Immatics (IMTX) Financial Statements & Analysis

Immatics (IMTX) Income Statement

Immatics reported revenue of EUR 48.27M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 69.0% from EUR 155.84M a year earlier. Immatics posted a net loss of EUR 196.45M, compared with net income of EUR 15.22M a year earlier. Gross margin was 100.0% and operating margin -377.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was EUR 9.14M, up 93.0% from the same quarter a year earlier.

Immatics Income Statement Analysis

Values in millions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Immatics N.V. income statement - Annual data in millions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	48.27	155.84	54.00	172.83	34.76	31.25	18.45	3.77
Cost of Revenue	183.83	0.00	0.00	0.00	0.00	67.09	40.09	33.97
Gross Profit	48.27	155.84	54.00	172.83	34.76	-35.83	-21.64	-30.20
Operating Expenses
Research & Development	183.83	148.08	118.66	106.78	87.57	67.08	40.09	33.97
Selling, General & Administrative	51.18	46.45	38.20	36.12	33.81	34.19	11.76	7.67
Operating Expenses	230.28	194.45	155.72	142.88	121.06	33.88	51.46	38.18
Operating Income	-182.02	-38.62	-101.73	29.95	-86.29	-69.72	-33.01	-34.41
Other Income/Expense
Interest Income	17.18	25.00	13.85	2.48	0.13	0.85	0.79	0.51
Interest Expense	-0.95	0.89	0.83	1.04	0.57	-0.29	0.17	0.02
Other Income/Expense	-16.42	59.96	4.73	12.08	-7.04	19.87	0.53	2.05
Income
Income Before Tax	-198.44	21.35	-96.99	42.04	-93.34	-211.84	-32.49	-32.36
Income Tax Expense	-1.99	6.13	-2.35	14.33	0.00	0.00	0.00	0.00
Net Income	-196.45	15.22	-94.65	27.70	-93.34	-211.28	-31.74	-31.44
Net Income - Continuous Operations	-196.45	15.22	-94.65	27.70	-93.34	-211.28	-31.74	-31.44
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	-172.88	34.46	-88.93	50.04	-87.51	-67.49	-28.47	-31.73
EBIT	-182.02	22.23	-101.73	43.07	-92.77	-69.72	-	-
Depreciation & Amortization	9.14	12.23	7.23	6.97	5.26	2.23	3.85	2.25
Earnings Per Share
Basic EPS	-2.00	-	-1.00	1.00	-1.00	-4.00	-	-
Diluted EPS	-2.00	-	-1.00	1.00	-1.00	-4.00	-	-
Basic Shares Outstanding	122.35	106.80	80.55	66.99	62.91	48.00	62.91	62.91
Diluted Shares Outstanding	122.35	106.80	80.55	68.21	62.91	48.00	62.91	62.91

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

Frequently Asked Questions About Immatics Financial Statements

What was Immatics's revenue in fiscal 2025?

Immatics reported revenue of EUR 48.27M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 69.0% from EUR 155.84M a year earlier.

Is Immatics profitable?

No. Immatics reported a net loss of EUR 196.45M in fiscal 2025. In fiscal 2024 it earned EUR 15.22M.

What is Immatics's operating margin?

Immatics's operating income was −EUR 182.02M on revenue of EUR 48.27M in fiscal 2025, an operating margin of -377.1%, compared with -24.8% 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