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Immuneering (IMRX) Financials

Immuneering logo
$5.53 +0.43 (+8.43%)
Closing price 07/8/2026 04:00 PM Eastern
Extended Trading
$5.60 +0.06 (+1.18%)
As of 05:18 AM Eastern
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Annual Income Statements for Immuneering

Annual Income Statements for Immuneering

This table shows Immuneering's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -17 -34 -51 -53 -61 -56
Consolidated Net Income / (Loss)		 -17 -34 -51 -53 -61 -56
Net Income / (Loss) Continuing Operations		 -17 -34 -51 -53 -61 -56
Total Pre-Tax Income 		-17 -34 -51 -55 -61 -56
Total Operating Income		 -17 -34 -52 -58 -64 -59
Total Gross Profit		 1.03 0.93 0.16 0.00 0.00 0.00
Total Revenue		 2.31 2.08 0.32 0.00 0.00 0.00
Total Cost of Revenue		 1.28 1.15 0.16 0.00 0.00 0.00
Total Operating Expenses		 18 35 52 58 64 59
Selling, General & Admin Expense		 3.11 8.27 16 17 16 17
Research & Development Expense		 15 27 36 42 48 42
Amortization Expense		 - 0.00 0.03 0.03 0.03 0.03
Total Other Income / (Expense), net		 0.04 0.04 1.23 3.61 2.59 3.04
Interest & Investment Income		 0.04 0.17 1.01 3.61 2.59 3.04
Other Gains / (Losses), net		 - - - 1.33 0.44 0.31
Basic Earnings per Share		 ($3.44) ($2.46) ($1.91) ($1.88) ($2.04) ($1.27)
Weighted Average Basic Shares Outstanding		 4.95M 13.61M 26.39M 28.42M 29.98M 44.01M
Diluted Earnings per Share		 ($3.44) ($2.46) ($1.91) ($1.88) ($2.04) ($1.27)
Weighted Average Diluted Shares Outstanding		 4.95M 13.61M 26.39M 28.42M 29.98M 44.01M
Weighted Average Basic & Diluted Shares Outstanding		 - 26.38M 26.44M 29.28M 35.89M 64.65M

Quarterly Income Statements for Immuneering

This table shows Immuneering's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -13 -15 -14 -14 -15 -18 -15 -14 -15 -12 -13
Consolidated Net Income / (Loss)		 -13 -15 -14 -14 -15 -18 -15 -14 -15 -12 -13
Net Income / (Loss) Continuing Operations		 -13 -15 -14 -14 -15 -18 -15 -14 -15 -12 -13
Total Pre-Tax Income 		-13 -16 -15 -14 -15 -18 -15 -14 -15 -12 -14
Total Operating Income		 -14 -16 -15 -15 -15 -19 -15 -15 -15 -14 -15
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 14 16 15 15 15 19 15 15 15 14 15
Selling, General & Admin Expense		 3.87 4.38 4.12 4.25 4.01 3.69 4.01 4.30 4.51 4.49 4.68
Research & Development Expense		 10 12 11 11 11 15 11 10 11 9.25 11
Amortization Expense		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Total Other Income / (Expense), net		 1.33 -0.12 0.80 0.83 0.68 0.72 0.44 0.32 0.42 1.86 1.36
Interest & Investment Income		 0.86 0.75 0.80 0.83 0.55 0.42 0.44 0.32 0.42 1.86 1.36
Other Gains / (Losses), net		 - - 0.21 - - - 0.00 - - - 0.51
Basic Earnings per Share		 ($0.43) ($0.51) ($0.49) ($0.47) ($0.49) ($0.59) ($0.42) ($0.40) ($0.38) ($0.07) ($0.21)
Weighted Average Basic Shares Outstanding		 29.27M 28.42M 29.37M 29.65M 29.84M 29.98M 35.53M 35.99M 39.67M 44.01M 64.66M
Diluted Earnings per Share		 ($0.43) ($0.51) ($0.49) ($0.47) ($0.49) ($0.59) ($0.42) ($0.40) ($0.38) ($0.07) ($0.21)
Weighted Average Diluted Shares Outstanding		 29.27M 28.42M 29.37M 29.65M 29.84M 29.98M 35.53M 35.99M 39.67M 44.01M 64.66M
Weighted Average Basic & Diluted Shares Outstanding		 29.27M 29.28M 29.65M 29.65M 31.05M 35.89M 35.99M 36.32M 64.57M 64.65M 64.70M

