Revenue
5Y CAGR +59.6%5Y CAGR +59.6%YoY −1.4%$429.3M TTM$102.2M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
IMCR
$29.94-1.76%
Immunocore Holdings plc American Depositary SharesStock · HealthcareNasdaq Composite · 0.007% of ONEQ
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IMCR financial statements
The full income statement, balance sheet, and cash-flow statement for Immunocore Holdings plc American Depositary Shares (IMCR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Financial overview#
Gross profit
YoY −1.6%$424.4M TTM$101.5M Q3 '26
FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Operating income
5Y n/m5Y n/mYoY n/m−$29M TTM−$13.6M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Net income
5Y n/m5Y n/mYoY n/m−$32.1M TTM−$14.2M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
EPS (diluted)
5Y n/m5Y n/mYoY n/m−$0.62 TTM−$0.28 Q3 '26
FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Operating cash flow
5Y n/m5Y n/mYoY n/m−$10.4M TTM$20.1M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Capital expenditure
5Y CAGR +1.9%5Y CAGR +1.9%YoY +213.6%$7.8M TTM$2.3M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow
5Y n/m5Y n/mYoY n/m−$18.2M TTM$17.7M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares (diluted)
5Y +89.8%5Y +89.8%YoY +2.3%51.5M TTM51.6M Q3 '26
FY18FY19FY20FY21FY22FY23FY24FY25TTM
Q1 '23Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Dividend per share
5Y n/m5Y n/m$0.00 FY25
FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares outstanding (point-in-time)
2024-09 50.0M2024-12 50.1M2025-03 50.2M2025-06 50.4M2025-09 50.5M2025-12 50.7M2026-03 50.9M2026-06 51.5M2026-09 51.7M+3.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 400M+29.0% | 310M+24.4% | 249M+43.1% | 174M+377.9% | 36.5M-5.6% | |
| 395M+28.4% | 307M+23.8% | 248M+43.4% | 173M | — | ||
| Cost of revenue | 5.09M+86.3% | 2.73M+163.4% | 1.04M-4.8% | 1.09M | 0.00 | |
| Research & development | 275M+23.7% | 222M+35.8% | 164M+60.5% | 102M+1.7% | 100M+4.5% | |
| Selling, general & administrative | 165M+6.2% | 156M+7.8% | 144M+17.4% | 123M+11.0% | 111M | |
| Operating income | -45.4M+35.6% | -70.5M-18.1% | -59.6M-15.4% | -51.7M+70.4% | -175M-57.9% | |
| Interest expense | 12.2M-35.4% | 18.8M+265.6% | 5.15M-4.7% | 5.41M-2.9% | 5.57M+28.7% | |
| Interest & investment income | 16.5M-35.7% | 25.6M+42.4% | 18.0M+378.9% | 3.76M+5678.5% | 65.0K | |
| Other non-operating income | 19.7M+38.9% | 14.2M+1682.8% | -897K+46.6% | -1.68M-2200.0% | -73.0K | |
| Gain (loss) on equity securities | 19.7M+35.3% | 14.6M | 0.00 | 0.00 | — | |
| Pre-tax income | -19.1M+63.9% | -52.9M+13.1% | -60.9M-48.9% | -40.9M+77.3% | -180M-60.5% | |
| Income tax | 16.4M+987.2% | -1.85M+67.0% | -5.60M-148.1% | 11.7M+7673.3% | 150K+100.9% | |
| -35.5M+30.5% | -51.1M+7.6% | -55.3M-5.2% | -52.5M+70.8% | -180M-89.4% | ||
| Net income to common | -35.5M+30.5% | -51.1M+7.6% | -55.3M-5.2% | -52.5M+70.8% | -180M-89.4% | |
| -$0.71+30.4% | -$1.02+9.7% | -$1.13+1.7% | -$1.15+72.9% | -$4.24-18.5% | ||
