Revenue
$65.34K
Fiscal year ended 2025-12-31Operating income
-$86.82M
Fiscal year ended 2025-12-31Free cash flow
-$88.92M
Fiscal year ended 2025-12-31INOVIO PHARMACEUTICALS, INC. (INO) reported revenue of $65.34K and net income of -$84.95M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from INOVIO PHARMACEUTICALS, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65.34K | $217.76K | $832.01K | $10.26M | $1.77M | $7.41M | $4.11M | $30.48M | $42.22M | $35.37M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | -$86.82M | -$112.40M | -$143.94M | -$267.57M | -$301.22M | -$124.08M | -$111.11M | -$94.09M | -$83.64M | -$76.24M |
| Net income | -$84.95M | -$107.25M | -$135.12M | -$279.82M | -$303.66M | -$166.41M | -$119.36M | -$96.97M | -$88.21M | -$73.74M |
| Research & development | $54.21M | $75.62M | $86.68M | $187.65M | $249.24M | $94.25M | $88.02M | $95.26M | $98.57M | $88.71M |
| Weighted-average diluted shares | shares 46.89M | shares 27.16M | shares 22.17M | shares 19.89M | shares 17.40M | shares 155.13M | shares 98.72M | shares 92.54M | shares 81.92M | shares 73.21M |
| Pretax income | -$84.95M | -$107.25M | -$135.12M | -$277.65M | -$303.22M | -$162.89M | -$120.81M | -$94.80M | -$88.21M | -$73.74M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 | $0 | -$257.34K | $2.17M | $0 | $0 |
| Diluted EPS | $-1.81 | $-3.95 | $-6.09 | $-14.07 | $-17.45 | $-1.07 | $-1.21 | $-1.05 | $-1.09 | $-1.01 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $32.68M | $37.00M | $47.58M | $90.19M | $53.75M | $37.25M | $27.20M | $29.32M | $28.29M | $23.89M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $44.27M | $65.81M | $14.31M | $46.33M | $71.14M | $250.73M | $22.20M | $23.69M | $23.79M | $19.14M |
| Total assets | $74.31M | $113.20M | $170.95M | $348.53M | $495.94M | $539.77M | $143.95M | $131.11M | $187.24M | $173.71M |
| Current assets | $61.12M | $97.83M | $153.11M | $315.24M | $448.44M | $471.17M | $94.20M | $87.81M | $138.36M | $124.60M |
| Total liabilities | $50.21M | $44.69M | $53.60M | $126.17M | $96.27M | $78.63M | $138.55M | $44.08M | $44.75M | $50.33M |
| Current liabilities | $43.67M | $35.33M | $42.57M | $96.87M | $65.74M | $41.71M | $31.99M | $35.30M | $35.41M | $43.82M |
| Total equity incl. NCI | $24.10M | $68.50M | $117.35M | $222.36M | $399.67M | $461.14M | $5.40M | $87.03M | $142.49M | $123.38M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $450 | $1.20M | $2.41M | $1.70M | $5.47M | $18.56M | $700.07K | $3.32M | $6.00M | $15.82M |
| Goodwill | Unavailable | Unavailable | $0 | $10.51M | $10.51M | $10.51M | $10.51M | $10.51M | $10.51M | $10.51M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $0 | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$88.63M | -$104.08M | -$124.37M | -$216.22M | -$215.71M | -$177.98M | -$97.85M | -$73.55M | -$63.21M | -$62.56M |
| Capital expenditures | $285.70K | $487.83K | $320.90K | $969.15K | $1.23M | $1.52M | $987.93K | $2.09M | $10.29M | $2.74M |
| Investing cash flow | $14.04M | $104.07M | $87.36M | $109.59M | -$175.34M | -$58.80M | -$9.04M | $42.42M | -$27.83M | $16.27M |
| Financing cash flow | $53.05M | $51.48M | $5.00M | $81.84M | $211.50M | $465.28M | $105.40M | $31.04M | $95.69M | $7.79M |
| Net change in cash | -$21.54M | $51.50M | -$32.02M | -$24.81M | -$179.58M | $228.53M | -$1.50M | -$92.95K | $4.65M | -$38.50M |
| Stock-based compensation | $3.76M | $6.60M | $11.07M | $22.56M | $26.34M | $15.65M | $10.90M | $10.65M | $13.07M | $10.48M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$88.92M | -$104.56M | -$124.69M | -$217.18M | -$216.94M | -$179.50M | -$98.84M | -$75.64M | -$73.50M | -$65.29M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | -132871.3% | -51616.9% | -17300.3% | -2607.4% | -16972.3% | -1674.2% | -2702.1% | -308.7% | -198.1% | -215.5% |
| FCF margin | -136074.5% | -48019.1% | -14986.2% | -2116.3% | -12223.6% | -2422.0% | -2403.7% | -248.1% | -174.1% | -184.6% |
| SBC / revenue | 5747.8% | 3028.7% | 1330.8% | 219.8% | 1484.0% | 211.1% | 265.1% | 35.0% | 31.0% | 29.6% |
| Current ratio | 1.40x | 2.77x | 3.60x | 3.25x | 6.82x | 11.30x | 2.94x | 2.49x | 3.91x | 2.84x |
| Revenue YoY growth | -70.0% | -73.8% | -91.9% | 478.2% | -76.1% | 80.2% | -86.5% | -27.8% | 19.4% | Unavailable |
| Net margin | -130000.0% | -49254.3% | -16239.9% | -2726.7% | -17109.9% | -2245.4% | -2902.8% | -318.1% | -208.9% | -208.5% |
| R&D / revenue | 82957.4% | 34727.1% | 10417.7% | 1828.5% | 14043.6% | 1271.7% | 2140.5% | 312.5% | 233.5% | 250.8% |
| CapEx / revenue | 437.2% | 224.0% | 38.6% | 9.4% | 69.4% | 20.5% | 24.0% | 6.8% | 24.4% | 7.7% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open INO in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-12View SEC filing
10-Q · Filed 2026-05-13View SEC filing
10-K · Filed 2026-03-12View SEC filing
10-Q · Filed 2025-11-10View SEC filing
10-Q · Filed 2025-08-12View SEC filing
10-Q · Filed 2025-05-13View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.