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
DateValue
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