Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data IO Biotech, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
Research and development
8.46
30.2
47
67.8
71.5
General and administrative
1.68
11.1
24.4
23.6
23.7
Operating expenses
10.1
41.2
71.4
91.4
95.2
Operating income
-10.1
-41.2
-71.4
-91.4
-95.2
Interest expense
0.03
0.36
0.3
Other non-operating income
-1.9
-26.6
1.24
6.21
1.13
Pre-tax income
-12
-67.8
-70.2
-85.2
-94
Income tax
0.07
1.27
0.85
1.44
Net income
-12
-67.9
-71.5
-86.1
-95.5
EBITDA
-41.2
-71.3
-91.2
-94.9
EPS, basic
-82.36
-17.30
-2.48
-1.98
-1.45
EPS, diluted
-82.36
-17.30
-2.48
-1.98
-1.45
Shares, basic (weighted)
0.18
4.34
28.8
43.5
65.9
Shares, diluted (weighted)
0.18
4.34
28.8
43.5
65.9
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
3.41
212
143
143
60
Other current assets
2.23
10.2
5.63
4.06
4.92
Total current assets
5.64
222
148
147
65
Property, plant and equipment
0.16
0.74
0.85
0.64
Lease right-of-use assets
2.49
2.26
1.73
Other non-current assets
0.02
0.13
0.08
0.09
0.12
Total assets
5.65
222
152
151
67.7
Accounts payable
0.52
3.93
4
3.88
4.66
Accrued liabilities
0.79
1.03
1.86
4.23
4.31
Short-term debt
0
Total current liabilities
3.05
10.3
10.7
15.7
19.5
Long-term debt
0
Lease liabilities
2.28
1.84
1.2
Other non-current liabilities
0.06
Total liabilities
3.05
10.4
13
17.6
20.7
Total debt
0
Paid-in capital
1.11
320
327
407
413
Retained earnings
-38.4
-106
-178
-264
-359
Other comprehensive income
1.96
-1.49
-10.1
-9.67
-6.85
Shareholders' equity
-35.3
212
139
133
47
Total equity
-35.3
212
139
133
47
Total liabilities and equity
5.65
222
152
151
67.7
Shares outstanding
0
28.8
28.8
65.9
65.9
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
Net income
-12
-67.9
-71.5
-86.1
-95.5
Depreciation and amortization
0
0.1
0.2
0.3
Stock-based compensation
0.06
1.79
7.04
8.06
6.53
Deferred income tax
-0.09
0.09
Change in payables
-0.48
3.41
0.08
-0.13
0.78
Cash from operations
-9.96
-40.6
-59.7
-71.7
-82.3
Capital expenditures
-0.15
-0.69
-0.32
-0.04
Cash from investing
-0.15
-0.69
-0.32
-0.04
Stock issued
115
Cash from financing
5.1
253
71.9
Net change in cash
-4.85
212
-60.4
-0.2
-82.4
Free cash flow
-40.8
-60.4
-72.1
-82.4
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2025; growth uses fiscal years. Valuation uses the share price of $0.00 on November 9, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-9,698.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-221.1%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
-64.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-39.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-55.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-32.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
51.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
147.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.01x
Current assets / current liabilities.
Quick ratio
1.67x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.67x
(Cash + short-term investments) / current liabilities.
Debt / equity
18.3x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
41.7%
Total debt / total assets.
Liabilities / assets
97.7%
Total liabilities / total assets.
Net debt
-$14.0M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$1.21
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.21
Cash from operations / diluted weighted shares.
Book value per share
$0.01
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
0.01x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.01x
Market cap / tangible book value, when positive.
FCF yield
-1,126,685.0%
Free cash flow / market cap.
Earnings yield
-1,227,922.0%
Net income / market cap (the inverse of P/E).
Was IO Biotech, Inc. profitable in fiscal 2024?
No. It reported a net loss of $95.5M.
How much free cash flow did IO Biotech, Inc. generate in fiscal 2024?
Cash from operations of $82.3M minus capital expenditures of $44.0K left free cash flow of -$82.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.