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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $38.3M, roughly 1.2× ImmunityBio, Inc.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -161.8%, a 159.9% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs 407.0%).
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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
IBRX vs SMXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $46.6M |
| Net Profit | $-61.9M | $-872.2K |
| Gross Margin | 99.0% | 2.7% |
| Operating Margin | -169.0% | -2.7% |
| Net Margin | -161.8% | -1.9% |
| Revenue YoY | 407.0% | 623.5% |
| Net Profit YoY | -4.7% | 77.7% |
| EPS (diluted) | $-0.06 | $-0.02 |
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.
| Q4 25 | $38.3M | $46.6M | ||
| Q3 25 | $32.1M | $30.6M | ||
| Q2 25 | $26.4M | $6.9M | ||
| Q1 25 | $16.5M | $6.9M | ||
| Q4 24 | $7.6M | $6.4M | ||
| Q3 24 | $6.1M | $6.3M |
| Q4 25 | $-61.9M | $-872.2K | ||
| Q3 25 | $-67.3M | $-2.3M | ||
| Q2 25 | $-92.6M | $-1.9M | ||
| Q1 25 | $-129.6M | $-1.3M | ||
| Q4 24 | $-59.2M | $-3.9M | ||
| Q3 24 | $-85.7M | $-9.6M |
| Q4 25 | 99.0% | 2.7% | ||
| Q3 25 | 99.4% | 3.1% | ||
| Q2 25 | 99.5% | 8.8% | ||
| Q1 25 | 99.6% | 20.5% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | 19.9% |
| Q4 25 | -169.0% | -2.7% | ||
| Q3 25 | -173.5% | -6.9% | ||
| Q2 25 | -269.8% | -25.7% | ||
| Q1 25 | -390.1% | -16.7% | ||
| Q4 24 | -919.0% | -27.9% | ||
| Q3 24 | -1314.3% | -158.4% |
| Q4 25 | -161.8% | -1.9% | ||
| Q3 25 | -209.8% | -7.4% | ||
| Q2 25 | -350.3% | -27.6% | ||
| Q1 25 | -784.9% | -18.7% | ||
| Q4 24 | -783.4% | -60.6% | ||
| Q3 24 | -1404.0% | -152.0% |
| Q4 25 | $-0.06 | $-0.02 | ||
| Q3 25 | $-0.07 | $-0.04 | ||
| Q2 25 | $-0.10 | $-0.04 | ||
| Q1 25 | $-0.15 | $-0.03 | ||
| Q4 24 | $-0.08 | $-0.07 | ||
| Q3 24 | $-0.14 | $-0.21 |
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 | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $-12.2M |
| Total Assets | $501.9M | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.8M | $8.0M | ||
| Q3 25 | $257.8M | $5.7M | ||
| Q2 25 | $153.7M | $1.9M | ||
| Q1 25 | $61.6M | $6.8M | ||
| Q4 24 | $149.8M | $7.1M | ||
| Q3 24 | $130.4M | $8.6M |
| Q4 25 | $-500.5M | $-12.2M | ||
| Q3 25 | $-524.3M | $-11.8M | ||
| Q2 25 | $-570.7M | $-15.1M | ||
| Q1 25 | $-591.4M | $-15.9M | ||
| Q4 24 | $-489.1M | $-15.1M | ||
| Q3 24 | $-745.1M | $-10.9M |
| Q4 25 | $501.9M | $91.3M | ||
| Q3 25 | $519.0M | $58.7M | ||
| Q2 25 | $402.1M | $38.2M | ||
| Q1 25 | $303.8M | $38.6M | ||
| Q4 24 | $382.9M | $38.6M | ||
| Q3 24 | $364.6M | $43.0M |
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 | $-2.5M |
| Free Cash FlowOCF − Capex | $-71.3M | — |
| FCF MarginFCF / Revenue | -186.2% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-70.4M | $-2.5M | ||
| Q3 25 | $-68.9M | $3.4M | ||
| Q2 25 | $-79.7M | $220.7K | ||
| Q1 25 | $-85.9M | $-601.1K | ||
| Q4 24 | $-85.1M | $-1.3M | ||
| Q3 24 | $-98.8M | $203.6K |
| Q4 25 | $-71.3M | — | ||
| Q3 25 | $-69.6M | — | ||
| Q2 25 | $-80.8M | — | ||
| Q1 25 | $-87.0M | — | ||
| Q4 24 | $-87.3M | — | ||
| Q3 24 | $-101.6M | — |
| Q4 25 | -186.2% | — | ||
| Q3 25 | -217.2% | — | ||
| Q2 25 | -305.9% | — | ||
| Q1 25 | -526.9% | — | ||
| Q4 24 | -1155.4% | — | ||
| Q3 24 | -1663.2% | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 45.7% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBRX
Segment breakdown not available.
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