Annual Cash Flow Statements for Immuneering

This table details how cash moves in and out of Immuneering's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 23 38 -2.25 -13 -23 93
Net Cash From Operating Activities		 -15 -31 -44 -49 -55 -45
Net Cash From Continuing Operating Activities		 -15 -31 -44 -49 -55 -45
Net Income / (Loss) Continuing Operations		 -17 -34 -51 -53 -61 -56
Consolidated Net Income / (Loss)		 -17 -34 -51 -53 -61 -56
Depreciation Expense		 0.02 0.05 0.25 0.32 0.36 0.32
Amortization Expense		 0.05 0.24 -0.14 -0.58 -0.23 -0.13
Non-Cash Adjustments To Reconcile Net Income		 1.09 1.80 4.59 5.73 6.84 6.32
Changes in Operating Assets and Liabilities, net		 1.25 0.59 1.72 -0.97 -0.93 4.16
Net Cash From Investing Activities		 -0.05 -76 42 7.30 26 -89
Net Cash From Continuing Investing Activities		 -0.05 -76 42 7.30 26 -89
Purchase of Property, Plant & Equipment		 -0.05 -0.06 -0.74 -0.34 -0.08 -0.14
Purchase of Investments		 0.00 -76 -50 -45 -5.41 -89
Sale and/or Maturity of Investments		 - 0.00 93 52 32 0.00
Net Cash From Financing Activities		 38 144 0.02 28 5.30 227
Net Cash From Continuing Financing Activities		 38 144 0.02 28 5.30 227
Repurchase of Common Equity		 0.00 0.00 -0.28 -0.20 -0.04 -3.73
Issuance of Common Equity		 0.00 120 0.00 28 4.61 230
Other Financing Activities, net		 0.00 -0.84 0.30 0.44 0.73 0.37

Quarterly Cash Flow Statements for Immuneering

This table details how cash moves in and out of Immuneering's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -36 -8.63 6.88 -6.56 -15 -9.06 -0.28 -9.51 201 -99 -81
Net Cash From Operating Activities		 -12 -12 -15 -12 -13 -15 -14 -9.45 -12 -9.84 -18
Net Cash From Continuing Operating Activities		 -12 -12 -15 -12 -14 -15 -14 -9.45 -12 -9.84 -18
Net Income / (Loss) Continuing Operations		 -13 -15 -14 -14 -15 -18 -15 -14 -15 -12 -13
Consolidated Net Income / (Loss)		 -13 -15 -14 -14 -15 -18 -15 -14 -15 -12 -13
Depreciation Expense		 0.08 0.09 0.09 0.09 0.09 0.09 0.09 0.08 0.08 0.08 0.08
Amortization Expense		 -0.30 0.02 -0.15 -0.00 -0.03 -0.05 0.01 0.01 0.01 -0.15 -0.40
Non-Cash Adjustments To Reconcile Net Income		 1.79 1.32 1.56 1.59 1.40 2.03 1.70 1.61 1.30 1.64 1.73
Changes in Operating Assets and Liabilities, net		 -0.99 1.88 -2.68 0.88 -0.59 1.47 -0.82 3.29 1.60 0.17 -6.38
Net Cash From Investing Activities		 -24 3.13 21 4.97 -5.42 5.49 -0.01 -0.00 -0.01 -89 -63
Net Cash From Continuing Investing Activities		 -24 3.13 21 4.97 -5.42 5.49 -0.01 -0.00 -0.01 -89 -63
Purchase of Property, Plant & Equipment		 -0.06 -0.17 -0.04 -0.03 -0.01 -0.01 -0.01 -0.00 -0.01 -0.12 -0.08
Purchase of Investments		 - -16 - - - - 0.00 - - -89 -72
Sale and/or Maturity of Investments		 5.00 19 21 5.00 - 5.50 0.00 - - - 9.00
Net Cash From Financing Activities		 0.02 0.01 0.98 - 4.36 -0.04 14 -0.06 213 -0.36 0.18
Net Cash From Continuing Financing Activities		 0.02 0.01 0.98 - 4.36 -0.04 14 -0.06 213 -0.36 0.18
Issuance of Common Equity		 - - 0.25 - 4.36 - 14 - 216 - 0.17
Other Financing Activities, net		 0.02 0.01 0.73 - - - 0.00 0.00 0.14 0.23 0.01

