Filing Flows › ImmunityBio (IBRX) › Q3 2025
ImmunityBio (IBRX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
ImmunityBio (IBRX) reported revenue of $32.1M for the third quarter 2025 (Q3 2025), +425% from a year earlier and +21% from the quarter before. Operating margin was -173.5%, net loss $67.3M (209.8% of revenue).
ImmunityBio, Q3 2025: revenue $32.1M (+425% year over year), operating margin -173.5%, net loss $67.3M, operating cash flow −$68.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.1M | +21% | +425% |
| Operating profit | −$55.6M | — | — |
| Net earnings | −$67.3M | — | — |
| Operating cash flow | −$68.9M | — | — |
What changed
Revenue was $32.1M in Q3 2025, up 425% year over year and up 21% from the previous quarter. Product revenue, net was the largest line at 99% of revenue. Product revenue, net added $25.8M year over year (up 434%), 100% of the total change.
Operating costs exceeded revenue by $55.6M, an operating margin of -173.5%. Total costs grew 2% against revenue growth of 425%. The quarter ended with a net loss of $67.3M, narrower than the previous quarter's $92.6M loss.
Operating cash flow was −$68.9M. Non-cash charges added back $4.0M of depreciation and amortization and $8.9M of share-based compensation. Working capital and other items used $14.5M. Capital expenditures of $741K exceeded it, leaving free cash flow of −$69.6M.
Questions
What was ImmunityBio's revenue in the third quarter 2025?
ImmunityBio (IBRX) reported revenue of $32.1M for the third quarter 2025 (Q3 2025), +425% from a year earlier and +21% from the quarter before.
Was ImmunityBio profitable in the third quarter 2025?
Operating loss was $55.6M (-173.5% of revenue) and net loss $67.3M.
Source: ImmunityBio 10-Q on SEC EDGAR.