Lyell Immunopharma, Inc. (LYEL) Income Statement
LYEL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLYEL revenue and net income
Where LYEL's revenue goes
2025Each bar shows an amount and its share of revenue. LYEL kept −762,355.6% of revenue as net income.
LYEL profit margins
LYEL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −41.0% | −92.5% | −65.9% | — |
| Gross profit | −18,957.4% | — | — | — |
| 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.
LYEL quarterly EPS vs estimates
Lyell Immunopharma beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 11, 2026 (estimate $-2.06).
LYEL income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $36,000 | $61,000 | $130,000 | $84.7M | $10.7M | $7.8M | $657,000 |
| Cost of revenue | $11.5M | $0 | $20.2M | $16.5M | $14.5M | $7.5M | $0 |
| Gross profit | −$11.5M | $61,000 | $130,000 | $84.7M | $10.7M | $7.8M | $657,000 |
| Research & development | $158.7M | $171.6M | $182.9M | $159.2M | $138.7M | $182.2M | $63.6M |
| Sales, general & admin | $45.1M | $52.0M | $67.0M | $117.3M | $89.1M | $46.9M | $39.2M |
| Total operating expenses | $192.3M | $358.8M | $247.1M | $271.7M | $225.4M | $219.7M | $102.7M |
| Operating income | −$203.8M | −$358.8M | −$247.0M | −$187.1M | −$214.8M | −$211.9M | −$102.1M |
| Interest income | $13.1M | $24.1M | $23.5M | $7.1M | $1.2M | $5.9M | $8.1M |
| Interest expense | — | — | — | — | $1.2M | $5.9M | $0 |
| Income before taxes | −$274.4M | −$343.0M | −$234.6M | −$183.1M | −$250.2M | −$204.5M | −$129.4M |
| Income taxes | — | — | −$10.5M | −$178.4M | $35.3M | −$5.9M | −$8.1M |
| Net income | −$274.4M | −$343.0M | −$234.6M | −$183.1M | −$250.2M | −$204.5M | −$129.4M |
| EBITDA | −$262.9M | −$200.6M | −$214.4M | −$165.1M | −$236.6M | −$215.4M | −$100.8M |
| EPS (diluted) | −$16.30 | −$7.68 | −$14.14 | −$8.49 | −$22.00 | −$3.19 | −$2.82 |
| Gross margin | −31,952.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −566,038.9% | −588,123.0% | −190,006.2% | −220.9% | −2,016.7% | −2,732.6% | −15,538.7% |
| Net margin | −762,355.6% | −562,285.2% | −180,486.2% | −216.2% | −2,349.5% | −2,636.3% | −19,692.1% |
| 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 | $4,000 | $2,000 | $6,000 | $15,000 | $8,000 | $7,000 | $11,000 | $34,000 | $13,000 | $3,000 | $13,000 | $25,000 |
| Cost of revenue | $0 | $2.3M | $2.4M | $0 | $3.1M | $0 | $5.0M | $0 | $4.9M | $5.0M | $5.1M | $5.1M |
| Gross profit | $4,000 | −$2.3M | $6,000 | $15,000 | $8,000 | $7,000 | $11,000 | $34,000 | $13,000 | $3,000 | −$5.0M | −$5.1M |
| Research & development | $39.5M | $36.6M | $52.2M | $28.2M | $34.9M | $43.4M | $48.7M | $39.5M | $40.3M | $43.2M | $41.6M | $40.0M |
| Sales, general & admin | $9.6M | $9.6M | $10.6M | $10.7M | $9.8M | $14.0M | $14.5M | $11.8M | $12.3M | $13.5M | $13.2M | $15.5M |
| Total operating expenses | $47.3M | $43.8M | $61.3M | $37.3M | $47.1M | $57.4M | $201.2M | $50.5M | $51.5M | $55.6M | $54.8M | $55.5M |
| Operating income | −$47.3M | −$46.2M | −$61.3M | −$37.3M | −$47.1M | −$57.4M | −$201.1M | −$50.5M | −$51.5M | −$55.6M | −$59.8M | −$60.6M |
| Interest income | $2.2M | $2.2M | $2.7M | $3.3M | $3.3M | $3.9M | $4.9M | $6.0M | $6.4M | $6.8M | $7.1M | $6.6M |
| Income before taxes | −$44.8M | −$24.2M | −$140.7M | −$38.8M | −$42.7M | −$52.2M | −$191.9M | −$44.6M | −$45.8M | −$60.7M | −$52.9M | −$50.9M |
| Income taxes | — | — | — | — | — | — | — | — | — | $5.0M | $5.0M | −$6.6M |
| Net income | −$44.8M | −$24.2M | −$140.7M | −$38.8M | −$42.7M | −$52.2M | −$191.9M | −$44.6M | −$45.8M | −$60.7M | −$52.9M | −$50.9M |
| EBITDA | −$42.5M | −$21.8M | −$138.3M | −$36.3M | −$42.6M | −$48.8M | −$57.6M | −$39.9M | −$40.9M | −$55.6M | −$47.9M | −$45.7M |
| EPS (diluted) | −$1.92 | −$1.10 | −$7.68 | −$2.13 | −$2.89 | −$3.60 | −$0.45 | −$3.40 | −$3.60 | −$0.24 | −$3.47 | −$3.43 |
| Gross margin | 100.0% | −116,500.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | −38,800.0% | −20,316.0% |
| Operating margin | −1,183,425.0% | −2,307,850.0% | −1,021,866.7% | −248,353.3% | −589,250.0% | −819,528.6% | −1,828,609.1% | −148,544.1% | −396,369.2% | −1,852,500.0% | −460,230.8% | −242,308.0% |
| Net margin | −1,118,875.0% | −1,207,650.0% | −2,345,383.3% | −258,973.3% | −533,550.0% | −745,642.9% | −1,744,863.6% | −131,126.5% | −352,376.9% | −2,022,233.3% | −407,153.8% | −203,412.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LYEL's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LYEL financial results
In fiscal year 2025 (ended December 31, 2025), Lyell Immunopharma reported revenue of $0.0 million, down 41.0% from the year before. It had a net loss of $274.4 million, a net profit margin of −762,355.6%. Diluted earnings per share came to −$16.30. Over five years revenue grew at an average rate of −65.9% a year.
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LYEL income statement FAQ
What is Lyell Immunopharma's annual revenue?
Lyell Immunopharma reported total revenue of $0.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 41.0% from $0.1 million the previous year.
Is Lyell Immunopharma profitable?
No. Lyell Immunopharma reported a net loss of $274.4 million in fiscal 2025, a net profit margin of −762,355.6%; its operating margin was −566,038.9%.
What is Lyell Immunopharma's gross margin?
Lyell Immunopharma's gross margin was −31,952.8% in fiscal 2025: for every $100 of revenue, Lyell Immunopharma kept $-31953 after the direct cost of its products and services.
How much does Lyell Immunopharma spend on research and development?
Lyell Immunopharma spent $158.7 million on research and development in fiscal 2025, 440,763.9% of revenue.
How fast is Lyell Immunopharma growing?
Revenue grew −65.9% a year on average over the last five fiscal years, from $7.8 million to $0.0 million.
What are Lyell Immunopharma's earnings per share?
Lyell Immunopharma earned $-16.30 per diluted share in fiscal 2025, compared with $-7.68 a year earlier.
When will Lyell Immunopharma report its next earnings?
Lyell Immunopharma is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Lyell Immunopharma's fiscal year end?
Lyell Immunopharma's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.