Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.4M | $42.2M | $30.5M | $4.11M | $7.41M | $1.77M | $10.3M | $832K | $218K | $65.3K |
| Revenue growth | — | 19.4% | -27.8% | -86.5% | 80.2% | -76.1% | 478.2% | -91.9% | -73.8% | -70.0% |
| Operating income | -$76.2M | -$83.6M | -$94.1M | -$111M | -$124M | -$301M | -$268M | -$144M | -$112M | -$86.8M |
| Operating margin | -215.5% | -198.1% | -308.7% | -2702.1% | -1674.2% | -16972.3% | -2607.4% | -17300.3% | -51616.9% | -132871.3% |
| Net income | -$73.7M | -$88.2M | -$97.0M | -$119M | -$166M | -$304M | -$280M | -$135M | -$107M | -$84.9M |
| Net margin | -208.5% | -208.9% | -318.1% | -2902.8% | -2245.4% | -17109.9% | -2726.7% | -16239.9% | -49254.3% | -130000.0% |
| EPS (diluted) | -$1.01 | -$1.09 | -$1.05 | -$1.21 | -$1.07 | -$17.45 | -$14.07 | -$6.09 | -$3.95 | -$1.81 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$62.6M | -$63.2M | -$73.6M | -$97.9M | -$178M | -$216M | -$216M | -$124M | -$104M | -$88.6M |
| Capital expenditures | $2.74M | $10.3M | $2.09M | $988K | $1.52M | $1.23M | $969K | $321K | $488K | $286K |
| Free cash flow | -$65.3M | -$73.5M | -$75.6M | -$98.8M | -$179M | -$217M | -$217M | -$125M | -$105M | -$88.9M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $19.1M | $23.8M | $23.7M | $22.2M | $251M | $71.1M | $46.3M | $14.3M | $65.8M | $44.3M |
| Total assets | $174M | $187M | $131M | $144M | $540M | $496M | $349M | $171M | $113M | $74.3M |
| Total liabilities | $50.3M | $44.8M | $44.1M | $139M | $78.6M | $96.3M | $126M | $53.6M | $44.7M | $50.2M |
| Shareholders' equity | $123M | $142M | $86.9M | $3.44M | $461M | $400M | $222M | $117M | $68.5M | $24.1M |
| Retained earnings | -$435M | -$523M | -$620M | -$740M | -$906M | -$1.21B | -$1.49B | -$1.62B | -$1.73B | -$1.82B |
| Shares (wtd avg diluted) | 73.2M | 81.9M | 92.5M | 98.7M | 155M | 17.4M | 19.9M | 22.2M | 27.2M | 46.9M |
Every figure is extracted from INOVIO PHARMACEUTICALS, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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