Immatics N.V. (IMTX) Income Statement
IMTX 2025 at a glance
Fiscal year ended December 31, 2025 · eurosIMTX revenue and net income
Where IMTX's revenue goes
2025Each bar shows an amount and its share of revenue. IMTX kept −407.0% of revenue as net income.
IMTX profit margins
IMTX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −69.0% | −34.6% | +9.1% | — |
| Gross profit | −69.0% | −34.6% | — | — |
| Operating income | — | — | — | — |
| Net income | −1,390.9% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IMTX income statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €48.3M | €155.8M | €54.0M | €172.8M | €34.8M | €31.3M | €18.4M | €3.8M |
| Cost of revenue | €0 | €148.1M | €118.7M | €106.8M | €87.6M | €67.1M | €40.1M | €34.0M |
| Gross profit | €48.3M | €155.8M | €54.0M | €172.8M | €34.8M | −€35.8M | −€21.6M | −€30.2M |
| Research & development | €183.8M | €148.1M | €118.7M | €106.8M | €87.6M | €67.1M | €40.1M | €34.0M |
| Sales, general & admin | €51.2M | €46.4M | €38.2M | €36.1M | €33.8M | €34.1M | €11.8M | €7.7M |
| Total operating expenses | €230.3M | €194.4M | €155.7M | €142.9M | €121.1M | €33.9M | €51.5M | €38.2M |
| Operating income | −€182.0M | −€38.6M | −€101.7M | €30.0M | −€86.3M | −€69.7M | −€33.0M | −€34.4M |
| Interest income | €17.2M | €25.0M | €13.8M | €2.5M | €5.7M | €850,000 | €3.4M | €738,280 |
| Interest expense | €946,000 | €886,000 | €831,000 | €1.0M | €566,000 | €289,000 | €170,000 | €16,000 |
| Income before taxes | −€198.4M | €21.3M | −€97.0M | €42.0M | −€93.3M | −€211.8M | −€32.5M | −€32.4M |
| Income taxes | −€2.0M | €6.1M | −€2.3M | €14.3M | €1.7M | −€268,000 | −€746,000 | −€3.0M |
| Net income | −€196.4M | €15.2M | −€94.6M | €27.7M | −€93.3M | −€211.3M | −€31.7M | −€31.4M |
| EBITDA | −€185.1M | €34.5M | −€88.9M | €50.0M | −€87.5M | −€67.5M | −€28.5M | −€31.7M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | −114.7% | −117.3% | −801.1% |
| Operating margin | −377.1% | −24.8% | −188.4% | 17.3% | −248.2% | −223.1% | −178.9% | −912.7% |
| Net margin | −407.0% | 9.8% | −175.3% | 16.0% | −268.5% | −676.0% | −172.0% | −834.1% |
| 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 | €9.1M | €7.6M | €19.8M | €5.2M | €4.7M | €18.6M | €56.3M | €50.6M | €18.8M | €30.3M | €15.9M | €5.9M |
| Cost of revenue | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €38.9M | €94,860 | €32.1M | €33.3M | €30.5M |
| Gross profit | €9.1M | €7.6M | €19.8M | €5.2M | €4.7M | €18.6M | €56.3M | €50.6M | €18.8M | €30.3M | €15.9M | −€24.6M |
| Research & development | €62.4M | €59.2M | €49.6M | €47.2M | €45.1M | €41.9M | €41.8M | €38.9M | €35.2M | €32.1M | €33.3M | €30.5M |
| Sales, general & admin | €13.9M | €14.5M | €13.7M | €12.7M | €12.8M | €12.1M | €13.5M | €11.2M | €10.1M | €11.6M | €10.4M | €8.9M |
| Total operating expenses | €76.3M | €73.7M | €58.6M | €59.8M | €57.9M | €54.0M | €55.3M | €50.0M | €45.3M | €43.7M | €43.6M | €8.7M |
| Operating income | −€67.2M | −€66.1M | −€38.9M | −€54.6M | −€53.1M | −€35.4M | €903,000 | €514,000 | −€26.6M | −€13.5M | −€27.7M | −€33.3M |
| Interest income | €3.3M | €3.6M | €3.5M | €3.9M | €4.3M | €5.5M | €6.8M | €5.5M | €6.4M | €6.3M | €4.9M | €4.0M |
| Interest expense | €203,000 | €212,000 | €222,000 | €231,000 | €244,000 | €249,000 | €232,000 | €235,000 | €226,000 | €194,000 | €211,000 | €218,000 |
| Income before taxes | −€62.8M | −€57.8M | −€35.6M | −€50.7M | −€71.3M | −€40.8M | €43.3M | −€2.4M | −€17.9M | −€1.7M | −€26.1M | −€26.5M |
| Income taxes | −€274,000 | €52,000 | €134,000 | −€127,000 | −€1.0M | −€994,000 | −€1.6M | €6.2M | €140,000 | €518,000 | €211,000 | €218,000 |
| Net income | −€62.5M | −€57.8M | −€35.7M | −€50.5M | −€70.3M | −€39.9M | €44.9M | −€8.6M | −€18.0M | −€2.2M | −€26.1M | −€26.5M |
| EBITDA | −€59.5M | −€54.8M | −€32.2M | −€47.4M | −€68.1M | −€37.5M | €46.6M | €915,000 | −€14.5M | €1.5M | −€24.1M | −€31.5M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | −414.6% |
| Operating margin | −735.0% | −867.9% | −196.8% | −1,053.3% | −1,121.5% | −190.4% | 1.6% | 1.0% | −141.6% | −44.5% | −174.1% | −561.4% |
| Net margin | −683.4% | −759.5% | −180.6% | −974.5% | −1,485.1% | −214.5% | 79.8% | −17.0% | −95.9% | −7.4% | −164.2% | −447.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported in IMTX's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IMTX financial results
In fiscal year 2025 (ended December 31, 2025), Immatics reported revenue of €48.3 million, down 69.0% from the year before. It had a net loss of €196.4 million, a net profit margin of −407.0%. Over five years revenue grew at an average rate of 9.1% a year. Figures are in euros, the currency of its financial statements.
See the IMTX stock overview for the latest quote and news, or the IMTX chart for price history and technical indicators.
IMTX income statement FAQ
What is Immatics's annual revenue?
Immatics reported total revenue of €48.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 69.0% from €155.8 million the previous year.
Is Immatics profitable?
No. Immatics reported a net loss of €196.4 million in fiscal 2025, a net profit margin of −407.0%; its operating margin was −377.1%.
What is Immatics's gross margin?
Immatics's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Immatics kept $100 after the direct cost of its products and services.
How much does Immatics spend on research and development?
Immatics spent €183.8 million on research and development in fiscal 2025, 380.9% of revenue.
How fast is Immatics growing?
Revenue grew 9.1% a year on average over the last five fiscal years, from €31.3 million to €48.3 million.
When will Immatics report its next earnings?
Immatics is expected to report results for the quarter ending September 30, 2026 on November 16, 2026.
When does Immatics's fiscal year end?
Immatics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.