOther financing$45.7MCapital spending−$3.5MNet borrowing (+) / repaid (−)−$952KTaxes on employees’ shares−$319KExchange rates−$3K
ImmunityBio: sources (+) and uses (−) of cash, TTM to Q2 2026ImmunityBio: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$430MOperating cash flow−$281MOther investing−$270MNet borrowing (+) / repaid (−)$75.0MCash drawn (+) / kept (−)$61.2MTaxes on employees’ shares−$8.1MCapital spending−$6.9MExchange rates$68K

From profit to cash

ImmunityBio: net income to operating cash flow, Q2 2026ImmunityBio: net income to operating cash flow, Q2 2026Net income−$230MDepreciation & amortization$4.4MStock-based pay$8.5MGains on investments−$3.2MReceivables−$10.2MInventory$1.0MPayables−$247KOperating cash flow−$66.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$66.5M−$3.5M−$952K—$130M−$70.0M
Q1 2026−$75.4M−$1.8M$74.2M$971K−$117M−$77.1M
Q4 2025−$70.4M−$903K−$12K—−$28.1M−$71.3M
Q3 2025−$68.9M−$741K−$12K—$76.8M−$69.6M
Q2 2025−$79.7M−$1.1M−$4K—−$77.0M−$80.8M
Q1 2025−$85.9M−$1.1M—$220K$82.8M−$87.0M
Q4 2024−$85.1M−$2.1M——−$31.6M−$87.3M
Q3 2024−$98.8M−$2.8M−$22K—$18.1M−$102M

ImmunityBio: income statement and cash flow

ImmunityBio, Q2 2026: revenue $51.2M (+94% year over year), operating margin -120.4%. The chart follows the revenue to costs, profit and cash.

ImmunityBio: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.