Annual Balance Sheets for Immuneering

This table presents Immuneering's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 38 167 122 103 53 232
Total Current Assets		 38 152 109 89 40 176
Cash & Equivalents		 37 75 73 59 36 129
Short-Term Investments		 0.00 74 33 26 0.00 44
Prepaid Expenses		 0.14 2.89 3.21 3.42 3.44 3.41
Plant, Property, & Equipment, net		 0.06 0.81 1.37 1.40 1.12 0.94
Total Noncurrent Assets		 0.63 14 12 12 12 55
Long-Term Investments		 0.00 1.00 - - 0.00 44
Goodwill		 - 6.70 6.69 6.69 6.69 6.69
Intangible Assets		 - 0.44 0.41 0.38 0.35 0.32
Other Noncurrent Operating Assets		 0.63 5.43 5.15 5.03 4.96 3.61
Total Liabilities & Shareholders' Equity		 38 167 122 103 53 232
Total Liabilities		 2.80 11 13 12 11 14
Total Current Liabilities		 2.26 5.63 8.05 7.85 7.50 10
Accounts Payable		 1.48 1.39 3.15 2.11 1.96 1.54
Accrued Expenses		 0.70 3.97 4.50 5.17 4.97 7.84
Other Current Liabilities		 0.08 0.27 0.40 0.56 0.57 0.69
Total Noncurrent Liabilities		 0.54 5.09 4.46 4.16 3.82 3.43
Other Noncurrent Operating Liabilities		 0.54 5.09 4.46 4.16 3.82 3.43
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -22 156 110 91 41 218
Total Preferred & Common Equity		 -22 156 110 91 41 218
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -22 156 110 91 41 218
Common Stock		 3.26 215 220 254 266 499
Retained Earnings		 -26 -59 -110 -163 -224 -280
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.05 -0.03 -0.00 0.00 0.08

Quarterly Balance Sheets for Immuneering

This table presents Immuneering's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 114 88 77 69 51 40 241 215
Total Current Assets		 101 74 64 55 38 28 229 161
Cash & Equivalents		 68 66 60 45 36 26 228 47
Short-Term Investments		 29 4.99 0.00 5.45 - - - 109
Prepaid Expenses		 3.34 3.17 3.96 4.60 2.34 1.37 1.54 4.72
Plant, Property, & Equipment, net		 1.39 1.35 1.29 1.21 1.05 0.96 0.89 0.94
Total Noncurrent Assets		 12 12 12 12 11 11 11 52
Long-Term Investments		 - - - - - - - 42
Goodwill		 6.69 6.69 6.69 6.69 6.69 6.69 6.69 6.69
Intangible Assets		 0.39 0.37 0.37 0.36 0.34 0.34 0.33 0.31
Other Noncurrent Operating Assets		 4.83 5.12 5.06 5.04 4.40 4.34 4.04 3.51
Total Liabilities & Shareholders' Equity		 114 88 77 69 51 40 241 215
Total Liabilities		 9.86 9.26 11 11 8.84 11 13 8.29
Total Current Liabilities		 5.62 5.18 6.78 6.92 5.11 7.49 9.55 4.97
Accounts Payable		 1.94 2.27 2.62 1.94 1.31 2.40 1.60 1.45
Accrued Expenses		 3.30 2.58 3.76 4.59 3.39 4.51 7.48 3.06
Other Current Liabilities		 0.38 0.32 0.40 0.38 0.41 0.58 0.46 0.46
Total Noncurrent Liabilities		 4.24 4.08 4.00 3.92 3.73 3.63 3.53 3.32
Other Noncurrent Operating Liabilities		 4.24 4.08 4.00 3.92 3.73 3.63 3.53 3.32
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 104 79 66 58 42 29 228 207
Total Preferred & Common Equity		 104 79 66 58 42 29 228 207
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 104 79 66 58 42 29 228 207
Common Stock		 252 256 258 264 281 283 497 501
Retained Earnings		 -148 -178 -192 -206 -239 -254 -269 -294
Accumulated Other Comprehensive Income / (Loss)		 0.01 -0.00 0.00 0.01 - - - -0.24

