IMCR Immunocore Holdings plc - American Depositary Shares
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$29.71
· of 52w range
· above low
· to high
$27.5652w low
$40.7252w high
Market Cap (MRQ)
$1.53B
P/E (TTM)
-78.2
EPS (TTM)
$-0.38
Revenue (TTM)
$431M
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52W Range
$28–$41
Analyst Rating
BUY
Price Target
$63
P/E
-78.2
ROE
-4.5%
Net Profit Margin
-4.2%
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IMCR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$29.71
Market Cap (MRQ)
$1.53B
P/E (TTM)
-78.2
EPS (TTM)
$-0.38
Revenue (TTM)
$431M
ROE (TTM)
-4.5%
52W Range
$28–$41
IMCR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$400M2021-12-31 → 2025-12-31
EPS$-0.712021-12-31 → 2025-12-31
Free Cash Flow$-15M2023-12-31 → 2025-12-31
Net margin-4.2%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | IMCR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -78.25Y avg ≈-46.1 | ≈-46.1 | · | · | |
| P/S (TTM) | 3.65Y avg ≈7.6 | ≈7.6 | · | · | |
| P/B (MRQ) | 3.65Y avg ≈6.0 | ≈6.0 | 6.8 | Undervalued | |
| Price / FCF (TTM) | -37.25Y avg ≈-471.1 | ≈-471.1 | · | · | |
| Price / Cash Flow (TTM) | -43.85Y avg ≈349.3 | ≈349.3 | · | · | |
| Price / Tangible Book | 4.05Y avg ≈6.0 | ≈6.0 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | IMCR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -5.2%5Y avg ≈-19.3% | ≈-19.3% | -49.3% | Top tier | |
| EBITDA Margin | -10.6%5Y avg ≈-18.1% | ≈-18.1% | -49.3% | Top tier | |
| Pretax Margin (TTM) | -0.63%5Y avg ≈-15.4% | ≈-15.4% | -42.5% | Top tier | |
| Net Profit Margin (TTM) | -4.2%5Y avg ≈-15.8% | ≈-15.8% | -43.1% | Top tier | |
| ROA (TTM) | -1.6%5Y avg ≈-6.5% | ≈-6.5% | -5.4% | Top tier | |
| ROE (TTM) | -4.5%5Y avg ≈-12.8% | ≈-12.8% | -9.2% | In line | |
| ROIC | -22.1%5Y avg ≈-18.6% | ≈-18.6% | -17.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | IMCR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 4.55Y avg ≈4.1 | ≈4.1 | 4.5 | In line | |
| Quick Ratio | 3.55Y avg ≈3.7 | ≈3.7 | 3.2 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | IMCR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 28.9%5Y avg ≈118.6% | ≈118.6% | · | · | |
| Revenue CAGR 3Y | 31.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | IMCR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.2 | Top tier | |
| Inventory Turnover | 0.85Y avg ≈0.6 | ≈0.6 | · | · | |
| Revenue / Employee | ≈$763.4K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.0%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 5, 2026 | $-0.02 | $0.01 | -290.5% |
| March 31, 2026 | $0.25 | $-0.26 | 194.6% | |
| Dec. 31, 2025 | $-0.60 | $-0.25 | -141.8% | |
| Sept. 30, 2025 | $0.00 | $-0.27 | 100.0% | |
| June 30, 2025 | $-0.20 | $-0.20 | 0.30% | |
| March 31, 2025 | $0.10 | $-0.40 | 125.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $400M | $310M | $249M | $174M | |
| Cost of Revenue | $5M | $3M | $1M | $1M | |
| R&D Expense | $275M | $222M | $164M | $102M | |
| SG&A Expense | $165M | $156M | $144M | $123M | |
| Operating Income | $-45M | $-70M | $-60M | $-52M | |
| Interest Expense | · | · | $5M | $5M | |
| Interest Income | $16M | $26M | $18M | $4M | |
| Other Non-op | $20M | $14M | $-897.0K | $-2M | |
| Pretax Income | $-19M | $-53M | $-61M | $-41M | |
| Income Tax | $16M | $-2M | $-6M | $12M | |
| Net Income | $-36M | $-51M | $-55M | $-53M | |
| EPS (Basic) | $-0.71 | $-1.02 | $-1.13 | $-1.15 | |
| EPS (Diluted) | $-0.71 | $-1.02 | $-1.13 | $-1.15 | |
| Shares (Basic) | 50,345,666 | 49,991,064 | 48,888,975 | 45,714,923 | |
| Shares (Diluted) | 50,345,666 | 49,991,064 | 48,888,975 | 45,714,923 | |
| EBITDA | $-42M | $-66M | $-56M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $468M | $456M | $443M | $402M | |
| Short-term Investments | $396M | $365M | $0 | · | |
| Receivables | · | $63M | $52M | $34M | |
| Inventory | $7M | $5M | $5M | $692.0K | |
| Prepaid Expense | $52M | $41M | $30M | $37M | |
| Other Current Assets | $7M | $8M | $10M | $4M | |
| Current Assets | $997M | $930M | $529M | $474M | |
| PP&E (Net) | $11M | $10M | $9M | $8M | |
| PP&E (Gross) | $72M | $65M | $62M | $54M | |
| Accum. Depreciation | $61M | $55M | $52M | $46M | |
| Other Non-current Assets | $20M | $17M | $14M | $9M | |
| Total Assets | $1.07B | $1.01B | $597M | $527M | |
| Accounts Payable | $24M | $25M | $18M | $14M | |
| Current Liabilities | $247M | $212M | $139M | $101M | |
| Capital Leases | $42M | $40M | $36M | $32M | |
| Total Liabilities | $686M | $649M | $228M | $188M | |
| Common Stock | $136.0K | $135.0K | $134.0K | $129.0K | |
| Paid-in Capital | $1.24B | $1.19B | $1.15B | $1.08B | |
| Retained Earnings | $-831M | $-796M | $-745M | $-689M | |
| AOCI | $-28M | $-34M | $-36M | $-55M | |
| Stockholders' Equity | $381M | $361M | $369M | $339M | |
| Liabilities + Equity | $1.07B | $1.01B | $597M | $527M | |
| Shares Outstanding | 50,689,271 | 50,064,860 | 49,725,649 | 48,088,346 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $3M | $4M | $4M | $5M | |
| Stock-based Comp | $38M | $34M | $32M | $33M | |
| Deferred Tax | $15M | $-4M | $-6M | $-2M | |
| Other Non-cash | $-31M | $43M | $16M | · | |
| Operating Cash Flow | $-11M | $26M | $3M | $-49M | |
| CapEx | $4M | $5M | $5M | $2M | |
| Investing Cash Flow | $-16M | $-355M | $-5M | $-2M | |
| Financing Cash Flow | $12M | $344M | $34M | $145M | |
| Taxes Paid | $5M | $510.0K | $977.0K | $765.0K | |
| Free Cash Flow | $-15M | $21M | $-2M | · | |
| Levered FCF | · | · | $-7M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | -11.3% | -22.7% | -23.9% | · | |
| Net Margin | -8.9% | -16.5% | -22.2% | · | |
| Pretax Margin | -4.8% | -17.1% | -24.4% | · | |
| EBITDA Margin | -10.6% | -21.4% | -22.3% | · | |
| ROA | -3.4% | -6.4% | -9.8% | · | |
| ROE | -9.2% | -13.8% | -15.3% | · | |
| ROIC | -22.1% | -18.9% | -14.7% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 4.0 | 4.4 | 3.8 | · | |
| Quick Ratio | 3.5 | 4.2 | 3.6 | · | |
| Interest Coverage | · | · | -11.6 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | · | |
| Inventory Turnover | 0.8 | 0.5 | 0.4 | · | |
| Receivables Turnover | · | 5.4 | 5.8 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Book Value / Share | $7.52 | $7.21 | $7.42 | · | |
| Revenue / Share | $7.95 | $6.21 | $5.10 | · | |
| Cash Flow / Share | $-0.21 | $0.52 | $0.06 | · | |
| Cash / Share | $9.23 | $9.10 | $8.90 | · | |
| Dividend / Share | $0.00 | $0.00 | $0.00 | $0.00 | |
