AGEN · Agenus Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.74M | - | $30.23M | $25.69M | $24.07M | - | $25.11M | $23.51M | $28.00M | - |
| Cost of Revenue | $0 | - | $642.0K | $243.0K | $137.0K | - | $146.0K | $115.0K | $107.0K | - |
| Gross Profit | $33.74M | - | $29.59M | $25.45M | $23.93M | - | $24.97M | $23.39M | $27.90M | - |
| R&D | $11.82M | - | $23.60M | $26.71M | $21.52M | - | $41.06M | $36.77M | $43.92M | - |
| SG&A | $6.86M | - | $10.86M | $15.52M | $15.72M | - | $17.27M | $16.82M | $16.86M | - |
| Total Operating Expenses | $37.38M | - | - | - | - | - | - | - | - | - |
| D&A | $583.0K | - | - | - | $3.20M | - | - | - | $3.37M | - |
| Operating Income | $15.05M | - | ($4.54M) | ($16.71M) | ($13.31M) | - | ($31.50M) | ($30.19M) | ($32.88M) | - |
| Interest Expense | $14.69M | - | $36.75M | $32.28M | $30.27M | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | $39.17M | - | $63.86M | ($28.01M) | ($25.32M) | - | ($66.44M) | ($53.13M) | ($61.94M) | - |
| EPS - Basic | $1.03 | - | $2.00 | ($1.00) | ($1.03) | - | ($3.08) | ($2.52) | ($3.04) | - |
| EPS - Diluted | $1.02 | - | $1.94 | ($1.00) | ($1.03) | - | ($3.08) | ($2.52) | ($3.04) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $35.00M | $3.00M | $3.46M | $9.53M | $18.49M | $40.44M | $44.78M | $93.72M | $52.86M | $76.11M |
| Accounts Receivable | $6.56M | $1.83M | $538.0K | $709.0K | $354.0K | $407.0K | $207.0K | $719.0K | $476.0K | $25.84M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $71.08M | $82.99M | $85.29M | $74.40M | $64.24M | $61.47M | $45.90M | $50.84M | $50.69M | $61.45M |
| Current Assets | $95.28M | $133.44M | $133.95M | $13.34M | $23.14M | $45.57M | $50.15M | $100.00M | $60.35M | $112.42M |
| Total Assets | $186.46M | $226.80M | $233.89M | $185.22M | $200.20M | $226.27M | $238.48M | $292.42M | $256.56M | $313.91M |
| Current Liabilities | $249.24M | $323.49M | $287.13M | $234.56M | $208.30M | $221.40M | $270.64M | $270.67M | $256.00M | $255.90M |
| Long-term Debt | $30.19M | $0 | $23.60M | $23.15M | $32.85M | $30.47M | $0 | $0 | $0 | $12.77M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | ($221.22M) | ($271.11M) | ($274.14M) | ($354.60M) | ($341.85M) | ($326.38M) | ($292.34M) | ($241.31M) | ($201.43M) | ($160.33M) |
| Retained Earnings | ($2.14B) | ($2.18B) | ($2.17B) | ($2.24B) | ($2.21B) | ($2.18B) | ($2.14B) | ($2.07B) | ($2.02B) | ($1.96B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($35.95M) | - | - | - | ($25.62M) | - | - | - | ($38.19M) | - |
| Investing Cash Flow | $68.95M | - | - | - | $57.0K | - | - | - | $229.0K | - |
| Financing Cash Flow | ($993.0K) | - | - | - | $3.59M | - | - | - | $14.83M | - |
| CapEx | $0 | - | - | - | $5.0K | - | - | - | $35.0K | - |
| Free Cash Flow | ($35.95M) | - | - | - | ($25.62M) | - | - | - | ($38.23M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 100.0% | - | 97.9% | 99.1% | 99.4% | - | 99.4% | 99.5% | 99.6% | - |
| Operating margin | 44.6% | - | -15.0% | -65.0% | -55.3% | - | -125.5% | -128.4% | -117.4% | - |
| EBITDA margin | 46.4% | - | - | - | -42.0% | - | - | - | -105.4% | - |
| Net margin | 116.1% | - | 211.2% | -109.0% | -105.2% | - | -264.6% | -226.0% | -221.2% | - |
