Immatics N.V.(IMTX)Earnings, Financials & Key Ratios

IMTX•NASDAQ

$10.26

Price updated Jul 7, 2026

SectorHealthcare IndustryBiotechnology Sub-IndustryCell and Gene Therapy Developers

AboutImmatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor (TCR) based immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as adoptive cell therapies (ACT) and antibody-like TCR Bispecifics. Its ACTengine product candidates are in Phase I clinical trials, which include IMA201 that targets melanoma-associated antigen 4 or 8 in patients with solid tumors; IMA202 that targets melanoma-associated antigen 1 in patients with various solid tumors, including squamous non-small cell lung carcinoma and hepatocellular carcinoma; and IMA203 that targets preferentially expressed antigen in melanoma in adult patients with relapsed and/or refractory solid tumors, as well as IMA204, which is in preclinical studies that targets tumor stroma cell. The company's TCR Bispecifics product candidates, which are in preclinical studies include IMA401, a cancer testis antigen for the treatment of solid tumors; and IMA402 for the treatment of solid tumors. It also develops IMA101 for the treatment of cancer; and IMA301, an allogenic cellular therapy product candidate. The company has a strategic collaboration agreement with GlaxoSmithKline Intellectual Property Development Limited to develop novel adoptive cell therapies targeting multiple cancer indications; MD Anderson Cancer Center to develop multiple T cell and TCR-based adoptive cellular therapies; Celgene Switzerland LLC to develop novel adoptive cell therapies targeting multiple cancers; and Genmab A/S to develop T cell engaging bispecific immunotherapies targeting multiple cancer indications. Immatics N.V. is headquartered in Tübingen, Germany.Show more

Revenue$48M-69.0%
EBITDA-$170M-542.7%
Net Income-$196M-1390.9%
EPS (Diluted)-1.54-1200.0%
Gross Margin100%
EBITDA Margin-351.42%-1975.2%
Operating Margin-377.11%-1421.9%
Net Margin-407.01%-4267.8%
ROE-37.11%-1075.3%

IMTX Price & Volume

Immatics N.V. (IMTX) stock price & volume — 10-year historical chart

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Clinical Milestone Dependency Strains Capital Runway Sustainability

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Decelerating

Profitability:Negative

Financial:Adequate

Cash Flow:Burning

Primary Risk:Clinical milestone funding dependency

Key Thesis Takeaways

Immatics N.V.
operates as a high-risk, clinical-stage biotechnology firm whose financial stability is tethered to volatile, milestone-driven revenue rather than scalable commercial operations.
While the company maintains a solid liquidity position with $301.6 million in cash as of 2026Q1, the persistent inability to generate positive operating income—evidenced by a -8.8% operating margin—highlights the significant execution risk inherent in its ACTengine and TCER development programs.
Investors should remain cautious as the rapid depletion of deferred revenue, which fell from $188.1 million in 2024Q1 to $29.1 million in 2026Q1, suggests an increasing reliance on future clinical successes to fund ongoing R&D intensity.

Verdict Logic

the company's reliance on non-recurring milestone payments and a persistent quarterly cash burn that reached $43.5 million in 2026Q1 creates significant uncertainty regarding long-term capital sustainability.

IMTX Growth Metrics

Immatics N.V. (IMTX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years9.08%

3 Years-34.64%

TTM-74.13%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-897.76%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-1040%

Return on Capital

10 Years-42.26%

5 Years-23.61%

3 Years-23.56%

Last Year-31.73%

IMTX Recent Earnings

Immatics N.V. (IMTX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 8/12 qtrs (67%)●Beat Revenue 8/12 qtrs (67%)

Q2 2026Latest

May 12, 2026

Metric

Actual

Est

EPS

$0.50-19.0%

$0.42

Rev

$9M-10.3%

$10M

Q2 2026

Mar 5, 2026

Metric

Actual

Est

EPS

$0.34+29.2%

$0.48

Rev

$22M+98.2%

$11M

Q4 2025

Nov 17, 2025

Metric

Actual

Est

EPS

$0.49-11.5%

$0.44

Rev

$6M-43.3%

$11M

Q3 2025

Aug 13, 2025

Metric

Actual

Est

EPS

$0.66-73.7%

$0.38

Rev

$6M-55.5%

$13M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 12, 2026	$0.50vs $0.42-19.0%	$9Mvs $10M-10.3%
Q2 2026	Mar 5, 2026	$0.34vs $0.48+29.2%	$22Mvs $11M+98.2%
Q4 2025	Nov 17, 2025	$0.49vs $0.44-11.5%	$6Mvs $11M-43.3%
Q3 2025	Aug 13, 2025	$0.66vs $0.38-73.7%	$6Mvs $13M-55.5%

