Revenue remains highly volatile with a TTM total of only $400,000, while operating losses persist as evidenced by the $5.9 million loss reported in 2026Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 |
|---|
| Sales/Revenue | 300K | 400K | 225K | 0 | 1.88M | 2.37M | 1.64M | 2.02M | 444K | 394K | 948K | 1.85M | 205K | 1.01M | 1.28M | 520.08K | 0 | 1.18M | 987.06K | 896.27K |
| Revenue Growth % | -20% | 77.78% | - | -100% | -20.54% | 44.75% | -18.83% | 354.5% | 12.69% | -58.44% | -48.78% | 802.93% | -79.64% | -21.14% | 145.54% | - | -100% | 19.24% | 10.13% | - |
| Cost of Goods Sold | 780K | 0 | 0 | 0 | 3.79M | 1.46M | 703K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 376.81K | 337.03K | 500.83K | 485.13K | 445.72K |
| COGS % of Revenue | - | - | - | - | 201.22% | 61.66% | 42.92% | - | - | - | - | - | - | - | - | 72.45% | - | 42.55% | 49.15% | 49.73% |
| Gross Profit | -480K | 400K | 225K | 0 | -1.91M | 909K | 935K | 2.02M | 444K | 394K | 948K | 1.85M | 205K | 1.01M | 1.28M | 520.08K | 0 | 391.82K | 501.93K | 450.55K |
| Gross Margin % | -160% | 100% | 100% | - | -101.22% | 38.34% | 57.08% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | - | 33.29% | 50.85% | 50.27% |
| Gross Profit Growth % | - | 77.78% | - | 100% | -309.79% | -2.78% | -53.67% | 354.5% | 12.69% | -58.44% | -48.78% | 802.93% | -79.64% | -21.14% | 145.54% | - | -100% | -21.94% | 11.4% | - |
| Operating Expenses | 23.48M | 19M | 16.86M | 29.34M | 27.79M | 32.02M | 14.94M | 17.81M | 14.67M | 14.67M | 10.84M | 8.52M | 4.04M | 7.67M | 10.19M | 10.17M | 4.25M | 2.6M | 2.37M | 2.12M |
| OpEx % of Revenue | - | 4750.5% | 7492.89% | - | 1475.05% | 1350.48% | 911.97% | 882.36% | 3304.28% | 3722.84% | 1143.57% | 460.13% | 1973.17% | 762.07% | 797.81% | 1956.24% | - | 221.07% | 239.9% | 236.09% |
| Selling, General & Admin | 14.95M | 10.69M | 11.67M | 19.02M | 17.96M | 21.89M | 11.37M | 12.33M | 10.69M | 10.55M | 7.68M | 5.02M | 4.2M | 4.24M | 5.62M | 7.09M | 2.07M | 1.8M | 1.82M | 1.44M |
| SG&A % of Revenue | - | 2672.5% | 5188.44% | - | 953.45% | 923.15% | 693.83% | 611.1% | 2406.53% | 2677.92% | 810.65% | 271.31% | 2046.34% | 421.35% | 440.33% | 1363.44% | - | 153.36% | 184.18% | 161% |
| Research & Development | 14.31M | 8.31M | 5.18M | 10.33M | 9.83M | 9.99M | 3.57M | 5.47M | 3.99M | 4.12M | 3.16M | 3.5M | 1.9M | 3.43M | 4.98M | 3.08M | 2.52M | 797.4K | 550K | 673.23K |
| R&D % of Revenue | - | 2078% | 2304.44% | - | 521.6% | 421.3% | 218.13% | 271.26% | 897.75% | 1044.92% | 332.91% | 188.82% | 925.85% | 340.72% | 390.05% | 592.99% | - | 67.75% | 55.72% | 75.11% |
| Other Operating Expenses | -2.29M | 0 | 0 | 0 | 0 | 143K | 0 | 16K | 19K | 25K | 21K | 32K | -1.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -23.96M | -18.6M | -16.63M | -29.34M | -29.7M | -31.11M | -14M | -15.79M | -14.23M | -14.27M | -9.89M | -6.67M | -3.84M | -6.67M | -9.33M | -9.65M | -4.59M | -1.93M | -1.87M | -1.67M |
| Operating Margin % | -7985.33% | -4650.5% | -7392.89% | - | -1576.27% | -1312.15% | -854.88% | -782.36% | -3204.28% | -3622.84% | -1043.57% | -360.13% | -1873.17% | -662.07% | -730.38% | -1856.25% | - | -163.64% | -189.05% | -185.77% |
| Operating Income Growth % | - | -11.83% | 43.31% | 1.19% | 4.54% | -122.17% | 11.31% | -10.97% | 0.33% | -44.28% | -48.41% | -73.59% | 42.4% | 28.52% | 3.39% | -110.46% | -138.16% | -3.22% | -12.07% | - |
| EBITDA | -22.89M | -17.48M | -15.38M | -27.96M | -25.91M | -28.7M | -11.76M | -14.04M | -12.52M | -12.6M | -8.95M | -6.3M | -3.48M | -6.33M | -9M | -9.28M | -4.25M | -1.64M | -1.62M | -1.34M |
