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Side-by-side financial comparison of Evommune, Inc. (EVMN) and INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM). Click either name above to swap in a different company.

Evommune, Inc. is the larger business by last-quarter revenue ($10.0M vs $6.1M, roughly 1.6× INTELLIGENT PROTECTION MANAGEMENT CORP.).

Evommune, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies for chronic inflammatory and immunological diseases. Its pipeline includes novel candidates targeting unmet medical needs for conditions such as atopic dermatitis, psoriasis, and other immune-mediated disorders, primarily serving global healthcare markets.

Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.

EVMN vs IPM — Head-to-Head

Bigger by revenue
EVMN
EVMN
1.6× larger
EVMN
$10.0M
$6.1M
IPM

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
EVMN
EVMN
IPM
IPM
Revenue
$10.0M
$6.1M
Net Profit
$-12.5M
Gross Margin
53.1%
Operating Margin
-133.3%
-13.4%
Net Margin
-124.8%
Revenue YoY
2091.6%
Net Profit YoY
EPS (diluted)
$-8.07
$-0.05

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
EVMN
EVMN
IPM
IPM
Q4 25
$6.1M
Q3 25
$10.0M
$6.2M
Q2 25
$5.7M
Q1 25
$5.5M
Q4 23
$-7.3M
Q3 23
$2.8M
Q2 23
$3.0M
Q1 23
$2.6M
Net Profit
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
$-12.5M
$-1.1M
Q2 25
$-1.1M
Q1 25
$808.5K
Q4 23
Q3 23
$-181.6K
Q2 23
$135.6K
Q1 23
$-738.3K
Gross Margin
EVMN
EVMN
IPM
IPM
Q4 25
53.1%
Q3 25
50.7%
Q2 25
50.1%
Q1 25
55.3%
Q4 23
Q3 23
70.1%
Q2 23
73.8%
Q1 23
68.7%
Operating Margin
EVMN
EVMN
IPM
IPM
Q4 25
-13.4%
Q3 25
-133.3%
-23.0%
Q2 25
-19.7%
Q1 25
-24.2%
Q4 23
Q3 23
-14.1%
Q2 23
-9.4%
Q1 23
-35.5%
Net Margin
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
-124.8%
-17.4%
Q2 25
-18.3%
Q1 25
14.7%
Q4 23
Q3 23
-6.6%
Q2 23
4.6%
Q1 23
-28.8%
EPS (diluted)
EVMN
EVMN
IPM
IPM
Q4 25
$-0.05
Q3 25
$-8.07
$-0.08
Q2 25
$-0.08
Q1 25
$0.06
Q4 23
$-0.03
Q3 23
$-0.02
Q2 23
$0.01
Q1 23
$-0.08

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EVMN
EVMN
IPM
IPM
Cash + ST InvestmentsLiquidity on hand
$76.1M
$5.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$-183.1M
$18.2M
Total Assets
$84.5M
$26.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EVMN
EVMN
IPM
IPM
Q4 25
$5.6M
Q3 25
$76.1M
$7.3M
Q2 25
$7.3M
Q1 25
$9.7M
Q4 23
$13.6M
Q3 23
$13.7M
Q2 23
$13.7M
Q1 23
$13.9M
Stockholders' Equity
EVMN
EVMN
IPM
IPM
Q4 25
$18.2M
Q3 25
$-183.1M
$18.8M
Q2 25
$19.9M
Q1 25
$21.1M
Q4 23
$20.1M
Q3 23
$20.4M
Q2 23
$20.5M
Q1 23
$20.3M
Total Assets
EVMN
EVMN
IPM
IPM
Q4 25
$26.0M
Q3 25
$84.5M
$27.2M
Q2 25
$29.8M
Q1 25
$31.1M
Q4 23
$23.9M
Q3 23
$24.1M
Q2 23
$24.4M
Q1 23
$24.3M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EVMN
EVMN
IPM
IPM
Operating Cash FlowLast quarter
$-59.7M
$87.6K
Free Cash FlowOCF − Capex
$-59.9M
FCF MarginFCF / Revenue
-598.7%
Capex IntensityCapex / Revenue
1.3%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EVMN
EVMN
IPM
IPM
Q4 25
$87.6K
Q3 25
$-59.7M
$133.0K
Q2 25
$-888.7K
Q1 25
$1.7M
Q4 23
$-99.0K
Q3 23
$16.1K
Q2 23
$-193.8K
Q1 23
$-803.0K
Free Cash Flow
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
$-59.9M
Q2 25
Q1 25
Q4 23
Q3 23
Q2 23
Q1 23
FCF Margin
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
-598.7%
Q2 25
Q1 25
Q4 23
Q3 23
Q2 23
Q1 23
Capex Intensity
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
1.3%
0.0%
Q2 25
Q1 25
Q4 23
Q3 23
Q2 23
Q1 23
Cash Conversion
EVMN
EVMN
IPM
IPM
Q4 25
Q3 25
Q2 25
Q1 25
2.16×
Q4 23
Q3 23
Q2 23
-1.43×
Q1 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

EVMN
EVMN

Segment breakdown not available.

IPM
IPM

Procurement Revenue$5.4M88%
Other$743.9K12%

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