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ImmunityBio reported Q2 FY2026 revenue of $51.2 million, above the consensus of $48.5 million. Adjusted earnings per share were −$0.08, compared with the consensus estimate of −$0.09. On a diluted basis, the company reported a loss per share of −$0.22, compared with −$0.10 a year earlier.
Revenue rose from $26.4 million a year earlier, with the filing attributing higher product revenue to increased ANKTIVA sales. ImmunityBio also reported higher other revenue, primarily from bioreactor and related consumable sales.
Gross margin was 99.4%, compared with 99.5% a year earlier. The filing said pre-approval ANKTIVA production costs were expensed as research and development rather than included in cost of sales, and expects product gross margin to normalize as those inventories are depleted. Operating margin was −120.4%, compared with −269.8% a year earlier.
The filing attributed an increase in other expense partly to fair-value changes in a convertible note and warrant liabilities. ImmunityBio reported free cash flow of −$70.0 million, compared with −$80.8 million a year earlier.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $51.2 million | $26.4 million | 93.9% |
| Diluted EPS | −$0.22 | −$0.10 | — |
| Gross margin | 99.4% | 99.5% | −0.1 percentage points |
| Operating margin | −120.4% | −269.8% | 149.4 percentage points |
| Free cash flow | −$70.0 million | −$80.8 million | — |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | −$0.08 | −$0.09 | Beat by 11.1% |
| Revenue | $51.2 million | $48.5 million | Beat by 5.76% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
ImmunityBio’s latest earnings call is not available, so its executives’ call commentary and analysts’ questions cannot be reported.
Guidance
ImmunityBio’s management guidance is not available, so its current outlook cannot be compared with a previous guide, and any changes or discontinued guidance cannot be identified.