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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $38.3M, roughly 1.2× ImmunityBio, Inc.). STEM, INC. runs the higher net margin — -33.9% vs -161.8%, a 127.9% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs -15.6%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
IBRX vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $47.1M |
| Net Profit | $-61.9M | $-16.0M |
| Gross Margin | 99.0% | 48.9% |
| Operating Margin | -169.0% | -17.7% |
| Net Margin | -161.8% | -33.9% |
| Revenue YoY | 407.0% | -15.6% |
| Net Profit YoY | -4.7% | 68.8% |
| EPS (diluted) | $-0.06 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $32.1M | $38.2M | ||
| Q2 25 | $26.4M | $38.4M | ||
| Q1 25 | $16.5M | $32.5M | ||
| Q4 24 | $7.6M | $55.8M | ||
| Q3 24 | $6.1M | $29.3M | ||
| Q2 24 | — | $34.0M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $-61.9M | $-16.0M | ||
| Q3 25 | $-67.3M | $-23.8M | ||
| Q2 25 | $-92.6M | $202.5M | ||
| Q1 25 | $-129.6M | $-25.0M | ||
| Q4 24 | $-59.2M | $-51.1M | ||
| Q3 24 | $-85.7M | $-148.3M | ||
| Q2 24 | — | $-582.3M | ||
| Q1 24 | — | $-72.3M |
| Q4 25 | 99.0% | 48.9% | ||
| Q3 25 | 99.4% | 35.5% | ||
| Q2 25 | 99.5% | 33.4% | ||
| Q1 25 | 99.6% | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | -169.0% | -17.7% | ||
| Q3 25 | -173.5% | -33.6% | ||
| Q2 25 | -269.8% | -34.8% | ||
| Q1 25 | -390.1% | -65.0% | ||
| Q4 24 | -919.0% | -84.4% | ||
| Q3 24 | -1314.3% | -493.2% | ||
| Q2 24 | — | -1705.5% | ||
| Q1 24 | — | -267.0% |
| Q4 25 | -161.8% | -33.9% | ||
| Q3 25 | -209.8% | -62.2% | ||
| Q2 25 | -350.3% | 527.8% | ||
| Q1 25 | -784.9% | -76.9% | ||
| Q4 24 | -783.4% | -91.6% | ||
| Q3 24 | -1404.0% | -506.3% | ||
| Q2 24 | — | -1712.6% | ||
| Q1 24 | — | -283.9% |
| Q4 25 | $-0.06 | $-4.40 | ||
| Q3 25 | $-0.07 | $-2.84 | ||
| Q2 25 | $-0.10 | $-1.79 | ||
| Q1 25 | $-0.15 | $-0.15 | ||
| Q4 24 | $-0.08 | $-15.29 | ||
| Q3 24 | $-0.14 | $-18.24 | ||
| Q2 24 | — | $-71.81 | ||
| Q1 24 | — | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $-249.4M |
| Total Assets | $501.9M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.8M | $48.9M | ||
| Q3 25 | $257.8M | $43.1M | ||
| Q2 25 | $153.7M | $40.8M | ||
| Q1 25 | $61.6M | $58.6M | ||
| Q4 24 | $149.8M | $56.3M | ||
| Q3 24 | $130.4M | $75.4M | ||
| Q2 24 | — | $89.6M | ||
| Q1 24 | — | $112.8M |
| Q4 25 | $-500.5M | $-249.4M | ||
| Q3 25 | $-524.3M | $-235.7M | ||
| Q2 25 | $-570.7M | $-214.1M | ||
| Q1 25 | $-591.4M | $-417.5M | ||
| Q4 24 | $-489.1M | $-398.4M | ||
| Q3 24 | $-745.1M | $-344.1M | ||
| Q2 24 | — | $-203.2M | ||
| Q1 24 | — | $371.6M |
| Q4 25 | $501.9M | $308.9M | ||
| Q3 25 | $519.0M | $362.6M | ||
| Q2 25 | $402.1M | $379.2M | ||
| Q1 25 | $303.8M | $405.1M | ||
| Q4 24 | $382.9M | $437.4M | ||
| Q3 24 | $364.6M | $537.8M | ||
| Q2 24 | — | $691.5M | ||
| Q1 24 | — | $1.3B |
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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $-68.9M | $11.4M | ||
| Q2 25 | $-79.7M | $-21.3M | ||
| Q1 25 | $-85.9M | $8.5M | ||
| Q4 24 | $-85.1M | $-14.7M | ||
| Q3 24 | $-98.8M | $-9.4M | ||
| Q2 24 | — | $-11.9M | ||
| Q1 24 | — | $-621.0K |
| 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 24 | — | — |
| 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 24 | — | — |
| 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 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
