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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $38.3M, roughly 1.6× ImmunityBio, Inc.). TSS, Inc. runs the higher net margin — 20.0% vs -161.8%, a 181.8% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs 21.8%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-71.3M).
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 TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $60.9M |
| Net Profit | $-61.9M | $12.2M |
| Gross Margin | 99.0% | 17.6% |
| Operating Margin | -169.0% | 1.5% |
| Net Margin | -161.8% | 20.0% |
| Revenue YoY | 407.0% | 21.8% |
| Net Profit YoY | -4.7% | 535.7% |
| EPS (diluted) | $-0.06 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $32.1M | $41.9M | ||
| Q2 25 | $26.4M | $44.0M | ||
| Q1 25 | $16.5M | $99.0M | ||
| Q4 24 | $7.6M | $50.0M | ||
| Q3 24 | $6.1M | $70.1M | ||
| Q2 24 | — | $12.2M | ||
| Q1 24 | — | $15.9M |
| Q4 25 | $-61.9M | $12.2M | ||
| Q3 25 | $-67.3M | $-1.5M | ||
| Q2 25 | $-92.6M | $1.5M | ||
| Q1 25 | $-129.6M | $3.0M | ||
| Q4 24 | $-59.2M | $1.9M | ||
| Q3 24 | $-85.7M | $2.6M | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | — | $15.0K |
| Q4 25 | 99.0% | 17.6% | ||
| Q3 25 | 99.4% | 11.1% | ||
| Q2 25 | 99.5% | 17.8% | ||
| Q1 25 | 99.6% | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | -169.0% | 1.5% | ||
| Q3 25 | -173.5% | -2.2% | ||
| Q2 25 | -269.8% | 5.1% | ||
| Q1 25 | -390.1% | 4.2% | ||
| Q4 24 | -919.0% | 0.0% | ||
| Q3 24 | -1314.3% | 5.4% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | -161.8% | 20.0% | ||
| Q3 25 | -209.8% | -3.6% | ||
| Q2 25 | -350.3% | 3.4% | ||
| Q1 25 | -784.9% | 3.0% | ||
| Q4 24 | -783.4% | 3.8% | ||
| Q3 24 | -1404.0% | 3.8% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | $-0.06 | $0.44 | ||
| Q3 25 | $-0.07 | $-0.06 | ||
| Q2 25 | $-0.10 | $0.06 | ||
| Q1 25 | $-0.15 | $0.12 | ||
| Q4 24 | $-0.08 | $0.08 | ||
| Q3 24 | $-0.14 | $0.10 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | — | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $76.6M |
| Total Assets | $501.9M | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.8M | $85.5M | ||
| Q3 25 | $257.8M | $70.7M | ||
| Q2 25 | $153.7M | — | ||
| Q1 25 | $61.6M | — | ||
| Q4 24 | $149.8M | $23.2M | ||
| Q3 24 | $130.4M | $46.4M | ||
| Q2 24 | — | $8.3M | ||
| Q1 24 | — | $14.4M |
| Q4 25 | $-500.5M | $76.6M | ||
| Q3 25 | $-524.3M | $63.4M | ||
| Q2 25 | $-570.7M | $9.5M | ||
| Q1 25 | $-591.4M | $9.4M | ||
| Q4 24 | $-489.1M | $7.1M | ||
| Q3 24 | $-745.1M | $7.7M | ||
| Q2 24 | — | $5.2M | ||
| Q1 24 | — | $3.7M |
| Q4 25 | $501.9M | $184.9M | ||
| Q3 25 | $519.0M | $165.4M | ||
| Q2 25 | $402.1M | $139.5M | ||
| Q1 25 | $303.8M | $113.5M | ||
| Q4 24 | $382.9M | $96.6M | ||
| Q3 24 | $364.6M | $67.3M | ||
| Q2 24 | — | $28.9M | ||
| Q1 24 | — | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-71.3M | $15.8M |
| FCF MarginFCF / Revenue | -186.2% | 25.9% |
| Capex IntensityCapex / Revenue | 2.4% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-70.4M | $16.3M | ||
| Q3 25 | $-68.9M | $-18.4M | ||
| Q2 25 | $-79.7M | $16.3M | ||
| Q1 25 | $-85.9M | $20.6M | ||
| Q4 24 | $-85.1M | $-21.6M | ||
| Q3 24 | $-98.8M | $38.6M | ||
| Q2 24 | — | $-4.3M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | $-71.3M | $15.8M | ||
| Q3 25 | $-69.6M | $-24.9M | ||
| Q2 25 | $-80.8M | $5.4M | ||
| Q1 25 | $-87.0M | $5.8M | ||
| Q4 24 | $-87.3M | $-28.4M | ||
| Q3 24 | $-101.6M | $38.6M | ||
| Q2 24 | — | $-6.0M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | -186.2% | 25.9% | ||
| Q3 25 | -217.2% | -59.3% | ||
| Q2 25 | -305.9% | 12.3% | ||
| Q1 25 | -526.9% | 5.8% | ||
| Q4 24 | -1155.4% | -56.7% | ||
| Q3 24 | -1663.2% | 55.1% | ||
| Q2 24 | — | -49.4% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | 2.4% | 0.9% | ||
| Q3 25 | 2.3% | 15.3% | ||
| Q2 25 | 4.1% | 24.8% | ||
| Q1 25 | 6.8% | 15.0% | ||
| Q4 24 | 28.0% | 13.4% | ||
| Q3 24 | 45.7% | 0.1% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | — | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBRX
Segment breakdown not available.
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
