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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
ImmunityBio, Inc. is the larger business by last-quarter revenue ($38.3M vs $26.9M, roughly 1.4× WEST BANCORPORATION INC). WEST BANCORPORATION INC runs the higher net margin — 39.2% vs -161.8%, a 201.0% gap on every dollar of revenue. On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs 16.6%). WEST BANCORPORATION INC produced more free cash flow last quarter ($12.4M 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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
IBRX vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $26.9M |
| Net Profit | $-61.9M | $10.6M |
| Gross Margin | 99.0% | — |
| Operating Margin | -169.0% | 50.0% |
| Net Margin | -161.8% | 39.2% |
| Revenue YoY | 407.0% | 16.6% |
| Net Profit YoY | -4.7% | 34.8% |
| EPS (diluted) | $-0.06 | $0.61 |
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 | — | $26.9M | ||
| Q4 25 | $38.3M | $24.2M | ||
| Q3 25 | $32.1M | $25.0M | ||
| Q2 25 | $26.4M | $23.8M | ||
| Q1 25 | $16.5M | $23.1M | ||
| Q4 24 | $7.6M | $20.9M | ||
| Q3 24 | $6.1M | $20.3M | ||
| Q2 24 | — | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | $-61.9M | $7.4M | ||
| Q3 25 | $-67.3M | $9.3M | ||
| Q2 25 | $-92.6M | $8.0M | ||
| Q1 25 | $-129.6M | $7.8M | ||
| Q4 24 | $-59.2M | $7.1M | ||
| Q3 24 | $-85.7M | $6.0M | ||
| Q2 24 | — | $5.2M |
| 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 | — | 50.0% | ||
| Q4 25 | -169.0% | 39.6% | ||
| Q3 25 | -173.5% | 45.8% | ||
| Q2 25 | -269.8% | 43.4% | ||
| Q1 25 | -390.1% | 43.4% | ||
| Q4 24 | -919.0% | 30.9% | ||
| Q3 24 | -1314.3% | 36.6% | ||
| Q2 24 | — | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | -161.8% | 30.7% | ||
| Q3 25 | -209.8% | 37.3% | ||
| Q2 25 | -350.3% | 33.5% | ||
| Q1 25 | -784.9% | 34.0% | ||
| Q4 24 | -783.4% | 34.0% | ||
| Q3 24 | -1404.0% | 29.3% | ||
| Q2 24 | — | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | $-0.06 | $0.44 | ||
| Q3 25 | $-0.07 | $0.55 | ||
| Q2 25 | $-0.10 | $0.47 | ||
| Q1 25 | $-0.15 | $0.46 | ||
| Q4 24 | $-0.08 | $0.41 | ||
| Q3 24 | $-0.14 | $0.35 | ||
| Q2 24 | — | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $270.7M |
| Total Assets | $501.9M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $242.8M | $471.1M | ||
| Q3 25 | $257.8M | $232.9M | ||
| Q2 25 | $153.7M | $345.2M | ||
| Q1 25 | $61.6M | — | ||
| Q4 24 | $149.8M | $243.5M | ||
| Q3 24 | $130.4M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $-500.5M | $266.0M | ||
| Q3 25 | $-524.3M | $255.1M | ||
| Q2 25 | $-570.7M | $240.9M | ||
| Q1 25 | $-591.4M | $237.9M | ||
| Q4 24 | $-489.1M | $227.9M | ||
| Q3 24 | $-745.1M | $235.4M | ||
| Q2 24 | — | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $501.9M | $4.1B | ||
| Q3 25 | $519.0M | $4.0B | ||
| Q2 25 | $402.1M | $4.1B | ||
| Q1 25 | $303.8M | $4.0B | ||
| Q4 24 | $382.9M | $4.0B | ||
| Q3 24 | $364.6M | $4.0B | ||
| Q2 24 | — | $4.0B |
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 | $12.9M |
| Free Cash FlowOCF − Capex | $-71.3M | $12.4M |
| FCF MarginFCF / Revenue | -186.2% | 46.0% |
| Capex IntensityCapex / Revenue | 2.4% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $-70.4M | $46.5M | ||
| Q3 25 | $-68.9M | $11.4M | ||
| Q2 25 | $-79.7M | $13.5M | ||
| Q1 25 | $-85.9M | $9.7M | ||
| Q4 24 | $-85.1M | $39.8M | ||
| Q3 24 | $-98.8M | $12.9M | ||
| Q2 24 | — | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | $-71.3M | $43.2M | ||
| Q3 25 | $-69.6M | $10.8M | ||
| Q2 25 | $-80.8M | $12.8M | ||
| Q1 25 | $-87.0M | $8.3M | ||
| Q4 24 | $-87.3M | $13.7M | ||
| Q3 24 | $-101.6M | $7.0M | ||
| Q2 24 | — | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | -186.2% | 178.3% | ||
| Q3 25 | -217.2% | 43.0% | ||
| Q2 25 | -305.9% | 53.6% | ||
| Q1 25 | -526.9% | 35.7% | ||
| Q4 24 | -1155.4% | 65.6% | ||
| Q3 24 | -1663.2% | 34.2% | ||
| Q2 24 | — | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | 2.4% | 13.7% | ||
| Q3 25 | 2.3% | 2.6% | ||
| Q2 25 | 4.1% | 3.2% | ||
| Q1 25 | 6.8% | 6.5% | ||
| Q4 24 | 28.0% | 125.3% | ||
| Q3 24 | 45.7% | 29.4% | ||
| Q2 24 | — | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