| Free cash flow margin | -106.6% | - | - | - | -106.5% | - | - | - | -136.5% | - |
| FCF / Net income | -0.92 | - | - | - | 1.01 | - | - | - | 0.62 | - |
| R&D / Revenue | 35.0% | - | 78.0% | 104.0% | 89.4% | - | 163.5% | 156.4% | 156.8% | - |
| SG&A / Revenue | 20.3% | - | 35.9% | 60.4% | 65.3% | - | 68.8% | 71.5% | 60.2% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | 21.0% | - | 27.3% | -15.1% | -12.6% | - | -27.9% | -18.2% | -24.1% | - |
| Return on equity | -17.7% | - | -23.3% | 7.9% | 7.4% | - | 22.7% | 22.0% | 30.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.38 | 0.41 | 0.47 | 0.06 | 0.11 | 0.21 | 0.19 | 0.37 | 0.24 | 0.44 |
| Quick ratio | 0.38 | 0.41 | 0.47 | 0.06 | 0.11 | 0.21 | 0.19 | 0.37 | 0.24 | 0.44 |
| Cash ratio | 0.14 | 0.01 | 0.01 | 0.04 | 0.09 | 0.18 | 0.17 | 0.35 | 0.21 | 0.30 |
| Leverage | ||||||||||
| Debt / Equity | -0.14 | 0.00 | -0.09 | -0.07 | -0.10 | -0.09 | 0.00 | 0.00 | 0.00 | -0.08 |
| Debt / Assets | 0.16 | 0.00 | 0.10 | 0.12 | 0.16 | 0.13 | 0.00 | 0.00 | 0.00 | 0.04 |
| Debt / EBITDA | 1.93 | - | - | - | - | - | - | - | - | - |
| Interest coverage | 1.0x | - | -0.1x | -0.5x | -0.4x | - | - | - | - | - |
| Equity multiplier | -0.84 | -0.84 | -0.85 | -0.52 | -0.59 | -0.69 | -0.82 | -1.21 | -1.27 | -1.96 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.13 | 0.14 | 0.12 | - | 0.11 | 0.08 | 0.11 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 71d | - | 6d | 10d | 5d | - | 3d | 11d | 6d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | 48490d | 111747d | 171150d | - | 114747d | 161371d | 172925d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 3.3x | - | 2.0x | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 3.8x | - | 4.2x | 5.0x | 1.5x | - | 4.7x | 15.0x | 8.4x | - |
| EV / EBITDA | 7.9x | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 40.2% | - | 20.4% | 9.3% | -14.1% | - | 3.3% | -7.1% | 22.3% | - |
| Revenue CAGR (3y) | 13.8% | - | 9.9% | 7.1% | -2.5% | - | -53.7% | 29.9% | 33.7% | - |
| Revenue CAGR (5y) | 23.5% | - | 15.3% | -0.9% | 9.7% | - | 4.7% | 8.4% | -18.9% | - |
| Gross profit growth (YoY) | 41.0% | - | 18.5% | 8.8% | -14.2% | - | 4.0% | -6.6% | 35.4% | - |
| Operating income growth (YoY) | - | - | 85.6% | 44.7% | 59.5% | - | 32.0% | 44.8% | 39.5% | - |
| Net income growth (YoY) | - | - | - | 47.3% | 59.1% | - | -6.7% | 23.1% | 9.3% | - |
| EPS growth (YoY) | - | - | - | 60.3% | 66.1% | - | -1825.0% | -1160.0% | -1281.8% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -40.3% | - | - | - | 33.0% | - | - | - | 36.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 35.3% | 16.9% | 6.2% | -46.9% | -69.7% | -103.6% | -126.4% | -158.9% | -244.1% | -161.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$224.15M totalNon Cash Revenue Related To Sale Of Future Royalties$108.59M · 48.4%
Non Cash Royalty Revenue$108.59M · 48.4%
Pre Commercial Product Revenue$4.24M · 1.9%
Other$1.04M · 0.5%
Revenue$1.04M · 0.5%
Clinical Product Revenue$334.0K · 0.1%
Research And Development Revenue$334.0K · 0.1%
Geographic
$114.20M totalUS$113.16M · 99.1%
Non Us$1.04M · 0.9%
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing AGENUS INC against the 5 most active filers in the same SIC group.