Annual Metrics And Ratios for Immuneering

This table displays calculated financial ratios and metrics derived from Immuneering's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 25,940,564.00 26,404,732.00 29,269,121.00 - 64,569,967.00
DEI Adjusted Shares Outstanding		 0.00 25,940,564.00 26,404,732.00 29,269,121.00 - 64,569,967.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1.29 -1.91 -1.83 - -0.87
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% -10.02% -84.76% -100.00% 0.00% 0.00%
EBITDA Growth		 0.00% -98.34% -52.48% -14.09% -8.25% 7.46%
EBIT Growth		 0.00% -99.11% -51.49% -13.36% -8.93% 7.33%
NOPAT Growth		 0.00% -98.37% -52.70% -12.89% -9.69% 7.33%
Net Income Growth		 0.00% -96.81% -50.63% -5.86% -14.15% 8.21%
EPS Growth		 0.00% 28.49% 22.36% 1.57% -8.51% 37.75%
Operating Cash Flow Growth		 0.00% -111.01% -42.95% -11.04% -12.32% 17.55%
Free Cash Flow Firm Growth		 0.00% 0.00% -12.24% -19.31% -8.94% 16.36%
Invested Capital Growth		 0.00% 494.09% -25.22% 13.53% 6.74% -71.96%
Revenue Q/Q Growth		 0.00% 0.00% -37.37% -100.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -6.11% -3.67% -2.37% 7.35%
EBIT Q/Q Growth		 0.00% 0.00% -5.43% -4.13% -2.94% 7.49%
NOPAT Q/Q Growth		 0.00% 0.00% -5.87% -4.13% -3.65% 7.49%
Net Income Q/Q Growth		 0.00% 0.00% -5.12% -3.56% -5.11% 10.36%
EPS Q/Q Growth		 0.00% 0.00% -253.70% -1.08% -4.08% 29.05%
Operating Cash Flow Q/Q Growth		 0.00% -13.99% -6.03% -0.05% -5.23% 9.34%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -0.31% -3.72% 1.27%
Invested Capital Q/Q Growth		 0.00% 0.00% -7.89% -27.52% -25.79% 255.51%
Profitability Metrics		 - - - - - -
Gross Margin		 44.61% 44.56% 50.11% 0.00% 0.00% 0.00%
EBITDA Margin		 -735.58% -1,621.37% -16,223.96% 0.00% 0.00% 0.00%
Operating Margin		 -739.01% -1,629.17% -16,325.77% 0.00% 0.00% 0.00%
EBIT Margin		 -739.01% -1,635.28% -16,257.36% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 -737.17% -1,612.33% -15,937.29% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 99.09% 100.00% 97.57% 100.00% 99.45%
Interest Burden Percent		 99.75% 99.50% 98.03% 93.83% 95.92% 94.88%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -1,099.06% -716.57% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -1,088.58% -705.40% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1,064.06% 678.57% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -47.83% -35.01% -38.00% -53.36% -92.51% -43.12%
Cash Return on Invested Capital (CROIC)		 0.00% -535.46% -687.71% -898.11% -890.09% -1,126.24%
Operating Return on Assets (OROA)		 -44.46% -33.16% -35.65% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 -44.35% -32.70% -34.95% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 30.19% -24.39% -38.00% -53.36% -92.51% -43.12%
Return on Equity Simple (ROE_SIMPLE)		 75.80% -21.50% -45.98% -59.04% -147.48% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -24 -36 -41 -45 -42
NOPAT Margin		 -517.31% -1,140.42% -11,428.04% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -13.70% -10.48% -11.18% -13.16% -26.58% -11.43%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -45.14% -108.37% -19.02%
Cost of Revenue to Revenue		 55.39% 55.44% 49.89% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 134.54% 397.70% 4,923.94% 0.00% 0.00% 0.00%
R&D to Revenue		 649.08% 1,276.03% 11,442.46% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 783.62% 1,673.73% 16,375.89% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -17 -34 -52 -58 -64 -59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -17 -34 -51 -59 -64 -59
