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ImmunityBio, Inc. IBRX Increase in fair value of embedded conversion feature from debt modification

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Other financials

Income statement

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Revenue$44.2M+168%
Gross profit$44.0M+167%
Operating income-$69.8M-8.3%
Net income-$632.8M-388%
EPS (diluted)-$0.62-313%

Balance sheet

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Cash & equivalents$205.2M+238%
Total debt$445.4M+32.2%
Total equity-$870.0M-47.1%
Total assets$646.6M+113%

Cash flow

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Operating cash flow-$75.4M+12.3%
CapEx$1.8M+58.4%
Free cash flow-$77.1M+11.4%

Valuation

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Market cap$7.71B+208%
Enterprise value$7.95B+187%
P/S54.7×-25.4×

Profitability

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Gross margin99.3%-0.5pp
Operating margin-185.4%-83.3pp
Net margin-606.2%-212pp
FCF margin-212%-95.8pp

Returns & leverage

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Return on equity-119.3%
Debt / equity0.1×
Current ratio6.7×+4.4×

Where this comes from

Reported directly by ImmunityBio, Inc. in its filing.

Tagged under the XBRL concept us-gaap:EmbeddedDerivativeGainOnEmbeddedDerivative.

The official record: ImmunityBio, Inc.’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is ImmunityBio, Inc.'s increase in fair value of embedded conversion feature from debt modification?
ImmunityBio, Inc. (IBRX) reported increase in fair value of embedded conversion feature from debt modification of $0 in Q4 2025.
What does increase in fair value of embedded conversion feature from debt modification mean?
The change in value of conversion options embedded in debt.
How do you interpret increase in fair value of embedded conversion feature from debt modification?
A gain indicates a decrease in the liability value, often due to changes in stock price or volatility assumptions.
How does increase in fair value of embedded conversion feature from debt modification compare across companies?
Common for companies with convertible debt featuring complex derivative components.