Immunocore Holdings (IMCR) Financial Statements & Analysis

Immunocore Holdings (IMCR) Income Statement

Immunocore Holdings reported revenue of GBP 297.57M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 4.1% from GBP 310.20M a year earlier. Immunocore Holdings posted a net loss of GBP 26.42M, compared with a net loss of GBP 54.79M a year earlier. Gross margin was 97.9% and operating margin -11.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $115.93M, up 18.3% from the same quarter a year earlier.

Immunocore Holdings Income Statement Analysis

Values in millions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Immunocore Holdings plc income statement - Annual data in millions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	297.57	310.20	197.39	174.36	27.04	41.11	25.67	23.65	14.45
Cost of Revenue	6.21	224.88	0.82	1.09	0.00	102.14	99.99	0.00	0.00
Gross Profit	291.36	307.47	196.57	173.27	27.04	-61.02	-74.32	23.65	14.45
Operating Expenses
Research & Development	204.47	222.15	129.42	101.92	74.31	74.81	99.99	83.58	61.16
Selling, General & Administrative	120.62	155.78	114.35	123.06	82.15	62.45	44.18	34.16	22.03
Operating Expenses	325.09	377.93	243.77	224.98	156.46	60.26	44.00	117.73	82.87
Operating Income	-33.74	-70.46	-47.20	-51.71	-129.42	-121.28	-118.32	-93.46	-67.53
Other Income/Expense
Interest Income	16.48	65.02	14.23	3.76	0.07	0.96	1.40	0.82	0.00
Interest Expense	12.17	-18.84	4.08	5.41	5.57	-4.24	3.80	0.84	0.00
Other Income/Expense	19.53	17.52	-0.98	12.48	-3.92	1.69	36.65	5.28	2.80
Income
Income Before Tax	-14.21	-52.94	-48.19	-40.88	-133.34	-119.27	-81.67	-88.18	-64.73
Income Tax Expense	12.21	1.85	-4.43	11.66	0.11	-18.11	22.26	-16.55	15.82
Net Income	-26.42	-54.79	-43.75	-52.54	-133.45	-101.16	-103.93	-71.63	-49.57
Net Income - Continuous Operations	-26.42	-40.81	-43.75	-52.54	-133.45	-74.09	-103.93	-71.63	-49.57
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	0.39	-48.21	-40.87	-30.14	-123.58	-112.48	-111.56	-86.75	-64.47
EBIT	-25.63	-52.41	-55.74	-35.47	-174.66	-121.28	-	-	-
Depreciation & Amortization	2.43	4.20	3.24	5.34	5.63	8.80	6.76	6.71	3.96
Earnings Per Share
Basic EPS	-1.00	-1.00	-1.00	-1.00	-3.00	-4.00	-4.00	-3.00	-20.00
Diluted EPS	-1.00	-1.00	-1.00	-1.00	-3.00	-4.00	-4.00	-3.00	-20.00
Basic Shares Outstanding	50.35	49.99	48.89	45.80	42.49	26.52	27.31	27.31	2.46
Diluted Shares Outstanding	50.35	49.99	48.89	45.80	43.86	26.52	27.31	27.31	2.46

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Immunocore Holdings Financial Statements

What was Immunocore Holdings's revenue in fiscal 2025?

Immunocore Holdings reported revenue of GBP 297.57M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 4.1% from GBP 310.20M a year earlier.

Is Immunocore Holdings profitable?

No. Immunocore Holdings reported a net loss of GBP 26.42M in fiscal 2025. In fiscal 2024 it lost GBP 54.79M.

What is Immunocore Holdings's operating margin?

Immunocore Holdings's operating income was −GBP 33.74M on revenue of GBP 297.57M in fiscal 2025, an operating margin of -11.3%, compared with -22.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition