Agenus Inc. (AGEN) Income Statement
AGEN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAGEN revenue and net income
Where AGEN's revenue goes
2025Each bar shows an amount and its share of revenue. AGEN kept 0.1% of revenue as net income.
AGEN profit margins
AGEN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.4% | +5.2% | +5.3% | +16.5% |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AGEN quarterly EPS vs estimates
Agenus beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $0.01).
AGEN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $114.2M | $103.5M | $156.3M | $98.0M | $295.7M | $88.2M | $150.0M | $36.8M | $42.9M | $22.6M |
| Cost of revenue | $80.4M | $156.0M | $237.7M | $197.3M | $182.1M | $145.0M | $168.3M | $124.6M | $116.1M | $95.0M |
| Gross profit | $33.8M | −$52.6M | −$81.4M | −$99.2M | $113.6M | −$56.8M | −$18.3M | −$87.8M | −$73.2M | −$72.4M |
| Research & development | $79.3M | $155.5M | $234.6M | $17.0M | $178.6M | $142.6M | $168.3M | $124.6M | $116.1M | $95.0M |
| Sales, general & admin | $54.4M | $71.9M | $78.7M | $81.0M | $76.4M | $59.2M | $46.0M | $37.3M | $33.7M | $33.1M |
| Total operating expenses | $54.4M | $67.9M | $78.2M | $80.2M | $87.8M | $60.4M | $51.8M | $37.3M | $33.7M | $33.1M |
| Operating income | −$20.6M | −$120.5M | −$159.5M | −$179.4M | $25.7M | −$117.2M | −$70.1M | −$123.8M | −$103.8M | −$107.5M |
| Interest income | — | — | — | — | — | — | $41.5M | $25.3M | $18.9M | $17.3M |
| Interest expense | $55.3M | $117.6M | $97.9M | $61.9M | $65.7M | $61.1M | $41.5M | $25.3M | $18.9M | $17.3M |
| Income before taxes | −$3.1M | −$232.3M | −$257.4M | −$230.7M | −$28.7M | −$182.9M | −$111.6M | −$162.0M | −$120.7M | −$127.0M |
| Income taxes | — | — | −$11.7M | $40.9M | $66.0M | $57.2M | $37.6M | −$12.9M | −$9.2M | −$3.0M |
| Net income | $115,000 | −$227.2M | −$245.8M | −$220.1M | −$23.9M | −$180.9M | −$107.7M | −$159.7M | −$120.7M | −$127.0M |
| EBITDA | $62.2M | −$101.3M | −$145.9M | −$161.8M | $43.8M | −$114.6M | −$63.4M | −$130.5M | −$95.8M | −$104.7M |
| EPS (diluted) | −$2.51 | −$10.68 | −$7.55 | −$15.80 | $0.84 | −$11.71 | −$15.75 | −$18.51 | −$17.61 | −$12.12 |
| Gross margin | 29.6% | −50.8% | −52.1% | −101.2% | 38.4% | −64.4% | −12.2% | −238.7% | −170.8% | −320.7% |
| Operating margin | −18.0% | −116.4% | −102.1% | −183.0% | 8.7% | −133.0% | −46.7% | −336.6% | −242.1% | −476.1% |
| Net margin | 0.1% | −219.6% | −157.2% | −224.5% | −8.1% | −205.2% | −71.7% | −434.1% | −281.5% | −562.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.5M | $33.7M | $34.2M | $30.2M | $25.7M | $24.1M | $26.8M | $25.1M | $23.5M | $28.0M | $83.8M | $24.3M |
| Cost of revenue | $14.8M | $583,000 | $7.5M | $642,000 | $243,000 | $137,000 | $118,000 | $146,000 | $115,000 | $3.5M | $67.0M | $51.7M |
| Gross profit | $34.5M | $33.7M | $34.2M | $29.6M | $25.4M | $23.9M | $26.7M | $25.0M | $23.4M | $24.5M | $16.8M | −$27.4M |
| Research & development | $14.8M | $11.8M | $7.5M | $23.6M | $26.7M | $21.5M | $33.8M | $41.1M | $36.8M | $43.9M | $66.7M | $51.4M |
| Sales, general & admin | $8.5M | $6.9M | $12.3M | $10.9M | $15.5M | $15.7M | $20.9M | $17.3M | $16.8M | $16.9M | $21.2M | $18.9M |
