ImmunityBio (IBRX) Q3 2026 earnings summary

Executive summary

• Q3 2026 net product revenue reached $48.7M, up 53% YoY; nine-month net product revenue was $143.6M, up 92% YoY.

• Expanded ANKTIVA access and international growth supported commercial momentum, while operating losses, financing needs and fair-value swings remained key financial issues.

Financial highlights

• Q3 total revenue was $48.8M vs. $32.1M YoY; net product revenue was $48.7M vs. $31.8M.

• Q3 operating loss was $78.0M vs. $55.6M, and net loss was $184.6M vs. $67.3M; nine-month total revenue was $144.3M vs. $75.0M, and net loss was $1.048B vs. $289.5M.

• Q3 R&D expense increased to $71.5M from $51.2M and SG&A to $54.0M from $36.3M; total operating costs rose 45% to $126.8M.

• Q3 basic and diluted loss per share were $(0.17) and $(0.18), respectively, vs. $(0.07) for both; nine-month basic and diluted loss per share were each $(1.00) vs. $(0.32).

• Q3 other expense was $106.6M, including $60.6M convertible-note and $15.8M warrant-liability fair-value losses.

Outlook and guidance

• R&D expense is expected to rise with label expansion, pipeline advancement and planned trials; SG&A is expected to grow with U.S. and global commercialization.

• ANKTIVA revenue is expected to take time to offset expenses; additional funding will be needed, with liquidity, product sales, equity financing and potential affiliate support expected to fund operations for at least 12 months after issuance.

• Manufacturing investment and capital spending are expected to remain significant as GMP capacity scales.

• An sBLA for BCG-naïve NMIBC is targeted for Q4 2026; expanded-indication global filings, international access expansion and real-world evidence studies are also planned.