Based on last 12 quarters of dataView full earnings history →

Latest IMTX News

Recent stock market news and headlines for Immatics N.V. (IMTX)

Seeking Alpha·Jun 16, 2026

Immatics: PRAME Is Becoming More Than A Single-Asset Story

Immatics is evolving into a PRAME-focused oncology platform with three monetization paths, not just a single-asset cell therapy play. IMTX's lead asset, anzu-cel, is in Phase 3 for advanced melanoma, but broader value lies in its layered PRAME franchise and pipeline expansion. IMTX maintains a strong cash runway into 2028, enabling critical clinical milestones without distressed financing or near-term capital risk.

Peers Comparison

Key metrics vs top competitors for Immatics N.V. (IMTX)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
IMTXImmatics N.V.Current	$10.26	$1.38B	-5.83	-69.03%	-407.01%	-37.11%	—
TCRTAlaunos Therapeutics, Inc.	$2.20	$5.37M	-1.00	-50%	-136966.67%	-165.94%	—
AGENAgenus Inc.	$3.50	$145.75M	-1029.41	10.37%	52.16%	—	—
FATEFate Therapeutics, Inc.	$3.02	$352.01M	-2.63	-51.24%	-2056.79%	-58.89%	—
CRISCuris, Inc.	$5.29	$10.32M	-0.46	-13.43%	-299.66%	—	—
NKTXNkarta, Inc.	$3.38	$241.82M	-2.40	—	—	-30.9%	—

Compare IMTX vs Peers

Immatics N.V. (IMTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TCRT

Most directly comparable listed peer for IMTX.

Scale Benchmark

vs TMO

Larger-name benchmark to compare IMTX against a more recognizable public peer.

Peer Set

Compare Top 5

vs TCRT, AGEN, FATE, CRIS

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IMTX Frequently Asked Questions

Immatics N.V. (IMTX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Immatics N.V.'s revenue?

Immatics N.V. (IMTX) reported $37.3M in revenue for fiscal year 2025. This represents a 889% increase from $3.8M in 2018.

How fast is Immatics N.V. growing?

Immatics N.V. (IMTX) saw revenue decline by 69.0% over the past year.

Is IMTX profitable?

Immatics N.V. (IMTX) reported a net loss of $215.4M for fiscal year 2025.

Dividend & Returns

What is IMTX's return on equity?

Immatics N.V. (IMTX) has a return on equity (ROE) of -37.1%. Negative ROE indicates the company is unprofitable.

What is Immatics N.V.'s free cash flow?

Immatics N.V. (IMTX) had negative free cash flow of $188.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in IMTX back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 12, 2026

$0.50vs $0.42-19.0%

$9Mvs $10M-10.3%

Q2 2026

Mar 5, 2026

$0.34vs $0.48+29.2%

$22Mvs $11M+98.2%

Q4 2025

Nov 17, 2025

$0.49vs $0.44-11.5%

$6Mvs $11M-43.3%

Q3 2025

Aug 13, 2025

$0.66vs $0.38-73.7%

$6Mvs $13M-55.5%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

IMTXImmatics N.V.Current

$10.26

$1.38B

-5.83

-69.03%

-407.01%

-37.11%

—

TCRTAlaunos Therapeutics, Inc.

$2.20

$5.37M

-1.00

-50%

-136966.67%

-165.94%

—

AGENAgenus Inc.

$3.50

$145.75M

-1029.41

10.37%

52.16%

—

FATEFate Therapeutics, Inc.

$3.02

$352.01M

-2.63

-51.24%

-2056.79%

-58.89%

—

CRISCuris, Inc.

$5.29

$10.32M

-0.46

-13.43%

-299.66%

—

NKTXNkarta, Inc.

$3.38

$241.82M

-2.40

—

-30.9%

—