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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and Orion Properties Inc. (ONL). Click either name above to swap in a different company.
ImmunityBio, Inc. is the larger business by last-quarter revenue ($38.3M vs $36.3M, roughly 1.1× Orion Properties Inc.). Orion Properties Inc. runs the higher net margin — -37.4% vs -161.8%, a 124.4% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs -4.6%).
ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing next-generation immunotherapies and vaccine candidates targeting multiple cancer types and infectious diseases. It operates mainly in the U.S. market, with core R&D segments including cell therapy, antibody therapeutics, and targeted vaccine platforms designed to enhance patient treatment outcomes.
IBRX vs ONL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $36.3M |
| Net Profit | $-61.9M | $-13.6M |
| Gross Margin | 99.0% | — |
| Operating Margin | -169.0% | -9.3% |
| Net Margin | -161.8% | -37.4% |
| Revenue YoY | 407.0% | -4.6% |
| Net Profit YoY | -4.7% | -45.0% |
| EPS (diluted) | $-0.06 | $-0.24 |
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.
| Q1 26 | — | $36.3M | ||
| Q4 25 | $38.3M | $35.2M | ||
| Q3 25 | $32.1M | $37.1M | ||
| Q2 25 | $26.4M | $37.3M | ||
| Q1 25 | $16.5M | $38.0M | ||
| Q4 24 | $7.6M | $38.4M | ||
| Q3 24 | $6.1M | $39.2M | ||
| Q2 24 | — | $40.1M |
| Q1 26 | — | $-13.6M | ||
| Q4 25 | $-61.9M | $-35.8M | ||
| Q3 25 | $-67.3M | $-69.0M | ||
| Q2 25 | $-92.6M | $-25.1M | ||
| Q1 25 | $-129.6M | $-9.4M | ||
| Q4 24 | $-59.2M | $-32.8M | ||
| Q3 24 | $-85.7M | $-10.2M | ||
| Q2 24 | — | $-33.8M |
| Q1 26 | — | — | ||
| Q4 25 | 99.0% | — | ||
| Q3 25 | 99.4% | — | ||
| Q2 25 | 99.5% | — | ||
| Q1 25 | 99.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | -9.3% | ||
| Q4 25 | -169.0% | -101.5% | ||
| Q3 25 | -173.5% | -185.8% | ||
| Q2 25 | -269.8% | -67.1% | ||
| Q1 25 | -390.1% | -24.4% | ||
| Q4 24 | -919.0% | -85.4% | ||
| Q3 24 | -1314.3% | -25.9% | ||
| Q2 24 | — | -84.1% |
| Q1 26 | — | -37.4% | ||
| Q4 25 | -161.8% | -101.7% | ||
| Q3 25 | -209.8% | -186.0% | ||
| Q2 25 | -350.3% | -67.3% | ||
| Q1 25 | -784.9% | -24.6% | ||
| Q4 24 | -783.4% | -85.4% | ||
| Q3 24 | -1404.0% | -26.1% | ||
| Q2 24 | — | -84.2% |
| Q1 26 | — | $-0.24 | ||
| Q4 25 | $-0.06 | $-0.63 | ||
| Q3 25 | $-0.07 | $-1.23 | ||
| Q2 25 | $-0.10 | $-0.45 | ||
| Q1 25 | $-0.15 | $-0.17 | ||
| Q4 24 | $-0.08 | $-0.59 | ||
| Q3 24 | $-0.14 | $-0.18 | ||
| Q2 24 | — | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $242.8M | $10.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $608.5M |
| Total Assets | $501.9M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $10.3M | ||
| Q4 25 | $242.8M | $22.4M | ||
| Q3 25 | $257.8M | $32.6M | ||
| Q2 25 | $153.7M | $17.4M | ||
| Q1 25 | $61.6M | $9.4M | ||
| Q4 24 | $149.8M | $15.6M | ||
| Q3 24 | $130.4M | $16.6M | ||
| Q2 24 | — | $24.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $465.0M | ||
| Q3 25 | — | $483.0M | ||
| Q2 25 | — | $483.0M | ||
| Q1 25 | — | $505.0M | ||
| Q4 24 | — | $492.0M | ||
| Q3 24 | — | $485.0M | ||
| Q2 24 | — | $462.0M |
| Q1 26 | — | $608.5M | ||
| Q4 25 | $-500.5M | $623.2M | ||
| Q3 25 | $-524.3M | $658.8M | ||
| Q2 25 | $-570.7M | $728.0M | ||
| Q1 25 | $-591.4M | $753.5M | ||
| Q4 24 | $-489.1M | $763.9M | ||
| Q3 24 | $-745.1M | $800.9M | ||
| Q2 24 | — | $816.1M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $501.9M | $1.2B | ||
| Q3 25 | $519.0M | $1.2B | ||
| Q2 25 | $402.1M | $1.3B | ||
| Q1 25 | $303.8M | $1.3B | ||
| Q4 24 | $382.9M | $1.3B | ||
| Q3 24 | $364.6M | $1.4B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | — | 0.61× | ||
| Q2 24 | — | 0.57× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-70.4M | — |
| Free Cash FlowOCF − Capex | $-71.3M | — |
| FCF MarginFCF / Revenue | -186.2% | — |
| Capex IntensityCapex / Revenue | 2.4% | 51.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-70.4M | $23.6M | ||
| Q3 25 | $-68.9M | $5.7M | ||
| Q2 25 | $-79.7M | $11.6M | ||
| Q1 25 | $-85.9M | $-2.2M | ||
| Q4 24 | $-85.1M | $54.3M | ||
| Q3 24 | $-98.8M | $13.8M | ||
| Q2 24 | — | $17.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-71.3M | — | ||
| Q3 25 | $-69.6M | — | ||
| Q2 25 | $-80.8M | — | ||
| Q1 25 | $-87.0M | — | ||
| Q4 24 | $-87.3M | — | ||
| Q3 24 | $-101.6M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | -186.2% | — | ||
| Q3 25 | -217.2% | — | ||
| Q2 25 | -305.9% | — | ||
| Q1 25 | -526.9% | — | ||
| Q4 24 | -1155.4% | — | ||
| Q3 24 | -1663.2% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 51.4% | ||
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 45.7% | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBRX
Segment breakdown not available.
ONL
| Rental | $36.1M | 100% |
| Fee income from unconsolidated joint venture | $137.0K | 0% |
