IBIO

MKT CAP:$27M

iBio, Inc.

Market Cap

$27M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.81-$0.21 (-10.15%)

Apr 23, 2026

Company Details

iBio, Inc., a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. The company operates in two segments: Biopharmaceuticals and Bioprocessing. Its l...

CEO

Martin Brenner

IPO Date

Aug 19, 2008

Website

www.ibioinc.com

Key Metrics TTM

Revenue

$300.0K

-20.0% YoY

Net Income

-$25M

EPS (Diluted)

-$1.00

Free Cash Flow

-$19M

Revenue / Share

$0.00

Gross Margin

-76.7%

Operating Margin

-7657.7%

Net Margin

-8245.7%

FCF Margin

-6396.3%

P/S

90.3x

P/E

—

Earnings Reports

Q3 2026

May 1, 2026

PENDING

Q2 2026

Feb 10, 2026

$0-100.0%EPS -$0.09

Q1 2026

Nov 12, 2025

$100.0KEPS -$0.11

FY 2025

Sep 5, 2025

$400.0K+77.8%EPS -$1.75

Q4 2025

Sep 5, 2025

$200.0K+14.3%EPS -$0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$765.0K	$272.0K	-$7M
Q1 22	$84.0K	-$726.0K	-$5M
Q2 22	$0	-$1M	-$7M
Q3 22	$2M	$2M	-$7M
Q1 23	$0	$0	-$8M
Q2 23	$0	$0	-$11M
Q4 23	$0	-$31.0K	-$5M
Q1 24	$50.0K	-$200.0K	-$5M
Q2 24	$0	$0	-$4M
Q4 24	$175.0K	-$106.0K	-$3M
Q1 25	$0	$0	-$4M
Q2 25	$200.0K	$200.0K	-$4M
Q3 25	$0	$0	-$5M
Q4 25	$200.0K	$200.0K	-$5M
Q1 26	$100.0K	-$189.0K	-$6M
Q2 26	$0	-$241.0K	-$7M

Valuation

Quarter	P/S	P/E
Q3 21	112.1x	—
Q1 22	126.5x	—
Q2 22	85.6x	—
Q3 22	37.9x	—
Q1 23	22.1x	—
Q2 23	4.1x	—
Q4 23	8.1x	—
Q1 24	230.1x	—
Q2 24	96.5x	—
Q4 24	77.1x	—
Q1 25	85.2x	—
Q2 25	54.8x	—
Q3 25	97.9x	—
Q4 25	18.7x	—
Q1 26	17.6x	—
Q2 26	326.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$7M	-$8M
Q1 22	-$9M	-$13M
Q2 22	-$11M	-$13M
Q3 22	-$6M	-$8M
Q1 23	-$14M	-$16M
Q2 23	-$8M	-$11M
Q4 23	-$5M	-$5M
Q1 24	-$5M	-$5M
Q2 24	-$5M	-$5M
Q4 24	-$5M	-$5M
Q1 25	-$4M	-$4M
Q2 25	-$4M	-$4M
Q3 25	-$3M	-$3M
Q4 25	-$5M	-$5M
Q1 26	-$6M	-$6M
Q2 26	-$5M	-$6M

Capital Expenditures

Quarter	CapEx
Q3 21	$1M
Q1 22	$4M
Q2 22	$2M
Q3 22	$2M
Q1 23	$2M
Q2 23	$3M
Q4 23	$506.0K
Q1 24	$0
Q2 24	$0
Q4 24	$210.0K
Q1 25	$0
Q2 25	$1.0K
Q3 25	$14.0K
Q4 25	$1.0K
Q1 26	$32.0K
Q2 26	$516.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+696.9%	+91.5%
Q1 22	-92.5%	+31.1%
Q2 22	-100.0%	-1.4%
Q3 22	+155.3%	+4.1%
Q1 23	-100.0%	-4.2%
Q2 23	-100.0%	+99.2%
Q4 23	—	-31.3%
Q1 24	-97.2%	-40.0%
Q2 24	—	-41.1%
Q4 24	—	-66.1%
Q1 25	—	-17.3%
Q2 25	+300.0%	-10.4%
Q3 25	—	+8.5%
Q4 25	+14.3%	+50.6%
Q1 26	—	+47.4%
Q2 26	-100.0%	+50.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$374.0K	48.9%
Q1 22	$821.0K	977.4%
Q2 22	$1M	—
Q3 22	$1M	70.8%
Q1 23	$1M	—
Q2 23	$1M	—
Q4 23	$446.0K	—
Q1 24	$765.0K	1530.0%
Q2 24	$456.0K	—
Q4 24	$360.0K	205.7%
Q1 25	$415.0K	—
Q2 25	$475.0K	237.5%
Q3 25	$370.0K	—
Q4 25	$270.0K	135.0%
Q1 26	$323.0K	323.0%
Q2 26	$253.0K	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	$2M	$5M	—
Q1 22	$1M	—	$3M
Q2 22	$2M	—	$4M
Q3 22	$3M	$5M	—
Q1 23	$3M	$5M	—
Q2 23	$3M	$8M	—
Q4 23	$2M	—	$3M
Q1 24	$2M	—	$3M
Q2 24	$2M	$3M	—
Q4 24	$1M	—	$2M
Q1 25	$1M	$3M	—
Q2 25	$2M	$3M	—
Q3 25	$2M	$3M	—
Q4 25	$3M	$2M	—
Q1 26	$4M	$3M	—
Q2 26	$4M	$5M	—

Revenue Segments

Quarter	Ibio Cdmo	Ibio Inc
Q3 21	$65.0K	$700.0K
Q2 22	$168.0K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$34M	$15M	$49M
Q4 22	$23M	$11M	$34M
Q1 23	$10M	$8M	$17M
Q2 23	$4M	$6M	$10M
Q3 23	$7M	$0	$7M
Q4 23	$7M	$0	$7M
Q1 24	$1M	$0	$1M
Q2 24	$3M	$0	$3M
Q3 24	$5M	$0	$5M
Q4 24	$14M	$0	$14M
Q1 25	$11M	$0	$11M
Q2 25	$7M	$0	$7M
Q3 25	$5M	$0	$5M
Q4 25	$9M	$0	$9M
Q1 26	$28M	$21M	$50M
Q2 26	$29M	$24M	$53M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	431K	+14.6%	+169.7%
Q1 22	436K	+1.1%	+55.5%
Q2 22	436K	+0.1%	+34.2%
Q3 22	436K	-0.0%	+15.9%
Q1 23	442K	+1.4%	+2.6%
Q2 23	490K	+10.9%	+12.5%
Q4 23	1M	+107.1%	+132.9%
Q1 24	1M	+18.0%	+174.9%
Q2 24	2M	+54.9%	+319.8%
Q4 24	9M	+364.6%	+1658.7%
Q1 25	9M	+0.1%	+750.1%
Q2 25	9M	+5.8%	+662.0%
Q3 25	10M	+8.0%	+431.4%
Q4 25	16M	+66.5%	+90.4%
Q1 26	53M	+222.6%	+513.7%
Q2 26	99M	+87.1%	+985.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$191.3K	4
Q1 22	$4.7K	18
Q2 22	$0	18
Q3 22	$100.0K	18
Q1 23	$0	31
Q2 23	$0	31
Q4 23	$0	23
Q1 24	$2.2K	23
Q2 24	$0	23
Q4 24	$10.9K	16
Q1 25	$0	16
Q2 25	$12.5K	16
Q3 25	$0	16
Q4 25	$10.0K	20
Q1 26	$5.0K	20
Q2 26	$0	20

Revenue / Employee