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 2.69 1.17 2.38 1.65 1.94
Price to Tangible Book Value (P/TBV)		 0.00 2.82 1.25 2.58 1.99 2.01
Price to Revenue (P/Rev)		 45.42 201.67 404.05 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 46.55 5.21 26.36 6.14 141.45
Enterprise Value to Revenue (EV/Rev)		 54.52 129.46 71.11 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.04 -0.98 -0.96 -0.95 -0.92 -0.97
Leverage Ratio		 1.08 1.07 1.09 1.12 1.18 1.10
Compound Leverage Factor		 1.08 1.07 1.07 1.05 1.13 1.04
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 163.11% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -63.11% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 21.26 23.36 4.48 7.59 -5.59 17.20
Noncontrolling Interest Sharing Ratio		 163.11% 30.33% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 16.73 27.04 13.50 11.35 5.28 17.50
Quick Ratio		 16.66 26.53 13.10 10.92 4.82 17.16
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -31 -35 -41 -45 -38
Operating Cash Flow to CapEx		 -27,372.13% -50,753.27% -5,939.70% -14,287.15% -64,800.67% -31,882.07%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.06 0.02 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 4.62 5.58 2.45 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 35.91 4.77 0.29 0.00 0.00 0.00
Accounts Payable Turnover		 0.86 0.80 0.07 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 78.97 65.47 148.82 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 422.08 455.01 5,250.21 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -343.11 -389.55 -5,101.39 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -1.47 5.78 4.33 4.91 5.24 1.47
Invested Capital Turnover		 -1.57 0.96 0.06 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 7.25 -1.46 0.59 0.33 -3.77
Enterprise Value (EV)		 126 269 23 129 32 208
Market Capitalization		 105 419 128 215 68 425
Book Value per Share		 ($4.54) $6.01 $4.16 $3.09 $1.33 $3.38
Tangible Book Value per Share		 ($4.54) $5.74 $3.89 $2.85 $1.11 $3.28
Total Capital		 36 156 110 91 41 218
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -37 -150 -106 -86 -36 -217
Capital Expenditures (CapEx)		 0.05 0.06 0.74 0.34 0.08 0.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.61 -2.50 -4.83 -4.43 -4.06 -6.66
Debt-free Net Working Capital (DFNWC)		 35 147 101 81 32 166
Net Working Capital (NWC)		 35 147 101 81 32 166
Net Nonoperating Expense (NNE)		 5.08 9.82 14 13 16 14
Net Nonoperating Obligations (NNO)		 -37 -150 -106 -86 -36 -217
Total Depreciation and Amortization (D&A)		 0.08 0.29 0.11 -0.25 0.13 0.20
Debt-free, Cash-free Net Working Capital to Revenue		 -69.86% -120.16% -1,524.56% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 1,534.71% 7,053.03% 31,769.08% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 1,534.71% 7,053.03% 31,769.08% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.46) ($1.91) ($1.88) ($2.04) ($1.27)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 13.61M 26.39M 28.42M 29.98M 44.01M
Adjusted Diluted Earnings per Share		 $0.00 ($2.46) ($1.90) ($1.88) ($2.04) ($1.27)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 13.61M 26.39M 28.42M 29.98M 44.01M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 26.38M 26.44M 29.28M 35.89M 64.65M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -24 -36 -41 -45 -42
Normalized NOPAT Margin		 -517.31% -1,140.42% -11,428.04% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 -737.17% -1,627.11% -15,937.29% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -0.56% -0.38% -0.07% -6.65%