| EPS (TTM) | $-0.71 | $-1.02 | $-1.13 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 28.9% | 24.4% | 43.0% | 377.9% | |
| Revenue CAGR 3Y | 31.9% | 104.1% | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $400M | $310M | $249M | · | |
| Net Income TTM | $-36M | $-51M | $-55M | · | |
| Market Cap | $1.76B | $1.48B | $3.40B | · | |
| P/E | -48.9 | -28.9 | -60.5 | · | |
| P/S | 4.4 | 4.8 | 13.6 | · | |
| P/B | 4.6 | 4.1 | 9.2 | · | |
| P / Tangible Book | 4.6 | 4.1 | 9.2 | · | |
| P / Cash Flow | -164.2 | 56.7 | 1155.5 | · | |
| P / FCF | -116.9 | 70.7 | -1367.1 | · | |
| Earnings Yield | -2.1% | -3.5% | -1.7% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $116M | $107M | $104M | $104M | $98M | $94M | $84M | $80M | $75M | $71M | $70M | $65M | $60M | $55M | |
| Cost of Revenue | $1M | $434.0K | $3M | $513.0K | $1M | $831.0K | $330.0K | $448.0K | $2M | $246.0K | $199.0K | $276.0K | $346.0K | $216.0K | |
| R&D Expense | $74M | $61M | $79M | $71M | $69M | $56M | $61M | $53M | $51M | $57M | $46M | $43M | $38M | $37M | |
| SG&A Expense | $44M | $38M | $43M | $40M | $43M | $40M | $42M | $36M | $39M | $39M | $41M | $35M | $35M | $33M | |
| Operating Income | $-3M | $7M | $-20M | $-7M | $-15M | $-4M | $-19M | $-9M | $-16M | $-26M | $-17M | $-14M | $-14M | $-15M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $3M | · | · | · | $1M | |
| Interest Income | $4M | $3M | $4M | $4M | $4M | $4M | $5M | $6M | $6M | $8M | $5M | $5M | $4M | $3M | |
| Other Non-op | $3M | $2M | $5M | $5M | $5M | $5M | $993.0K | $9M | $4M | $-190.0K | $-190.0K | $-192.0K | $-190.0K | $-325.0K | |
| Pretax Income | $-514.0K | $13M | $-16M | $304.0K | $-10M | $6M | $-25M | $6M | $-10M | $-24M | $-26M | $731.0K | $-17M | $-19M | |
| Income Tax | $294.0K | $301.0K | $14M | $481.0K | $606.0K | $1M | $-1M | $-3M | $1M | $357.0K | $-6M | $-175.0K | $191.0K | $293.0K | |
| Net Income | $-808.0K | $13M | $-30M | $-177.0K | $-10M | $5M | $-24M | $9M | $-12M | $-24M | $-20M | $906.0K | $-17M | $-19M | |
| EPS (Basic) | $-0.02 | $0.26 | $-0.61 | $0.00 | $-0.20 | $0.10 | $-0.47 | $0.17 | $-0.23 | $-0.49 | $-0.40 | $0.02 | $-0.35 | $-0.40 | |
| EPS (Diluted) | $-0.02 | $0.25 | $-0.61 | $0.00 | $-0.20 | $0.10 | $-0.47 | $0.17 | $-0.23 | $-0.49 | $-0.40 | $0.02 | $-0.35 | $-0.40 | |
| Shares (Basic) | 50,973,830 | 50,754,763 | · | 50,403,717 | 50,294,205 | 50,086,684 | · | 50,021,939 | 50,014,086 | 49,877,218 | · | 49,134,037 | 48,694,047 | 48,183,771 | |
| Shares (Diluted) | 50,973,830 | 52,934,787 | · | 50,403,717 | 50,294,205 | 51,949,798 | · | 52,808,434 | 50,014,086 | 49,877,218 | · | 54,158,967 | 48,694,047 | 48,183,771 | |
| EBITDA | $-3M | $7M | · | $-7M | $-15M | $-4M | · | $-9M | $-16M | $-26M | · | · | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $485M | $453M | $468M | $498M | $488M | $477M | $456M | $538M | $505M | $833M | · | · | · | · | |
| Short-term Investments | $395M | $392M | $396M | $394M | $395M | $360M | $365M | $364M | $355M | · | · | · | · | · | |
| Receivables | · | · | · | · | · | · | · | $64M | $60M | $58M | · | · | · | · | |
| Inventory | $8M | $8M | $7M | $6M | $5M | $7M | $5M | $5M | $3M | $4M | · | · | · | · | |