| EBITDA Margin % | -7630.33% | -4369% | -6837.33% | - | -1375.05% | -1210.33% | -718.07% | -695.69% | -2819.37% | -3197.46% | -944.41% | -340.52% | -1697.07% | -628.5% | -704.56% | -1783.8% | - | -139.51% | -164.2% | -149.84% |
| EBITDA Growth % | -45.89% | -13.6% | 44.98% | -7.94% | 9.73% | -143.98% | 16.22% | -12.15% | 0.64% | -40.71% | -42.04% | -81.17% | 45.03% | 29.66% | 3.02% | -118.29% | -158.82% | -1.31% | -20.68% | - |
| D&A (Non-Cash Add-back) | 1.06M | 1.13M | 1.25M | 1.38M | 3.79M | 2.41M | 2.24M | 1.75M | 1.71M | 1.68M | 940K | 363K | 361K | 338K | 329.71K | 376.81K | 337.03K | 283.95K | 245.26K | 322.04K |
| EBIT | -23.61M | -18.16M | -15.27M | -29.23M | -29.51M | -30.97M | -13.98M | -15.7M | -14.19M | -14.21M | -9.85M | -6.67M | -3.67M | -6.11M | -5.61M | -12.14M | -6.06M | -1.91M | -1.87M | -1.67M |
| Net Interest Income | 1.35M | 225K | 191K | 130K | 177K | -2.31M | -2.45M | -1.82M | -1.9M | -1.89M | -785K | 9K | 130K | -81K | -51K | -37.88K | -378 | 20.42K | 0 | 0 |
| Interest Income | 1.5M | 437K | 363K | 130K | 177K | 140K | 15K | 75K | 15K | 39K | 22K | 9K | 8K | 9K | 12K | 12.62K | 12.73K | 20.42K | 0 | 0 |
| Interest Expense | 143K | 212K | 172K | 0 | 0 | 2.45M | 2.47M | 1.9M | 1.92M | 1.93M | 807K | 0 | 122K | 90K | 62.85K | 50.5K | 13.11K | 0 | 0 | 0 |
| Other Income/Expense | -3.65M | 225K | 1.19M | 32K | 184K | 7.9M | -2.44M | -1.81M | -1.88M | -1.86M | -764K | 41K | 174K | 469K | 3.65M | -2.49M | -1.49M | 20.42K | 0 | 0 |
| Pretax Income | -27.61M | -18.38M | -15.44M | -29.31M | -29.51M | -23.21M | -16.44M | -17.6M | -16.11M | -14.53M | -10.66M | -6.63M | -3.67M | -6.2M | -5.68M | -12.11M | -6.08M | -1.91M | -1.87M | -1.67M |
| Pretax Margin % | -9202% | -4594.25% | -6863.56% | - | -1566.51% | -979.04% | -1003.91% | -872% | -3627.93% | -3688.32% | -1124.16% | -357.91% | -1788.29% | -615.49% | -444.48% | -2327.53% | - | -161.94% | -189.05% | -185.77% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4K | 34K | 347K | -65K | -9K | 0 | 0 | 0 | 2.49M | 2.4K | 1.53K | 3.71K | 851 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.02% | -0.21% | -2.39% | 0.61% | 0.14% | 0% | 0% | 0% | -20.55% | -0.04% | -0.08% | -0.2% | -0.05% |
| Net Income | -27.61M | -18.38M | -24.91M | -65.01M | -50.39M | -23.21M | -16.44M | -17.59M | -16.11M | -14.53M | -9.76M | -6.63M | -3.67M | -6.2M | -5.68M | -12.14M | -6.08M | -1.91M | -1.87M | -1.67M |
| Net Margin % | -9202% | -4594.25% | -11069.78% | - | -2674.68% | -978.79% | -1003.6% | -871.8% | -3627.25% | -3688.32% | -1029.96% | -357.91% | -1788.29% | -615.49% | -444.48% | -2334.64% | - | -162.02% | -189.35% | -185.88% |
| Net Income Growth % | -31.51% | 26.22% | 61.69% | -29.01% | -117.14% | -41.17% | 6.56% | -9.24% | -10.82% | -48.83% | -47.38% | -80.71% | 40.85% | -9.2% | 53.25% | -99.77% | -218.72% | -2.03% | -12.18% | - |
| Net Income (Continuing) | -27.61M | -18.38M | -15.44M | -29.31M | -29.51M | -23.21M | -16.44M | -17.6M | -16.11M | -16.14M | -10.66M | -6.63M | -3.67M | -6.2M | -5.68M | -12.14M | -6.08M | -1.91M | -1.87M | -1.67M |
| Discontinued Operations | 0 | 0 | -9.46M | -35.7M | -20.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | -17K | -11K | -6K | -2K | 1K | 14.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.23 | -1.75 | -6.50 | -106.18 | -2889.06 | -59.98 | -304.64 | -471.65 | -770.00 | -800.00 | -600.00 | -450.00 | -300.00 | -650.00 | -700.00 | -1950.00 | -1100.00 | -450.00 | 0.00 | 0.00 |
| EPS Growth % | 75.31% | 73.08% | 93.88% | 96.32% | -4716.71% | 80.31% | 35.41% | 38.75% | 3.75% | -33.33% | -33.33% | -50% | 53.85% | 7.14% | 64.1% | -77.27% | -144.44% | - | - | - |
