IMA ImageneBio, Inc.

Overview and Growth

ImageneBio, Inc. generated $800.00K of revenue in fiscal 2025, with net loss of $45.35M and an operating cash outflow of $47.84M. At $800.00K, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 77.1% from $3.50M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was -$9.64, which connects the reported earnings outcome with the company’s diluted share count. The company employed $152.98M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.01x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The reported operating result was an operating loss of $48.45M, reflecting costs that exceeded gross profit. The company ended the period with a net loss of $45.35M, extending the operating result through all remaining items. The company reported negative EBITDA of $48.05M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The pretax result was a loss of $45.70M, establishing the deficit before tax effects. The reported tax benefit was $350.00K, favorably bridging the pretax and after-tax results. The loss-to-equity relationship was 34.1%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 29.6%. The bottom-line deficit increased from $36.57M in fiscal 2024 to $45.35M.

Liquidity and Capital Structure

Total assets were $152.98M, supported by $19.84M of liabilities and $133.14M of shareholder equity. Current assets were $140.29M against $11.23M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 12.49x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $94.53M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 841.5% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $0.00, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.0x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 0.0%, showing how much of the asset base was matched by borrowing. The equity-to-assets relationship was 87.0%, placing book capital against the total resource base. The liabilities-to-assets relationship was 13.0%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 61.8% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 860.8% higher than fiscal 2024 assets of $15.92M, measuring the company’s own balance-sheet change. Compared with $12.12M in fiscal 2024, the current cash balance moved 680.1% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $47.84M, showing that operations absorbed cash during the period. Cash absorbed by operations increased from $21.32M in fiscal 2024 to $47.84M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.