IMVT

MKT CAP:$6B

Immunovant, Inc.

Market Cap

$6B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$28.53+$2.62 (+10.11%)

Apr 20, 2026

Company Details

Immunovant, Inc., a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that selectively binds to and inhibits th...

CEO

Eric Venker

IPO Date

Jun 21, 2019

Website

immunovant.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$464M

EPS (Diluted)

-$2.69

Free Cash Flow

-$423M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q3 2026

Feb 6, 2026

$0EPS -$0.61

Q2 2026

Nov 10, 2025

$0EPS -$0.73

Q1 2026

Aug 11, 2025

$0EPS -$0.71

FY 2025

May 29, 2025

$0EPS -$2.73

Q4 2025

May 29, 2025

$0EPS -$0.64

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$0	$0	-$47M
Q1 23	$0	$0	-$40M
Q2 23	$0	$0	-$50M
Q3 23	$0	$0	-$54M
Q4 23	$0	$0	-$64M
Q1 24	$0	$0	-$66M
Q2 24	$0	$0	-$62M
Q3 24	$0	$0	-$62M
Q4 24	$0	$0	-$81M
Q1 25	$0	$0	-$94M
Q2 25	$0	$0	-$116M
Q3 25	$0	$0	-$114M
Q4 25	$0	$0	-$114M
Q1 26	$0	$0	-$127M
Q2 26	$0	-$105.0K	-$132M
Q3 26	$0	-$101.0K	-$114M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$33M	-$33M
Q1 23	-$66M	-$66M
Q2 23	-$20M	-$20M
Q3 23	-$46M	-$46M
Q4 23	-$56M	-$56M
Q1 24	-$47M	-$47M
Q2 24	-$60M	-$60M
Q3 24	-$47M	-$47M
Q4 24	-$60M	-$60M
Q1 25	-$76M	-$76M
Q2 25	-$89M	-$89M
Q3 25	-$100M	-$101M
Q4 25	-$111M	-$111M
Q1 26	-$117M	-$117M
Q2 26	-$103M	-$103M
Q3 26	-$92M	-$92M

Capital Expenditures

Quarter	CapEx
Q4 22	$118.0K
Q1 23	$42.0K
Q2 23	$31.0K
Q3 23	$98.0K
Q4 23	$26.0K
Q1 24	$45.0K
Q2 24	$34.0K
Q3 24	$131.0K
Q4 24	$150.0K
Q1 25	$182.0K
Q2 25	$196.0K
Q3 25	$180.0K
Q4 25	$201.0K
Q1 26	$0
Q2 26	$0
Q3 26	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	—	+63.3%
Q1 23	—	+35.1%
Q2 23	—	+31.8%
Q3 23	—	+30.9%
Q4 23	—	+36.1%
Q1 24	—	+63.4%
Q2 24	—	+24.6%
Q3 24	—	+13.9%
Q4 24	—	+25.9%
Q1 25	—	+42.9%
Q2 25	—	+87.3%
Q3 25	—	+85.7%
Q4 25	—	+40.7%
Q1 26	—	+34.9%
Q2 26	—	+13.8%
Q3 26	—	+0.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$12M	—
Q1 23	$0	—
Q2 23	$8M	—
Q3 23	$0	—
Q4 23	$0	—
Q1 24	$0	—
Q2 24	$0	—
Q3 24	$10M	—
Q4 24	$10M	—
Q1 25	$13M	—
Q2 25	$13M	—
Q3 25	$12M	—
Q4 25	$12M	—
Q1 26	$19M	—
Q2 26	$13M	—
Q3 26	$13M	—

OpEx Breakdown

Quarter	R&D	G&A
Q4 22	$32M	$15M
Q1 23	$28M	$12M
Q2 23	$38M	$12M
Q3 23	$42M	$12M
Q4 23	$52M	$12M
Q1 24	$51M	$15M
Q2 24	$48M	$14M
Q3 24	$48M	$13M
Q4 24	$66M	$15M
Q1 25	$75M	$19M
Q2 25	$97M	$18M
Q3 25	$95M	$20M
Q4 25	$94M	$20M
Q1 26	$101M	$26M
Q2 26	$114M	$18M
Q3 26	$99M	$15M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$494M	$0	$494M
Q1 23	$427M	$0	$427M
Q2 23	$406M	$0	$406M
Q3 23	$433M	$0	$433M
Q4 23	$377M	$0	$377M
Q1 24	$330M	$0	$330M
Q2 24	$270M	$0	$270M
Q3 24	$691M	$0	$691M
Q4 24	$635M	$0	$635M
Q1 25	$560M	$0	$560M
Q2 25	$473M	$0	$473M
Q3 25	$375M	$0	$375M
Q4 25	$714M	$0	$714M
Q1 26	$599M	$0	$599M
Q2 26	$522M	$0	$522M
Q3 26	$995M	$0	$995M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	116M	+1.1%	+18.7%
Q1 23	117M	+0.2%	+19.0%
Q2 23	117M	+0.0%	+6.9%
Q3 23	129M	+10.3%	+11.8%
Q4 23	130M	+0.8%	+11.4%
Q1 24	131M	+0.7%	+12.0%
Q2 24	131M	+0.5%	+12.5%
Q3 24	145M	+10.2%	+12.4%
Q4 24	145M	+0.6%	+12.1%
Q1 25	146M	+0.5%	+11.9%
Q2 25	146M	+0.3%	+11.7%
Q3 25	147M	+0.3%	+1.7%
Q4 25	152M	+3.2%	+4.3%
Q1 26	171M	+12.7%	+17.0%
Q2 26	174M	+1.6%	+18.6%
Q3 26	182M	+4.5%	+23.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$0	124
Q1 23	$0	124
Q2 23	$0	124
Q3 23	$0	124
Q4 23	$0	164
Q1 24	$0	164
Q2 24	$0	164
Q3 24	$0	164
Q4 24	$0	207
Q1 25	$0	207
Q2 25	$0	207
Q3 25	$0	207
Q4 25	$0	362
Q1 26	$0	362
Q2 26	$0	362
Q3 26	$0	362

Revenue / Employee