| EPS (basic) | -$0.71+30.4% | -$1.02+9.7% | -$1.13+1.7% | -$1.15+72.9% | -$4.24-18.5% | |
| Weighted-avg shares (basic) | 50.3M+0.7% | 50.0M+2.3% | 48.9M+6.9% | 45.7M+7.6% | 42.5M+60.2% | |
| Weighted-avg shares (diluted) | 50.3M+0.7% | 50.0M+2.3% | 48.9M+6.9% | 45.7M+7.6% | 42.5M+60.2% | |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 997M+7.2% | 930M+75.8% | 529M+11.6% | 474M+33.7% | 355M+70.1% | ||
| Cash & equivalents | 468M+2.6% | 456M+3.0% | 443M+10.0% | 402M+25.3% | 321M+81.6% | |
| Short-term investments | 396M+8.7% | 365M | 0.00 | — | — | |
| Accounts receivable | — | 63.0M+21.0% | 52.1M+55.1% | 33.6M+63.6% | 20.5M+46.5% | |
| Inventory | 6.74M+23.8% | 5.45M+21.0% | 4.50M+550.4% | 692K | 0.00 | |
| Prepaid expenses | 51.9M+26.4% | 41.0M+38.6% | 29.6M-20.5% | 37.2M | — | |
| Other current assets | 6.75M-14.5% | 7.90M-18.7% | 9.71M+168.2% | 3.62M | — | |
| 1.07B+5.7% | 1.01B+69.1% | 597M+13.3% | 527M+29.3% | 407M+51.5% | ||
| Property, plant & equipment | 11.5M+13.6% | 10.1M+9.5% | 9.21M+17.6% | 7.83M-35.1% | 12.1M-35.6% | |
| Operating lease right-of-use | 38.8M+3.0% | 37.6M+12.3% | 33.5M+8.3% | 30.9M | — | |
| Deferred tax assets | 0.00-100.0% | 14.8M+34.8% | 11.0M+114.3% | 5.12M | — | |
| Other non-current assets | 20.3M+18.5% | 17.1M+18.3% | 14.5M+62.9% | 8.89M | — | |
| Total non-current assets | — | — | — | 52.6M-0.2% | 52.7M-12.6% | |
| 247M+16.3% | 212M+52.6% | 139M+37.9% | 101M+22.1% | 82.6M+10.2% | ||
| Accounts payable | 24.4M-2.9% | 25.1M+41.0% | 17.8M+23.2% | 14.4M | — | |
| Deferred revenue | 583K | 0.00 | 0.00-100.0% | 7.76M | — | |
| Short-term & current debt | — | — | 0.00 | — | — | |
| Current lease liability | 2.01M+29.7% | 1.55M+11.5% | 1.39M-26.2% | 1.88M | — | |
| 686M+5.8% | 649M+184.4% | 228M+21.5% | 188M+6.9% | 176M-9.1% | ||
| Long-term debt | 393M+0.5% | 391M+714.4% | 48.0M+0.8% | 47.6M-5.2% | 50.2M+0.6% | |
| Deferred revenue (non-current) | 4.86M-10.6% | 5.43M-1.5% | 5.51M+5.2% | 5.24M | — | |
| Non-current lease liability | 41.6M+3.5% | 40.2M+12.8% | 35.6M+12.1% | 31.8M | — | |
| Operating lease liability (total) | 43.6M+4.4% | 41.7M+15.8% | 36.0M | — | — | |
| 381M+5.6% | 361M-2.2% | 369M+8.8% | 339M+46.4% | 232M+206.9% | ||
| Common stock | 136K+0.7% | 135K+0.7% | 134K+3.9% | 129K | — | |
| Additional paid-in capital | 1.24B+4.2% | 1.19B+3.5% | 1.15B+6.2% | 1.08B | — | |
| Retained earnings | -831M-4.5% | -796M-6.9% | -745M-8.0% | -689M | — | |
| Accumulated other comprehensive income | -28.1M+16.8% | -33.8M+6.9% | -36.3M+33.7% | -54.7M | — | |
| Total equity incl. non-controlling | 381M+5.6% | 361M-2.2% | 369M+9.7% | 336M+45.1% | 232M+206.9% | |
| Total liabilities & equity | 1.07B+5.7% | 1.01B+69.1% | 597M+13.3% | 527M | — | |
| Common shares issued | 50.7M+1.2% | 50.1M+0.7% | 49.7M+3.4% | 48.1M | — | |
| Common shares outstanding | 50.7M+1.2% | 50.1M+0.7% | 49.7M+3.4% | 48.1M+22557.7% | 212K | |
