Indaptus Therapeutics, Inc. (INDP) Income Statement
INDP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsINDP revenue and net income
INDP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| 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.
INDP quarterly EPS vs estimates
Indaptus Therapeutics beat the analyst EPS estimate in 5 of the last 7 quarters. Next report: November 11, 2026.
INDP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $735 | $1,284 | $1,781 | $1,403 | $852 | $854,000 | $859,000 | $829,000 | $701,000 |
| Gross profit | — | −$735 | −$1,284 | −$1,781 | −$1,403 | −$852 | −$854,000 | −$859,000 | −$829,000 | −$701,000 |
| Research & development | $9.3M | $7.3M | $7.6M | $6.3M | $2.5M | $2.7M | $26.7M | $35.4M | $24.3M | $10.1M |
| Sales, general & admin | $10.5M | $8.2M | $8.9M | $8.6M | $5.2M | $971,802 | $8.0M | — | — | — |
| Total operating expenses | $19.8M | $15.4M | $16.4M | $14.9M | $7.7M | $3.6M | $34.1M | $42.5M | $28.6M | $13.1M |
| Operating income | −$19.8M | −$15.4M | −$16.4M | −$14.9M | −$7.7M | −$3.6M | −$34.9M | −$43.3M | −$29.4M | −$13.8M |
| Interest income | — | — | — | $588,108 | $17,722 | $15,114 | — | — | — | — |
| Interest expense | — | — | — | $588,108 | $17,722 | $15,114 | $15,000 | $23,000 | $17,000 | $16,000 |
| Income before taxes | −$20.8M | −$15.0M | −$15.4M | −$14.3M | −$7.7M | −$3.6M | −$47.0M | −$43.4M | −$28.9M | −$13.4M |
| Income taxes | — | — | −$16.4M | −$588,108 | −$17,722 | −$15,114 | $638,000 | $103,000 | $29,000 | — |
| Net income | −$20.8M | −$15.0M | −$15.4M | −$14.3M | −$7.7M | −$3.6M | −$47.6M | −$43.5M | −$28.9M | −$13.4M |
| EBITDA | −$20.8M | −$15.0M | −$15.4M | −$14.3M | −$7.7M | −$3.6M | −$46.1M | −$42.6M | −$28.6M | −$13.1M |
| EPS (diluted) | −$30.22 | −$35.09 | −$25.07 | −$37.37 | −$38.21 | −$16.32 | −$89.60 | −$112.00 | −$125.60 | −$34.70 |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $1,470 | $0 | $0 | $0 | $1,928 | $0 |
| Cost of revenue | — | — | — | — | — | — | −$735 | — | — | $735 | $320 | $321 |
| Gross profit | — | — | — | — | — | — | $735 | — | — | −$735 | $1,608 | −$321 |
| Research & development | $363,127 | $491,134 | $2.8M | $1.5M | $2.2M | $2.8M | $2.5M | $1.5M | $1.7M | $1.6M | $2.0M | $2.2M |
| Sales, general & admin | $1.4M | $1.7M | $5.3M | $1.1M | $2.3M | $1.8M | $1.7M | $1.7M | $2.4M | $2.4M | $2.1M | $2.0M |
| Total operating expenses | $1.8M | $2.2M | $8.2M | $2.6M | $4.5M | $4.6M | $4.2M | $3.1M | $4.1M | $3.9M | $4.2M | $4.2M |
| Operating income | −$1.8M | −$2.2M | −$8.2M | −$2.6M | −$4.5M | −$4.6M | −$4.2M | −$3.1M | −$4.1M | −$3.9M | −$4.2M | −$4.2M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $201,928 | — |
| Income before taxes | −$1.8M | −$2.5M | −$8.1M | −$3.0M | −$5.2M | −$4.5M | −$4.1M | −$3.1M | −$4.0M | −$3.8M | −$4.0M | −$3.9M |
| Income taxes | — | — | — | — | — | — | −$4 | — | — | $4 | −$4.2M | $39,907 |
| Net income | −$1.8M | −$2.5M | −$8.1M | −$3.0M | −$5.2M | −$4.5M | −$4.1M | −$3.1M | −$4.0M | −$3.8M | −$4.0M | −$3.9M |
| EBITDA | −$1.8M | −$2.5M | −$8.1M | −$3.0M | −$5.2M | −$4.5M | −$4.1M | −$3.1M | −$4.0M | −$3.8M | −$4.0M | −$3.9M |
| EPS (diluted) | −$0.02 | — | −$9.19 | −$2.98 | −$9.09 | −$8.96 | −$0.37 | −$8.96 | −$13.16 | −$12.60 | −$0.48 | −$13.16 |
| Gross margin | — | — | — | — | — | — | 50.0% | — | — | — | 83.4% | — |
| Operating margin | — | — | — | — | — | — | −283,780.3% | — | — | — | −216,786.0% | — |
| Net margin | — | — | — | — | — | — | −281,023.6% | — | — | — | −207,613.1% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in INDP's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
INDP financial results
Indaptus Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $20.8 million. Diluted earnings per share came to −$30.22.
See the INDP stock overview for the latest quote and news, or the INDP chart for price history and technical indicators.
INDP income statement FAQ
Does Indaptus Therapeutics have revenue?
Indaptus Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Indaptus Therapeutics profitable?
No. Indaptus Therapeutics reported a net loss of $20.8 million in fiscal 2025.
How much does Indaptus Therapeutics spend on research and development?
Indaptus Therapeutics spent $9.3 million on research and development in fiscal 2025.
What are Indaptus Therapeutics's earnings per share?
Indaptus Therapeutics earned $-30.22 per diluted share in fiscal 2025, compared with $-35.09 a year earlier.
When will Indaptus Therapeutics report its next earnings?
Indaptus Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Indaptus Therapeutics's fiscal year end?
Indaptus Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 17, 2026.