NASDAQ · Financial Statements

Immunocore Holdings plc (IMCR) Financial Statements

$31.95 NASDAQ: IMCR Market Cap $1.62B

Immunocore Holdings plc most recently reported annual revenue of $298.0M, a net loss of $26.0M. Revenue grew at an average annual rate of 58.3% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Immunocore Holdings plc: Revenue rose from $16.0M in 2016 to $298.0M in 2025, a change of +1762.5% over 9 years; net profit was positive in 0 of 10 reported years; operating margin moved from -197.3% to -11.3%, a shift of +185.9 percentage points; the most recent year shows a net loss of $26.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$16.0M$14.0M$24.0M$26.0M$30.0M$27.0M$144.0M$197.0M$248.0M$298.0M
Operating Expenses$49.0M$82.0M$117.0M$144.0M$116.0M$156.0M$187.0M$245.0M$304.0M$331.0M
Operating Profit$-32.0M$-68.0M$-93.0M$-118.0M$-86.0M$-129.0M$-43.0M$-47.0M$-56.0M$-34.0M
Operating Margin-197.3%-467.4%-395.1%-460.9%-286.2%-478.5%-29.7%-23.9%-22.7%-11.3%
Other Income$1.0M$3.0M$5.0M$37.0M$-1.0M$-4.0M$9.0M$-1.0M$14.0M$20.0M
Interest$0$0$1.0M$4.0M$3.0M$6.0M$5.0M$4.0M$19.0M$12.0M
Depreciation$3.0M$4.0M$7.0M$7.0M$6.0M$6.0M$4.0M$3.0M$3.0M$2.0M
Profit Before Tax$-31.0M$-65.0M$-88.0M$-82.0M$-87.0M$-133.0M$-34.0M$-48.0M$-42.0M$-14.0M
Tax$-25.9M$-24.4M$18.8M$-27.3M$15.2M$-80,000$-28.5M$9.2M$3.5M$-85.9M
Net Profit$-23.0M$-50.0M$-72.0M$-104.0M$-74.0M$-133.0M$-43.0M$-44.0M$-41.0M$-26.0M
EPS$-9.45$-20.16$-2.62$-3.81$-2.33$-3.00$-0.95$-0.89$-1.02$-0.53
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$47.0M$54.0M$56.0M$71.0M$75.0M$80.0M$84.0M$94.0M$98.0M$104.0M$77.0M$107.0M
Operating Expenses$58.0M$64.0M$70.0M$97.0M$91.0M$89.0M$104.0M$97.0M$113.0M$111.0M$92.0M$99.0M
Operating Profit$-11.0M$-10.0M$-14.0M$-26.0M$-16.0M$-9.0M$-19.0M$-4.0M$-15.0M$-7.0M$-15.0M$7.0M
Operating Margin-23.0%-19.4%-24.3%-37.6%-21.2%-10.6%-23.1%-3.9%-15.2%-6.9%-18.9%6.8%
Interest$1.0M$1.0M$1.0M$3.0M$4.0M$4.0M$7.0M$3.0M$3.0M$3.0M$3.0M$2.0M
Profit Before Tax$-13.0M$2.0M$-20.0M$-24.0M$-10.0M$6.0M$-25.0M$6.0M$-10.0M$0$-12.0M$13.0M
Tax$-1.1M$-8.2M$23.1M$-1.5M$-14.7M$-43.4M$4.2M$17.4M$-6.3M$-158.2M$-90.3M$2.3M
Net Profit$-13.0M$2.0M$-16.0M$-24.0M$-12.0M$9.0M$-24.0M$5.0M$-10.0M$1.0M$-22.0M$13.0M
EPS$-0.29$0.04$-0.32$-0.49$-0.23$0.17$-0.47$0.10$-0.21$0.02$-0.44$0.25

Over the 10 years reported for Immunocore Holdings plc, cash stood at $468.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 4.04 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$219.0M$198.0M$196.0M$246.0M$197.0M$407.0M$527.0M$472.0M$1.0B$1.1B
Current Assets$191.0M$145.0M$171.0M$165.0M$153.0M$355.0M$474.0M$418.0M$930.0M$997.0M
Cash$134.0M$84.0M$124.0M$98.0M$177.0M$321.0M$402.0M$350.0M$456.0M$468.0M
Inventory$0$0$-8.0M$0$-7.0M$0$1.0M$4.0M$5.0M$7.0M
Receivables$0$0$4.0M$66.0M$2.0M$34.0M$57.0M$49.0M$83.0M$74.0M
Fixed Assets$11.0M$24.0M$21.0M$73.0M$37.0M$43.0M$39.0M$34.0M$48.0M$50.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$57.0M$35.0M$0$0$1.0M$0$0$0$365.0M$396.0M
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$44.0M$60.0M$139.0M$226.0M$142.0M$176.0M$188.0M$181.0M$649.0M$686.0M
Current Liabilities$22.0M$30.0M$50.0M$112.0M$55.0M$83.0M$101.0M$110.0M$212.0M$247.0M
Borrowings$0$17.0M$19.0M$79.0M$74.0M$86.0M$81.0M$66.0M$433.0M$437.0M
Other Liabilities$44.0M$43.0M$120.0M$148.0M$67.0M$90.0M$106.0M$114.0M$216.0M$250.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$175.0M$138.0M$57.0M$20.0M$55.0M$232.0M$339.0M$292.0M$361.0M$381.0M

For Immunocore Holdings plc, operating cash flow was positive in 2 of 10 reported years; free cash flow in the latest year was negative at $11.0M; free cash flow was positive in 1 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-37.0M$-62.0M$-17.0M$-101.0M$-61.0M$-143.0M$-49.0M$2.0M$26.0M$-8.0M
Investing Cash Flow$23.0M$-27.0M$54.0M$-8.0M$-3.0M$-3.0M$-4.0M$-9.0M$-360.0M$-15.0M
Financing Cash Flow$0$1.0M$0$-1.0M$-43.0M$1.0M$6.0M$27.0M$-15.0M$0
Net Cash Flow$134.0M$-52.0M$42.0M$-50.0M$56.0M$144.0M$81.0M$32.0M$13.0M$9.0M
Free Cash Flow$-43.0M$-79.0M$-20.0M$-106.0M$-64.0M$-144.0M$-51.0M$-2.0M$21.0M$-11.0M

Valuation & Return Ratios

MetricValue
PEG Ratio9.51
EV / EBITDA257.52
FCF Yield-1.89%
Quick Ratio4.15
Interest Coverage-2.56
Return 1Y-0.97%
Return 3Y-44.64%
Return 5Y3.33%

Immunocore Holdings plc (IMCR) financials — frequently asked questions

What is Immunocore Holdings plc's annual revenue?

Immunocore Holdings plc (IMCR) reported annual revenue of $298.0M in its most recent fiscal year.

What is Immunocore Holdings plc's net profit?

Immunocore Holdings plc (IMCR) reported a net loss of $26.0M in its most recent fiscal year.

What is IMCR EV/EBITDA?

Immunocore Holdings plc's enterprise value to EBITDA (EV/EBITDA) ratio is 257.52.

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