Inovio Pharmaceuticals, Inc. (INO) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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INO Revenue Growth
Revenue Breakdown (FY 2025)
INO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
INO Revenue Analysis (2014–2025)
As of May 8, 2026, Inovio Pharmaceuticals, Inc. (INO) generated trailing twelve-month (TTM) revenue of $0, reflecting significant decline in growth of -155.9% year-over-year. The most recent quarter (Q4 2025) recorded $-65,343 in revenue.
Looking at the longer-term picture, INO's historical revenue data shows various trends over time. The company achieved its highest annual revenue of $42.2 million in 2017.
Revenue diversification analysis shows INO's business is primarily driven by Reportable Segments (100%). With over half of revenue concentrated in Reportable Segments, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including NVAX (-52.5% YoY), OCGN (+8.8% YoY), and DVAX (+26.7% YoY), INO has underperformed the peer group in terms of revenue growth. Compare INO vs NVAX →
INO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| INOCurrent | $0 | -155.9% | - | - | |
 NVAX | $1.1B | -52.5% | +118.8% | 50.1% | |
 OCGN | $4M | +8.8% | +152.5% | -1425.7% | |
 DVAX | $277M | +26.7% | +51.1% | -1.5% | |
 VXRT | $237M | +726.7% | +125.8% | 7.6% | |
 AGEN | $114M | +10.4% | +5.3% | -18.0% |
INO Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $0 | -100.0% | $0 | - | $-86,822,104,000 | - |
| 2024 | $218K | -73.8% | $218K | 100.0% | $-112,398,922 | -51616.9% |
| 2023 | $832K | -91.9% | $832K | 100.0% | $-143,940,028 | -17300.3% |
| 2022 | $10.3M | +478.2% | $10.3M | 100.0% | $-267,573,520 | -2607.4% |
| 2021 | $1.8M | -76.1% | $1.8M | 100.0% | $-301,217,919 | -16972.3% |
| 2020 | $7.4M | +80.2% | $7.4M | 100.0% | $-124,082,044 | -1674.2% |
| 2019 | $4.1M | -86.5% | $4.1M | 100.0% | $-111,108,545 | -2702.1% |
| 2018 | $30.5M | -27.8% | $30.5M | 100.0% | $-94,091,138 | -308.7% |
| 2017 | $42.2M | +19.4% | $42.2M | 100.0% | $-83,642,901 | -198.1% |
| 2016 | $35.4M | -12.8% | $35.4M | 100.0% | $-76,235,937 | -215.5% |
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Start ComparisonINO — Frequently Asked Questions
Quick answers to the most common questions about buying INO stock.
Is INO's revenue growth accelerating or slowing?
INO revenue declined -155.9% year-over-year, contrasting with the 5-year CAGR of N/A. TTM revenue fell to $0.00. This reverses the prior growth trend.
What is INO's long-term revenue growth rate?
Inovio Pharmaceuticals, Inc.'s 5-year revenue CAGR of N/A reflects the variable expansion pattern. Current YoY growth of -155.9% is below this long-term average.
How is INO's revenue distributed by segment?
INO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.