| EPS (Basic) | - | -1.75 | -6.50 | -106.18 | -2889.06 | -59.98 | -304.64 | -471.65 | -770.00 | -800.00 | -600.00 | -450.00 | -300.00 | -650.00 | -700.00 | -1950.00 | -1100.00 | -450.00 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 119.6M | 10.5M | 3.83M | 612.25K | 17.44K | 391.24K | 125.59K | 37.85K | 21.26K | 17.82K | 16.19K | 14.3K | 12.59K | 9.88K | 7.9K | 6.19K | 5.46K | 4.05K | 0 | 0 |
| Basic Shares Outstanding | 119.6M | 10.5M | 3.83M | 612.25K | 17.44K | 391.24K | 125.59K | 37.85K | 21.26K | 17.82K | 16.19K | 14.3K | 12.59K | 9.88K | 7.9K | 6.19K | 5.46K | 4.05K | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and capital exhaustion
As indicated by the company's recent financial disclosures, iBio's revenue trajectory remains highly erratic, with quarterly figures frequently hitting zero and a TTM total of only $400,000, underscoring the lack of a stable, recurring commercial foundation for its plant-based bioprocessing and therapeutic development services.
The intermittent nature of revenue recognition suggests that the company relies on sporadic, project-based feasibility studies rather than long-term manufacturing contracts. This lack of consistent top-line growth makes it difficult to forecast future performance or establish a reliable valuation floor for the business.
Based on reported income statements, iBio's gross margins fluctuate wildly between 100% and negative territory, a pattern that suggests the company's cost accounting is heavily influenced by low-volume activity and the inconsistent capitalization of direct manufacturing expenses at its Texas facility.
The extreme volatility in gross margins indicates that the company has yet to achieve the scale necessary to absorb its fixed manufacturing overhead. Investors should monitor whether future contract wins can stabilize these margins, as the current data suggests a lack of structural pricing power.
According to the provided quarterly data, iBio maintains a persistent and heavy R&D and SG&A cost structure that consistently dwarfs its minimal revenue, resulting in operating losses that appear to be accelerating rather than narrowing as the company attempts to pivot its strategic focus.
The company's cost structure is characterized by high fixed expenses that do not scale with its current revenue-generating activities. This decoupling suggests that management is prioritizing long-term pipeline development over immediate operational efficiency, which may continue to pressure the company's limited cash reserves.
Financial statements reveal a recurring pattern of significant net losses and high cash burn, which, when viewed alongside the company's history of equity-based financing, suggests that the current business model may be unsustainable without frequent and dilutive capital raises to fund ongoing operations.
Short-term observers may focus on the company's inability to convert its proprietary plant-based technology into a self-sustaining commercial engine. The persistent reliance on external funding to cover operating deficits warrants further investigation into the company's long-term viability as an independent entity.
Quick answers to the most common questions about buying IBIO stock.
For fiscal year 2025, iBio, Inc. (IBIO) reported total revenue of $0.4M. This represents a 55.4% decline compared to $0.9M in 2007.
iBio, Inc. (IBIO) reported a net loss of $18.4M for the fiscal year ending 2025.
iBio, Inc. (IBIO) reported an operating income of $-18.6M, resulting in an operating profit margin of -4650.5%. This margin reflects the operational efficiency of the business before interest and taxes.
iBio, Inc. (IBIO) generated $0.4M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.