Quarterly Metrics And Ratios for Immuneering

This table displays calculated financial ratios and metrics derived from Immuneering's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 29,264,015.00 29,269,121.00 29,283,272.00 29,653,355.00 29,653,355.00 - 35,887,252.00 35,985,702.00 36,318,877.00 64,569,967.00 64,652,926.00
DEI Adjusted Shares Outstanding		 29,264,015.00 29,269,121.00 29,283,272.00 29,653,355.00 29,653,355.00 - 35,887,252.00 35,985,702.00 36,318,877.00 64,569,967.00 64,652,926.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.43 -0.52 -0.49 -0.47 -0.49 - -0.42 -0.40 -0.41 -0.18 -0.21
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -4.50% -14.70% -5.86% -10.70% -10.27% -14.35% -0.01% 1.01% -1.41% 25.35% -1.68%
EBIT Growth		 -2.93% -16.57% -6.17% -11.62% -12.59% -13.84% -1.04% 0.99% -1.56% 25.89% 0.97%
NOPAT Growth		 -5.60% -16.57% -4.40% -10.43% -9.68% -13.84% -1.04% 1.05% -0.70% 25.89% 0.97%
Net Income Growth		 1.94% -13.88% -5.17% -15.52% -15.90% -19.68% -5.16% -2.51% -2.52% 35.85% 10.54%
EPS Growth		 12.24% -4.08% 3.92% -9.30% -13.95% -15.69% 14.29% 14.89% 22.45% 88.14% 50.00%
Operating Cash Flow Growth		 -13.22% -0.23% -7.44% -7.23% -12.02% -23.23% 9.11% 18.04% 11.10% 32.18% -30.91%
Free Cash Flow Firm Growth		 22.24% -44.00% -16.34% -8.12% 7.17% -11.05% 21.37% 41.88% 62.51% 56.05% -34.77%
Invested Capital Growth		 44.28% 13.53% 19.04% 7.49% 4.25% 6.74% -19.71% -60.77% -94.15% -71.96% 31.73%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -2.19% -18.42% 4.98% 3.73% -1.80% -21.44% 16.89% 4.72% -4.29% 9.61% -13.21%
EBIT Q/Q Growth		 -0.72% -21.20% 5.99% 2.74% -1.60% -22.54% 16.56% 4.69% -4.22% 10.58% -11.51%
NOPAT Q/Q Growth		 -3.12% -17.06% 5.99% 2.69% -2.41% -21.50% 16.56% 4.69% -4.22% 10.58% -11.51%
Net Income Q/Q Growth		 -3.33% -19.76% 5.14% 1.59% -3.68% -23.66% 16.65% 4.07% -3.68% 22.62% -16.24%
EPS Q/Q Growth		 0.00% -18.60% 3.92% 4.08% -4.26% -20.41% 28.81% 4.76% 5.00% 81.58% -200.00%
Operating Cash Flow Q/Q Growth		 -11.89% 2.09% -31.56% 25.60% -16.88% -7.71% 2.96% 32.91% -26.80% 17.84% -87.32%
Free Cash Flow Firm Q/Q Growth		 -17.35% -1.43% 0.65% 8.57% -0.75% -21.33% 29.65% 32.42% 35.00% -42.22% -115.74%
Invested Capital Q/Q Growth		 10.72% -27.52% 51.60% -11.65% 7.39% -25.79% 14.04% -56.83% -83.98% 255.51% 435.81%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 91.87% 98.53% 100.00% 100.00% 101.19% 100.00% 100.00% 100.00% 97.38% 96.32%
Interest Burden Percent		 93.64% 100.71% 94.75% 94.46% 96.39% 96.12% 97.17% 97.80% 97.30% 86.47% 91.13%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -53.36% -61.38% -61.81% -71.81% -92.51% -102.48% -130.47% -43.75% -43.12% -43.84%
Cash Return on Invested Capital (CROIC)		 -720.88% -898.11% -620.99% -673.99% -629.54% -890.09% -648.12% -892.26% -1,023.94% -1,126.24% -626.02%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.00% -53.36% -61.38% -61.81% -71.81% -92.51% -102.48% -130.47% -43.75% -43.12% -43.84%
Return on Equity Simple (ROE_SIMPLE)		 -49.64% 0.00% -68.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.75 -11 -11 -10 -11 -13 -11 -10 -11 -9.63 -11
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -2.66% -3.84% -4.40% -4.32% -5.28% -8.31% -7.85% -9.53% -3.02% -1.54% -2.33%
Return On Investment Capital (ROIC_SIMPLE)		 - -12.60% -13.63% -15.74% -18.52% -31.39% -25.90% -35.70% -4.72% -4.41% -5.20%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -13 -16 -15 -15 -15 -19 -15 -15 -15 -14 -15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -16 -15 -15 -15 -19 -15 -15 -15 -14 -16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.16 2.38 1.08 0.57 1.28 1.65 1.30 4.19 1.12 1.94 1.65
