Filing Flows › ImmunityBio (IBRX) › Q2 2025
ImmunityBio (IBRX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
ImmunityBio (IBRX) reported revenue of $26.4M for the second quarter 2025 (Q2 2025), up 25-fold from a year earlier and +60% from the quarter before. Operating margin was -269.8%, net loss $92.6M (350.3% of revenue).
ImmunityBio, Q2 2025: revenue $26.4M (25× year over year), operating margin -269.8%, net loss $92.6M, operating cash flow −$79.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.4M | +60% | 25× |
| Operating profit | −$71.3M | — | — |
| Net earnings | −$92.6M | — | — |
| Operating cash flow | −$79.7M | — | — |
What changed
Revenue was $26.4M in Q2 2025, up 2424% year over year and up 60% from the previous quarter. Product revenue, net was the largest line at 100% of revenue. Product revenue, net added $25.4M year over year (up 2569%), 100% of the total change. Other revenues declined 93%.
Operating costs exceeded revenue by $71.3M, an operating margin of -269.8%. Total costs fell 3% while revenue rose 2424%. The quarter ended with a net loss of $92.6M, narrower than the previous quarter's $129.7M loss.
Operating cash flow was −$79.7M. Non-cash charges added back $3.9M of depreciation and amortization and $9.6M of share-based compensation. Capital expenditures of $1.1M exceeded it, leaving free cash flow of −$80.8M.
Questions
What was ImmunityBio's revenue in the second quarter 2025?
ImmunityBio (IBRX) reported revenue of $26.4M for the second quarter 2025 (Q2 2025), up 25-fold from a year earlier and +60% from the quarter before.
Was ImmunityBio profitable in the second quarter 2025?
Operating loss was $71.3M (-269.8% of revenue) and net loss $92.6M.
Source: ImmunityBio 10-Q on SEC EDGAR.