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Financials · INO

Inovio Pharmaceuticals Inc. (INO) financials

For the twelve months ended Jun 30, 2026, Inovio Pharmaceuticals Inc. reported $0 of revenue and -$67.43M of net income.

Revenue, TTM
$0
Revenue growth, YoY
-100.0%
Net income, TTM
-$67.43M
Free cash flow, TTM
-$80.78M
Cash
$31.53M
Market cap
$165.7M
Annual revenue$65.3K
FY2016FY2025
Annual net income-$84.95M
FY2016FY2025
Annual free cash flow-$88.92M
FY2016FY2025

INO revenue and earnings growth

INO revenueQ2 2026$0

FY YoY
-70.0%
5Y CAGR
-61.2%
10Y CAGR
-47.4%

INO revenue was $0 in fiscal Q2 2026 (ended Jun 30, 2026), compared with $0 a year earlier. For the full fiscal 2025 it was $65.3K, down 70.0% from fiscal 2024. Compound annual growth was -61.2% over 5 years and -47.4% over 10 years. It rose in 3 of the last 10 fiscal years.

INO net incomeQ2 2026-$6.01M

INO net income was -$6.01M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$23.52M a year earlier. For the full fiscal 2025 it was -$84.95M, compared with -$107.25M in fiscal 2024.

INO EPSQ2 2026-$0.07

INO diluted EPS was -$0.07 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$1.81.

INO free cash flowQ2 2026-$18.05M

INO free cash flow was -$18.05M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$20.84M a year earlier. For the full fiscal 2025 it was -$88.92M, compared with -$104.56M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$65.3K$217.8K$832.0K$10.26M$1.77M$7.41M$4.11M$30.48M$42.22M$35.37M
Research and development$54.21M$75.62M$86.68M$187.65M$249.24M$94.25M$88.02M$95.26M$98.57M$88.71M
Selling, general and admin$32.68M$37.00M$47.58M$90.19M$53.75M$37.25M$27.20M$29.32M$28.29M$23.89M
Operating income-$86.82M-$112.40M-$143.94M-$267.57M-$301.22M-$124.08M-$111.11M-$94.09M-$83.64M-$76.24M
Interest expense$0$177.8K$1.22M$1.25M$1.94M$8.70M$7.95M$0$25.9K-
Pre-tax income-$84.95M-$107.25M-$135.12M-$277.65M-$303.22M-$162.89M-$120.81M-$94.80M-$88.21M-$73.74M
Income tax$0$0$0$0$0$0-$257.3K$2.17M$0$0
Net income-$84.95M-$107.25M-$135.12M-$279.82M-$303.66M-$166.41M-$119.36M-$96.97M-$88.21M-$73.74M
EPS, basic-$1.81-$3.95-$6.09-$14.07-$17.45-$12.84-$14.52-$12.60-$12.96-$12.12
EPS, diluted-$1.81-$3.95-$6.09-$14.07-$17.45-$12.84-$14.52-$12.60-$13.08-$12.12
Diluted shares46.9M27.2M22.2M19.9M17.4M12.9M8.2M7.7M6.8M6.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$44.27M$65.81M$14.31M$46.33M$71.14M$250.73M$22.20M$23.69M$23.79M$19.14M
Short-term investments$14.24M$28.30M$130.98M$206.67M$330.17M$160.91M$67.34M$57.54M$103.64M$85.63M
Receivables$450$1.20M$2.41M$1.70M$5.47M$18.56M$700.1K$3.32M$6.00M$15.82M
Current assets$61.12M$97.83M$153.11M$315.24M$448.44M$471.17M$94.20M$87.81M$138.36M$124.60M
Goodwill--$0$10.51M$10.51M$10.51M$10.51M$10.51M$10.51M$10.51M
Total assets$74.31M$113.20M$170.95M$348.53M$495.94M$539.77M$143.95M$131.11M$187.24M$173.71M
Current liabilities$43.67M$35.33M$42.57M$96.87M$65.74M$41.71M$31.99M$35.30M$35.41M$43.82M
Total debt-------$0--
Total liabilities$50.21M$44.69M$53.60M$126.17M$96.27M$78.63M$138.55M$44.08M$44.75M$50.33M
Shareholders' equity$24.10M$68.50M$117.35M$222.36M$399.67M$461.14M$5.40M$87.03M$142.49M$123.38M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$88.63M-$104.08M-$124.37M-$216.22M-$215.71M-$177.98M-$97.85M-$73.55M-$63.21M-$62.56M
Capital expenditures$285.7K$487.8K$320.9K$969.2K$1.23M$1.52M$987.9K$2.09M$10.29M$2.74M
Free cash flow-$88.92M-$104.56M-$124.69M-$217.18M-$216.94M-$179.50M-$98.84M-$75.64M-$73.50M-$65.29M
Investing cash flow$14.04M$104.07M$87.36M$109.59M-$175.34M-$58.80M-$9.04M$42.42M-$27.83M$16.27M
Financing cash flow$53.05M$51.48M$5.00M$81.84M$211.50M$465.28M$105.40M$31.04M$95.69M$7.79M
Stock-based compensation$3.76M$6.60M$11.07M$22.56M$26.34M$15.65M$10.90M$10.65M$13.07M$10.48M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-70.0%-73.8%-91.9%478.2%-76.1%80.2%-86.5%-27.8%19.4%-12.8%
Operating margin-132871.3%-51616.9%-17300.3%-2607.4%-16972.3%-1674.2%-2702.1%-308.7%-198.1%-215.5%
Net margin-130000.0%-49254.3%-16239.9%-2726.7%-17109.9%-2245.4%-2902.8%-318.1%-208.9%-208.5%
Free cash flow margin-136074.5%-48019.1%-14986.2%-2116.3%-12223.6%-2422.0%-2403.7%-248.1%-174.1%-184.6%
Return on equity-352.5%-156.6%-115.1%-125.8%-76.0%-36.1%-2208.4%-111.4%-61.9%-59.8%
Return on assets-114.3%-94.7%-79.0%-80.3%-61.2%-30.8%-82.9%-74.0%-47.1%-42.5%
Current ratio1.402.773.603.256.8211.302.942.493.912.84
Debt to equity-------0.00--