| Prepaid Expense | $68M | $70M | $50M | $49M | $44M | $42M | $41M | $36M | $34M | $31M | · | · | · | · | |
| Other Current Assets | · | · | $7M | · | · | · | $8M | · | · | · | · | · | · | · | |
| Current Assets | $1.05B | $1.00B | $997M | $1.02B | $1.00B | $949M | $930M | $1.01B | $957M | $926M | · | · | · | · | |
| PP&E (Net) | $13M | $12M | $11M | $9M | $10M | $10M | $10M | $9M | $8M | $8M | · | · | · | · | |
| PP&E (Gross) | · | · | $72M | · | · | · | $65M | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $61M | · | · | · | $55M | · | · | · | · | · | · | · | |
| Other Non-current Assets | $18M | $19M | $20M | $16M | $17M | $17M | $17M | $17M | $16M | $16M | · | · | · | · | |
| Total Assets | $1.12B | $1.07B | $1.07B | $1.10B | $1.08B | $1.03B | $1.01B | $1.08B | $1.02B | $994M | · | · | · | · | |
| Accounts Payable | $26M | $30M | $24M | $23M | $24M | $29M | $25M | $20M | $20M | $16M | · | · | · | · | |
| Current Liabilities | $235M | $240M | $247M | $170M | $170M | $149M | $212M | $266M | $185M | $155M | · | · | · | · | |
| Capital Leases | $39M | $40M | $42M | $41M | $43M | $41M | $40M | $41M | $33M | $34M | · | · | · | · | |
| Total Liabilities | $700M | $678M | $686M | $706M | $694M | $650M | $649M | $707M | $664M | $634M | · | · | · | · | |
| Long-term Debt | · | · | · | · | · | · | · | $439M | $452M | $452M | · | · | · | · | |
| Common Stock | $138.0K | $137.0K | $136.0K | $135.0K | $135.0K | $135.0K | $135.0K | $135.0K | $135.0K | $135.0K | · | · | · | · | |
| Paid-in Capital | $1.27B | $1.25B | $1.24B | $1.23B | $1.22B | $1.20B | $1.19B | $1.18B | $1.17B | $1.16B | · | · | · | · | |
| Retained Earnings | $-819M | $-818M | $-831M | $-801M | $-801M | $-791M | $-796M | $-772M | $-781M | $-769M | · | · | · | · | |
| AOCI | $-34M | $-35M | $-28M | $-30M | $-27M | $-33M | $-34M | $-31M | $-34M | $-35M | · | · | · | · | |
| Stockholders' Equity | $420M | $394M | $381M | $397M | $388M | $378M | $361M | $378M | $359M | $360M | $369M | · | · | · | |
| Liabilities + Equity | $1.12B | $1.07B | $1.07B | $1.10B | $1.08B | $1.03B | $1.01B | $1.08B | $1.02B | $994M | · | · | · | · | |
| Shares Outstanding | 51,480,159 | 50,831,928 | 50,689,271 | 50,467,954 | 50,372,068 | 50,184,609 | 50,064,860 | 50,025,620 | 50,017,606 | 50,006,085 | 49,725,649 | · | · | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $9M | $6M | $8M | $10M | $10M | $9M | $9M | $7M | $10M | $9M | $7M | $8M | $9M | $8M | |
| Operating Cash Flow | $16M | $-14M | $-33M | $-4M | $26M | $435.0K | $-14M | $21M | $23M | $-5M | $-18M | $10M | $45.0K | $11M | |
| CapEx | $786.0K | $2M | $3M | $748.0K | $414.0K | $298.0K | $4M | $828.0K | $331.0K | $430.0K | $817.0K | $212.0K | $1M | $3M | |
| Investing Cash Flow | $-786.0K | $4M | $-880.0K | $5M | $-30M | $10M | $-4M | $-828.0K | $-350M | $-430.0K | $-817.0K | $-212.0K | $-1M | $-3M | |
| Financing Cash Flow | $16M | $656.0K | $4M | $2M | $4M | $3M | $-52M | $198.0K | $-818.0K | $396M | $6M | $10M | $12M | $6M | |
| Taxes Paid | $741.0K | $13.0K | $1M | $2M | $1M | $32.0K | $158.0K | $293.0K | $199.0K | $140.0K | $757.0K | $0 | $440.0K | $-220.0K | |
| Free Cash Flow | · | $-16M | · | · | · | $137.0K | · | · | · | $-5M | · | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-8M | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -2.6% | 6.8% | · | -6.9% | -15.2% | -3.9% | · | -10.6% | -21.2% | -37.6% | · | · | · | · | |