Price to Tangible Book Value (P/TBV)		 2.32 2.58 1.18 0.64 1.46 1.99 1.57 5.54 1.15 2.01 1.71
Price to Revenue (P/Rev)		 493,950.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 18.82 26.36 1.79 0.00 3.28 6.14 3.13 36.78 64.52 141.45 18.04
Enterprise Value to Revenue (EV/Rev)		 280,231.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.95 -0.95 -0.92 -0.93 -0.91 -0.92 -0.89 -0.90 -0.97 -0.97 -0.94
Leverage Ratio		 1.10 1.12 1.11 1.11 1.13 1.18 1.15 1.23 1.08 1.10 1.07
Compound Leverage Factor		 1.03 1.13 1.05 1.05 1.09 1.13 1.12 1.20 1.05 0.95 0.97
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 12.46 8.95 3.03 -1.12 -0.01 -2.77 -3.13 -2.94 10.98 17.85 23.38
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 17.89 11.35 14.38 9.39 7.99 5.28 7.48 3.70 24.00 17.50 32.45
Quick Ratio		 17.30 10.92 13.77 8.81 7.32 4.82 7.02 3.52 23.84 17.16 31.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -12 -12 -12 -11 -11 -13 -9.37 -6.33 -4.12 -5.85 -13
Operating Cash Flow to CapEx		 -21,044.87% -6,889.39% -41,333.89% -35,168.95% -255,733.18% -155,093.13% -157,413.50% -446,414.18% -165,089.39% -7,941.73% -23,061.98%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6.78 4.91 7.44 6.58 7.06 5.24 5.98 2.58 0.41 1.47 7.87
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 2.08 0.59 1.19 0.46 0.29 0.33 -1.47 -4.00 -6.65 -3.77 1.90
Enterprise Value (EV)		 128 129 13 -22 23 32 19 95 27 208 142
Market Capitalization		 225 215 85 38 74 68 55 121 254 425 341
Book Value per Share		 $3.55 $3.09 $2.69 $2.24 $1.95 $1.33 $1.17 $0.80 $6.28 $3.38 $3.19
Tangible Book Value per Share		 $3.31 $2.85 $2.45 $2.00 $1.71 $1.11 $0.97 $0.61 $6.08 $3.28 $3.09
Total Capital		 104 91 79 66 58 41 42 29 228 218 207
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -97 -86 -71 -60 -51 -36 -36 -26 -228 -217 -199
Capital Expenditures (CapEx)		 0.06 0.17 0.04 0.03 0.01 0.01 0.01 0.00 0.01 0.12 0.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.28 -4.43 -2.01 -2.82 -2.32 -4.06 -2.77 -6.12 -8.01 -6.66 -0.26
Debt-free Net Working Capital (DFNWC)		 95 81 69 57 48 32 33 20 220 166 156
Net Working Capital (NWC)		 95 81 69 57 48 32 33 20 220 166 156
Net Nonoperating Expense (NNE)		 2.85 3.67 3.58 3.64 3.91 5.06 4.21 4.10 4.20 1.95 2.73
Net Nonoperating Obligations (NNO)		 -97 -86 -71 -60 -51 -36 -36 -26 -228 -217 -199
Total Depreciation and Amortization (D&A)		 -0.23 0.11 -0.06 0.09 0.06 0.04 0.09 0.09 0.09 -0.07 -0.32
Debt-free, Cash-free Net Working Capital to Revenue		 -501,545.93% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 20,870,434.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 20,870,434.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.43) ($0.51) ($0.49) ($0.47) ($0.49) ($0.59) ($0.42) ($0.40) ($0.38) ($0.07) ($0.21)
Adjusted Weighted Average Basic Shares Outstanding		 29.27M 28.42M 29.37M 29.65M 29.84M 29.98M 35.53M 35.99M 39.67M 44.01M 64.66M
Adjusted Diluted Earnings per Share		 ($0.43) ($0.51) ($0.49) ($0.47) ($0.49) ($0.59) ($0.42) ($0.40) ($0.38) ($0.07) ($0.21)
Adjusted Weighted Average Diluted Shares Outstanding		 29.27M 28.42M 29.37M 29.65M 29.84M 29.98M 35.53M 35.99M 39.67M 44.01M 64.66M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 29.27M 29.28M 29.65M 29.65M 31.05M 35.89M 35.99M 36.32M 64.57M 64.65M 64.70M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.75 -11 -11 -10 -11 -13 -11 -10 -11 -9.63 -11
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.83% -0.38% 0.00% 0.00% 0.00% -0.07% 0.00% -0.17% -5.09% -6.65% 0.00%