| Shares outstanding (cover) | 50.7M+1.3% | 50.1M+0.5% | 49.8M+3.6% | 48.1M+9.6% | 43.9M+38.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -10.7M-141.1% | 26.1M+786.4% | 2.94M+106.0% | -49.2M+65.6% | -143M-82.1% | ||
| Depreciation & amortization | 3.27M-22.3% | 4.20M+2.8% | 4.09M-23.3% | 5.33M-29.7% | 7.59M | |
| Share-based compensation | 37.7M+10.3% | 34.2M+5.3% | 32.5M-1.3% | 32.9M-32.7% | 48.9M | |
| Deferred income taxes | 14.8M+486.9% | -3.82M+34.6% | -5.84M-238.1% | -1.73M-1958.1% | 93.0K | |
| Change in receivables | 7.34M-40.6% | 12.3M-30.9% | 17.9M-32.0% | 26.3M+440.1% | 4.86M | |
| Change in payables | -2.46M-133.8% | 7.27M+177.0% | 2.63M-46.6% | 4.91M+233.3% | 1.47M | |
| -16.3M+95.4% | -355M-6446.2% | -5.42M-146.9% | -2.20M-71.6% | -1.28M | ||
| Capital expenditure | 4.34M-16.1% | 5.17M-4.6% | 5.42M+146.3% | 2.20M+58.9% | 1.39M-64.9% | |
| Free cash flow | -15.1M-172.1% | 20.9M+940.6% | -2.48M+95.2% | -51.4M+64.4% | -144M-75.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 0.00-100.0% | 44.0K | 0.00-100.0% | 6.00K-94.3% | 106K | |
| 12.4M-96.4% | 344M+901.2% | 34.3M-76.4% | 145M-49.5% | 288M | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00-100.0% | 53.6M | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00-100.0% | 53.6M | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 144M-50.5% | 290M+119.7% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | 26.7M+1660.8% | -1.71M-120.6% | 8.29M+165.6% | -12.6M-2123.4% | 625K | |
| Income taxes paid | 4.64M+810.4% | 510K-47.8% | 977K+27.7% | 765K-95.5% | 17.0M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.76B+19.1% | 1.48B-60.1% | 3.70B+47.8% | 2.50B+66.7% | 1.50B | |
| P/S | 4.4×-7.6% | 4.8× | — | 68.6×+66.7% | 41.2× | |
| P/B | 4.6×+12.8% | 4.1×-60.6% | 10.4×-3.8% | 10.8×+66.7% | 6.5× | |
| P/FCF | — | 70.7× | — | — | — | |
| FCF yield | — | 1.4% | — | — | — | |
| Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | — | |
| Source filing | 10-K | 10-K | 10-K | 20-F | 20-F |
CEO pay#
As charts →| Fiscal year | CEO | Total, as reported | Actually paid | Other executives, average | $100 in the stock | $100 in peers |
|---|---|---|---|---|---|---|
| FY2025 | Dr.Jallal | $10.9M | $12.2M | $3.6M | $80.35 | $111.70 |
| FY2024 | Dr.Jallal | $12.9M | −$21.4M | $3.3M | $68.29 | $83.72 |
| FY2023 | Dr.Jallal | $11.7M | $22M | $2.9M | $158.15 | $84.19 |
| FY2022 | Dr.Jallal | $8M | $51.3M | $0 | $132.11 | $80.50 |
| FY2021 | Dr.Jallal | $34.8M | $71.3M | $0 | $79.26 | $89.56 |
From the pay-versus-performance table of each proxy statement (DEF 14A), the newest that states the year. “Actually paid” values stock awards at the year’s closing price, so it falls when the stock does. A year two chief executives shared lists each one’s pay, as reported / actually paid, and the totals are both. $100 in the stock and in the peer group the proxy names are the newest proxy’s, from the start of its first year.
About this data
Source: IMCR’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all IMCR filings on SEC EDGAR → Not investment advice.
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