Source: XBRL data Inovio Pharmaceuticals Inc. files with the SEC, latest filing dated Aug 12, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-12, first reported Mar 6, 2024.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

INO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
INO$0-100.0%-$67.43M-$165.7M
MRNA$2.52B+13.1%-$2.79B-110.5%$107.39B
BNTX€2.87B+4.3%-€1.14B-39.6%$21.98B
MRK$67.38B+4.9%$2.45B3.6%$366.73B
ARCT$30.51M-68.7%-$87.24M-285.9%$273.5M

INO FAQ

7 questions
  • What is INO revenue?
    Inovio Pharmaceuticals Inc. (INO) reported $0 of revenue for the twelve months ended Jun 30, 2026. That is down 100.0% from the year before. Revenue for fiscal 2025 was $65.3K.
  • Is INO profitable?
    No. Inovio Pharmaceuticals Inc. reported a net loss of $67.43M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does INO have?
    Inovio Pharmaceuticals Inc. reported $31.53M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is INO revenue growing?
    Inovio Pharmaceuticals Inc.'s revenue changed -70.0% in fiscal 2025, to $65.3K. Its compound annual growth rate was -61.2% over 5 years and -47.4% over 10 years.
  • What is INO free cash flow?
    Inovio Pharmaceuticals Inc. generated -$80.78M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$80.58M less capital expenditures.
  • When did INO last report financial results?
    The latest statements here come from Inovio Pharmaceuticals Inc.'s 10-Q filed on Aug 12, 2026, covering the period ended Jun 30, 2026.
  • Where does this INO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Inovio Pharmaceuticals Inc. files with the SEC. It is provided for information only and is not investment advice.