Financials Breakdown Chart

Key Financial Trends

Immuneering Corp. (NASDAQ: IMRX) showed a very strong balance sheet in Q1 2026, but its operating business remains heavily loss-making and cash-consuming. The company ended the quarter with a large liquidity cushion, yet it also continued to burn significant cash from operations while generating no revenue.

  • Large liquidity position: IMRX reported $47.3 million in cash and equivalents plus $109.4 million in short-term investments, along with $42.0 million in long-term investments, giving it substantial financial flexibility.
  • Very low debt burden: Total liabilities were only $8.3 million against $206.5 million of common equity, which suggests a clean balance sheet and limited leverage risk.
  • Net assets remain strong: Total assets of $214.8 million far exceeded liabilities, indicating the company is not under near-term solvency pressure.
  • Investment income provided some offset: Interest and investment income reached $1.36 million in Q1 2026, helping partially offset operating losses.
  • R&D spending remains elevated: Research and development expense was $10.6 million in Q1 2026, consistent with a clinical-stage biotech focused on pipeline development rather than near-term profitability.
  • Stock-based dilution is part of the story: Shares outstanding have increased over time, with Q1 2026 basic shares at 64.7 million versus 35.5 million in Q1 2025, reflecting significant dilution.
  • No revenue yet: The company reported $0 in revenue again, meaning it still relies entirely on capital markets and investment income to fund operations.
  • Operating losses remain substantial: Q1 2026 net loss was $13.5 million, only slightly better than recent quarters, showing the business is still far from breakeven.
  • Cash burn was heavy: Operating cash flow was negative $18.4 million in Q1 2026, and investing activity consumed another $63.1 million, driven largely by purchases of investments.
  • Cash balance fell sharply from prior quarter: Cash and equivalents dropped from $227.6 million in Q3 2025 to $47.3 million in Q1 2026, largely because the company moved cash into investments and continued burning cash.

Trend view over the last several years: Immuneering has stayed deeply unprofitable across 2023, 2024, and 2025/2026, with quarterly net losses generally in the $12 million to $18 million range and no product revenue. The encouraging part is that its balance sheet remains strong, helped by a large investment portfolio and prior financing activity. The concern is that share count has risen materially and the company continues to consume cash while it works toward clinical and business development milestones.

Bottom line: IMRX looks financially well-capitalized for now, but investors should expect continued losses and potential dilution until the company can generate meaningful clinical or commercial progress.

07/09/26 05:39 AM ETAI Generated. May Contain Errors.

Immuneering Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Immuneering's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Immuneering's net income appears to be on an upward trend, with a most recent value of -$56.02 million in 2025, rising from -$17.04 million in 2020. The previous period was -$61.04 million in 2024. Check out Immuneering's forecast to explore projected trends and price targets.

Immuneering's total operating income in 2025 was -$59.38 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $59.38 million

Over the last 5 years, Immuneering's total revenue changed from $2.31 million in 2020 to $0.00 in 2025, a change of -100.0%.

Immuneering's total liabilities were at $13.50 million at the end of 2025, a 19.2% increase from 2024, and a 382.1% increase since 2020.

In the past 5 years, Immuneering's cash and equivalents has ranged from $36.14 million in 2024 to $128.65 million in 2025, and is currently $128.65 million as of their latest financial filing in 2025.

Over the last 5 years, Immuneering's book value per share changed from -4.54 in 2020 to 3.38 in 2025, a change of -174.5%.


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Financial statements for NASDAQ:IMRX last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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