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ImmunityBio vs Agenus: IBRX and AGEN compared
ImmunityBio is the larger company: $48.8M of revenue in its latest quarter (Q3 2026) against $31.5M for Agenus (Q3 2026). ImmunityBio is growing faster (+52% against +4% a year earlier). Agenus is more profitable, with an operating margin of 36.2% against -159.7%.
Where the money goes: IBRX and AGEN
ImmunityBio (IBRX) · Q3 2026
ImmunityBio, Q3 2026: revenue $48.8M (+52% year over year), operating margin -159.7%, net loss $185M, operating cash flow −$75.3M. The chart follows the revenue to costs, profit and cash.
Agenus (AGEN) · Q3 2026
Agenus, Q3 2026: revenue $31.5M (+4% year over year), operating margin 36.2%, net earnings $1.5M, operating cash flow −$20.1M. The chart follows the revenue to costs, profit and cash.
| ImmunityBio (IBRX) | Agenus (AGEN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $48.8M | $31.5M |
| Revenue growth, Y/Y | +52% | +4% |
| Operating margin | -159.7% | 36.2% |
| Net earnings | −$185M | $1.5M |
| Net margin | -377.9% | 4.8% |
| Operating cash flow | −$75.3M | −$20.1M |
Where the revenue comes from
Agenus
- Non Cash Royalty Revenue Related to the Sale of Future Royalties: $25.4M (81%)
- Pre Commercial Product Revenue: $6.1M (19%)
Questions
Which is bigger, ImmunityBio or Agenus?
ImmunityBio is the larger company: $48.8M of revenue in its latest quarter (Q3 2026) against $31.5M for Agenus (Q3 2026).
Is ImmunityBio or Agenus growing faster?
ImmunityBio is growing faster (+52% against +4% a year earlier).
Which is more profitable, ImmunityBio or Agenus?
Agenus is more profitable, with an operating margin of 36.2% against -159.7%.
More: ImmunityBio earnings · how ImmunityBio makes money · Agenus earnings · how Agenus makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 9, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.