| Net Margin | -0.70% | 12.2% | · | -0.17% | -10.5% | 5.3% | · | 10.9% | -15.4% | -34.7% | · | · | · | · | |
| Pretax Margin | -0.44% | 12.4% | · | 0.29% | -9.9% | 6.5% | · | 7.6% | -13.4% | -34.2% | · | · | · | · | |
| EBITDA Margin | -2.6% | 6.8% | · | -6.9% | -15.2% | -3.9% | · | -10.6% | -21.2% | -37.6% | · | · | · | · | |
| ROA | -0.07% | 1.2% | · | -0.02% | -0.98% | 0.50% | · | 1.6% | -2.3% | -4.9% | · | · | · | · | |
| ROE | -0.20% | 3.4% | · | -0.05% | -2.8% | 1.4% | · | 4.6% | -6.5% | -13.6% | · | · | · | · | |
| ROIC | -1.1% | 1.8% | · | 1.1% | -4.1% | -0.79% | · | -3.2% | -5.1% | -7.5% | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.5 | 4.2 | · | 6.0 | 5.9 | 6.4 | · | 3.8 | 5.2 | 6.0 | · | · | · | · | |
| Quick Ratio | 3.7 | 3.5 | · | 5.2 | 5.2 | 5.6 | · | 3.6 | 5.0 | 5.7 | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -8.2 | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | · | · | · | |
| Inventory Turnover | 0.2 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | 0.2 | 1.0 | 0.1 | · | · | · | · | |
| Receivables Turnover | · | · | · | · | · | · | · | 2.5 | 2.5 | 2.4 | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $8.15 | $7.74 | · | $7.86 | $7.71 | $7.54 | · | $7.55 | $7.18 | $7.19 | · | · | · | · | |
| Revenue / Share | $2.27 | $2.02 | · | $2.06 | $1.95 | $1.81 | · | $1.52 | $1.51 | $1.41 | · | · | · | · | |
| Cash Flow / Share | · | $-0.26 | · | · | · | $0.01 | · | · | · | $-0.09 | · | · | · | · | |
| Cash / Share | $9.42 | $8.91 | · | $9.88 | $9.69 | $9.50 | · | $10.75 | $10.10 | $16.65 | · | · | · | · | |
| EPS (TTM) | $-0.38 | $-0.56 | · | $-0.57 | $-0.40 | $-0.43 | · | $-0.95 | $-1.10 | $-1.22 | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $431M | $413M | · | $380M | $356M | $334M | · | $296M | $281M | $265M | · | · | · | · | |
| Net Income TTM | $-18M | $-28M | · | $-29M | $-20M | $-22M | · | $-47M | $-55M | $-60M | · | · | · | · | |
| Market Cap | $1.63B | $1.53B | · | $1.83B | $1.58B | $1.49B | · | $1.56B | $1.70B | $3.25B | · | · | · | · | |
| P/E | -83.6 | -53.8 | · | -63.7 | -78.5 | -69.0 | · | -32.8 | -30.8 | -53.3 | · | · | · | · | |
| P/S | 3.8 | 3.7 | · | 4.8 | 4.4 | 4.5 | · | 5.3 | 6.0 | 12.3 | · | · | · | · | |
| P/B | 3.9 | 3.9 | · | 4.6 | 4.1 | 3.9 | · | 4.1 | 4.7 | 9.0 | · | · | · | · | |
| P / Tangible Book | 3.9 | 3.9 | · | 4.6 | 4.1 | 3.9 | · | 4.1 | 4.7 | 9.0 | · | · | · | · | |
| P / Cash Flow | · | -111.3 | · | · | · | 3422.9 | · | · | · | -708.6 | · | · | · | · | |
| Earnings Yield | -1.2% | -1.9% | · | -1.6% | -1.3% | -1.5% | · | -3.0% | -3.2% | -1.9% | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $400M | $310M | $249M | $174M | $36M |
| Operating Margin % | -11.3% | -22.7% | -23.9% | · | · |
| Net Income | $-36M | $-51M | $-55M | $-53M | $-180M |
| Diluted EPS | $-0.71 | $-1.02 | $-1.13 | $-1.15 | $-4.24 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 4.0 | 4.4 | 3.8 | · | · |
| Quick Ratio | 3.5 | 4.2 | 3.6 | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-15M | $21M | $-2M | · | · |
Institutional owners (13F) 151 filers · $1.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
