Immunocore Holdings (IMCR) Operating Expenses (2021 - 2026)
Immunocore Holdings (IMCR) posted Operating Expenses of $99.0 million for Q1 2026, down 18.53% sequentially from $121.5 million in Q4 2025, and up 2.38% YoY from $96.7 million in Q1 2025.
Analysis
Immunocore Holdings (IMCR) Operating Expenses (2021 - 2026) Analysis & Trends
Immunocore Holdings has reported Operating Expenses for 6 years, with the latest figure at $99.0 million 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 eased to $99.0 million in Q1 2026 per IMCR's latest filing, from $121.5 million in the prior quarter.
- Over five years, Operating Expenses peaked at $121.5 million in Q4 2025 and troughed at $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.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses fell 18.88% in 2022, then surged 91.03% in 2023.
- Over 5 years, Operating Expenses stood at $82.4 million in 2022, then rose by 5.56% to $87.0 million in 2023, then gained by 18.57% to $103.2 million in 2024, then grew by 17.73% to $121.5 million in 2025, then retreated 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 Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 139.27 Bn | 131.42 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 85.55 Bn | 77.56 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 63.45 Bn | 58.27 Bn | 1.37 Bn | -1.05 Bn |
| 4 | Moderna | 57.73 Bn | 52.59 Bn | 52.00 Mn | 960.00 Mn |
| 5 | Revolution Medicines | 44.08 Bn | 44.08 Bn | - | 505.13 Mn |
| 6 | BeOne Medicines | 39.95 Bn | 34.85 Bn | 1.53 Bn | 1.21 Bn |
| 7 | Alnylam Pharmaceuticals | 35.14 Bn | 31.84 Bn | 992.69 Mn | 1.06 Bn |
| 8 | Royalty Pharma | 28.44 Bn | 27.60 Bn | - | 541.02 Mn |
| 9 | Insmed | 27.32 Bn | 26.16 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Immunocore Holdings | 1.87 Bn | 989.25 Mn | 114.84 Mn | 117.84 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 117.84 Mn |
| 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 |