Immunocore Holdings (IMCR) Operating Expenses (2021 - 2026)
Immunocore Holdings (IMCR) posted quarterly Operating Expenses of $99.0 million for Q1 2026, up 2.38% year-on-year from $96.7 million in Q1 2025, and down 18.53% on a QoQ basis from $121.5 million in Q4 2025.
Immunocore Holdings (IMCR) Operating Expenses (2021 - 2026) Analysis & Trends
Immunocore Holdings (IMCR) has reported Operating Expenses for 6 consecutive years, with $99.0 million the latest figure, recorded in Q1 2026.
- Quarterly Operating Expenses rose 2.38% year-over-year to $99.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $442.6 million (up 17.13% YoY) and the FY2025 annual result came in at $440.3 million, up 16.5% from the prior year.
- Operating Expenses retreated to $99.0 million in Q1 2026 per IMCR's latest filing, from $121.5 million in the prior quarter.
- Over the last five years, Operating Expenses for IMCR reached as high as $121.5 million in Q4 2025 and fell as low as $41.2 million in Q3 2022.
- A 5-year average of $87.8 million and a median of $89.0 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses decreased 18.88% — and 2023, when it jumped 91.03%.
- Year by year, Operating Expenses stood at $82.4 million in 2022, then climbed by 5.56% to $87.0 million in 2023, then grew by 18.57% to $103.2 million in 2024, then gained by 17.73% to $121.5 million in 2025, then dropped by 18.53% to $99.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $99.0 million, $121.5 million, and $110.4 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | -28.01 Mn |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 1.10 Bn |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | -3.78 Mn |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 1.85 Bn |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 2.96 Bn |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | 32.68 Mn |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 2.89 Bn |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | 445.22 Mn |
| 10 | Immunocore Holdings | 1.80 Bn | 957.43 Mn | 106.24 Mn | 98.96 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 98.96 Mn |
| Dec 31, 2025 | 121.47 Mn |
| Sep 30, 2025 | 110.35 Mn |
| Jun 30, 2025 | 111.80 Mn |
| Mar 31, 2025 | 96.67 Mn |
| Dec 31, 2024 | 103.17 Mn |
| Sep 30, 2024 | 88.30 Mn |
| Jun 30, 2024 | 89.71 Mn |
| Mar 31, 2024 | 96.75 Mn |
| Dec 31, 2023 | 87.01 Mn |
| Sep 30, 2023 | 78.72 Mn |
| Jun 30, 2023 | 78.40 Mn |
| Mar 31, 2023 | 69.14 Mn |
| Dec 31, 2022 | 82.43 Mn |
| Sep 30, 2022 | 41.21 Mn |
| Jun 30, 2022 | 50.69 Mn |
| Dec 31, 2021 | 59.90 Mn |
| Sep 30, 2021 | 50.80 Mn |