| Total operating expenses | $23.2M | $18.7M | $19.8M | $34.1M | $42.2M | $37.2M | $52.6M | $56.5M | $53.6M | $57.4M | $21.0M | $18.9M |
| Operating income | $11.3M | $15.1M | $14.4M | −$4.5M | −$16.7M | −$13.3M | −$25.9M | −$31.5M | −$30.2M | −$32.9M | −$4.2M | −$46.3M |
| Interest expense | $15.2M | $14.7M | $16.0M | $13.2M | $13.3M | $12.8M | $20.7M | $35.7M | $31.7M | $29.5M | $44.2M | $18.6M |
| Income before taxes | −$567,000 | $39.2M | −$10.6M | $63.9M | −$30.0M | −$26.4M | −$46.8M | −$67.2M | −$54.8M | −$63.5M | −$48.6M | −$64.5M |
| Income taxes | — | — | — | — | — | — | — | — | −$1.7M | −$1.6M | −$2.3M | $16.7M |
| Net income | −$550,000 | $39.2M | −$10.6M | $63.9M | −$28.0M | −$25.3M | −$45.9M | −$66.4M | −$53.1M | −$61.9M | −$46.3M | −$62.2M |
| EBITDA | $15.2M | $54.5M | $6.0M | $80.1M | −$13.6M | −$10.4M | −$22.9M | −$28.1M | −$19.7M | −$30.6M | $799,000 | −$43.0M |
| EPS (diluted) | −$0.01 | −$0.03 | $0.68 | −$1.16 | −$1.00 | −$1.03 | −$2.04 | −$3.08 | −$2.52 | −$3.04 | −$0.13 | −$3.20 |
| Gross margin | 100.0% | 100.0% | 100.0% | 97.9% | 99.1% | 99.4% | 99.6% | 99.4% | 99.5% | 87.6% | 20.1% | −112.8% |
| Operating margin | 32.7% | 44.6% | 42.1% | −15.0% | −65.0% | −55.3% | −96.5% | −125.5% | −128.4% | −117.4% | −5.0% | −190.6% |
| Net margin | −1.6% | 116.3% | −30.9% | 211.4% | −108.8% | −105.0% | −170.9% | −264.4% | −225.8% | −221.0% | −55.2% | −255.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AGEN's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AGEN financial results
In fiscal year 2025 (ended December 31, 2025), Agenus reported revenue of $114.2 million, up 10.4% from the year before. It had net income of $0.1 million, a net profit margin of 0.1%. Diluted earnings per share came to −$2.51. Over five years revenue grew at an average rate of 5.3% a year.
See the AGEN stock overview for the latest quote and news, or the AGEN chart for price history and technical indicators.
AGEN income statement FAQ
What is Agenus's annual revenue?
Agenus reported total revenue of $114.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 10.4% from $103.5 million the previous year.
Is Agenus profitable?
Yes. Agenus reported net income of $0.1 million in fiscal 2025, a net profit margin of 0.1%; its operating margin was −18.0%.
What is Agenus's gross margin?
Agenus's gross margin was 29.6% in fiscal 2025: for every $100 of revenue, Agenus kept $30 after the direct cost of its products and services.
How much does Agenus spend on research and development?
Agenus spent $79.3 million on research and development in fiscal 2025, 69.5% of revenue.
How fast is Agenus growing?
Revenue grew 5.3% a year on average over the last five fiscal years, from $88.2 million to $114.2 million.
What are Agenus's earnings per share?
Agenus earned $-2.51 per diluted share in fiscal 2025, compared with $-10.68 a year earlier.
When will Agenus report its next earnings?
Agenus is expected to report results for the quarter ending September 30, 2026 on November 9, 2026.
When does Agenus's fiscal year end?
Agenus's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.