151
Value held
$1.6B
New positions
26
Exited positions
32
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 26 (+1 vs prior Q) | 32 (+6 vs prior Q) | 55 (0 vs prior Q) | 41 (-1 vs prior Q) | -2.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| WELLINGTON MANAGEMENT GROUP LLP | $181,671,753 | 5,721,945 | 11.22% | Shares |
| RTW INVESTMENTS, LP | $154,616,087 | 4,869,798 | 9.55% | Shares |
| FMR LLC | $136,755,061 | 4,307,246 | 8.45% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $115,514,154 | 3,638,241 | 7.13% | Shares |
| Bellevue Group AG | $88,526,779 | 2,788,245 | 5.47% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $84,117,434 | 2,649,368 | 5.19% | Shares |
| Vestal Point Capital, LP | $57,150,000 | 1,800,000 | 3.53% | Shares |
| TWO SIGMA INVESTMENTS, LP | $52,355,210 | 1,648,983 | 3.23% | Shares |
| MILLENNIUM MANAGEMENT LLC | $50,705,925 | 1,597,037 | 3.13% | Shares |
| ARMISTICE CAPITAL, LLC | $45,339,000 | 1,428,000 | 2.80% | Shares |
| Caligan Partners LP | $43,856,815 | 1,381,317 | 2.71% | Shares |
| Kynam Capital Management, LP | $43,656,250 | 1,375,000 | 2.70% | Shares |
| BVF INC/IL | $41,099,200 | 1,294,463 | 2.54% | Shares |
| Trails Edge Capital Partners, LP | $33,757,680 | 1,063,234 | 2.08% | Shares |
| BlackRock, Inc. | $31,895,988 | 1,004,598 | 1.97% | Shares |
| Point72 Asset Management, L.P. | $31,441,390 | 990,280 | 1.94% | Shares |
| Logos Global Management LP | $19,050,000 | 600,000 | 1.18% | Shares |
| MARSHALL WACE, LLP | $18,762,377 | 590,941 | 1.16% | Shares |
| Hudson Bay Capital Management LP | $18,732,500 | 590,000 | 1.16% | Shares |
| CITADEL ADVISORS LLC | $17,994,662 | 566,761 | 1.11% | Shares |
| JANUS HENDERSON GROUP PLC | $17,918,673 | 594,712 | 1.11% | Shares |
| BRAIDWELL LP | $16,552,132 | 521,327 | 1.02% | Shares |
| Jones Hill Capital LP | $16,283,178 | 512,856 | 1.01% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $15,423,801 | 485,789 | 0.95% | Shares |
| Frazier Life Sciences Management, L.P. | $15,391,829 | 484,782 | 0.95% | Shares |
| Fulcrum Asset Management LLP | $14,298,161 | 470,025 | 0.88% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $12,929,203 | 407,219 | 0.80% | Shares |
| D. E. Shaw & Co., Inc. | $12,862,433 | 405,116 | 0.79% | Shares |
| Candriam S.C.A. | $11,832,815 | 373,046 | 0.73% | Shares |
| TWO SIGMA ADVISERS, LP | $11,187,033 | 322,300 | 0.69% | Shares |
| CANTOR FITZGERALD, L. P. | $10,798,175 | 340,100 | 0.67% | Shares |
| Woodline Partners LP | $10,057,194 | 316,762 | 0.62% | Shares |
| Deep Track Capital, LP | $9,881,172 | 311,218 | 0.61% | Shares |
| Legal & General Group Plc | $9,511,559 | 299,670 | 0.59% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $9,383,586 | 295,546 | 0.58% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $8,720,550 | 274,663 | 0.54% | Shares |
| DIADEMA PARTNERS LP | $8,091,900 | 254,863 | 0.50% | Shares |
| JANE STREET GROUP, LLC | $7,408,799 | 233,348 | 0.46% | Shares |
| Qube Research & Technologies Ltd | $7,084,187 | 223,124 | 0.44% | Shares |
| MORGAN STANLEY | $5,964,259 | 187,850 | 0.37% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,889,625 | 185,500 | 0.36% | Put option |
| Caption Management, LLC | $5,495,925 | 173,100 | 0.34% | Put option |
| Caption Management, LLC | $5,476,970 | 172,503 | 0.34% | Shares |
| Catalio Capital Management, LP | $4,700,429 | 148,045 | 0.29% | Shares |
| GOLDMAN SACHS GROUP INC | $4,360,101 | 137,326 | 0.27% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $4,259,739 | 134,165 | 0.26% | Shares |
| Jump Financial, LLC | $4,189,381 | 131,949 | 0.26% | Shares |
| Y-Intercept (Hong Kong) Ltd | $4,021,201 | 126,652 | 0.25% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,687,572 | 116,144 | 0.23% | Shares |
| XTX Topco Ltd | $3,687,286 | 116,135 | 0.23% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| General Atlantic, L.P., GAP (Bermuda) L.P., General Atlantic GenPar (Bermuda), L.P., General Atlantic Partners (Bermuda) IV, L.P., General Atlantic Partners (Bermuda) EU, L.P., GA IMC Holding, Ltd., General Atlantic (Lux) S.à r.l., GAP Coinvestments III, LLC, GAP Coinvestments IV, LLC, GAP Coinvestments V, LLC, GAP Coinvestments CDA, L.P., General Atlantic GenPar (Lux) SCSp, General Atlantic Partners (Lux) SCSp, GA IMC Holding, L.P. ×7 filings | March 7, 2024 | · | Initial filing | · | SEC |
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Felix J. Baker, Julian C. Baker ×3 filings | Feb. 1, 2024 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 12 insiders · 6 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Bahija Jallal | CHIEF EXECUTIVE OFFICER | Feb. 17, 2026 A | 12,343 | 0 | 1 | $-371,184 |
| Travis Alan Coy | Chief Financial Officer | Feb. 17, 2026 A | · | 0 | 0 | $0 |
| Brian Di Donato | CHIEF FINANCIAL OFFICER | Feb. 16, 2024 A | · | 0 | 0 | $0 |
| Tina Amber St Leger | CHIEF HR OFFICER | Feb. 17, 2026 M | 1,119 | 0 | 1 | $-32,350 |
| David M Berman | HEAD OF R&D | Feb. 17, 2026 M | 5,859 | 0 | 7 | $-5,208,883 |
| John Goll | SVP, FINANCE & CAO | Feb. 17, 2026 A | 653 | 0 | 1 | $-22,580 |
| John Irving Bell | Director | May 27, 2026 A | · | 0 | 0 | $0 |
| Siddharth Kaul | Director | May 27, 2026 A | · | 0 | 0 | $0 |
| Roy Steven Herbst | Director | May 27, 2026 A | · | 0 | 0 | $0 |
| Peter John Ratcliffe | Director | May 27, 2026 A | · | 0 | 0 | $0 |
| William Pao | Director | May 27, 2026 A | · | 0 | 0 | $0 |
| Kristine Peterson | Director | May 27, 2026 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 5 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BBP · ETFis Series Trust I | 1.61% | 46,863 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.11% | 324,675 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.09% | 3,286 SH | Oct. 1, 2026 | Daily |
| ISCF · iShares Trust | 0.08% | 17,076 SH | Sept. 11, 2026 | Daily |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.03% | 2,894 SH | Oct. 1, 2026 | Daily |
IMCR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 22 analysts
BUY
Median target
$60.00
+102.0%
6 27.3%
Strong Buy
11 50.0%
Buy
5 22.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
11 analysts · 2026-10-03Mean target $62.73 +111.1%
← Below all targets
Current price $29.71
Low$34.00
Mean$62.73
High$100.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
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Source: SEC 10-Q filed Aug 6, 2026